uneducated people running Banking systems, we supposedly have educated people running the wests banking systems and look what a f***ing mess they are in, caused the global problem. So don't think you can wave a stick at them there sandymansandman67 wrote: thats because they are too uneducated and misinformed to work out their central banking system and Agriculture and Finance Ministries are more to blame for the fact their very expensive export rice is now unsellable.
Credit Crunch effect on Thailand
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JimmyGreaves
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Diplomacy is the ability to tell a man to go to hell so that he looks forward to making the trip
SM quote "their very expensive export rice is now unsellable."
Me heap no understand
Unless i missed something the price of rice is set in the commodity/futures market bear pits in NEW YORK
I may be out of date but it was 680$ a ton of which the rice farmer gets 180$
Somehow i dont see how the rice farmer is responsible for the 500$ difference
If it is unsellable its the PAD backers who make the 500$ doing it
Me heap no understand
Unless i missed something the price of rice is set in the commodity/futures market bear pits in NEW YORK
I may be out of date but it was 680$ a ton of which the rice farmer gets 180$
Somehow i dont see how the rice farmer is responsible for the 500$ difference
If it is unsellable its the PAD backers who make the 500$ doing it
A Greatfull Guest of Thailand
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HansMartin
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My brother-in-law lives just outside of Bangkok, and imports automobile engines and transmission as well as other auto parts from Japan. He actually goes to Japan and cuts the cars apart himself and ships them back. He then sells the parts to a network of buyers in Thailand and Malaysia. He has been doing this for 20 years and has made a good living.
Right now absolutely no one is buying anything!! I loaned him some money so that he could purchase more inventory. The last two years he made payments on time, doesn't look like I'll get paid this year unless I want some of the engines and transmission sitting around ($1000US ea.)!!
Right now absolutely no one is buying anything!! I loaned him some money so that he could purchase more inventory. The last two years he made payments on time, doesn't look like I'll get paid this year unless I want some of the engines and transmission sitting around ($1000US ea.)!!
I am not in Thailand atm, but my wife calls home every weekend.
Her aunty does massage and has been just as busy as usual, maybe a tiny bit less. Possibly the tourist who she has are regulars though that come every year.
Her cousin and his wife have a noodle bar and that has been fairly slow, not slow enough to pack it up though.
Parents in-law have a convenience shop and have ridden out every previous downfall in the last 20 years, but have noticed the difference.
From what I have heard it seems that 'Thai' spending on services is dropping.
Her aunty does massage and has been just as busy as usual, maybe a tiny bit less. Possibly the tourist who she has are regulars though that come every year.
Her cousin and his wife have a noodle bar and that has been fairly slow, not slow enough to pack it up though.
Parents in-law have a convenience shop and have ridden out every previous downfall in the last 20 years, but have noticed the difference.
From what I have heard it seems that 'Thai' spending on services is dropping.
those posts fearing a lag effect are spot on.
here in UK, it was initially impacting the financial sector (banks, share prices, property prices etc) and that was tough enough. But, now the second wave of it is hitting the real economy - jobs. I'm in my 50's and so went through all the pain of the late 70's and early 80's and have never seen such a bad state of affairs (not just people lossing jobs but even those in work saying they can see NO new business/orders coming in - even 6-9 months ahead). Don't know if the rest of Europe is as bad as the UK but I know the US is - I am often over there for work.
This will hit the rest of world a lot haredr yet and those countries dependent on tourism will get a double whammy (their own economy in recession and a big downturn in tourist revenue).
I work in a pretty senior position within the financial sector and no-one I deal with can even see a way out let alone a turning point.
here in UK, it was initially impacting the financial sector (banks, share prices, property prices etc) and that was tough enough. But, now the second wave of it is hitting the real economy - jobs. I'm in my 50's and so went through all the pain of the late 70's and early 80's and have never seen such a bad state of affairs (not just people lossing jobs but even those in work saying they can see NO new business/orders coming in - even 6-9 months ahead). Don't know if the rest of Europe is as bad as the UK but I know the US is - I am often over there for work.
This will hit the rest of world a lot haredr yet and those countries dependent on tourism will get a double whammy (their own economy in recession and a big downturn in tourist revenue).
I work in a pretty senior position within the financial sector and no-one I deal with can even see a way out let alone a turning point.
I drove Rayong to Bangkok CBD yesterday mid-morning in a little over 90 minutes door to door, average speed 100-110. Never in too many years to remember even on a Sunday have I been able to do that, even from Pattaya which is closer. Very noticeable decrease in truck traffic and all vehicle traffic. The container yards at Lam Chabang and Klong Tuey are filled to overflowing. Very little export going out at the moment. Pete 
Governments are instituted among Men, deriving their just powers from the consent of the governed. Source
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Randy Cornhole
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Randy Cornhole
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It’s there Sarge, but they seem to hide it away in the business section. This morning in the Bangkok Post you have:sargeant wrote:HM,JF,cozza,Pete that is just as i suspected what is surprising is how little of this is or seems to be being reported in the Thai media
My sister in wales reckons the news in the uk is someone reading out company closures and lay offs rather than news
‘Seagate to lay off up to 800 local workers’
‘40,000 auto parts jobs face the axe.’
‘Top rubber producers ready to cut exports further.’
‘Central freezes investment’
And it’s been pretty much the same sort of thing for some while now.
Sarge and all -
I'm no genius but I am really getting tired of the entire world sticking their collective heads in the sand.
There is no "credit crunch". t Governments who practice deficit spending, Companies who leverage themselves silly, and individuals who think credit cards are free money have finally spent themselves into insolvency.
Those who have some money have seen this coming and are hoarding what they have.
The pain isn't going to end until all of these idiots figure out the way out is to pay off your damned debt and stick to a freaking budget. When a United States Senator gets on TV and says "CREDIT is the lifeblood of our economy" you can bet your sweet ass we are in a LOT of trouble. When economists and the supposedly smartest people in the country, no matter which country, think credit is essential to running a business, we are in a LOT of trouble. When governments stop printing more money so those who have made bad decisions and let greed overcome common sense this will be over. I don't see any sign of that realization yet.
You can't have a free market economy without failure.....it's part of the equation we all learned in basic economics classes. When our governments start allowing stupid and or greedy people pay the price for their greed and stupidity we'll be on our way to recovery, but not until then.
CNN aired these idiotic claims ad nauseum with PHD idiots saying things like "without credit businesses won't be able to meet payroll", "without credit, people won't be able to buy groceries yada yada".
The United States Government printed an extra $350 Billion dollars to bail out the banking system and now they're back for more. What the hell did they do with the first $350 Billion?
This isn't going to be over for a couple of years at best, and until then the poorest of us will suffer because they'll lose their income, whatever small savings they might have, and of course have nothing else to fall back on.
It's going to be rough like we've never seen so if you have any means at all to help your friends and family out, get ready to start, because they will surely need it.
I can personally vouch for the exact beginning of the crisis in America. It was February 2006.....not 2007 as the news is reporting. America's housing market died sometime between January and February 2006, which led to all of the greedy bastards who had been betting and winning on the come having more debt and leverage than they could handle, which led to all of them not buying any more, which led to those of us who had any money left not spending it, which has led to increased unemployment and a world economy quickly sliding into darkness.
There's no way out folks until all of those greedy bastards have been removed from the market and reality takes hold. Maybe someone will be smart enough this time to use the power of government to regulate greed, but I doubt it.
Good luck to all of us.
I'm no genius but I am really getting tired of the entire world sticking their collective heads in the sand.
There is no "credit crunch". t Governments who practice deficit spending, Companies who leverage themselves silly, and individuals who think credit cards are free money have finally spent themselves into insolvency.
Those who have some money have seen this coming and are hoarding what they have.
The pain isn't going to end until all of these idiots figure out the way out is to pay off your damned debt and stick to a freaking budget. When a United States Senator gets on TV and says "CREDIT is the lifeblood of our economy" you can bet your sweet ass we are in a LOT of trouble. When economists and the supposedly smartest people in the country, no matter which country, think credit is essential to running a business, we are in a LOT of trouble. When governments stop printing more money so those who have made bad decisions and let greed overcome common sense this will be over. I don't see any sign of that realization yet.
You can't have a free market economy without failure.....it's part of the equation we all learned in basic economics classes. When our governments start allowing stupid and or greedy people pay the price for their greed and stupidity we'll be on our way to recovery, but not until then.
CNN aired these idiotic claims ad nauseum with PHD idiots saying things like "without credit businesses won't be able to meet payroll", "without credit, people won't be able to buy groceries yada yada".
The United States Government printed an extra $350 Billion dollars to bail out the banking system and now they're back for more. What the hell did they do with the first $350 Billion?
This isn't going to be over for a couple of years at best, and until then the poorest of us will suffer because they'll lose their income, whatever small savings they might have, and of course have nothing else to fall back on.
It's going to be rough like we've never seen so if you have any means at all to help your friends and family out, get ready to start, because they will surely need it.
I can personally vouch for the exact beginning of the crisis in America. It was February 2006.....not 2007 as the news is reporting. America's housing market died sometime between January and February 2006, which led to all of the greedy bastards who had been betting and winning on the come having more debt and leverage than they could handle, which led to all of them not buying any more, which led to those of us who had any money left not spending it, which has led to increased unemployment and a world economy quickly sliding into darkness.
There's no way out folks until all of those greedy bastards have been removed from the market and reality takes hold. Maybe someone will be smart enough this time to use the power of government to regulate greed, but I doubt it.
Good luck to all of us.