Jump to content

Economical situation in LOS???


drogon

Recommended Posts

Mekong's luck was a mixture of exchange rate movements plus getting in at the exact right time. That window was very small.

 

It's ok - I don't expect a answer from snobs ;)

 

I would like to think of it as astute financial planning with forethought, but in retrospect I just got damn lucky, back then 1 Millo THB was 11K Sterling as opposed to 16.5K nowadays. In 97 I had been in Thailand for 6 years and knew that I wanted to be here until the day that I will eventually pop my clogs so I took the decision to tie up some capital.

 

Looking back now it was a wise choice, back calculating over the past 10 years it works out at less than 6,000 THB / Month, not bad for a 4-Bed 160 SQM Penthouse apartment within CBD of BKK which today I could let for 60K / month, thats the income for the retirement visa sorted when I eventualy decide to hang up my slide rule. Not that I would ever consider retirement based on income from Thai markets.

 

As CTO said, it was a small window of opportunity at the time and I was forunate / crazy enough to be in the right place at the right time to risk back then what was the majority of my savings on an off chance and I got lucky, my arse, my risk, my gain :content:

Link to comment
Share on other sites

  • Replies 140
  • Created
  • Last Reply
The economy in Thailand is very strong now. Sure it has problems with petrol and diesel prices but that will be compemsated by the rising rice price. So IMO 2008 will not become a crise (even if Gadfly has predicted that for more than year).

 

People are getting fucked over the rising food prices world wide. It stems hugely from the subprime crisis and it is the price we all pay for the flight of capital to raw commodities.

 

I don't think that rice farmers will profit from all this. They're simply at the wrong end of the food chain here.

 

I think the following scenario is more likely: Rice farmers will up their investments for next year hoping to get a better return. Before the next crop the commodities market settles down again and they're getting nowhere near their investment back.

 

Or: I could be wrong and prices will continue to rise, as a sign the credit crisis is far from over, in which case we all get fucked a little longer.

 

P.s.: I see the credit crisis and the rising food prices mentioned in articles everywhere, but almost no journalist seem to connect the dots. I find that odd.

 

Link to comment
Share on other sites

The economy in Thailand is very strong now. Sure it has problems with petrol and diesel prices but that will be compemsated by the rising rice price. So IMO 2008 will not become a crise (even if Gadfly has predicted that for more than year).

Mate, you read too much propaganda. The reality is 180 degrees different. I mean, the the price of an egg has raised from B2 to B5 since Jan! Wages have not...

 

Cheers,

SD

Link to comment
Share on other sites

I live is a very local area of BKK. All the shops are the small Ma & Pa shops.

 

I chit-chat with the folks in the "wet market" selling veggies and what not...they are crying.

They used to stay open until 9 PM but now, they usually close at 5 ~ 6 PM, no customers.

Same with the small Ma & Pa "7/11" shops, close early, no customers.

 

Our little massage shop, customers have dropped off by 50% or more, no extra money for a massage.

 

The inflation is hurting the "regular" Thai people quite bad!

 

What will happen? Stay tuned...

Link to comment
Share on other sites

I eat Thai food 90% of the time, often at food stands. When I first came to Thailand, 4 years ago, a meal was a bit small for me. But, the amount of food was sufficient for me to eat and keep my weight down.

 

Now, when I order a "meal", the amount of food given is ridiculously small, entirely inadequate. I can't imagine it is sufficient even for a Thai. I have to order 2 "meals" to have barely enough food to keep me until the next meal.

 

I imagine in Cent's wife's restaurant, since they have increased prices 2 times, the amount of food has not changed dramatically. But, in most places I eat, the price is the same and the amount of food is close to half of what it was before.

 

Seems it is becoming very difficult times for the average Thai person. And, since Thais don't plan for a "rainy day", things could become ugly - unfortuantely.

Link to comment
Share on other sites

[quote name='soongmak

I think the following scenario is more likely: Rice farmers will up their investments for next year hoping to get a better return. Before the next crop the commodities market settles down again and they're getting nowhere near their investment back.

 

Or: I could be wrong and prices will continue to rise' date=' as a sign the credit crisis is far from over, in which case we all get fucked a little longer.[/i']

 

Spot on! Over the last couple of days alone, I had 2 taxi drivers complaining about a drop in passengers and raising living cost in Bangkok. Both said that we will go back home working in the rice paddies â?? probably hoping to benefit from the high rice prices. I am sure a lot more are thinking and will do the same. How all this will work out only the future can tell.

The middle and lower classes are definitely suffering under the current circumstances. When private busses increase their fare by 2 THB recently there has been an outcry. The busses were unusually empty and they had to take the hike back. Also a lot of restaurants and food stalls are suffering and indeed I have the feeling that portions are getting smaller.

 

The link sumarizes the situation many restaurants are facing: Less customers and higher cost

http://www.nationmultimedia.com/2008/06/03/headlines/headlines_30074655.php

 

Nevertheless these are issues every country has to deal with. What makes it worse for Thailand is this absolute incompetent and worthless government and wih this the ongoing political instability.

Link to comment
Share on other sites

TigerM,

 

Yes, as I said, the portions are the same, but the price went up. But the price rise was way overdue really, both times. The Thais hate to raise their prices as it does drive customers to the next shop that has not raised the prices. The thing is they all do eventually, and have to to make any profit from their hard work. But all are afraid to be the 'first' to do so, as the Thais bitch and moan like hell over any increase at all (even 1 baht). Many just use the cheapest ingredients they can to keep the price down as long as they can. And many do not use better ingredients once the price is raised! :)

 

I told them both times to just raise the damned price, keep the good ingredients and portions, and those who know what is what and like their food and cooking will stay and keep coming. And, I am right, as their restaurant is popular in the neighborhood, and they have lots of teachers, students, nurses and their friends coming to eat there due to the good ingredients and taste and generous portions, even if 5 baht more a plate. Stubborn women though the Thai lasses can be, and of course what does a farang know? :shifty:

 

But, I would imagine many foods and ingredients cost more in Bangkok than in Surin, as there are longer shipping times to get it all into the city and higher fuel costs to do so. So the BKK street vendors are even in a harder position than the provinces are. Seafood has gone up quite a lot, shrimp, ocean fish, squid even (bleech), clams, oysters, crab, all that is getting much more expensive in the provinces. All due to the cost of shipping it around the country.

 

I'm waiting to see how the higher end 'trendy' restaurants do up here over the next few months. The Surinites love to go out to eat and drink in whatever is the 'newest' place to 'be seen' eating by friends and colleagues. These places boom on the weekends. I can gauge the economy just by seeing how full or empty these places are on a weekend night up here. :)

 

Cent

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

Guest
This topic is now closed to further replies.

×
×
  • Create New...