Firstly May I respectfully request that posters on this thread tell the truth and resist the urge to blow hot air up their own bums with wishful thinking or trying to swim against the reality to encourage a sale.
I am writing this because I as an individual have had my income cut by 33% purely on the exchange rate.(there are threads on this but not as to what it means to the middle class, Thai small businesses and in particular the poor)
What does my situation mean to Thailand Well its about 25,000Bt a month I am not spending in Thai businesses A mere 1,000 like me adds up to 25 Million BT a month
Mrs. Sarges Business has all but collapsed she supplies pork scratchings sweet pork and in all about 7 different pork items to the small roadside stalls and restaurants from the Majestic to Suan Son
6 months ago she had in excess of 25 roadside eateries as customers and was processing in excess of 200 kilos of pigskin and pork a Week
She now has only 5 Five customers left all of the others have closed down Her friend who does the same business is in a similar position
The reasons given as each place closed down was
1…The itinerant workers Builders and tourism employees who have lost jobs have gone back to their farms
2…The BKK weekenders are down 50% (that could be numbers but probably means they are spending less
I don’t need anyone to tell me foreign tourism is fine I can see with my own eyes it isn’t, Add to that the number of hotel worker friends on short time and short pay and painting any other picture is just a Picasso in progress
I as always am extremely worried for my Thai friends (and myself and my family)
My brother in law and his wife who both work in a tire factory in samut sakhon have been told that the factory will close down next month. Mother Father and two kids income zero zilch nothing.
I am particularly interested in how it is affecting the Thais in your families and your Thai friends
Credit Crunch effect on Thailand
Credit Crunch effect on Thailand
A Greatfull Guest of Thailand
Sarge,
The majority of my family are already quite poor so they will see little difference.
A few have secure type jobs in Electric Company, Army, Govt street cleaners etc. They typically help each out in times of need so should be able to survive.
Unfortunately this crisis is world wide and EVERY country is hurting.
We all have to tighten our belts.
Good time to give up smoking.
The majority of my family are already quite poor so they will see little difference.
A few have secure type jobs in Electric Company, Army, Govt street cleaners etc. They typically help each out in times of need so should be able to survive.
Unfortunately this crisis is world wide and EVERY country is hurting.
We all have to tighten our belts.
Good time to give up smoking.
You only live once.
Not Hua Hin, but my wife's sister and her husband both worked at the massive Seagate factory just south of Korat which was/is a major exporter of electrial media components. Some time before Christmas, she was reduced to either a 3 or 4 day working week. Just after Christmas, they were both laid off. More than a bit worrying as they have a 3 year old.
Talk is cheap
My family are all self employed in Issan and I haven't heard of any problems with their businesses as yet. One sister in law and her family are farmers, along with their son and his family. Another sis in law buys cheap goods in Laos and imports to Issan markets to sell... still doing ok. My brother in law makes clothing and sells them in markets, also in Issan... seems to be doing ok. I have one nephew (in law) who graduated university and is a civil engineer with a company out of Bangkok and so far he still has his job.
None of these people have jobs that are mostly dependent on foreigners, tourism, or exports so maybe that's why they are doing ok so far... only hope it continues to be same same for them and improves for other struggling Thais trying to survive in the current economy.
None of these people have jobs that are mostly dependent on foreigners, tourism, or exports so maybe that's why they are doing ok so far... only hope it continues to be same same for them and improves for other struggling Thais trying to survive in the current economy.
Oz caller HH its the dominoe effect which worries me as Oz says they will all help out in a crisis and as in my case i am hard pushed to help but will when i can it just means those with jobs will be able to spend less as they will be helping the poorer unemployed relatives with money for food. As they spend less more factories will close more poor people will loose their jobs and a vicious circle begins
i agree it is worldwide but it seems to me there is a lag effect here and the real crunch will bite later this year.
My real fear is that other than rice this country is dependent on the rest of the world buying products here based on low wages i am therefore expecting more of my factory (ceramics Lampang) relatives loosing their jobs
I am sure This will impact on us as well although how I am not sure
I am however more worried how it will manifest itself amongst the poorest Thais
i agree it is worldwide but it seems to me there is a lag effect here and the real crunch will bite later this year.
My real fear is that other than rice this country is dependent on the rest of the world buying products here based on low wages i am therefore expecting more of my factory (ceramics Lampang) relatives loosing their jobs
I am sure This will impact on us as well although how I am not sure
I am however more worried how it will manifest itself amongst the poorest Thais
A Greatfull Guest of Thailand
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sandman67
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I do work from time to time over the other side of the bay in Si Ratcha down the road from Patayya. Si Ratcha is the main deep water container port for Thailand, and the area is surrounded by heavy industry like car plants and other manufacturing businesses.
1) The throughput at the deep water port was down 25% before Xmas, and seems to be getting worse. In particular theres been a steep drop off of goods shipments coming in from China and Japan.
2) Two of the major car manufacturers effectively closed down production the week before xmas, laying off most of their Thai staff. The Japanese guys there are still working, but its tickover duty to keep the plant active.
My friend, who runs a few businesses there, says its a pretty grim picture for the Thais, and many have headed back home up North.
The continued strength of the baht against European currencies and the dollar, as well as regional currencies, has resulted in drops in exports to the point some fishers down in the South have packed up work as they cant sell their products. Rice exports have been hit badly too I read.
The strong baht, combined with the ongoing political uncertainty is definitely hitting all foreign investment.
Im guessing theres a lag time, and in three months, around the end of the so called high season, we will start to see things get really bad, with mass unemployment and the economy taking a bad slide. As others have said, once the slide starts it fuels itself.....and its the urban working class that will get hit worst.
som nam na and "thats what you get for acting like schoolkids" aside, its down to those that can to try to help alleviate the pain.....
1) The throughput at the deep water port was down 25% before Xmas, and seems to be getting worse. In particular theres been a steep drop off of goods shipments coming in from China and Japan.
2) Two of the major car manufacturers effectively closed down production the week before xmas, laying off most of their Thai staff. The Japanese guys there are still working, but its tickover duty to keep the plant active.
My friend, who runs a few businesses there, says its a pretty grim picture for the Thais, and many have headed back home up North.
The continued strength of the baht against European currencies and the dollar, as well as regional currencies, has resulted in drops in exports to the point some fishers down in the South have packed up work as they cant sell their products. Rice exports have been hit badly too I read.
The strong baht, combined with the ongoing political uncertainty is definitely hitting all foreign investment.
Im guessing theres a lag time, and in three months, around the end of the so called high season, we will start to see things get really bad, with mass unemployment and the economy taking a bad slide. As others have said, once the slide starts it fuels itself.....and its the urban working class that will get hit worst.
som nam na and "thats what you get for acting like schoolkids" aside, its down to those that can to try to help alleviate the pain.....
"Science flew men to the moon. Religion flew men into buildings."
"To sin by silence makes cowards of men."
"To sin by silence makes cowards of men."
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sandman67
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dont forget mate, next time the Sarge Shift-A-Shack groundforce gets deployed give me a shout
it would be good to put something back into the community from which I take quite a bit... and I could do with a few days of hard graft to get my old joints working again
...thats what I meant by "them as can" above.
it would be good to put something back into the community from which I take quite a bit... and I could do with a few days of hard graft to get my old joints working again
...thats what I meant by "them as can" above.
"Science flew men to the moon. Religion flew men into buildings."
"To sin by silence makes cowards of men."
"To sin by silence makes cowards of men."
Let me try to point this in a direction
As i said in my OP i am spending 25,000 Bt a month less in Thai businesses
1,000 farangs same same me = 25,000,000 a MONTH
if 22,000,000 is for materials and 3,000,000 is for staff costs
@ 6,000 BT a month average wage that equates to 500 jobs or one jobless thai for every two farangs affected That live here
and that is without the outside world effects
SM i sure will call if i need you
As i said in my OP i am spending 25,000 Bt a month less in Thai businesses
1,000 farangs same same me = 25,000,000 a MONTH
if 22,000,000 is for materials and 3,000,000 is for staff costs
@ 6,000 BT a month average wage that equates to 500 jobs or one jobless thai for every two farangs affected That live here
and that is without the outside world effects
SM i sure will call if i need you
A Greatfull Guest of Thailand
Was reading on the BBC about job losses in Thailand a week or so ago, sorry, but couldn't find it again today, so no link. They were going on about the hundreds of thousands of jobs gone 'down the toilet' and those are only the ones from reportable places, who knows how many from small businesses etc.
Suppose that's why they are doing these unpresidented 'special' moves to encourage people to come here.
Sarge is right about the foreigners having to 'tighten the belt' because of the exchange rate and it's effect as a collective consequence.
Even heard from the wife today that Thai TV were announcing that people wanting to fly to Thailand with Thai Airways can take advantage of 25% of the flight being paid by the government and 25% paid by Thai Airways, not sure about whether it will materialise, maybe, heard it today.
Anyone heard about this aswell?
If so, then at least the new PM is trying to do something but it must be bad if they are doing this sort of stuff and waiving visa fees.
Unheard of before.
Suppose that's why they are doing these unpresidented 'special' moves to encourage people to come here.
Sarge is right about the foreigners having to 'tighten the belt' because of the exchange rate and it's effect as a collective consequence.
Even heard from the wife today that Thai TV were announcing that people wanting to fly to Thailand with Thai Airways can take advantage of 25% of the flight being paid by the government and 25% paid by Thai Airways, not sure about whether it will materialise, maybe, heard it today.
Anyone heard about this aswell?
If so, then at least the new PM is trying to do something but it must be bad if they are doing this sort of stuff and waiving visa fees.
Unheard of before.
Resolve dissolves in alcohol
Spitfire 100s of thousands i dont think so they were talking a million plus i personally think when the dominoes stop falling it will be closer to 5 million 
quote your goodself "at least the new PM is trying to do something"
some words spring to mind "Breeze pissing into" "Uphill crap pushing" is another
By the way tourism accounts for a massive 6%/8% of GDP
Rice accounts for 40+% and this govt and PAD have really pissed the farmers right off
The other 50% is export dependent manufacturing and the factories are closing faster than they can turn the lights out
I actually think of all Thais rice farmers and their families will come out best at least they will have something to eat
The middle classes and small businesses will IMHO get hammered which means the end of this crap will be signalled by a wholesale sell off of yellow shirts
quote your goodself "at least the new PM is trying to do something"
some words spring to mind "Breeze pissing into" "Uphill crap pushing" is another
By the way tourism accounts for a massive 6%/8% of GDP
Rice accounts for 40+% and this govt and PAD have really pissed the farmers right off
The other 50% is export dependent manufacturing and the factories are closing faster than they can turn the lights out
I actually think of all Thais rice farmers and their families will come out best at least they will have something to eat
The middle classes and small businesses will IMHO get hammered which means the end of this crap will be signalled by a wholesale sell off of yellow shirts
A Greatfull Guest of Thailand
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sandman67
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thats because they are too uneducated and misinformed to work out their central banking system and Agriculture and Finance Ministries are more to blame for the fact their very expensive export rice is now unsellable.Rice accounts for 40+% and this govt and PAD have really pissed the farmers right off
still....at least no-one here should go hungry
From an earlier post Sarge I think two thais for every farang is a bit conservative....directly yes, but the knock on effect (family) is much bigger
"Science flew men to the moon. Religion flew men into buildings."
"To sin by silence makes cowards of men."
"To sin by silence makes cowards of men."
I went outside (sorry Oz) for a quick drag and had a thought.
In the interests of openness I declare i am no fan of Abhasit or his party
However should he follow Gordon Brown and devalue the Baht by 50% i would beat Mrs Sarge with a stick to vote for him
Now call me old fashioned if you will but i dont think there is a cat in a#$&**les chance of that happening
In the interests of openness I declare i am no fan of Abhasit or his party
However should he follow Gordon Brown and devalue the Baht by 50% i would beat Mrs Sarge with a stick to vote for him
Now call me old fashioned if you will but i dont think there is a cat in a#$&**les chance of that happening
A Greatfull Guest of Thailand