Thai treasury reserves down 85% since coup

[DrTuner]

2 hours ago, chiang mai said:

It rather looks  like income and expense runs in cycles during the same periods each year although the General and his spokespeople probably didn't know that, who would unless you read the entire budget document, I know it completely destroys the incompetence and mismanagement theories but what an be done.

Isn't not reading the budget a confirmation of mismanagement?

[chiang mai]

6 minutes ago, DrTuner said:

Isn't not reading the budget a confirmation of mismanagement?

It's not necessarily to say the budget hasn't been read but it looks as though the historic spend patterns may have been forgotten or not read, who knows. I do know there's a guy somewhere on the planet who once having read a telephone book can remember all the names and numbers in it but I guess it's not the PM or his finance guy, I suppose in that respect it can be said they are not qualified for their jobs!

 

Sorry to interrupt the bashing, please continue.

[Naam]

33 minutes ago, DrTuner said:

Isn't not reading the budget a confirmation of mismanagement?

right you are! and it's the sacred duty of every Bill, Buck, Hank and Joe who is on a tight budget to criticise the government of their host country by splitting hairs combined with the hope that finally their Dollars, Pounds, EURos and what not currency will soar vs. the Thai Baht.

[billd766]

9 hours ago, kannot said:

they  cant  even  supply  clean  water  to  the  villages.................I know which priority most people would rather  have.

Grass cutting??????????? I think about 14  months ago, some roads now have become single lane due to weed encroachment, along   our  land I did my own weed control............got complaints about it "not being my land" same old BS from neighbours with nothing better to do all day

 

Yet when I cut the verges outside our land and the neighbours as well I get smiles, waves and thumbs from people going by and if the time is right I even get that from some of the monks on the morning alms patrol.

 

The village that you live in must have a right miserable bunch of people living there.

[OldSiamHand]

On 2/8/2017 at 1:28 PM, Moonmoon said:

During the previous coup and when Abisit was PM, budget for the Military went up as well. the stats are open for all to see. Go google it.

?? Are you saying that the country went bankrupt during the previous coup and when Abhisit was PM, because the budget for the military went up?  If so, I can't find any results in Google stating that the government was bankrupt or that Thailand defaulted on any of its gov't debt or any other indicators of bankruptcy.

[max72]

On 2/7/2017 at 9:11 AM, maewang99 said:

Thailand's international reserves for December 2005... when teachers joined Sondhi.... concurrent with an effort.... yet again... to decentralize the schools and would have meant teachers losing their Civil Service status..... and benefits.....

Thailand's internal reserves were 2.136 billion US dollars.

today they are 6.272 billion US dollars.

EC_XT_031.
 

3 times bigger. 

why do you think a haircut here still costs about $2?

the Thai Bhat should be in the TEENS against a US dollar that post 1997 has and still has growing twin deficits.... even with Shale Gas!

the BOT is the only bidder for the Baht.... but doesn't bid on the Baht.. it bids on US debt instead. and still does.
   

 

 

Near my condo, there is a barber for Thais (and farangs who wanna join).

Few years ago the basic haircut was 40 baht, than it rose to 50,60,70 and now 80 baht.

In the meanwhile the minimum salary has stuck rising only from 7000 to 9000 baht.

Sure, Hair cute is just an example, but your reason doesn't take into account the extra low and stuck basic salaries.

Look also at the historical exchange rate between the THB and the Malaysian ringgit.

It used to be 11 THB for 1 Ringgit, than 10 to 1, 9 to 1 and now it 8.x to 1.

THB has been lounging around 23-24 THB for 1 Singapore dollar.

Thailand for awhile has had the slowest GDP growth in Southeast Asia.

Tell me where in the world THB vs. USD should be in the teens ! You are dreaming.

Thailand is a country with endemic corruption, no rule of law, and stagnant economy. It's not any asian tiger.

To be honest, its financial data are not that bad as some people say,but there are some worryingly signals..

I would say -as for today-  THB is slightly overvalued, around a 5%.

In the long term, It depends ....THB could start rising again the same way the renmbimbi had risen for few years (it reversed its course in the past 12/18 months), but it needs to start growing faster and have a more open government. 

 

[max72]

On 2/8/2017 at 4:06 PM, dcnx said:

Thailand bankruptcy by late 2018?

 

No, no.... the society is in dire straits. If you have a family and have children here you should be worried  about their future, their education , but financially Thailand is not that bad, i don't see any bankrupcy coming, even considering how inepts those guys in uniform are.