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rooster59

More Thais joining the ranks of the rich

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8 hours ago, rooster59 said:

Thailand's gross domestic product (GDP) expanded 4 per cent last year and it is forecast to expand 3.7 per cent this year. “Growth is here,”

No one denies that there is GDP growth in Thailand - same as with the other ASEAN countries.

The current issue is that a recent Reuters poll* for Thailand showed that the median forecast from 12 economists was 2.4% annual growth, which would be the lowest since the 2014’s last quarter, which was the same. The pace in January-March was 2.8%.

Even the very optimistic (and I believe pro-government) National Economic and Social Development Council, which compiles GDP data, has forecast economic growth of 3.3%-3.8% this year, albeit expected to DOWNGRADE those forecasts next week.

Contrary to

8 hours ago, rooster59 said:

He also foresaw growth of private banking business-wealth management for high net worth individuals.

Second-quarter private investment fell 2.8% from a year earlier while consumption growth slowed to 3.3%, central bank indices showed.

Vincent is clearly leading an investment promotion aimed at the wealthy who want to become even more wealthy. He's not interested in raising low-income and mid-income into a better financial class. That's okay, he makes his living off hi-income class. But he must overcome what is becoming even to the wealthy Thai class a faltering economy that not even the government can reverse or cushion.

 https://forum.thaivisa.com/topic/1117898-thai-second-quarter-gdp-growth-seen-weakest-in-four-and-a-half-years-as-exports-tumble-reuters-poll/?utm_source=newsletter-20190816-0631&utm_medium=email&utm_campaign=news

 

 

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8 hours ago, rooster59 said:

More than 80 per cent of their assets are onshore and are under management of major local players like KBank Private Banking.

That is why they have money. 

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9 hours ago, rooster59 said:

the number of billionaires would grow more than 30 per cent a year, said Magnenat.

He must think he is the greatest financier on earth. How are the millionaires going to turn into billionaires at that rate. Sounds like a DH to me.

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7 hours ago, Rossco64 said:

And A Lot More Thais Joining The Ranks Of The Poor!!!!!!! Read here the other day the Government has a record surplus in the banks. And the Royal Family is now the most wealthiest single family in the world!  Whats wrong with having a majority middle class population, "a developed country". Or is the plan to allow the Chinese and the select few Thais have wealth, you know, the ones loyal to the Army backed Government. When was the last Army General/ Prime minister a good leader for a country? History says the opposite. Either encourage immigration  from the west as the west does for Asia and open your mind to and encourage change or watch countries like Vietnam and Cambodia develop and leave Thailand behind with its fat rich Generals saying not my problem

 

Surprised your post didn't get pulled and you suspended for 2 words 😂

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As this manipulated Thai bhat eats up our pensions..

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16 hours ago, rooster59 said:

Vincent Magnenat, Lombard Odier’s chief executive officer for Asia Pacifi

LOMBARD= Loads Of Money But A Real Sickness. 

 

Don't ask me what BATCOAT  means.... Look that one up for yourself. 

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11 hours ago, spidermike007 said:

One thing I have noticed over the years of living here, is that wealthy Thais, and those that love to refer to themselves as hi-so, have very little regard for the common man, are probably amongst the least kind and generous people in the world, when it comes to charity, and using their wealth to benefit either their own people, or mankind, and are not only relatively oblivious of the suffering and hardships of the average Thai, but most of them actually scorn the common man, consider themselves to be way, way above the fray, class wise, and have a totally inappropriate and inaccurate perception of who they are, what they are, and where they fit into the big picture. Perhaps a century from now, that might change. But, as of now most of the wealthy people here are an abomination. 

I thought you were friends with most of them. 

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3 hours ago, mok199 said:

As this manipulated Thai bhat eats up our pensions..

Nonsense

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11 hours ago, spidermike007 said:

One thing I have noticed over the years of living here, is that wealthy Thais, and those that love to refer to themselves as hi-so, have very little regard for the common man, are probably amongst the least kind and generous people in the world, when it comes to charity, and using their wealth to benefit either their own people, or mankind, and are not only relatively oblivious of the suffering and hardships of the average Thai, but most of them actually scorn the common man, consider themselves to be way, way above the fray, class wise, and have a totally inappropriate and inaccurate perception of who they are, what they are, and where they fit into the big picture. Perhaps a century from now, that might change. But, as of now most of the wealthy people here are an abomination. 

How high up does this problem go?

It's OK. No need to answer.

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Posted (edited)
6 hours ago, emptypockets said:

Nonsense

Thailand was considered  to be placed on a  currency manipulation watch list  along with India in 2017, as for  this ridiculously high baht ''eating my pension''...do the math sir

Edited by mok199

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10 hours ago, greeneking said:

How high up does this problem go?

It's OK. No need to answer.

I would guess anywhere from the upper middle class, who are quite successful, making 200,000 baht or more per month, to the upper class making far more than that. All the way to the top army officials, and top businessmen making hundreds of millions a month. And the landed property elite, who do little other than reap the benefits of the foresight of their ancestors. 

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