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Thaksin Outlines Grand 5-year Plan


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Savings hub? Don't make me laugh. Outside the top 10 - 20 % of earners I doubt if there's much more than a few hundred billion baht in genuine savings out there. Even at 650 billion, that still works out at only 10,000 baht for each person in the country, which ain't a lot, when one considers the levels of public and private debt. Nearly everyone is up to their eyeballs in debt and it's accumulating fast. Check out the used car sales "tents" to see the rate of repos and people trying to get out of debt. The bubble look's pretty near to bursting in some sectors I'd say, but the property sector might have a year or two to play out.

Outside the top 10-20% top earners, it's not really a big deal if everyone else is saving, since we control 80-90% of the economy. Check out the used car tents to see the nouveau riche decidedly finding out that they are not so 'riche.' The dealership owner was still paid in full. Check out the assets of those in the manufacturing and agricultural exports sector who have been laughing for the last 7 years now at 40 Baht per US$ when it still costs us 25 Baht per US$ in labor and most local/non imported resources/raw materials.

I hope the bubble bursts soon (as naysayers have been saying since 1997.... which if they keep saying that between now and 100 years from now, they'll probably 'be right' eventually one of these years) so that property auctions can more easily redistribute those assets within the "top 10-20%" as it was back in 1997. One person's economic crisis is another's shopping spree (for well established locals AND foreigners).

:o:D

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...

I hope the bubble bursts soon (as naysayers have been saying since 1997.... which if they keep saying that between now and 100 years from now, they'll probably 'be right' eventually one of these years) so that property auctions can more easily redistribute those assets within the "top 10-20%" as it was back in 1997.  One person's economic crisis is another's shopping spree (for well established locals AND foreigners). 

:D  :D

I'm with you bro, this be the wave I'm hoping to ride;

why else would I move to LoS?

Hope my timings' right.

:o

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The term 'luk nong' ('child-younger sibling' or employee) goes along with how we treat our workers. They are more like family than just people to be laid off in droves every time sales don't meet our shareholder profit targets. Layoffs in the west are so common that you'll find a layoff announcement of some size in nearly every single issue of the Wall Street Journal. In many cases it'll maybe affect the stock price less than 1%, and for maybe a few days at most.

For example in my own family, my cousin happens to own the largest family business, a modest plastic injection molding plant, just 120+ employees back in '97, semi skilled labor and a half dozen office staff. During the downturn (which for us was maybe 6 months in 1997), when we were still geared towards domestic sales, we could have run the whole thing with 20 employees. Instead, we reduced shifts, half day for the office staff with an extra day off, and no one lost a job. No one had to wonder what they would do for food or housing (which we could provide anyway if things came down to that). No one had to go somewhere else, hat in hand, hoping to find a new job.

That's real empathy, not just some feel good gesture like adopting a bargirl and her family and saying that the hi-so's don't do enough for society.

:o

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hahaha... thanks for the good laugh, Heng.

if there wasn't so much worker exploitation in Thailand, it might have meant more. If the difference between rich and poor wasn't growing so quickly on daily basis, it might have meant more. If the super rich (sorry you don't qualify yet) had an ounce of true sincerity, it definitely would have meant more.

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war on corruption starts Oct 3, general elections early next year... hhmmm...

"''The case being brought against Chamlong is disturbing. We are afraid the government may use the war against corruption to go after its political opponents,'' Nirand Pithakwatchara, who chairs the human security and social development committee in the Senate, said in an interview."

Not much will happen on the first day..... Oct 3rd is a SUNDAY :o

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hahaha... thanks for the good laugh, Heng.

if there wasn't so much worker exploitation in Thailand, it might have meant more. If the difference between rich and poor wasn't growing so quickly on daily basis, it might have meant more. If the super rich (sorry you don't qualify yet) had an ounce of true sincerity, it definitely would have meant more.

Regardless, it's a true accounting of what I feel is the norm for SME's in Thailand. Job security may not mean anything to you, but it does for those who work in factories to live and feed their families. I notice you don't have any real life examples of your broad generalizations? Just a gut feeling analysis, eh?

The growing gap between the rich and poor is a norm that has been a constant since the dawn of commerce. Some people run faster, some are slower. Some people prosper financially, others wither. Just another form of natural selection.

:D:o

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Regardless, it's a true accounting of what I feel is the norm for SME's in Thailand. Job security may not mean anything to you, but it does for those who work in factories to live and feed their families. I notice you don't have any real life examples of your broad generalizations? Just a gut feeling analysis, eh?

The growing gap between the rich and poor is a norm that has been a constant since the dawn of commerce. Some people run faster, some are slower. Some people prosper financially, others wither. Just another form of natural selection.

:D:o

example: Hundreds, if not thousands, of people work in factories as day laborers in places like paknam. paid 150-200 per day with no job security at all... "today you work, tomorrow not sure, come back tomorrow and we will see".

the main difference between rich and poor is not because of the stated physical differences ( i dare say a poor man can kick a rich man's butt anyday )... it's one of opportunity. keep the poor dumb and uneducated and you automatically limit their opportunity and thus any challenge to the status quo.

Level the playing field and just see who prospers.

as for natural selection, as it's a biological phenomenon... I'm guessing the rich don't really want that to happen... again, the lean and hungry worker will physically defeat the fat cat big shot.

actually there is nothing "natural" about the oppression suffered by the poor in Thailand and elsewhere.... it's purely man-made.

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example: Hundreds, if not thousands, of people work in factories as day laborers in places like paknam. paid 150-200 per day with no job security at all... "today you work, tomorrow not sure, come back tomorrow and we will see".

the main difference between rich and poor is not because of the stated physical differences ( i dare say a poor man can kick a rich man's butt anyday )... it's one of opportunity.  keep the poor dumb and uneducated and you automatically limit their opportunity and thus any challenge to the status quo.

Level the playing field and just see who prospers.

as for natural selection, as it's a biological phenomenon... I'm guessing the rich don't really want that to happen... again, the lean and hungry worker will physically defeat the fat cat big shot.

actually there is nothing "natural" about the oppression suffered by the poor in Thailand and elsewhere.... it's purely man-made.

Wow, thousands? 'Employment at will' not unlike the millions of people who are waiters, waitresses, bartenders, valets, etc. etc. anywhere in the world. There's no guaranty any of these people will be employed tomorrow. Even then your example is still quite vague at best.

There is no main difference between rich and poor, other than an overall sum total over the generations (whether you want to count thousands or years or hundreds of thousands of years) of how people interact with their environment XX% nature (mostly genetics) and XX% nurture. Opportunity is a constant for those who wish to take them. For those who do not (either through fear or a lack of ability), opportunity is something that will be perpetually non-existant. Lack of education? Who educated the very first humans? Yet there must have been an early human who had the most underlings, nicest cave, and most plentiful store of beef jerky.

:o

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The growing gap between the rich and poor is a norm that has been a constant since the dawn of commerce.  Some people run faster, some are slower.  Some people prosper financially, others wither.  Just another form of natural selection.

Social darwinism; i.e., the game the rich play of blaming the victim. Sorry, Heng, this was pretty well discredited back when people realized there was no ideal capitalism, and goes hand-in-hand with economic racism- but then, you always were right out of the Victorian era, weren't you?

"Steven"

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"natural selection" refers to genetic-linked abilities. There's no evidence of genetic linkage to financial performance in a given system (normalized by exponentially increasing degrees of difficulty as starting resources are reduced)- except in the minds of those who might happen to be loudmouthed self-congratulating peasant-ravaging thugs who need to justify themselves as they crawl up on others' backs, to dehumanize those who are trodden upon. Not that that characterizes anyone around here, of course.

"Steven"

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Well teach, before we get into a semantics war... as I said, it's the sum of everyone's 'genetic + nurtured' lineage. No evidence of a study reaching over thousands of years to compare genetic lines that tend to leave nothing to its offspring in terms of finances, life lessons, AND whatever genetics make up predispositions to do so, to those that do? I wonder why. You may not want to call it natural selection, but I do.

Why do your arguments always turn into name calling, Steve? Since when did you turn in your fan club badge?

:D:o

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The term 'luk nong' ('child-younger sibling' or employee) goes along with how we treat our workers. They are more like family than just people to be laid off in droves every time sales don't meet our shareholder profit targets. Layoffs in the west are so common that you'll find a layoff announcement of some size in nearly every single issue of the Wall Street Journal. In many cases it'll maybe affect the stock price less than 1%, and for maybe a few days at most.

For example in my own family, my cousin happens to own the largest family business, a modest plastic injection molding plant, just 120+ employees back in '97, semi skilled labor and a half dozen office staff. During the downturn (which for us was maybe 6 months in 1997), when we were still geared towards domestic sales, we could have run the whole thing with 20 employees. Instead, we reduced shifts, half day for the office staff with an extra day off, and no one lost a job. No one had to wonder what they would do for food or housing (which we could provide anyway if things came down to that). No one had to go somewhere else, hat in hand, hoping to find a new job.

That's real empathy, not just some feel good gesture like adopting a bargirl and her family and saying that the hi-so's don't do enough for society.

:o

Heng, is your cousin's name Tao, from Bangbuatong?

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