I find it amusing to read over the postings in this section. There are 2 very clear polarised views and I guess mine is clear from previous posts. The whole economic thing about all of this is market confidence and yes it is also very clear that confusing messages appear in papers and in releases from the government that are then corrected only to be again re-corrected and so on.
Maybe this misinformation in itself IS the grand plan. Create a bit of general insecurity and then the market will adjust itself and thereby you control it a little without destroying it completely and thereby generate a real political mess.
The fact is that the global financial markets have for several years been confident with everything that the Thai government has done, this is evidenced by the exchange rate. How many countries can you name that have undergone a political coupe and see their currency relatively unchanged. The strength and robustness of the currency therefore suggests that those with the money see Thailand as a good bet.
I would add that were I a Thai I would object to the influx of foreign “ownershipâ€
sound investment (really?)
Re: happy new year
[quote="essbee"]
I would add that were I a Thai I would object to the influx of foreign “ownershipâ€
I would add that were I a Thai I would object to the influx of foreign “ownershipâ€
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Sargent Said
"Esbee i find your post amusing hows your confidence in thailand today after the bombs i would be interested it may help me when i post my crystal ball post for hua hin 2007"
Well Sargent, I unlike you did not go to the same school as Harry Potter, my comments are not based on "my opinion" but that of the global financial market that clearly sees Thailand as having good economic prospects. The bombs in Bangkok would be a concern to anyone but it does not seem to have worried the FX market much this morning and that is a good indicator. That said you are quite right bombs do change things in more ways than the obvious.
Having said that mate I dont want to upset you as I am rather hoping you can email me privately the winning lottery numbers for next Saturday !
"Esbee i find your post amusing hows your confidence in thailand today after the bombs i would be interested it may help me when i post my crystal ball post for hua hin 2007"
Well Sargent, I unlike you did not go to the same school as Harry Potter, my comments are not based on "my opinion" but that of the global financial market that clearly sees Thailand as having good economic prospects. The bombs in Bangkok would be a concern to anyone but it does not seem to have worried the FX market much this morning and that is a good indicator. That said you are quite right bombs do change things in more ways than the obvious.
Having said that mate I dont want to upset you as I am rather hoping you can email me privately the winning lottery numbers for next Saturday !
Call a place paradise - kiss it goodbye
I wasnt being facetious sorry if you took it that way but in all my time i have never been able to understand how currencies are worked out
To me in an economy so reliant on tourism i would expect the currency to loose value after the bombings the coup the Stock exchange Fiasco etc etc
market confidence is a term that amazes me agreed this is only a one off so far but where will it go if it continues and how quickly
Is market confidence one rich speculator leading all the rest and the minute he gets he jitters and he pulls the plug they all follow
What or who decides market confidence levels it has baffled the crap out of me since the coup let alone last night
And no i dont know of any other country that has had a coup and experienced such confidence hence my bafflement
To me in an economy so reliant on tourism i would expect the currency to loose value after the bombings the coup the Stock exchange Fiasco etc etc
market confidence is a term that amazes me agreed this is only a one off so far but where will it go if it continues and how quickly
Is market confidence one rich speculator leading all the rest and the minute he gets he jitters and he pulls the plug they all follow
What or who decides market confidence levels it has baffled the crap out of me since the coup let alone last night
And no i dont know of any other country that has had a coup and experienced such confidence hence my bafflement
A Greatfull Guest of Thailand
dont forget the lottery numbers !!!!!!!!!
Sargeant, the Baht would have taken a hammering following the control regulations announced on the 19th Dec. had not the Bank of Thailand shored it up by selling a substantial chunk of its Dollar reserves on the following day. This was done out of the fear that Thailand was about to precipitate another Asian currency crash reminiscent of 1997.
The FT is saying that the Thai Baht and SETI will be "jittery" on wednesdays opening, that seems a reasonable prediction as many foreign investors delayed selling in December to await any new decisions in the New Year.
The FT is saying that the Thai Baht and SETI will be "jittery" on wednesdays opening, that seems a reasonable prediction as many foreign investors delayed selling in December to await any new decisions in the New Year.
If a currency gets in trouble any effort by the central bank would have no effect whatsoever as the Conservatives found out when they withdrew the pound from the ERM. Just a sniff of it would get all of the major banks in on the game and Thailand would spend the next few years getting out of the mess. Any intervention therefore was just token I would suggest.
I would expect that the stock market will take a hit but really with all that has happened over the last few years it has done rather well !!
I would expect that the stock market will take a hit but really with all that has happened over the last few years it has done rather well !!
Call a place paradise - kiss it goodbye
As long as they dont bomb my golf course or my street i am reasonably safe but i suppose i will have to wait and see i am however expecting (hoping NOT) this bombing is not over yet and therefore a decline in the baht and the economy based on my logic which has for a long time been exceptionally off beam
A Greatfull Guest of Thailand
Its true! I put my hand into my trouser pocket this morning and felt a weird sensation, only to discover it was my Thai baht all a jittery!STEVE G wrote: The FT is saying that the Thai Baht and SETI will be "jittery" on wednesdays opening, that seems a reasonable prediction as many foreign investors delayed selling in December to await any new decisions in the New Year.
