69 replies to this topic

[Bumblebee]

It has been noted by this reader that DC and Pentire have been slightly sarcastic in some of their posts recently

I'm disappointed by your use of your the word "recently" BB, I hoped I was more consistent than that

Can you never take a compliment? Back to the topic yes the exchange rates it pretty bad for those in Britain and the eurozone right now. I see today sterling is hovering around 46.33 in most banks in Los and the Euro is down to 40.60 approx. Considering the Euro was 49.50 back in November that is quite an horrific drop.

So it looks like anyone heading there from our neck of the woods had better be more selective about when they open their zipper or hope their thirst is not so bad. Tough times indeed guys.

[dixon cox]

... and please get back to the topic.

"ffs will this shit ever stop" [sic]

... until the squatter has been evicted it will remain very poor, unfortunately a chance just evaporated.

You will most likely get another chance later in the year where you get to do it all over again with an opportunity, in the meantime, to reconsider what you've just done :|

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[RobiSLO]

I lost 20% (from 50-40 BHT/EUR) in half a year, courtesy of my dear Greek friends.

This might as well be just punishment for me since before Thailand era I was regular in Greece.

BR

[Bumblebee]

I am with you there Robi. The exchange rate with the Euro would put me off goin to Los any time soon if that was an option. 20% drop in the exchange rate in 6 months is a sickener for sure. No idea how it will go from here, and our good friends using sterling are in the same boat.

[rxpharm]

Really the only way for the rate to improve is for the economies of UK, and Eurozone to improve. Unfortunately it doesn't look like it will happen in the near future.

I suppose the other way is a total collapse of Thailand's economy - which still might happen if things go wrong with PM Abhisit's latest "Road Map".

[Crackerjax]

IMHO, you guys need to get a grip and deal with reality.

There may be some short term ups, but in the long run the western currencies are doomed to lose value - we live in aging, less productive societies that currently maintain a false prosperity through the issuance of government debt. For all of Thailand's problems over the past 20 years, it has had an annual growth rate that is the envy of most of Europe. The same is true throughout Asia - lots of poor people willing to work hard to improve their lot. Hell, they'll even sleep with pigs like us for $20 bucks to get ahead.

Make no mistake, vast new wealth is being generated here in Asia - it is being consumed in the West. If you believe that, holding assets denominated in appreciating local currencies is a better way to protect yourself than praying for some dramatic recovery in the Dollar or Pound or Euro or Yen.