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Jonathan Fairfield

How Covid-19 can have a longer term impact for Expats in Thailand

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3 minutes ago, Pedrogaz said:

Look forward to hyperinflation.....governments are spending massive amounts of borrowed money giving it to businesses and to prop up stock markets. This situation is unsustainable....the US is simply printing money and calling it something else. The structural deficit is over 1 trillion a year and they owe 23.6 trillion.....Trump is adding over $1 trillion a year so after another 5 years of Trip we will owe $30 billion. Most people already know the debt cannot ever be paid for, especially as idiots like Trump keep cutting income taxes to inflate the stock market. Government revenues are falling fast and corona will push it over the edge.....soon we will see the first 2 billion dollar deficit what with wars against Syria, Iran, Iraq, Afghanistan and North Korea to fight.....all off budget. 

Faith in the dollar is already falling and it is alright the FED saying 0% interest rates, but the folks buying the Treasuries will sooner or later demand something better than a real negative interest rate for investing in US inc. When this happens that 30 trillion or so debt is not sustainable at all with an interest rates of 5% on long term bonds....ergo default looming in the next decade.

And then? (It's a serious question)

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The corona outbreak will have a big impact for (some of ) us expats .

First they will roll out the vastly expensive dreaded compulsory health insurance for ALL visa's/retirement extentions.

Second : Mandatory quarantines going home , and on returning to thailand.

Since the Thai are not going full financial ret_rd like the west , the THB will stay stronger making it even more expensive

living here (with some inflation caused by western money printing) , and giving a double blow to the ridicuously expensive health insurance.

Even a compromise of having more than the 800k in the bank to dodge the insurance , will still be expensive because of the exchange rate.

 

For years to come the airlines are going to scr-w us even more when booking from Thailand to europe , just to recover what they have lost during this crisis.

 

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