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ThaiCrisis has posted a new entry on: Thai Crisis

Chart, new condo registrations, per quarter : oversupply

The buzz around town is “condos oversupply“. People who live in Bangkok can witness a construction frenzy in some areas. I’ve expressed before my views about it. But let’s have…

ThaiCrisis has posted a new entry on: Thai Crisis

“Competition in banking sector remains weak”

Ladies and gentlemen : I eventually did it. I found a pertinent and smart comment made by a thai minister. And not any minister : the Finance Minister Suchart, someone I don’t really like (read…

ThaiCrisis has posted a new entry on: Thai Crisis

Government House still occupied ? Let’s build a new one !

How deep is the Rabbit Hole ? How far can we stretch the word “Wonder” in Thaiwonderland ? Here is a hint. Prime Minister Somchai Wongsawat said his government may build a new Government H…

ThaiCrisis has posted a new entry on: Thai Crisis

Ready for the hit on the back ? Prices of LPG to go up by 33 %

It was written… announced since last… april… Delayed… postponed… Over and over… Too sensitive… Blablablabla. The thai politicians went for the head into the s…

ThaiCrisis has posted a new entry on: Thai Crisis

Chronicles of the day-to-day corruption : Education Minister uses… school for his son’s wedding !

Don’t look further if you want to understand why Thailand is unable to heal the political crisis, unable to move forward on the path of development.. Left or right, Thaksin or no Thaksin, Junta…

ThaiCrisis has posted a new entry on: Thai Crisis

Bad days for the boiler room : office demand weakening

Demand in Bangkok’s office market has started to slow down after constant growth the past three quarters as large companies scale down expansion plans, according to the international real estate…

ThaiCrisis has posted a new entry on: Thai Crisis

Chart, real interest rate and Minimum Lending Rate

The Bank Of Thailand is probably going to cut interest rates during its next meeting, on december 3 (read here), like many other central banks around the world. Time to update the chart of… real…

ThaiCrisis has posted a new entry on: Thai Crisis

E.T. phone home… Defense Ministry has opinion about… phone calls

The fascinating point with thai army generals (and we have many of them) is that they always have an opinion, wise of course, about anything and everything. Let’s take General Apichart Phenkitti…

ThaiCrisis has posted a new entry on: Thai Crisis

Boss, boss, we screwed up again ! Tax cuts… reduce tax collection

After “water is a liquid“… here is the new striking discovery made by the guys at the Finance Ministery : tax cuts -usually- lead to lower tax collection. Damned. Give me my Plavix…

ThaiCrisis has posted a new entry on: Thai Crisis

Chart, bank deposits : alert on businesses cash flow

(Source Bank Of Thailand, table FI_CB_012_S3) Deposits (in commercial banks) of businesses : outstanding values in billions THB per month and % of growth year on year. Deposits = time deposits, saving…

ThaiCrisis has posted a new entry on: Thai Crisis

Bank Of Thailand will follow all the others… and prepares an interest rate cut

The Bank of Thailand has signalled its readiness to reduce the policy interest rate but a decision on the matter will be made after the National Economic and Social Development Board announces the cou…

ThaiCrisis has posted a new entry on: Thai Crisis

Joke Of The Day : Abhisit the… thai Obama ?

You have a few minutes ? And you want to smile ? This article (Nation) should do the trick : “Will Abhisit ever become Thailand’s very own Barack Obama ?“ Holly God, another candidat…

ThaiCrisis has posted a new entry on: Thai Crisis

Thaksin, burned by rage, threatens to “name names”

I wrote “More than ever, Thaksin wants his revenge” (after UK revoked his visa)… I forgot one very important point : rage. Burning rage. Burning hatred. Thaksin threatens to name …

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Insanity : being accused of lese-majeste, Thaksin accuses Apirak of… royal negligence

The festival continues ! The inane comedy continues ! I accuse you of lese-majeste, you accuse me of lese-majeste… Ping pong of Inferno… Peak of delirium tremens… And eventually, the…

ThaiCrisis has posted a new entry on: Thai Crisis

Sonthi blows a fuse and speaks about magic, spirits and menstrual blood

A must-read published by Nation. Sonthi, one of the PAD’s leaders, gave a speech end october, controversial it seems, during which he talks about magic. This article analyses his speech and atta…

ThaiCrisis has posted a new entry on: Thai Crisis

Somchai and Thaksin in Philippines : but they won’t meet together, of course not

The alleged thai Prime Minister will go to Philippines monday, for an official visit. And by a striking coincidence… several PPP’s MP are going to Philippines too, in order to meet……

ThaiCrisis has posted a new entry on: Thai Crisis

Chart, exports-imports : a look on the services

People often focus on exports/imports of… goods. We certainly do it for Thailand… But what about the services, bought and sold ? That’s the second part of the current account balance…

ThaiCrisis has posted a new entry on: Thai Crisis

Lese-Majeste and censorship : a thai minister has found the chinese way !

The Information and Communications Technology Ministry (ICT) says it will revoke the licences of internet service providers (ISPs) who fail to take appropriate action against clients who publish lese…

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Another blow : UK revokes Thaksin’s visa

Convicted, fugitive, a case of lese-majeste on his shoulders... and now the UK’s doors closed… The British government has revoked the visas of the former Thai prime minister Thaksin Shinaw…

ThaiCrisis has posted a new entry on: Thai Crisis

Chart, thai stock exchange : 5 years low and foreign net trading volume

Update of my chart of the SET Index with october’s datas (left scale) with net foreign trading volume in millions THB (net = buy - sell, right scale). 5 years low. Friday, the SET closed at 463…

ThaiCrisis has posted a new entry on: Thai Crisis

When the thai Education Minister meets the Black Jesus… there are sparks

Ready for the joke of the day, gold medal ? Exactly 48 hours after the election of Obama, the -alleged- thai Education Minister wants us to believe that she has endorsed… his policies. A very lo…

ThaiCrisis has posted a new entry on: Thai Crisis

Chart, exports and imports by country, until september 2008

(Source Bank Of Thailand, table EC_XT_002). Here is an update of my new chart exports/imports by country, with the datas for september. The first 3 groups are still Asean (with 114,3 billions THB), C…

ThaiCrisis has posted a new entry on: Thai Crisis

Lese-majeste case filled against… Thaksin

You know the mantra now : the economy is falling apart, the political crisis is severe… but meanwhile, we need entertainment. We really do. Thailand provides it for us. After the new-new-new …

ThaiCrisis has posted a new entry on: Thai Crisis

Thai Airways : “the situation seems to be getting worse”

After “biggest quaterly losses in 10 years and plan to reduce workforce” (august) and after “The situation has deteriorated from bad to worse” (october 10), here is the latest…

ThaiCrisis has posted a new entry on: Thai Crisis

The dark clowns are back : the government launches a new “war on drugs”

Here we go again ! The economy is falling apart, the political situation is explosive… but the courageous bozos at the government, allegedly leaded by the alleged Prime Minister Somchai, has dec…

ThaiCrisis has posted a new entry on: Thai Crisis

Chart, average wages of employees : Q2 erases the hike of Q1

The National Statistical Office has updated its Labor Force survey, with Q2 2008 figures (my previous chart here). Table 7 : “Average wage of Employed Persons by Industry“. I wrote about Q1 figur…

ThaiCrisis has posted a new entry on: Thai Crisis

Foreigners leaving the SET : “No impact on thai share fundamentals”

Despite Thai exports being affected by the global financial crisis, the Bank of Thailand Assistant Governor for Financial Institutions Policy Group, Krirk Vanikkul, assured that liquidity among Thai f…

ThaiCrisis has posted a new entry on: Thai Crisis

Chart, inflation october : CPI at +3,9 % and PPI at +8,5 %

Consumer Price Index and Producer Price Index reports for october have been published (source Bureau of Trade and Economic Indices). Good news : the pace of inflation is decreasing. CPI = +3,9 % comp…

ThaiCrisis has posted a new entry on: Thai Crisis

Massacre in the south : car bomb in Narathiwat

71 wounded with 12 in critical conditions… Coordinated attacks… Car bomb + a bomb planted in a motorbike. Suspected insurgents, blending in with some 300 village headmen and officials, se…

ThaiCrisis has posted a new entry on: Thai Crisis

Chart, sales of cars and motorcycles, september and Q3

The BOT has published the datas for september (EC_EI_015 and EC_EI_016) We still have a 10 % decline year on year for the total passengers + commercial cars. Motorcycles are up 31 % at 155 600 units,…

ThaiCrisis has posted a new entry on: Thai Crisis

Chart, trade balance : per month and quarter until Q3

We are talking a lot about trade… Everybody is looking for the first signs of “weakness” and the fallouts from the global financial crisis. Here is a view about trade balance (export…

ThaiCrisis has posted a new entry on: Thai Crisis

Ethnic cleansing : a village in the south… gets rid of its last buddhist family

The last Buddhist family in a village of this southern border province was attacked by Muslim insurgents Sunday, killing the mother and severely injuring the daughter. The attack against the family in…

ThaiCrisis has posted a new entry on: Thai Crisis

Real estate : large inventory of unsold condos in Bangkok

The supporters of the boiler room start to tremble… If it was true… ? If we were indeed heading toward a recession ? The question is purely rethorical of course… I showed that the…

ThaiCrisis has posted a new entry on: Thai Crisis

Joke of the day : they forgot to create the company to manage the Airport Train line

Let’s imagine the following dialog at the SRT : -”Boss, boss ! I’m afraid we fucked up again. The new Airport Link is supposed to open soon. But we forgot to think about the… m…

ThaiCrisis has posted a new entry on: Thai Crisis

Alert : sharp drop of land transactions confirmed (august)

-45 % year on year in august ! The previous alert is confirmed : land transactions are falling at historic low levels. And now we have a trend : 3 successive months (june, july, august). In august, th…

ThaiCrisis has posted a new entry on: Thai Crisis

BOI, new investment projects : - 20 % on nine months

Thailand’s Board of Investment has cut its investment support target this year, after the US financial storm caused new investment applications to drop 20 per cent in the first nine months. Howe…

ThaiCrisis has posted a new entry on: Thai Crisis

Pump pump it up : government to pump in extra 100 billions THB

The government will increase the mid-year budget for fiscal 2009 by Bt100 billion, to help drive economic growth as it bids to minimise a potential surge in unemployment resulting from the world econo…

ThaiCrisis has posted a new entry on: Thai Crisis

“In the future, the PAD may be attacked with RPG rockets, M79 grenades”

You want to understand why Thailand is totally fxxxd up right now ? Here is what a “general” (ah ah ah ah) can say in public… Gen Kattiya Sawadiphol, a specialist of the Army, Thursd…

ThaiCrisis has posted a new entry on: Thai Crisis

Chart, currencies : THB is tied to the US dollar

We have some very strong winds on the currencies front since a few days. The USD explodes against many currencies (but not versus the Yen)… And what about the THB ? People seem puzzled to see th…

ThaiCrisis has posted a new entry on: Thai Crisis

Lese-majeste hysteria : “32 cases under investigation”

You have to relocate an Asean summit in Chiang Mai… because you’re a chicken-little afraid of protesters in Bangkok ? Everybody is laughing at you because you don’t even have a prope…

ThaiCrisis has posted a new entry on: Thai Crisis

Internet : Thailand wants to build a firewall to protect the monarchy

The world is falling a part with an inane financial crisis. Thailand has no government. The alleged Prime Minister doesn’t even have an… office (occupied by PAD’s protesters since 2…

ThaiCrisis has posted a new entry on: Thai Crisis

Are thai exports falling… by 30 % ?

Those people drive me crazy : unable to write something clear, that makes sense. After “we will have a growth of 5 % next year”, after “let’s devaluate the THB” and after…

ThaiCrisis has posted a new entry on: Thai Crisis

“The real impact on the Thai economy will become visible after November”

Good. After the denial… we start to see here and there the wings of common sense… In september, it seems that export were still holding up. Normal. Lag effect. We even had a trade surplus&…

ThaiCrisis has posted a new entry on: Thai Crisis

A “rescue package” of 15 % of Thailand’s GDP ? !

After “let’s devaluate the THB to boost exports“, here is the thai version of “the rescue package”… A very thai version actually. Ready ? The government has set as…

ThaiCrisis has posted a new entry on: Thai Crisis

Passengers air traffic drops like a stone (-20 % in september)

Fasten your seatbelt… But is there any seatbelt left ? Passenger traffic through Thailand’s six main airports dropped for the third consecutive month in September, bringing passenger nu…

ThaiCrisis has posted a new entry on: Thai Crisis

Chart, thai stock exchange : 5 years wiped out

Here is the chart of the SET Index (left scale), with net foreign trading volume in millions THB (net = buy - sell, right scale) Today the SET is at 450 points. Back to may 2003 ! So much for the …

ThaiCrisis has posted a new entry on: Thai Crisis

Thaksin : “the end of thai people’s nightmare is not far”

Thaksin wrote a letter to the “international medias” to react after the 2 year jail sentence against him. It’s a must-read. The ex Prime Minister makes some (easy) points. I think th…

ThaiCrisis has posted a new entry on: Thai Crisis

The most depressing opinion poll : corruption is acceptable

This has to be the most depressing opinion poll of the year… Agencies need to act immediately to eradicate corruption in Thai society before the country is ruined and it is too hard to rehabilit…

ThaiCrisis has posted a new entry on: Thai Crisis

New constitution to be drafted… or ready ? Confusion is high

The government has decided to halve the period for redrafting the constitution, from 240 to 120 days, and signalled the possibility the House will be dissolved afterwards. Government spokesman Nattawu…

ThaiCrisis has posted a new entry on: Thai Crisis

South : banality of the horror… a garbage truck driver killed

The situation in the South makes less noise, eclipsed by more burning issues (political crisis etc.). And the level of violence has been reduced (less bomb attacks for instance and less casualties). B…

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