GBP vs THB

[uncle tom]

Is anyone up to speed on the Thai govt's finances?

The world seems to be moving into two camps - those countries that are getting hopelessly into debt, and those that aren't.

The borrowing nations have a collective need of some $6,000 billion over the next year - far more than appears to be available to be loaned.

This means that for 'borrowing money' one should really think 'printing money', and it's a fair bet that the value of the currencies that are being printed will descend sharply against those that aren't.

So does Thailand have a balanced budget? - or will they be printing Baht just as fast as the UK is printing Sterling, and US, Greenbacks?

Tom

[Khundon1975]

Instead of printing money why not try the following.

Dear Mr. Darling

Please find below my suggestion for fixing Britain's economy.
Instead of giving billions of pounds to banks that will squander the money on lavish parties and unearned bonuses, use the following plan.

You can call it the Patriotic Retirement Plan:


There are about 20 million people over 50 in the workforce.
Pay them £1 million apiece severance for early retirement with the following stipulations:


1) They MUST retire. Twenty million job openings - Unemployment fixed.

2) They MUST buy a new British CAR. Twenty million cars ordered - Automotive Industry fixed.

3) They MUST either buy a house or pay off their mortgage - Housing Crisis fixed.

4) They must send their kids to school/college/university - Crime rate fixed.

5) Buy £50 of alcohol/tobacco a week - there's your money back in duty/tax et cetera.



It can't get any easier than that!

Oh, and if more money is needed, have all members of parliament pay back their falsely claimed expenses and second home allowances.

Could work in Thailand as well.

Just a thought.

[STEVE G]

Is anyone up to speed on the Thai govt's finances?

The world seems to be moving into two camps - those countries that are getting hopelessly into debt, and those that aren't.

The borrowing nations have a collective need of some $6,000 billion over the next year - far more than appears to be available to be loaned.

This means that for 'borrowing money' one should really think 'printing money', and it's a fair bet that the value of the currencies that are being printed will descend sharply against those that aren't.

So does Thailand have a balanced budget? - or will they be printing Baht just as fast as the UK is printing Sterling, and US, Greenbacks?

Tom

They're trying to get into debt:

BANGKOK -(Dow Jones)- The Thai government's plan to borrow THB400 billion ($ 11.6 billion), which is being held up by opposition lawmakers, is expected to be submitted for parliamentary approval in the next two to three weeks, Prime Minister Abhisit Vejjajiva said Thursday.

The Thai government plans to seek a total of THB800 billion in additional funding to help cover a shortfall in revenue collection and finance its fiscal stimulus efforts.

Abhisit said the Ministry of Finance's plan on bond issuance has moved ahead as planned without disruption, despite the government's special decree being delayed.

The Constitution Court Wednesday accepted the opposition Puea Thai Party's petition seeking a ruling on the draft executive decree allowing the government to seek loans of THB400 billion. The party argues it could violate the constitution, which states the government can issue an executive decree to obtain loans only in situations of utmost urgency,

[Super Joe]

Heading in right direction, source BBC:



SJ

[norm]

Instead of printing money why not try the following.

Dear Mr. Darling

Please find below my suggestion for fixing Britain's economy.
Instead of giving billions of pounds to banks that will squander the money on lavish parties and unearned bonuses, use the following plan.

You can call it the Patriotic Retirement Plan:


There are about 20 million people over 50 in the workforce.
Pay them £1 million apiece severance for early retirement with the following stipulations:


1) They MUST retire. Twenty million job openings - Unemployment fixed.

2) They MUST buy a new British CAR. Twenty million cars ordered - Automotive Industry fixed.

3) They MUST either buy a house or pay off their mortgage - Housing Crisis fixed.

4) They must send their kids to school/college/university - Crime rate fixed.

5) Buy £50 of alcohol/tobacco a week - there's your money back in duty/tax et cetera.



It can't get any easier than that!

Oh, and if more money is needed, have all members of parliament pay back their falsely claimed expenses and second home allowances.

Could work in Thailand as well.

Just a thought.

Pay 20 million people 1 million each requires 20 trillion pounds. The whole world would have problems coming up with that amount.

[uncle tom]

They're trying to get into debt:

BANGKOK -(Dow Jones)- The Thai government's plan to borrow THB400 billion ($ 11.6 billion), which is being held up by opposition lawmakers, is expected to be submitted for parliamentary approval in the next two to three weeks, Prime Minister Abhisit Vejjajiva said Thursday.

The Thai government plans to seek a total of THB800 billion in additional funding to help cover a shortfall in revenue collection and finance its fiscal stimulus efforts.

Better, from our point of view, that they are borrowing; but even after adjusting for differences in GDP, this is peanuts compared to what is happening in the UK and US...

Tom

[uncle tom]

Dear Mr. Darling ..

Better that he does a special retirement deal with the Thai govt.

Have you any idea how much the over 50's cost the NHS? - and how much cheaper that treatment would be in Thailand?

Free flights, free healthcare, no silly visa and home ownership restrictions, full UK pensions, lots of lovely foreign exchange into the Thai economy and good jobs in the healthcare business, not to mention loads of nice family houses freed up for young people back in Blighty.

Everyone would be a winner..

Tom

[cookmanchef]

Uncle Tom,

The truth is there is no simple answer to your question in the current market. In the past certain formula could be applied and a forecast could be made, not now. The financial world has NEVER seen anything like this so it is all about opinions.

Here's mine, I'm English so lets start there, easiest nation to talk down and be critical of but it's the most resilient and resourceful country on this Earth. The UK will not collapse into bankruptcy, Brits are innovative and entrepreneurial people and along with our language this will always create wealth, (just wish the thieves in charge didn't use it the way they do now).

The US, it cannot fail because if it does we all fail, it created the current banking/ financial market and until now it has stimulated growth throughout the world the like of which we've never seen before.

China, the new world financial leader from 2015/17 onwards, it's easy to to achieve when you are so big and don't have to meet the social requirements that democracy demands.

Japan, the biggest grower of the next decade, so many great companies with great products.

Thailand, a nation with so much potential, and in my opinion after a bad 2009, 2010 will see the start of a revival. When the world has stabilised then currencies will be more controllable, the baht cannot be too strong as we rely on exports.

I'm bored myself now so just to say 2010: -

£ = 60-65 baht
$ = 35.79 baht exactly
Swiss Franc = Who gives a

[uncle tom]

Here's mine, I'm English so lets start there, easiest nation to talk down and be critical of but it's the most resilient and resourceful country on this Earth. The UK will not collapse into bankruptcy, Brits are innovative and entrepreneurial people and along with our language this will always create wealth, (just wish the thieves in charge didn't use it the way they do now).

Broadly agree. We won't formally default on our sovereign debts, but there's one hell of a risk of runaway inflation. Our ability to be resourceful though is eternally scuppered by the Brussels factor - we need to break free..

The US, it cannot fail because if it does we all fail, it created the current banking/ financial market and until now it has stimulated growth throughout the world the like of which we've never seen before.

I have this horrible feeling that the Yanks are going to see a rebound in their economic fortunes long before we do, but they are also in severe danger of high inflation.

China, the new world financial leader from 2015/17 onwards, it's easy to to achieve when you are so big and don't have to meet the social requirements that democracy demands.

Knowing China very well, I would bring your estimate of dates forward by five years; in fact, I'm surprised they haven't promoted the Yuan as a reserve currency already.

Japan, the biggest grower of the next decade, so many great companies with great products.

But also in an appalling mess financially now. They need to grasp the concept and benefits of trade equilibrium.

Thailand, a nation with so much potential, and in my opinion after a bad 2009, 2010 will see the start of a revival. When the world has stabilised then currencies will be more controllable, the baht cannot be too strong as we rely on exports.

It can only get better; but there also seems to be an intrinsic chaos factor in Thailand - just when things seem to be coming together, they always manage to shoot themselves in the foot..

..all part of the charm, I suppose..

Tom

[Khundon1975]

Instead of printing money why not try the following.

Dear Mr. Darling

Please find below my suggestion for fixing Britain's economy.
Instead of giving billions of pounds to banks that will squander the money on lavish parties and unearned bonuses, use the following plan.

You can call it the Patriotic Retirement Plan:


There are about 20 million people over 50 in the workforce.
Pay them £1 million apiece severance for early retirement with the following stipulations:


1) They MUST retire. Twenty million job openings - Unemployment fixed.

2) They MUST buy a new British CAR. Twenty million cars ordered - Automotive Industry fixed.

3) They MUST either buy a house or pay off their mortgage - Housing Crisis fixed.

4) They must send their kids to school/college/university - Crime rate fixed.

5) Buy £50 of alcohol/tobacco a week - there's your money back in duty/tax et cetera.



It can't get any easier than that!

Oh, and if more money is needed, have all members of parliament pay back their falsely claimed expenses and second home allowances.

Could work in Thailand as well.

Just a thought.

Pay 20 million people 1 million each requires 20 trillion pounds. The whole world would have problems coming up with that amount.

Norm

You and I can do the maths but I was hoping to slip that one past Mr Darling.

Damn, now I will miss out on my Million.
Thanks for that.

[norm]

Instead of printing money why not try the following.


There are about 20 million people over 50 in the workforce.
Pay them £1 million apiece severance for early retirement with the following stipulations:



Just a thought.

Pay 20 million people 1 million each requires 20 trillion pounds. The whole world would have problems coming up with that amount.

Norm

You and I can do the maths but I was hoping to slip that one past Mr Darling.

Damn, now I will miss out on my Million.
Thanks for that.

Ok I will not tell anyone.

[MrPlum]

The UK & US turned their economies into 'service' economies. They have created asset bubbles upon which they have gambled, with way too much leverage. It would take them at least 10 years to become manufacturer or producer nations and they would be still behind other nations. Instead they are attempting to breathe life back into the asset bubble corpse with huge amounts of fiat money. Trouble is, there are no cheap assets left to inflate.

Can you see the mega-corporations changing their policies with regard to exporting jobs? They are still doing it, even now. It's economic suicide. Where are the taxes going to come from when no-one has a job or are on part-time and slave wages? How are the consumers going to borrow and spend when the county is in a depression.

I'm still seeing the pound at 40.

[norm]

The UK & US turned their economies into 'service' economies. They have created asset bubbles upon which they have gambled, with way too much leverage. It would take them at least 10 years to become manufacturer or producer nations and they would be still behind other nations. Instead they are attempting to breathe life back into the asset bubble corpse with huge amounts of fiat money. Trouble is, there are no cheap assets left to inflate.

Can you see the mega-corporations changing their policies with regard to exporting jobs? They are still doing it, even now. It's economic suicide. Where are the taxes going to come from when no-one has a job or are on part-time and slave wages? How are the consumers going to borrow and spend when the county is in a depression.

I'm still seeing the pound at 40.

People are creatures of habit and unfortunately a majority of the people in the US and Uk are in the habit of if you want it buy it. No thought as to how to pay for it. They used the increase in property value as a reason to have a holiday or buy the latest toy. Now those property values have tumbled and they just can't get out of the want it buy it attitude or addiction.

Once it catches up with them they will blame the banks or the government or both for their problems. Can't believe it was from their own actions that they are in the mess they are in.

But even the people who don't spend what they don't have are losing their jobs and suffer the same lose of property. But as you pointed out it is going to take a long time to get things right.

Glad I'm living in LOS.

[caller]

Its kind of weird reading the posts on here with all the doom and gloom which contrasts so much with my life in the UK. Sure its got harder, but I still see people going about their daily business, my drive to work is as frenetic as ever, shops are busy, many recording record profits, UK based holiday companies are doing the best they have for years due to the weak pound in europe, affecting several countries, holidays and flights further afield are picking up, flights (amazingly) are cheap - Oz for less than 500 quid on Qantas!!! The sun is shining, families are enjoying the facilities of the sports club I live opposite and life goes on.

Sometimes, I don't recognise my Country from the posts expressed here, usually by ex-pats!

[kendo]

Caller,
Very good post yes, i have been hit by this credit cruch but my attitude is work a bit harder, by occupation has shrunk driving super post panamax cranes handling containers, but i belive work harder and keep your standard of living.
Last year i started to struggle a little bit , after building a large gaff up in Surin, and thought do something else that you know well, i have a class one HGV licence thats my back ground, so i perchased an ageing hi cube van and i do courier work light haulage and small removals,on my days off it's been up and down from month to month but i just feel from my heart be proud of myself and the potential is there so keep fighting and dont be soft.

It'S very very very cheap media to keep talking doom and gloom and the ecconomy down, and if it doe's not fall so much they get some praise, it's also very easy to sex the ecconomy up.

So i dont understand why people come on to this great forum and be so negative about HH and this forum, it's a great place to be, if everyone on here took small positive steps in there own life's and on here it would be good.

Kendo.