oxysong Posted June 21, 2019 Share Posted June 21, 2019 10 hours ago, marko kok prong said: Not mentioned is the massive amount of household debt in Thailand,and what the banks call non perfoming loans[basically defaults] i see trouble ahead. True,but the banks ,plus BoT selling high interest bonds,are pulling in plenty of money,its not possible to service these bond sales. couple of banks stopped car loans/housing loans being scutinised,and always persistent rumours of one bank in particular being in trouble,people are basically broke,only loans are keeping it all from falling apart Link to comment Share on other sites More sharing options...
Cryingdick Posted June 21, 2019 Share Posted June 21, 2019 11 hours ago, Berkshire said: Yeah, this is another gift from Trump to US expats in Thailand. The US economy had been churning along with the feds poised to raise rates, which would have boosted the dollar. But the economic uncertainty, largely from Trump tariffs and the looming China trade war, has derailed that. Not to mention the Iran crisis--another Trump gift--which is sure to raise oil prices and create more uncertainty. Thanks Trump. Too bad for the expats, great move for those of us back home. Nobody made anybody move out of the USA. You gave yourself the risk of currency fluctuations when you moved out. Presumably most adults have a 401K or retirement investments. You know the kind that are at record levels today? If you sold off, moved to Thailand, and didn't take into account inflation and currency risks well you lay in the bed you made. Most Americans have benefited from the economy lately. Don't let the fact that you voluntarily chose to move from the strongest economy in the world and are now suffering from a lack of participation in it distort the reality. Link to comment Share on other sites More sharing options...
oxysong Posted June 21, 2019 Share Posted June 21, 2019 5 hours ago, Cryingdick said: Too bad for the expats, great move for those of us back home. Nobody made anybody move out of the USA. You gave yourself the risk of currency fluctuations when you moved out. Presumably most adults have a 401K or retirement investments. You know the kind that are at record levels today? If you sold off, moved to Thailand, and didn't take into account inflation and currency risks well you lay in the bed you made. Most Americans have benefited from the economy lately. Don't let the fact that you voluntarily chose to move from the strongest economy in the world and are now suffering from a lack of participation in it distort the reality. its been going on for 3 years now Thailand manipulating the currency. For reasons apparent the junta believes a strong currency equates to a strong country,when in fact they could not fight their way out of a wet paper bag. The billions of baht purchase for the submarines and other hard ware has to be paid for,and a strong currency sure helps it,but events are catching up with Thailand,I do believe time is virtually up for the junta. The rest of the world do not want junta govts. sanctions can easily be applied,but the population is getting restless for sure Link to comment Share on other sites More sharing options...
observer90210 Posted June 21, 2019 Share Posted June 21, 2019 And what will happen if the dollar gets devalued as it has been rumoured around ? ? ? ? ?... Link to comment Share on other sites More sharing options...
soalbundy Posted June 21, 2019 Share Posted June 21, 2019 17 hours ago, simon43 said: Many won't understand that joke! ???? Simon - radio ham for 40 years.... Tony Hancock, the comic genius Link to comment Share on other sites More sharing options...
HuskerDo Posted June 21, 2019 Share Posted June 21, 2019 7 hours ago, oxysong said: True,but the banks ,plus BoT selling high interest bonds,are pulling in plenty of money,its not possible to service these bond sales. couple of banks stopped car loans/housing loans being scutinised,and always persistent rumours of one bank in particular being in trouble,people are basically broke,only loans are keeping it all from falling apart "people are basically broke,only loans are keeping it all from falling apart"... That's true in the US as well. Don't be fooled. The incredible economy is allowing more to get jobs thus access to credit that will be defaulted on whenever the day comes for a downturn in the economy. Trump is doing things no other President has done in the US as he understands business unlike the career politicians. This economy can grow for many years BUT one day if/when it ends there will be many who will be caught in the debt trap. Link to comment Share on other sites More sharing options...
HuskerDo Posted June 21, 2019 Share Posted June 21, 2019 4 minutes ago, observer90210 said: And what will happen if the dollar gets devalued as it has been rumoured around ? ? ? ? ?... "if the dollar gets devalued as it has been rumoured around ".... Never read/heard of such a rumor but if it does happen rush to your computer and check the weather as hell will have frozen over. ???? Link to comment Share on other sites More sharing options...
Cryingdick Posted June 22, 2019 Share Posted June 22, 2019 35 minutes ago, oxysong said: its been going on for 3 years now Thailand manipulating the currency. For reasons apparent the junta believes a strong currency equates to a strong country,when in fact they could not fight their way out of a wet paper bag. The billions of baht purchase for the submarines and other hard ware has to be paid for,and a strong currency sure helps it,but events are catching up with Thailand,I do believe time is virtually up for the junta. The rest of the world do not want junta govts. sanctions can easily be applied,but the population is getting restless for sure I was responding to a poster that blamed America. I assume people that live abroad because of purchasing parity are smarter than I am. If It didn't work out that way so be it. Link to comment Share on other sites More sharing options...
AlexRich Posted June 22, 2019 Share Posted June 22, 2019 1 hour ago, HuskerDo said: "people are basically broke,only loans are keeping it all from falling apart"... That's true in the US as well. Don't be fooled. The incredible economy is allowing more to get jobs thus access to credit that will be defaulted on whenever the day comes for a downturn in the economy. Trump is doing things no other President has done in the US as he understands business unlike the career politicians. This economy can grow for many years BUT one day if/when it ends there will be many who will be caught in the debt trap. I’m always amazed when I meet someone who buys all that Trump rhetoric (I should really say lies). Trump understands bankruptcy like no other, he’s done it so many times. So he’s effectively juicing the system with tax cuts using the USA credit card, piling up a deficit that Republicans are supposed to be worried about (did someone close the Tea Party?). In the meantime he’s boosting the world economy with a trade war ... not. We’re in an era when people who should never be handed power, populists, are ... Boris Johnson next up. It will all end in tears ... hopefully not mine. Link to comment Share on other sites More sharing options...
Berkshire Posted June 22, 2019 Share Posted June 22, 2019 7 hours ago, Cryingdick said: Too bad for the expats, great move for those of us back home. Nobody made anybody move out of the USA. You gave yourself the risk of currency fluctuations when you moved out. Presumably most adults have a 401K or retirement investments. You know the kind that are at record levels today? If you sold off, moved to Thailand, and didn't take into account inflation and currency risks well you lay in the bed you made. Most Americans have benefited from the economy lately. Don't let the fact that you voluntarily chose to move from the strongest economy in the world and are now suffering from a lack of participation in it distort the reality. Oh please, your propensity to protect Trump at all cost is glaring. There are Americans in America who are much worse off than expats in Thailand. Those in manufacturing, farmers, lobster fishermen, alternative energy...I can go on and on. Trump took credit for Obama's economy and is now trying to take the USA backwards. As for me, I'm better off than most. I'm in the US stock market, have income from the USA, income in Thailand...no need to shed a tear for me. But Trump is not doing what's best for America in the long term. Link to comment Share on other sites More sharing options...
Kasane Posted June 22, 2019 Share Posted June 22, 2019 Many are enamored by gold. But gold only goes up when USD goes down. The new digital gold is Bitcoin. Invest for the long haul in digital gold, up against all currencies and commodities, and not in control of any government. Link to comment Share on other sites More sharing options...
Beggar Posted June 22, 2019 Share Posted June 22, 2019 46 minutes ago, Kasane said: Many are enamored by gold. But gold only goes up when USD goes down. The new digital gold is Bitcoin. Invest for the long haul in digital gold, up against all currencies and commodities, and not in control of any government. I would rather buy some land on the moon... Link to comment Share on other sites More sharing options...
Kasane Posted June 22, 2019 Share Posted June 22, 2019 6 minutes ago, Beggar said: I would rather buy some land on the moon... Don't know about land but you can sure buy craters there. Link to comment Share on other sites More sharing options...
spidermike007 Posted June 22, 2019 Share Posted June 22, 2019 The baht is at 30.71 as of this morning. Scary. I have to assume, with the astonishing degree of incompetence this administration possesses, that sooner or later, the baht will correct. It seems to be way, way overvalued. Of course, current Trump policy seems to be pushing the dollar lower. Inane polices, coupled with a total inability to negotiate plagues the man. It will probably result in the loss of the next election. Good good. Link to comment Share on other sites More sharing options...
andytime Posted June 22, 2019 Share Posted June 22, 2019 2 hours ago, AlexRich said: I’m always amazed when I meet someone who buys all that Trump rhetoric (I should really say lies). Trump understands bankruptcy like no other, he’s done it so many times. So he’s effectively juicing the system with tax cuts using the USA credit card, piling up a deficit that Republicans are supposed to be worried about (did someone close the Tea Party?). In the meantime he’s boosting the world economy with a trade war ... not. We’re in an era when people who should never be handed power, populists, are ... Boris Johnson next up. It will all end in tears ... hopefully not mine. I hear what saying but really please run through the list of successful world leaders at the moment - Merkel (immigration catastrophe), Macron (globalist vegetable with great popularity, in touch with his people), Morrison (the visionary), Trudeau (crooked, with a spending problem) and Carrie Lam (wonder mum) to name a few. You really think the woman whose family trust solicited 2 billion of donations and with her husband involved in countless scandals for their entire lives and who deleted 33k state department emails would be working for you/us?? How has China and Asia's way of dealing really worked for any western country? Some people who owned companies made some money but almost everyone else substituted wage growth or a real job with credit and now stuffed to the gills with it. Mind you I forgot we got some toasters and crap that break 3-12 months whenever the warranty policy expires and they got to knock off anyone's IP for free - all good for the environment I guess. Sadly the world works for special interests only.. there are no leaders any more. Perhaps worthwhile being critical of all - not just one. Barack also doubled the deficit and didn't deliver America a thing.. only a debt problem!! Link to comment Share on other sites More sharing options...
Beggar Posted June 22, 2019 Share Posted June 22, 2019 22 minutes ago, Kasane said: Don't know about land but you can sure buy craters there. Link to comment Share on other sites More sharing options...
ZeVonderBearz Posted June 22, 2019 Share Posted June 22, 2019 Maybe, just maybe, the Thai economy is actually doing well whilst the state of the dollar and pound is the pits due to tariff wars and Brexit, respectively. Link to comment Share on other sites More sharing options...
Kasane Posted June 22, 2019 Share Posted June 22, 2019 47 minutes ago, Beggar said: Beggars can have it. ???? Link to comment Share on other sites More sharing options...
ThomasThBKK Posted June 22, 2019 Share Posted June 22, 2019 21 hours ago, zydeco said: Don't worry about the Thais. A credit amnesty will be kicked in. How to pay for that? Well, lots of expats with brand new year-long required 400,000 baht bank deposit. Not to mention those they'll also get with 800,000 stuck in the bank for five months. For every 800k that gets deposited Thai banks can loan out 8 mio THB, they only need a reserve of 10% for loans. (Same in the US, Europe etc) Make what you will from that, but the whole banking system is really a mess. Link to comment Share on other sites More sharing options...
zydeco Posted June 22, 2019 Share Posted June 22, 2019 3 hours ago, spidermike007 said: The baht is at 30.71 as of this morning. Scary. I have to assume, with the astonishing degree of incompetence this administration possesses, that sooner or later, the baht will correct. It seems to be way, way overvalued. Of course, current Trump policy seems to be pushing the dollar lower. Inane polices, coupled with a total inability to negotiate plagues the man. It will probably result in the loss of the next election. Good good. And Bank of America is out there claiming that the dollar is still 10 to 13 percent over valued. Link to comment Share on other sites More sharing options...
Beggar Posted June 22, 2019 Share Posted June 22, 2019 2 minutes ago, zydeco said: It will probably result in the loss of the next election. I doubt it. Alone if I think of George W. Bush... It seems the more unqualified these people are the more the US people love them. Perhaps it gives them the feeling that he is one of them. Sorry - the latter was just a joke. Please don't send a Drohne. Link to comment Share on other sites More sharing options...
Lacessit Posted June 22, 2019 Share Posted June 22, 2019 I find it strange while the baht has strengthened against almost every other currency, so has Thai gold. The gold price here is rising as well, when it should be falling. What's going on? Link to comment Share on other sites More sharing options...
madmen Posted June 22, 2019 Share Posted June 22, 2019 3 hours ago, spidermike007 said: It seems to be way, way overvalued Why? Link to comment Share on other sites More sharing options...
soalbundy Posted June 22, 2019 Share Posted June 22, 2019 6 hours ago, AlexRich said: I’m always amazed when I meet someone who buys all that Trump rhetoric (I should really say lies). Trump understands bankruptcy like no other, he’s done it so many times. So he’s effectively juicing the system with tax cuts using the USA credit card, piling up a deficit that Republicans are supposed to be worried about (did someone close the Tea Party?). In the meantime he’s boosting the world economy with a trade war ... not. We’re in an era when people who should never be handed power, populists, are ... Boris Johnson next up. It will all end in tears ... hopefully not mine. Trump, the only guy who ran a casino into the ground. Link to comment Share on other sites More sharing options...
hansgruber Posted June 22, 2019 Share Posted June 22, 2019 1 hour ago, soalbundy said: Trump, the only guy who ran a casino into the ground. Not true. Atlantic city as whole went under. The city was bankrupt, crime was high and everyone lost out. The crooked banks were the losers and that's an entity I don't give a toss about or have sympathy for. Link to comment Share on other sites More sharing options...
oxysong Posted June 22, 2019 Share Posted June 22, 2019 5 hours ago, ZeVonderBearz said: Maybe, just maybe, the Thai economy is actually doing well whilst the state of the dollar and pound is the pits due to tariff wars and Brexit, respectively. I doubt that,anything but. BOT/junta just keep issuing high interest bonds,no fluctuation in 3 years,just increasing,..... to get a true state of affairs would be nigh on impossible,but a few clues spring forth,projected exports down from previous forecast of 8% ,down to 3% and further 1% for next year. Rice sales,total disaster,most expensive now Thai rice against competing countries,cars exports taking a hit too. Not putting min wage up to 400 a day,said it before those massive advertising billboards mostly empty. Debenture bonds,sold well recently for small Thai bank,but short time selling coming to an end,see if they can service those bonds with slowing economy Link to comment Share on other sites More sharing options...
observer90210 Posted June 22, 2019 Share Posted June 22, 2019 10 hours ago, HuskerDo said: "if the dollar gets devalued as it has been rumoured around ".... Never read/heard of such a rumor but if it does happen rush to your computer and check the weather as hell will have frozen over. ???? Well now you have heard of it (please see below)...enjoy reading. https://edition.cnn.com/2019/06/06/economy/elizabeth-warren-lower-dollar/index.html Link to comment Share on other sites More sharing options...
HuskerDo Posted June 22, 2019 Share Posted June 22, 2019 7 hours ago, observer90210 said: Well now you have heard of it (please see below)...enjoy reading. https://edition.cnn.com/2019/06/06/economy/elizabeth-warren-lower-dollar/index.html OH yes! CNN and Elizabeth Warren of all people said it was going to happen so it MUST be true. I won't even bother to read the babble. Let me know when hell has frozen over. Link to comment Share on other sites More sharing options...
wilailuk Posted June 22, 2019 Share Posted June 22, 2019 13 hours ago, ThomasThBKK said: For every 800k that gets deposited Thai banks can loan out 8 mio THB, they only need a reserve of 10% for loans. (Same in the US, Europe etc) Make what you will from that, but the whole banking system is really a mess. Sure is.. and here´s a clever guy with a few comments on that: Go grab some gold, all currency WW will crash.. Link to comment Share on other sites More sharing options...
nkg Posted June 22, 2019 Share Posted June 22, 2019 16 hours ago, ZeVonderBearz said: Maybe, just maybe, the Thai economy is actually doing well whilst the state of the dollar and pound is the pits due to tariff wars and Brexit, respectively. Yes, the Thai economy seems to be doing very well recently. It's not just the dollar and the pound that are falling against the baht, though: (copy and pasted from another thread, world's 10 most traded currencies) Since December 1st 2018: USD fell 5.28% against the THB EUR fell 6.32% against the THB JPY fell 0.89% against the THB GBP fell 6.73% against the THB AUD fell 10.9% against the THB CAD fell 5.84% against the THB CHF fell 5.46% against the THB CNY fell 4.5% against the THB SEK fell 9.49% against the THB NZD fell 10.06% against the THB Going by that, the strength of the Thai baht seems to be the main reason for the pound and the dollar sliding. Link to comment Share on other sites More sharing options...
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