British expats in Thailand feeling the misery as the UK pound drops to record low levels.

[The manic]

1 minute ago, partington said:

This was from 2014, before any of the current incidents you refer to took place, and was  merely a congratulation on being elected, which any politician would say to any other politician in a phone conversation, and not expressing support at all.

If it can't be dismissed as fake news there are always lefty stooges and gullible idiots and apologists to explain things away .

[partington]

Look at this!   Proves Theresa May supports regime threatening the US with ballistic missiles!!!!! Now is this fake news I wonder?? Perhaps a righty stooge and apologist can be called on to explain this one?

 

Tehran, May 25, IRNA - British Prime Minister Theresa May in a message on Thursday congratulated President-elect Hassan Rouhani on his landslide victory in May 19 presidential election.

 

http://www.irna.ir/en/News/82544657

 

Rouhani Lashes Back at Trump, as Iran Unveils New Missile

Escalating a war of words with the United States, President Hassan Rouhani of Iran declared on Friday that his country would continue to develop new missiles and “would not seek anyone’s permission to defend our land.”

https://www.nytimes.com/2017/09/22/world/middleeast/rouhani-trump-missile.html?mcubz=0

Edited September 29, 2017 by partington

[SheungWan]

18 minutes ago, partington said:

This was from 2014, before any of the current incidents you refer to took place, and was  merely a congratulation on being elected, which any politician would say to any other politician in a phone conversation, and not expressing support at all.

Poor attempt at whitewash. Try again.

https://www.standard.co.uk/comment/comment/matthew-danonca-venezuela-goes-to-the-heart-of-jeremy-corbyn-s-fitness-to-become-pm-a3607621.html

 

Edited September 29, 2017 by SheungWan

[partington]

13 minutes ago, SheungWan said:

Poor attempt at whitewash. Try again.

https://www.standard.co.uk/comment/comment/matthew-danonca-venezuela-goes-to-the-heart-of-jeremy-corbyn-s-fitness-to-become-pm-a3607621.html

 

Just a commentary piece, not news, in a right wing paper run by an ex-Tory chancellor with no facts just assertions.

 

I am talking facts not opinions, and the fact is congratulating a leader on being elected is a diplomatic protocol with no implication of support for their policies at all.

 

I don't have to explain why Theresa May congratulated the Iranian president on being elected, when Iran is a hostile regime because I know it means nothing.

 

I don't have to attack May personally at all because I disagree with her policies. People who attack Corbyn by implication that he is a violence supporting nutter just mean they don't like his policies and are scared he might win. 

 

As he said in his speech about the Daily Mail, 14 pages of criticism  didn't work, next time make it 28!

Edited September 29, 2017 by partington

[SheungWan]

18 minutes ago, partington said:

Look at this!   Proves Theresa May supports regime threatening the US with ballistic missiles!!!!! Now is this fake news I wonder?? Perhaps a righty stooge and apologist can be called on to explain this one?

 

Tehran, May 25, IRNA - British Prime Minister Theresa May in a message on Thursday congratulated President-elect Hassan Rouhani on his landslide victory in May 19 presidential election.

 

http://www.irna.ir/en/News/82544657

 

Rouhani Lashes Back at Trump, as Iran Unveils New Missile

Escalating a war of words with the United States, President Hassan Rouhani of Iran declared on Friday that his country would continue to develop new missiles and “would not seek anyone’s permission to defend our land.”

https://www.nytimes.com/2017/09/22/world/middleeast/rouhani-trump-missile.html?mcubz=0

The ES article puts it beautifully. Unfortunately some people will still attempt to muddy up the difference to cover their nonsense:

"For decades, Conservative and Labour governments have nurtured commercial relations with Saudi to protect UK jobs and the national interest. But no British minister has ever hailed the Islamic theocracy as a model to be emulated, or an “inspiration”. There is a world of difference between the hard-headed pragmatism of global diplomacy and the ideological veneration of a manifestly terrible regime."

Over to our friendly Corbynista for some further obfuscation.

Edited September 29, 2017 by SheungWan

[SheungWan]

47 minutes ago, The manic said:

He's also a supporter of Islamic terror group and IRA terrorists. His team includes communists and Trotskyist activists who took over in Liverpool in the 80s. THE Momentum group are using SWP tactics to control the party which is why its spouting Spartist, juvenile nonesense.

The organisation which took over Liverpool Council in the 1980s was The Militant Group which was an Orthodox Trotskyist entry group into the Labour Party by the RSL (Revolutionary Socialist League) Not to be confused with the SWP which was outside the LP at the time.

[SheungWan]

So, back to sterling. What I was saying earlier was that Corbyn would be absolute poison for sterling and that expats should consider hedging some sterling ahead of such an event ie Corbyn being elected. This would be no one-way bet, but if one's cash savings are solely in sterling then all eggs in one basket IMHO is a riskier place to be. Even those who do not want to entertain buying third currencies might consider increasing their baht holdings to 1,2,3 years of anticipated personal expenditure, while sterling is holding up at the moment.

[The manic]

1 hour ago, SheungWan said:

The organisation which took over Liverpool Council in the 1980s was The Militant Group which was an Orthodox Trotskyist entry group into the Labour Party by the RSL (Revolutionary Socialist League) Not to be confused with the SWP which was outside the LP at the time.

Momentum=Militant. Same difference. Both lunatic groups who to infiltrate Labour every so often....now back to hedging sterling...

[The manic]

1 hour ago, partington said:

Just a commentary piece, not news, in a right wing paper run by an ex-Tory chancellor with no facts just assertions.

 

I am talking facts not opinions, and the fact is congratulating a leader on being elected is a diplomatic protocol with no implication of support for their policies at all.

 

I don't have to explain why Theresa May congratulated the Iranian president on being elected, when Iran is a hostile regime because I know it means nothing.

 

I don't have to attack May personally at all because I disagree with her policies. People who attack Corbyn by implication that he is a violence supporting nutter just mean they don't like his policies and are scared he might win. 

 

As he said in his speech about the Daily Mail, 14 pages of criticism  didn't work, next time make it 28!

He said it to the a Labour party conference sheep.  

[Mover1]

In all seriousness, I heard Corbyn sells drugs to kids.

Edited September 29, 2017 by Mover1

[SheungWan]

35 minutes ago, The manic said:

Momentum=Militant. Same difference. Both lunatic groups who to infiltrate Labour every so often....now back to hedging sterling...

The difference is that Militant failed and was defeated by the Labour leader at that time Neil Kinnock. Now, Momentum's man Corbyn is leader of the Labour Party, so quite a different situation particularly re risks for sterling. Militant was on the margin (though it thought otherwise at the time). There is more risk re Momentum and having Corbyn left-wing populism Syriza or Podemis style is not to be written off. Thus there is a potential cloud for sterling.

[SheungWan]

37 minutes ago, Mover1 said:

In all seriousness, I heard Corbyn sells drugs to kids.

Left-Wing Placebos, but for free.

Edited September 29, 2017 by SheungWan

[bomber]

2 hours ago, partington said:

This was from 2014, before any of the current incidents you refer to took place, and was  merely a congratulation on being elected, which any politician would say to any other politician in a phone conversation, and not expressing support at all.

he was on TV being interviewed by sky news 2 days ago,this thing 2 year ago may well be true,he is still a communist dinosour,and IRA fundraiser(we will say ex fundraiser now) but he does have one of them magic money trees,which are hard to get hold of these days.

[emilymat]

1 hour ago, SheungWan said:

The difference is that Militant failed and was defeated by the Labour leader at that time Neil Kinnock. Now, Momentum's man Corbyn is leader of the Labour Party, so quite a different situation particularly re risks for sterling. Militant was on the margin (though it thought otherwise at the time). There is more risk re Momentum and having Corbyn left-wing populism Syriza or Podemis style is not to be written off. Thus there is a potential cloud for sterling.

I agree entirely, having been a national full time union official in the 80's when Derek Hatton and his crowd were in full flow. It was bad enough trying to work for your members when you were referred too as 'the enemy within' by Margaret Thatcher. How I despaired then, as I do now for Labour. I could never vote Tory but, frankly, I believe we will be in a greater mess with Corbyn/Mc Donald/ Abbot at the helm. (Mind you, the last one you cannot criticise as you will be labelled racist, but someone who couldn't answer questions and had to pull out of the election campaign is hardly my first choice for Foreign Sec - even though Boris is a nutcase.)

 

I just feel we now have a worrying 'cult of personality' at it's strongest. The chanting at the conference reminded me a bit of Kim in N Korea. (I bet if you didn't clap and chant 'Jeremy Corbyn' for two minutes before the speech certain people would look at you and put down a marker!).

 

There is not going to be a general election for some time, but I am also going to bring over some more sterling  later this year after I see what rate it is if interest rates increase next month. Goodness knows how I shall vote.

 

 

 

 

[emilymat]

Just to add - although I typed it on the earlier post and it didn't appear. I listened to Mark Carney on Radio 4 Today programme this morning. He made it as clear as he dared that interest rates would rise, probably next month. I doubt it will be more than 1/4% though. But it's a start and I have little sympathy for mortgage payers who should have realised interest rates at near zero could simply not last forever.

[Jip99]

6 minutes ago, emilymat said:

Just to add - although I typed it on the earlier post and it didn't appear. I listened to Mark Carney on Radio 4 Today programme this morning. He made it as clear as he dared that interest rates would rise, probably next month. I doubt it will be more than 1/4% though. But it's a start and I have little sympathy for mortgage payers who should have realised interest rates at near zero could simply not last forever.

 

In all honesty I doubt too many will be bleating. I think most people understand that base rate has been artificially low for years. Obviously, many people i.e. BTL borrowers have been paying much higher commercial rates under the 'minimum lending rate' clause imposed by some lenders.

 

My fixed rate of 0.17% over base still has 9 years to run ?

[The manic]

3 hours ago, SheungWan said:

Left-Wing Placebos, but for free.

He sells platitudes, propaganda and false solutions.

[Henryford]

9 hours ago, emilymat said:

Just to add - although I typed it on the earlier post and it didn't appear. I listened to Mark Carney on Radio 4 Today programme this morning. He made it as clear as he dared that interest rates would rise, probably next month. I doubt it will be more than 1/4% though. But it's a start and I have little sympathy for mortgage payers who should have realised interest rates at near zero could simply not last forever.

I wouldn't believe anything Carnage says. The 0.25% rise is just putting right the mistake he made last year which he daren't admit to.

[bert bloggs]

30 minutes ago, Henryford said:

I wouldn't believe anything Carnage says. The 0.25% rise is just putting right the mistake he made last year which he daren't admit to.

Yes he really F----ed up there ,he panicked thinking Brexit would be the end of the world .

[MaeJoMTB]

10 hours ago, emilymat said:

There is not going to be a general election for some time, but I am also going to bring over some more sterling  later this year after I see what rate it is if interest rates increase next month. Goodness knows how I shall vote.

 

 

 

 

Not sure the pound is all that weak.

Before Brexit 50bht and 70 peso to the pound

Now 44bht and 67 peso to the pound ........ 10% drop against Baht, 4% drop against the peso.

NZ isn't doing all that well against the Baht either, lowest it's ever been ..........

 

Can't understand why the Baht is so strong, economy down the toilet, industry closed down, military dictatorship ........ it should be weak! I ain't bringing my money over from the UK.

Edited September 30, 2017 by MaeJoMTB

[Henryford]

7 minutes ago, MaeJoMTB said:

Not sure the pound is all that weak.

Before Brexit 50bht and 70 peso to the pound

Now 44bht and 67 peso to the pound ........ 10% drop against Baht, 4% drop against the peso.

NZ isn't doing all that well against the Baht either, lowest it's ever been ..........

 

Can't understand why the Baht is so strong, economy down the toilet, industry closed down, military dictatorship ........ it should be weak! I ain't bringing my money over from the UK.

Maybe because they don't have a 90% of GDP level of debt and aren't printing monopoly money by the billion.

[mstevens]

1 hour ago, MaeJoMTB said:

NZ isn't doing all that well against the Baht either, lowest it's ever been ..........

Two years ago it was under 23 to the NZ dollar.  When I first visited 16 odd years ago I got something like 22 baht for the Aussie dollar which is always stronger than the Kiwi by 10 - 20%....and the kiwis got about 18 baht.  Today the NZ dollar gets almost 24.  It's down a little but hardly at the lowest it has ever been.

[dick dasterdly]

18 hours ago, SheungWan said:

The difference is that Militant failed and was defeated by the Labour leader at that time Neil Kinnock. Now, Momentum's man Corbyn is leader of the Labour Party, so quite a different situation particularly re risks for sterling. Militant was on the margin (though it thought otherwise at the time). There is more risk re Momentum and having Corbyn left-wing populism Syriza or Podemis style is not to be written off. Thus there is a potential cloud for sterling.

Sterling always (?) falls when the Labour party is elected.  Those with serious money tend not to be 'fans' of the Labour party - and they are the companies/people influencing the money and stock markets.

[SheungWan]

16 minutes ago, dick dasterdly said:

Sterling always (?) falls when the Labour party is elected.  Those with serious money tend not to be 'fans' of the Labour party - and they are the companies/people influencing the money and stock markets.

No it doesn't. 'Fans'? What does that mean?

Edited September 30, 2017 by SheungWan

[thaibeachlovers]

On ‎9‎/‎25‎/‎2017 at 8:49 PM, Tofer said:

Oh yes of course I was lucky, for all of the 20 odd years slogging away, risking my shirt to get ahead of the game, and working full time to pay for the privilege as there were no buy-to-let mortgages when I started out.

 

My first and second mortgages  were obtained by being creative and getting a forward valuation on the property once renovated with funds withheld until works complete and bank loans / overdrafts / credit cards  to cover the shortfall in the meantime. My sweat equity covered the deposit eventually.

 

It's called commitment, hard work and guts, not luck! But then not many out there are prepared to break a sweat or stick their necks out.... And to them I will always appear lucky as they cannot comprehend otherwise.

You were lucky in that you coincided with opportune times to buy.

Friend of mine was unlucky in that he got divorced when house prices were low, and when he needed to buy the reverse had happened.

[whiteman]

8 hours ago, MaeJoMTB said:

Not sure the pound is all that weak.

Before Brexit 50bht and 70 peso to the pound

Now 44bht and 67 peso to the pound ........ 10% drop against Baht, 4% drop against the peso.

NZ isn't doing all that well against the Baht either, lowest it's ever been ..........

 

Can't understand why the Baht is so strong, economy down the toilet, industry closed down, military dictatorship ........ it should be weak! I ain't bringing my money over from the UK.

Seeing I am from New Zealand I can tell you  that you are wrong today it is 23.86  two years ago the low was 23.13 and just to add to it 10 years ago it got down to 18.13 so sorry but get your facts right I was lucky I brought over 3 years living not so long ago when it was at 25 to the bhat

[Tofer]

6 hours ago, thaibeachlovers said:

You were lucky in that you coincided with opportune times to buy.

Friend of mine was unlucky in that he got divorced when house prices were low, and when he needed to buy the reverse had happened.

To some degree yes, but there has never been a better time than now, particularly in the North of England with quite low prices, very low interest rates, lenders competing heavily for business and rents increasing.

 

If I was interested in expanding my UK property portfolio I would not be hesitating at this time. A golden opportunity for those with the acumen, inclination and initiative.

[SheungWan]

6 hours ago, thaibeachlovers said:

You were lucky in that you coincided with opportune times to buy.

Friend of mine was unlucky in that he got divorced when house prices were low, and when he needed to buy the reverse had happened.

Divorce and demise are the unfortunate circumstances, but the opportune times are not obvious to all except in retrospect. They are often windows of opportunity and come with risk. By definition really the majority shy away from that risk.

[chrisandsu]

1 minute ago, SheungWan said:

Divorce and demise are the unfortunate circumstances, but the opportune times are not obvious to all except in retrospect. They are often windows of opportunity and come with risk. By definition really the majority shy away from that risk.

Very true and a lot a lot a lot of luck ! I bought my home I currently live in 8 years ago , the price has gone up $200 k in that time! I bought not out of a future investment plan but just a nice decent area that I could afford . I didn't see the boom that was coming, was all a bit of a fluke if I'm honest ? It may come down in that time But will

never fall to the price I paid for it so I will never lose . Problem is I can't sell the property unless I moved to a much cheaper place (like thailand ) as the whole area has shot up massively in price so all steps will be sideways if I bought another house . 

[Airbagwill]

There have always been prophets of doom and drops in exchange rates etc etc......but I think the difference for UK now is Brexit. It will permanently devalue the UK in every respect....value of the pound, value of pensions, values of property, and unlike previous hiccoughs, this is a permanent long term possibility.

many people have already had 20% or more slashed off their wealth.

Of course some expats will tell us that their pensions and savings aren't in the UK and immune, but this will be a minority.

 

In the end I don't see a sudden exodus...it will take time first for the situation to harden and then for the harsh reality to sink in, many may try to hobble along until they die, uninsured in a government hospital, but many will see that Thailand is no longer the cheap retirement option it was 10 years ago and will have to pack up and leave. The new huge industrial expansion in Chonburi and Rayong will undoubtedly raise property prices, rents and CoL and ths rest of the country will follow.

Sadly of course they won't have any choice of where to go....until Brexit there was the possibility of settling in some of the warmer areas of the EU or in the new members with relatively cheap cost of living, but now that option will fly out of the window too.

 

..or like many people in the Uk, they will make use of dual citizenship and move to the other country they have citizenship of....apparently thousands are already renewing their Irish passports (in my case Italian or Australian)

 

...but if you are a Brit (especially an English one) I really  don't envy your prospects for the next 20 to 40 years or so.

 

 

 

 

Edited September 30, 2017 by Airbagwill