^ Because as of today, Thailand is officially in recession.....
^ Because as of today, Thailand is officially in recession.....
Yup, sounds about rightOriginally Posted by Thormaturge
Thailand has fallen into recession after the economy shrank unexpectedly in the second quarter of the year.
The 0.3% contraction in gross domestic product between April and June followed a previous fall of 1.7% during the first quarter of 2013.
Previously, Thailand had been recording strong economic growth, outpacing other economies in the region, with expansion of more than 6% during 2012.
Many analysts had expected this performance to continue.
Sanjay Mathur, head of economics research at RBS, told the BBC that weak exports and domestic demand, plus fading business confidence, were to blame for the downturn.
"The fundamental problem here is that it's not just about exports, it is about domestic demand."
"We should be looking at growth of about 3.5%," he said. "In the early part of the year, expectations were that Thailand would be forging ahead of several Asian economies, so that has been a big disappointment."
The end of large-scale government investment projects following the devastation caused by flooding at the end of 2011 has also been cited as a cause for the fall in domestic consumption, which accounts for about half of economic output.
By the end of 2012 Thailand's growth was exceeding expectations, with gross domestic product in the October-to-December period jumping by 18.9% from a year earlier.
However, high household debt, and rising prices have continued to cause concern, and following a cut in interest rates in May, the Bank of Thailand left rates unchanged at 2.5% at its last meeting.
You, sir, are a God among men....
Short Men, who aren't terribly bright....
More like dwarves with learning disabilities....
You are a God among Dwarves With Learning Disabilities.
ASEAN will give Thailand the kick up the arse it needs. They don't heed us pale faces, but their next door neighbours taking their jobs will liven them up
Creating domestic demand by increasing the credit supply needs regulation - allowing inflation into the system brings its own pressure and competitiveness can suffer. Boom and bust, increased borrowing to finance public debt, infrastructure and social programmes will all affect the baht which to date has been underpinned by growth dependent on China, trade with the EU and historic inflows arising from QE by the US etc. which are likely to taper away into economic oblivion as the tool of choice by central banks.
The trajectory is flattening and exports are falling. The rice farce and internal divisions within Thaksin's government as they squabble to steal evermore from the economy bodes ill for political stability in the near term.
The baht is a poor bet for so many reasons and folk holding it should consider off loading sooner than later. The markets are giving you the signal. Thailand is entering a new phase and their endemic corruption will become increasingly significant.
Jesus, The Aussie dollar is dropping quicker than a whores draws.
Foking pissed off I am.
I agree. Thailand has decide whether to return to the mercantilist model based on competitive exports (=cheaper baht) or the pumped up credit/pointless construction (except as a place for the rentier class to park money)/overconsumption model that favors the upper-upper-class and allows the plebes to appear wealthy (look at that new Isuzu!) until they realize they are bust. Also, in the future paying back creditors you borrowed from when the baht was 30/$1 with baht that are worth 40/$1 will be appealing. Look at what Japan is doing. . .
“You can lead a horticulture but you can’t make her think.” Dorothy Parker
I see the £ is trading at 49.57.
The Aussie $ was stupidly over priced by a market obsessed by all things Chinese. Just watch that ridiculously inflated property bubble go pop and their silly labour rates slide.
Australia is essentially a coon economy reliant upon the export of ore and minerals. They have no domestic market capable of maintaining stimuli and are essentially isolated in a region which discriminates against them.
I see the bank rates for the £ but can anyone let me know what you can get in the exchange bureaus, like Vasu in Sukhumvit please.
Ripped off.Originally Posted by Bower
Probably.
Currency / Baht Bank Note
Sell------- Buy
EUR 42.85--- 41.67
GBP 50.34--- 48.66
HKD 4.21--- 3.95
JPY 33.24 --- 31.90
USD 31.9--- 31.2
AUD 29.50--- 28, 90
à¸[at]ัตราà¹à¸¥à¸à¹€à¸›à¸¥à¸µà¹ˆà¸¢à¸™ ธนาคารไทยพาณิชย์ - SCB Currency Exchange Rates
SET index down 27.62 pointsThe Stock Exchange of Thailand main index went down 27.62 points, or 1.98%, to close at 1,370.86 points at the end of trading session this afternoon. The trade value was 58.03 billion baht, with 10.27 billion shares traded.
- Published: 20 Aug 2013 at 16.59
- Online news:
The SET50 index ended at 931.47 points, down 16.23 points, or 1.71%, with a total trade value of 46.85 billion baht.
The SET100 index fell 39.20 points, or 1.88%, to stand at 2,049.53 points, with a total turnover of 51.85 billion baht.
The SETHD index went down 13.17 points, or 1.17%, to stand at 1,111.79 points, with total trade value of 19.62 billion baht.
The MAI index dropped 11.61 points, or 3.02%, to close at 372.40 points, with total transaction value of 847.75 million baht.
Top five most active values were as follows;
KBANK stood at 171.00 baht, down 5.00 baht (2.84%)
INTUCH stood at 85.00 baht, down 2.50 baht (2.86%)
SCB stood at 151.00 baht, down 4.00 baht (2.58%)
ADVANC (XD) stood at 259.00 baht, down 5.00 baht (1.89%)
PTT stood at 319.00 baht, up 3.00 baht (0.95%
VASU' s site now updated showing:
Buying £ @ 49.30
$ @ 31.60
Wahey, so thats a bottle of Chang from 7/11 for less than a Pound
JPY 33.24
Go, yen, go!
It is obvious to me that the pound should be stronger, I mean, we fucking created the world so our money should rule and be able to buy whatever the fuck we want to buy with it, d'you know what I mean, if I give some flip flop wearing spanner a pound coin with the queens head on it then in exchange he should give me whatever the fuck I ask for, innit.
i pine for the days it was 80-90s at the crash in 97 ..fu c k 50 ,thats piddling money
SCB is giving ThB 49 or Euro 42 for £ 1 this morning.
Buy now while stocks last.
Sad that ThB 49 for £ 1 feels like a good rate!
Last edited by Thormaturge; 22-08-2013 at 12:08 PM.
50+ on Xe today.
Philippine peso is heading in the right direction....A few months ago was teetering near 40/USD1. Today, almost up to 44/1. Nice if, like me, your pension and client payments are in USD.
my screen thingy tells me its 50.133 for the pound,
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