Jump to content
BANGKOK
snoop1130

Household debts of Thais alarm economists

Recommended Posts

The seemingly ease if credit here is astounding! So many ladies paying 10k for a car to the bank each month and 20k for a house!... Non of them earn more than 20k a month!

Creative financing is necessary 555

Sent from my CLT-L09 using Tapatalk

  • Like 1

Share this post


Link to post
Share on other sites
1 hour ago, nickstav said:

Maybe it would be prudent of the banks or private lenders to actually check on the buyers ability to repay what they will owe beforehand, which might save the poor consumer from getting into a situation that is drowning them. Not that I for a moment think that banks or private lenders have a heart, but bad debts are bad business for them too.

2008 teached us that there is no such thing as bad debt. They get repackaged together as safe "investment" for those who have savings. 

Share this post


Link to post
Share on other sites
3 hours ago, PatOngo said:

But my new iPhone 11 is SOOOO cool!

Was at a my local central last Saturday. Seemed as if every man and his dog was queuing outside a phone shop or carrying a small bag which was a symbol they’d just bought one. 

Share this post


Link to post
Share on other sites
5 hours ago, snoop1130 said:

The ratio of household debt to GDP has risen by 78.8 per cent

Poor and ambiguous statement in the opening sentences.  Risen from what?  Risen from when? 

  • Like 2

Share this post


Link to post
Share on other sites

What happen if the Thai economy collapsed again? The last time was in 1997, it’s been a long time.

Share this post


Link to post
Share on other sites
32 minutes ago, kevin612 said:

What happen if the Thai economy collapsed again? The last time was in 1997, it’s been a long time.

Worldwide basically.. It looks very ugly, knowing of protests globally today, I would not say a civil world war is impossible. 
I guess they are trying to buy time and find a magical solution in every country, else it collapsed already.

What concerns me more, if that happens, I do not expect Thais or gov. to be nicer for us hehe. Might not be that safe here.

Edited by tabarin

Share this post


Link to post
Share on other sites
2 hours ago, rkidlad said:

Was at a my local central last Saturday. Seemed as if every man and his dog was queuing outside a phone shop or carrying a small bag which was a symbol they’d just bought one. 

Did they get the matching white pointy hat with a  big "D"  on also?

Share this post


Link to post
Share on other sites
5 hours ago, marko kok prong said:

Reckon i may buy a heap of some of this debt,then if i see movement i will go short,did the same 2008/9 gotta tell i done okay know the market though boys can lose it all if you <deleted> up.

And where would you buy such instruments that would let you make a covered short? Interesting idea.

  • Like 1

Share this post


Link to post
Share on other sites
12 hours ago, snoop1130 said:

Household debts of Thais alarm economists

The debtors are not alarmed; the mindset here is live now; don't pay later.

Share this post


Link to post
Share on other sites
14 hours ago, snoop1130 said:

Household debts of Thais alarm economists

 

Copy Need.JPG

  • Like 1

Share this post


Link to post
Share on other sites
12 hours ago, Matzzon said:

And the bubble grow bigger and bigger and bigger.........pooooof!

 

 

A bubble ready to explode;

it is the Thai banks that hold almost 100% of these debts;

But it's their fault;

to accept that a civil servant who earns 15,000 baht a month can put credits on his back up to sometimes 80% of his salary is suicidal; not only for the consumer but especially for the bank.
If the consumer can no longer repay, for whatever reason, it is the banks that will end up with these more than doubtful debts.

If they are not strong enough they will collapse like a castle of cards;

1997 bis repetitae worse, a thousand times worse.

  • Like 1
  • Thanks 1

Share this post


Link to post
Share on other sites
12 hours ago, PatOngo said:

I'm not cool enough, I got a Samsung!

I have a mobile that you can use to telephone people

  • Like 1
  • Haha 1

Share this post


Link to post
Share on other sites
2 minutes ago, soalbundy said:

I have a mobile that you can use to telephone people

Cool!

Share this post


Link to post
Share on other sites
16 minutes ago, Assurancetourix said:

 

 

A bubble ready to explode;

it is the Thai banks that hold almost 100% of these debts;

But it's their fault;

to accept that a civil servant who earns 15,000 baht a month can put credits on his back up to sometimes 80% of his salary is suicidal; not only for the consumer but especially for the bank.
If the consumer can no longer repay, for whatever reason, it is the banks that will end up with these more than doubtful debts.

If they are not strong enough they will collapse like a castle of cards;

1997 bis repetitae worse, a thousand times worse.

but think of the assets they can seize, most Thais have some paddy back 'home' in the villages

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...