69 replies to this topic

[Crackerjax]

Boss45 wrote:

I have yet to see anyone bring out the fact that the Thai economy has been growing

Excellent point boss. Granted, I pointed that out on this thread about a week ago.

[kliome]

I wouldn't be so sure about that..

It's all very easy to sit back and wait best part of a week after the event before passing comment, very brave. I commented immediatley on hearing the news and still hold to the fact that it was the best news possible and was precisely what the country needs to improve our standing in the financial world. Had Brown not stepped down when he did we would have lost our AAA credit rating, but we didn't.

Labour have grown old and tired and have gradually been making a mess leading to the debt we currently have and this is the only positive way forward. Although the PIGS certainly aren't helping our exchange rate, but that is a seperate issue.

So how long should we wait???

The exchange rate dropped another 0.7 over night. It was 45.4 at Kasikorn today.

It's not so much a criticism, I just wish I could share your confidence that things will get better any time in the near future, regardless of who is in power at number 10.

[patrick]

The country is going to hell, but the currency stays strong. You can only speculate that the central bank is buying baht, but I'm not sure why.
There is a lot of talk about the weakness of sterling, but the baht is beginning to appreciate against the AUD as well WTF.

[batman4ever]

Let's face it, the whole world was on a magic capret ride for the previous 8 years. It was all smoke and mirrors. I have yet to see anyone bring out the fact that the Thai economy has been growing and that strengthens their currency against all currencies. Their economy will continue to grow and as it does, the cost of mongering will increase, Get use to it. The old days are over. Think about it, we are bitching abot the xchange rate because we pay for sex, yet we spend gobs of money just getting there!!!! Unbelievable!!!!!!!!

yeah....and greece told us their defecit was only minus 3,6%......until they finally admidtted that it was almost 13%,,,
the only proberly reason that the thai-econymy had been growing is IMHO the investsments from abroad...but with al investments there comes a time where the investors wants to see some profit,and then this card-deck will fall...

the biggest export in los is food especially rice....but the price is so low that the goverment have to subside it....did you believe if the price was high that all the reds were on the street??
second they have a huge car industrie.....how long ago was it since you last see ford-toyota-gm dance of happines..?? toyota just announced yesterday they were closing a plant in thailand..
tourism??? well as we know thats pretty doomed right now...and add the fact that all the investments from abroad in luxury hotels will have a more than hard time to pay off.....

its all just MY guess.... but iam quite sure that withinn a year the bubble will burst... and we will maybe get the first hint soon (in a couple of weeks when they finnish the trouble in bkk) and they will start by saying the reds are to blame for all.. that way the goverment will save face the thai way...

[dixon cox]

So how long should we wait???

If I knew that I would retire on the proceeds of my betting placements this summer.

Markets are waiting for the pending budget to see where we are headed and confidence within those markets is what we need to hope for.

One thing was certain, we would have been doomed if Labour had remained in power. It was never going to be easy for whoever took over, but at least the worst didn't happen.

I'll be back in LOS towards the end of the year, so my 'hopes' for foreign exchange gains are based on then. There is no short-term solution unfortunately.

Fingers crossed for a good response to the emergency budget in a month's time.

[Legend]

i always enjoy reading your side of things puttyman.

[donnykey]

The country is going to hell, but the currency stays strong. You can only speculate that the central bank is buying baht, but I'm not sure why.
There is a lot of talk about the weakness of sterling, but the baht is beginning to appreciate against the AUD as well WTF.

Yes patrick but that's only because our $ is weaker against the US$
. The Thai baht exchange rate we get is based on ,and only on what our money is worth against the US $. Do the sums it's a fact.

Cheers DK

[dixon cox]

The Thai baht exchange rate we get is based on ,and only on what our money is worth against the US $.

The Baht is strapped to the US Dollar.

Surely the Baht cannot last forever keeping par with the US$, devaluation must be on the horizon, doing us all a huge favour in the process.

I can't believe it hasn't happened already :|