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  1. #1
    Suspended from News & Speakers Corner chingching's Avatar
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    Is Thailand in a bubble ??

    Maybe, at least that's what some of the country's most prominent businessmen seemed to suggest during a forum on Thursday, the Bangkok Post reported.

    Boonchai Bencharongkul, an executive at the mobile operator DTAC, Sawasdi Horrungruang, who founded NTS Steel Group, and Prachai Leophairatana, a founder of Thai Petrochemical Industry, said they were concerned that the Thai government's populist policies could backfire.

    "I think the current situation is worrisome. As one of those who had such an experience, I can smell it now. People are rushing and competing to buy condos while more and more people are driving Ferraris. These are the same things we saw before the 1997 crisis occurred," Boonchai said.

    Bencharongkul, Horrungruang and Leophairatana were all burned badly during the financial crisis of the late 1990s, and they don't seem to have forgiven what they see as government's role in depleting their fortunes.

    "[The 1997 crisis] was the government's failure. And the government should have protected investors ... I'm still sad that the government did not help [Thai companies] but just made things worse," Leophairatana said.

    So is it time to make a run on the banks or move your cash into foreign accounts? We at Coconuts have no business commenting on this stuff and after all the rich dudes seem to think this time is different.

    "This time, the nature of the crisis might be different,"
    said Boonchai. "Last time it was the private sector that went bankrupt, but this time we might see the government collapse."

    Well, that is reassuring.

    Is the Thai economy in a bubble?

  2. #2
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    Tom Sawyer's Avatar
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    Quote Originally Posted by chingching View Post

    ... they were concerned that the Thai government's populist policies could backfire.

    ... I can smell it now. People are rushing and competing to buy condos while more and more people are driving Ferraris.
    Yep, those populist policies like a cheap tablet computer for every kid in school, a minimum guarantee for subsistence rice farmers and a (now lapsed) subsidy on buying a small car (e.g. little tin can) is making more people buy Ferraris and purchasing over-priced condos. Typical Sakdina logic of some dickhead who's father bought his MBA. God help the real people of Thailand defeat these stupid thai-chink elites.
    My mind is not for rent to any God or Government, There's no hope for your discontent - the changes are permanent!

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    Quote Originally Posted by Tom Sawyer View Post
    Quote Originally Posted by chingching View Post

    ... they were concerned that the Thai government's populist policies could backfire.

    ... I can smell it now. People are rushing and competing to buy condos while more and more people are driving Ferraris.
    Yep, those populist policies like a cheap tablet computer for every kid in school, a minimum guarantee for subsistence rice farmers and a (now lapsed) subsidy on buying a small car (e.g. little tin can) is making more people buy Ferraris and purchasing over-priced condos. Typical Sakdina logic of some dickhead who's father bought his MBA. God help the real people of Thailand defeat these stupid thai-chink elites.
    Problem here is with the short term thinking of "the real people" Especially here in Issan all the Thai Chink elites have to do is give them an envelope with 500 baht inside ,plus promise them policys which only a complete cretin would believe, and its another 4 year trip for the elite on the corruption "gravy train" or in other words "the real people" are their own worst enemies , and the Thai chinks are far from stupid ,that,s why they have run Thailands politics and commerce for donkeys years , and they will continue to do so until the "real people" finally grasp the simple concept that there actually is such a thing as "tomorrow"

  4. #4
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    Of course it's in a bubble. A bubble of pussy, corruption and sunshine.

    And let me tell you - there's worse bubbles to be in

  5. #5
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    Perhaps a bubble of a bygone era is preferable....

  6. #6
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    If the Thai rich want to get their money out good for them, there seems to be plenty from outside that want to buy in.
    Guy says the Government should have saved the rich from losing money in 1979, it it's a free market, you win some and lose some.
    Sounds like the bankers in the west. we are too big to fail, tax payers need to bail us out. Jim

  7. #7
    Days Work Done! Norton's Avatar
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    Quote Originally Posted by chingching
    "[The 1997 crisis] was the government's failure.
    What a crock. Twas the lenders, borrowers and land developers.

    Quote Originally Posted by chingching
    I'm still sad that the government did not help [Thai companies] but just made things worse,"
    They made the bed. Let em sleep in it.

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    Quote Originally Posted by jamescollister View Post
    If the Thai rich want to get their money out good for them, there seems to be plenty from outside that want to buy in.
    Guy says the Government should have saved the rich from losing money in 1979, it it's a free market, you win some and lose some.
    Sounds like the bankers in the west. we are too big to fail, tax payers need to bail us out. Jim
    Excuse me, Jim......free market?
    Where?

    Perhaps, you're confusing a highly controlled and manipluated market with an open and free one.

    Largely, is the case worldwide.

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    Quote Originally Posted by Norton
    What a crock. Twas the lenders, borrowers and land developers.
    No kidding. Hard to believe anyone could actually think that.

    Probably just hoping no one will notice it wasn't a Thaksin administration at the time.

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    Quote Originally Posted by mao say dung View Post
    Quote Originally Posted by Norton
    What a crock. Twas the lenders, borrowers and land developers.
    No kidding. Hard to believe anyone could actually think that.

    Probably just hoping no one will notice it wasn't a Thaksin administration at the time.
    Norty does point to the obvious and truisms.

    It's all related - think back now....who was PM during the sudden devalue of the Baht and so-called regional market crash?

    What interest was he proncipally involved?

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    Quote Originally Posted by Rural Surin View Post
    Quote Originally Posted by jamescollister View Post
    If the Thai rich want to get their money out good for them, there seems to be plenty from outside that want to buy in.
    Guy says the Government should have saved the rich from losing money in 1979, it it's a free market, you win some and lose some.
    Sounds like the bankers in the west. we are too big to fail, tax payers need to bail us out. Jim
    Excuse me, Jim......free market?
    Where?

    Perhaps, you're confusing a highly controlled and manipluated market with an open and free one.

    Largely, is the case worldwide.
    It's a free market for the big players, big company's, banks will eat up competitors. No gentleman's agreements in that world. When things cash others buy up at 10 cents on the dollar and make money from it. Way of the world. Jim

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    Ahh yes I remember it oh so well when the gruesome twosome was in Charge, Chavalit as Prime minister and Thaksin as Deputy Prime Minister , there was a very strong rumour going round at the time that both of them made hundreds of millions when they both knew in advance that the Baht would crash dive to below periscope level , of course I did not believe a word at the time, being both of them was beyond reproach and icons of the truth and integrity , and over the years my faith in Thaksin as an honest and decent sort has never been proved wrong

  13. #13
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    Quote Originally Posted by piwanoi View Post
    Quote Originally Posted by Tom Sawyer View Post
    Quote Originally Posted by chingching View Post

    ... they were concerned that the Thai government's populist policies could backfire.

    ... I can smell it now. People are rushing and competing to buy condos while more and more people are driving Ferraris.
    Yep, those populist policies like a cheap tablet computer for every kid in school, a minimum guarantee for subsistence rice farmers and a (now lapsed) subsidy on buying a small car (e.g. little tin can) is making more people buy Ferraris and purchasing over-priced condos. Typical Sakdina logic of some dickhead who's father bought his MBA. God help the real people of Thailand defeat these stupid thai-chink elites.
    Problem here is with the short term thinking of "the real people" Especially here in Issan all the Thai Chink elites have to do is give them an envelope with 500 baht inside ,plus promise them policys which only a complete cretin would believe, and its another 4 year trip for the elite on the corruption "gravy train" or in other words "the real people" are their own worst enemies , and the Thai chinks are far from stupid ,that,s why they have run Thailands politics and commerce for donkeys years , and they will continue to do so until the "real people" finally grasp the simple concept that there actually is such a thing as "tomorrow"
    If it wasn't for the "chink elites", the "real people" of this country would still be ankle-deep in shit, pointing at the moon.

  14. #14
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    Quote Originally Posted by kmart View Post
    Quote Originally Posted by piwanoi View Post
    Quote Originally Posted by Tom Sawyer View Post
    Quote Originally Posted by chingching View Post

    ... they were concerned that the Thai government's populist policies could backfire.

    ... I can smell it now. People are rushing and competing to buy condos while more and more people are driving Ferraris.
    Yep, those populist policies like a cheap tablet computer for every kid in school, a minimum guarantee for subsistence rice farmers and a (now lapsed) subsidy on buying a small car (e.g. little tin can) is making more people buy Ferraris and purchasing over-priced condos. Typical Sakdina logic of some dickhead who's father bought his MBA. God help the real people of Thailand defeat these stupid thai-chink elites.
    Problem here is with the short term thinking of "the real people" Especially here in Issan all the Thai Chink elites have to do is give them an envelope with 500 baht inside ,plus promise them policys which only a complete cretin would believe, and its another 4 year trip for the elite on the corruption "gravy train" or in other words "the real people" are their own worst enemies , and the Thai chinks are far from stupid ,that,s why they have run Thailands politics and commerce for donkeys years , and they will continue to do so until the "real people" finally grasp the simple concept that there actually is such a thing as "tomorrow"
    If it wasn't for the "chink elites", the "real people" of this country would still be ankle-deep in shit, pointing at the moon.
    Yeah Kmart it really hurts em when you tell the crippling truth , but the "Stupid" Thai Chinese OWN this Country lock stock and barrel both commercially and politically and have done so for decades ,any one who thinks any different should seek urgent medical help.

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    Maybe what should happen here in Thailand is a revolution ,ya know a sort of by the people for the people, and drive out all these stupid Thai Chinese elite business people who have been exploiting (employing) them for years , a bit like when Idi Amin drove out all the Ugandan Asians out out of Uganda and give the business's to the "real people" however as I sadly recall after that for some strange reason the economy quickly went into "meltdown" in no time at all!

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    Quote Originally Posted by piwanoi
    "the real people" are their own worst enemies
    Apparently not- Thailand is doing well under the Yingluck administration, and if the 'real people' had not stood up for their democratic rights, we'd still have the democrat crony club in (illegitimate) power, making sure all of the benefits were being creamed off for a connected few. Particularly good that Thailand is doing well on a regional/ provincial basis too.

    As for the inevitable doomsayers, it goes like this- if Thailand is doing well- we're in a Bubble, if Thailand is not- it's all Thaksins fault. I'd trust the peoples vote for whom should run the country over the machinations of a few connected Bangkok elites, anyday. The results seem to back me up.

    Maybe what should happen here in Thailand is a revolution
    Already happened- you're a few years late piwi.
    probes Aliens

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    ^ Do you really think I believe in that Revolution crap, that,s for lefties like you!

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    No, I don't- I believe in evolution, not revolution. The real revolution that happened in Thailand was the Coup- and finally, the people re-asserted their authority. Thailand is the better for it.
    No point arguing left/right with you piwi- thats like an ambidextrous person debating with a spastic.

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    Quote Originally Posted by sabang View Post
    No, I don't- I believe in evolution, not revolution. The real revolution that happened in Thailand was the Coup- and finally, the people re-asserted their authority. Thailand is the better for it.
    No point arguing left/right with you piwi- thats like an ambidextrous person debating with a spastic.
    Thailand is the better for it?Really? were did you read that crock from?, off a slip of paper in a Christmas Cracker sorry to burst your bubble ,but these are the facts Household debt could stall growth | Bangkok Post: business

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    I believe economic facts piwi, sorry but your biased opinions just do not belong on the same page. If you are so worried about Debt, perhaps you could have a word in your own governments ear.

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    Quote Originally Posted by sabang View Post
    I believe economic facts piwi, sorry but your biased opinions just do not belong on the same page. If you are so worried about Debt, perhaps you could have a word in your own governments ear.
    My Biased opinions ? get a grip FFS, thats an article from the Bangkok post you refuse to read

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    Hey Sabang I am beginning to think that you are in a bubble too , only your bubble is not transparent! , house hold debt in Thailand is now at a record high , here is another Article which agrees with the Other biased link from the BP ,talk about the "blind being led by the blind"Thai household debt skyrockets: survey - BUSINESS - Globaltimes.cn

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    The poor guy has an inferiority complex. Well justified, I might add. Go worry about muzzies piwi, theres a good codger. This dismal science is not for you.

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    Quote Originally Posted by sabang View Post
    The poor guy has an inferiority complex. Well justified, I might add. Go worry about muzzies piwi, theres a good codger. This dismal science is not for you.
    It does not take science to read an article,and Instead of writing complete off topic bollox why not prove me wrong? house hold debt has rocketed in Thailand and is now at a record high, and in the last year alone has gone up by a massive 12% ,if thats what you call a Success ISAF don't wanna see what you call a failure

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    Piwi, you are so far out of your depth it is downright embarassing. Check out the percentage of non-performing loans, and tell me about this bubble. Leave it to the grey men piwi, thats why we have central banks, treasury departments, fickle and moneytree policy, and other funny things like that. Thats where the grey men live piwi, and they're special, just like you.


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