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  1. #1
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    StrontiumDog's Avatar
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    Economists back budget deficit policy

    Bangkok Post : Economists back budget deficit policy


    Economists back budget deficit policy

    • Published: 17/08/2010 at 10:41 AM
    • Online news: Economics


    Bangkok Poll reports that 85.10 per cent of the economists surveyed recently support the government’s budget deficit policy to boost the Thai economy.


    But most of them said the government should maintain the budget deficit ratio to gross domestic product at less than 4.1 per cent, the Bangkok University pollsters reported on Tuesday morning.


    A total of 58.1 per cent of the respondents said the current public debt of 42.6 per cent to GDP was not a problem of concern as the government is capable of managing it; 35.1 per cent of them believed the government would be able to introduce a balance fiscal budget system in 2015 as planned.


    However, 71.6 per cent of the polled economists thought the government was not well-prepared to introduce a policy of social welfare for the elderly in the near future.


    Nearly 39 per cent of them suggested the government impose taxes on land and buildings to increase revenue and get ready for the welfare state's implementation and to minimise social inequality.


    Bangkok Poll sought opinions from economists working in leading state agencies and private firms on Aug 5-9.
    "Slavery is the daughter of darkness; an ignorant people is the blind instrument of its own destruction; ambition and intrigue take advantage of the credulity and inexperience of men who have no political, economic or civil knowledge. They mistake pure illusion for reality, license for freedom, treason for patriotism, vengeance for justice."-Simón Bolívar

  2. #2
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    Sad to see that Thailand is falling for Keynesian economics. The worst and most flawed economic theory ever.

    I am a student of Austrian economics which takes the opposite view, that has the only proven theory.

  3. #3
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    Mr Lick's Avatar
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    ^ Are we in for another crash do you think?

  4. #4
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    Quote Originally Posted by StrontiumDog
    Bangkok Poll sought opinions from economists working in leading state agencies and private firms on Aug 5-9.
    Gonna need to do better than that...

  5. #5
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    Quote Originally Posted by Mr Lick View Post
    ^ Are we in for another crash do you think?
    Not in Thailand but for the US, yes.

    Although Thailand and most other SE Asian central banks must divest themselves of US treasuries. Thailand holds too many of them and if they don't diversify into gold or other currencies, they will take huge losses.

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