Thai household debt rises to 8-year high

[weegee]

13 hours ago, 12DrinkMore said:

Also he will have placed the deposits in VND, losing on the exchange rate and being subject to Vietnamese inflation and sporadic devaluation of the currency.

 

The only way to get VND out of the country is through the gold shops and buying USD's. The banks will not sell USD's. 

 

But if planning a move to Vietnam or funding holidays then it could be OK.

 

But not living in Thailand and requiring THB for expenses.

Certainly will get caught by the gold shops when trying the exit....It's around 10% charges to complete the transaction. In fact, it's about 10% most ways one may use. That will make it 7% interest....and 10% costs...end result is a good lesson with only 3% total loss..

[trogers]

13 hours ago, JSixpack said:

 

You've finally managed to dig out an article of some relevance but then you didn't really understand the article or its context but merely threw it into your collection of doom links. Automation is now fashionable among doomsters, but you see it's always been.

 

The study said that countries may have to change the kind of skills they deliver to meet this demand. Apart from improving the quality of basic education, these countries will also have to build a higher education system that can develop more of the highly technical skills. “Economies that invest in providing high-quality education are likely to be less affected by disruptive innovations – and will be better placed to exploit them,” the ADB said.

 

So maybe Thailand will get around to doing that if it needs to. You dunno. And why worry about it?

 

And in the larger context may not mean anything. Could even mean more jobs:

 

Predictions that automation will make humans redundant have been made before, however, going back to the Industrial Revolution, when textile workers, most famously the Luddites, protested that machines and steam engines would destroy their livelihoods. “Never until now did human invention devise such expedients for dispensing with the labour of the poor,” said a pamphlet at the time.

 

Yet in the past technology has always ended up creating more jobs than it destroys. That is because of the way automation works in practice, explains David Autor, an economist at the Massachusetts Institute of Technology. Automating a particular task, so that it can be done more quickly or cheaply, increases the demand for human workers to do the other tasks around it that have not been automated.

    --http://www.economist.com/news/special-report/21700758-will-smarter-machines-cause-mass-unemployment-automation-and-anxiety

 

So you've reached the usual myopic, tendentious conclusion. Why not give it a rest?

Stop arguing. No high tech can make a good tasting plate of somtum...

[JSixpack]

21 minutes ago, trogers said:

Stop arguing. No high tech can make a good tasting plate of somtum...

 

How about you stop the bigotry.

[digibum]

On 4/27/2017 at 9:23 PM, trogers said:

The article didn't mentioned that the debtors are also savers. Probably different people totally...

Yes.  

The rich:  Savers

The poor:  Debtors

 

 

[JSixpack]

4 hours ago, digibum said:

Yes.  

The rich:  Savers

The poor:  Debtors

 

 

 

No, both; and the savers more in debt as they have more assets to borrow against.

Edited April 29, 2017 by JSixpack