Thread: Thailand : Public debts reach 36.92% of GDP

Originally Posted by mikehunt

So Butterfly, how is money made? Or is this a secret? Surely this equation of debt/credit MUST balance eventually? Since it doesn't appear to be balancing, why not?

I don't think you will have the capacity to understand any of it, so why should I bother ?

Originally Posted by bkkandrew

^Oh, I wouldn't bother asking Butterfly any questions about actual facts. He lives in his own world of magic money, magic economies, pixies and the talking knome at the bottom of the garden.

Originally Posted by Butterfly

Originally Posted by mikehunt

So Butterfly, how is money made? Or is this a secret? Surely this equation of debt/credit MUST balance eventually? Since it doesn't appear to be balancing, why not?

I don't think you will have the capacity to understand any of it, so why should I bother ?

Please bother...pretty please?

I have capacities that are untold on this planet. I will happily lend you my ears.

Debt in itself isn't the problem, it is what you do with the money you borrow that counts.

A company that borrows money to buy materials to fund a profitable sale will ultimately return the money with interest and turn a profit on the sale.

Borrowing money just to pay the bills and watching the balance rack up is entirely different and irresponsible.

It seems to me that the USA is now destined to borrow vast sums so that the population can buy plastic chairs and dog toys from China. while continuing to kid themselves they are rich.

Originally Posted by mikehunt

Please bother...pretty please?

ok, eat my cock first, and swallow

Did you two make merit together in former lives?

How does the Islamic Banking principle work?

Broadly speaking they will not lend you money for projects deemed unethical or unlawful (so pig farms are out of the question, as are pig massage parlours).

Theoretically Islamic banks do not charge you for lending money to you since this is also prohibited. That is correct, no interest or charges. I'm not certain but I believe the way this is circumvented in business is by profit sharing. The bank agrees to take a proportion of the profit from the business venture.

Not much hope of GM getting any money from an Islamic bank just now.

The no usury principle is also inherent in early Judaic theology. Wonder why it changed?

^
Hasn't changed. The amount you pay is based entirely upon a partnership between you and the bank. No profit no fee. So you are going into a form of business partnership in which they share. Unlike Western banks where you pay charges and interest regardless of whether you make money or not.

It does mean that Islamic business advisors are exactly that because the bank's fortunes depend upon it, unlike Western banks where the business advisors are merely kiddies with a diploma from the local business college.

Usury is prohibited in the Bible too. Try telling that to the Royal Bank of Scotland.

Thanks for the insights, Tt. It sounds like a solid partnership arrangement, which should weather many storms.

Unlike the current debacle unfolding on the greed-based world stage.

There is a strong wealth sharing concept in Islamic society which has undertones in Obama's speeches.

I'm not entirely sure how the Islamic (and Obama's) concept of excess wealth being shared amongst society will sit with Americans when they are subjected to Shariah law (oops, Obama's policies).

It is harder to obtain finance from an Islamic bank, but much fairer once you do. Of course borrowing money to open a pub, casino or porn shop is out of the question and for personal items you need to get the money from family who shouldn't be charging interest....because they are family.

for retail customers,they don't charge commissions, but duty stamps, that is actual labor hours "worked", like a salary

Originally Posted by mikehunt

BTW, thanks Butterfly, for giving me a red for my post (see https://teakdoor.com/902259-post53.html ). Why did you do it?

Butterfly does this to everyone he loses an arguement with, so don't let it worry you. In any case, I greened you, so that should more than negate it.

USA is the world's biggest consumer and hence there lies the problem...

An old saying says that if you own the bank 1000 USD, tha bank owns you. If you own 1 million USD you own the bank. It's true.

US is so important to the world's economy that other countries have to help the US keep up their spending....

I am not wrong on this. The biggest buyers of US bonds is Actually Saudi Arabia, Japan And China - The same countries that are very dependent of the trade with the US. In Practice they'll lend USA money so they still can buy their merchandise..

In principe lending your customer money so he can continue his spending.

BTW the UK was finished with their downpayments on their war debts after the second world war in 2007.


Ok. iF I'm wrong.. please feel free to post

Even if Obama gets some traction from the newest bailout the US is globalized and isn't going anywhere without the rest of the world.

Originally Posted by mikehunt

Why did you do it?

I tend to red idiots and trolls, who make silly arguments. Don't worry, bkka also get his fair share as the village idiot of the board

Originally Posted by mikehunt

I shall not be joining the wanker "thin skinned" department

You just did with that whining post !!!

Thai Public Debt 38.13% Of GDP At End-Dec Vs 37.59% End-Nov
-By Piyarat Setthasiriphaiboon, Dow Jones Newswires

BANGKOK -(Dow Jones)- The following table is public debt data released by the Ministry of Finance on Wednesday.

Code:

                   End-Nov      End-Dec  End-Dec
                              % GDP     THB Mlns    % GDP
Direct government borrowing   23.37    2,134,734    23.45
Debt owed by non-financial
public enterprises            11.29    1,047,263    11.50
Debt owed by state-owned
Financial institutions         1.32      143,939     1.58
Debt owed by Financial
Institutions Development Fund  1.52      136,915     1.50
Debt owed by other agencies    0.09        8,494     0.09
Total                         37.59    3,471,345    38.13

Note: Of total public debt at end-December, 94.98% was long-term debt and 5.02% was short-term debt.

Domestic debt accounted for 88.03% of total debt while external debt amounted to 11.97%.

nasdaq.com

Public debts at 39.93% of GDP in February
Mon, April 27, 2009

Outstanding public debts stood at Bt3.598 trillion or 39.93 per cent of gross domestic product (GDP), showing an increase of Bt73.8 billion from the previous month, according to the Public Debt Management Office.

Government borrowing in the month rose Bt78.4 billion from January.

Pongpanu Savetarun, director-general of the office, attributed the increase to the issuance of Bt88 billion treasury bills; of total, Bt39 billion is to address the 2009 revenue shortfall.

Moreover, to tackle the shortfall, the government also issued Bt17 billion of government bonds and Bt13.5 billion of promissory notes.

nationmultimedia.com