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Pattaya: City braces for lockdown - mayor says "we're ready for anything"


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26 minutes ago, Senechal said:

Wasn't it supposed to be for 14 days? Should be over by now.

 

Just like "14 days to flatten the curve" last year....

If you don't want a revolt, you need to give some hope to the people

also if the duration of the closure anounced is more than 1 month, they will all

start to ask some form of financial compensations from the governement

hence the 14 days trick. wich can be reapeated several times

 

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20 hours ago, kingofthemountain said:

If you don't want a revolt, you need to give some hope to the people

also if the duration of the closure anounced is more than 1 month, they will all

start to ask some form of financial compensations from the governement

hence the 14 days trick. wich can be reapeated several times

 

 

Yep. Agreed. 

 

The question is, how long can Thailand's banks continue to pretend that NPL's aren't rising? Anyone with half a brain knows that data is cooked. 

 

Banks can put on a happy-face for a little while, but eventually everyone notices they're bleeding out. 

 

 

 

Edited by Senechal
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21 hours ago, kingofthemountain said:

imo Thailand and the banks can keep the happy face for a while

 

they had a massive reserve of foreign currencies (Due to the previous golden years of tourism and the massive export sector)

now even if this tourism flow is drying, the foreign money is still flowing here by transfers (Expats with a pension, sponsors stranded abroad with Thai gf\wife \family,  ''investissors'' from China and India and so on, all these people send money from their country to Thailand on a regular basis and the numbers, put together, are huge)

 

 

The amount of money flowing in from Expats and foreign remittances is microscopic relative to domestic household debt.

 

NPL's on mortgages must logically be soaring. 

 

 

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1 hour ago, Senechal said:

 

The amount of money flowing in from Expats and foreign remittances is microscopic relative to domestic household debt.

 

NPL's on mortgages must logically be soaring. 

 

 

I don't think you can compare the foreign money flux with the domestic household debt

 

Thais banks can boast on the first one as it's relatively easy to verify and they can hide the second, well just because it's an internal affair for each Thai bank, so in a total opacity.

 

And in fact this is exactly what they are doing since years, so nothing new for them

 

All is about saving the face in Thailand, all is smoke and mirrors

 

until the s...t hit the fan. like for Thai airways, but it could take few decades

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