IF THE FINANCIAL COLLAPSE
DOES HAPPEN THEN ITS DEPRESSION TIME
WHAT SAY DEPRESSION COMES ABOUT
10 commandments for Surviving the Next Disaster:
1). If you want to invest money, many experts suggest buying Gold or silver for bartering- coins and bars are better. Take money out of banks or spread your funds.
Also have extra blankets and even a polar tent that you could set up in your living room for warmth. Move to land and by the sea to grow vegetables etc
We have yet to see subprime hit Thailand FULLY BUT IN NOV 2008 OVER 500 COLLAPSED GARMENT AND ASSOCIATED COMPANIES GOING UNDER IN SAMUT PRAKAN ALONE --- it will as the banks are saying nothing yet hiding behind a charade & the politicians are more concerned about getting ministries & fill their pockets more. Condos in Bangkok are plentiful and Property Investors are saying there is not enough condos here but they normally say this so people will invest. If you borrow you are in for a shock. If you have excess funds to play with OK but stay away from fund managers & hold on to your money --- better still listen to us and buy condos only not 30 year leases under Estate managements and just buy what you need. But check out the condo and Company first if they have mortgages AND wait 6 months and you will get a condo bargain as more people cannot service their mortage payments as more businesses will close? The rest invest in gold & silver is our fix. . [ Read more about Fund Managers ]
Exporters are being hit by lower currencies and higher Bank TT charges.
To buy SILVER BARS IN BANGKOK TRY KITCO
THAI BANKING SYSTEM NOV 2008
Local banks have been cutting back funding lines to US companies as credit risks have jumped sharply in recent days.Bank executives said local banks have been refusing to roll over their short-term credit lines to international clients, particularly US firms, as a result of the global credit crunch.Some banks are concerned that funding will simply be transferred offshore to help parent companies starved for cash. Other bank executives said the cutbacks simply reflected prudential lending practices as credit risks have jumped sharply.While liquidity remains plentiful in the local money market, global equities markets have nosedived as analysts express concern that the financial crisis will spark a full-blown recession as companies are locked out of credit.US and European banks, already suffering from declines in the value of the securities and mortgage loans, have cut back new lending due to capital constraints and fears about credit risk.Apisak Tantivorawong, the president of Krung Thai Bank and head of the Thai Bankers' Association, acknowledged that some banks were cutting back short-term lending for some clients.''This is normal practice under each bank's risk management system. Definitely the uncertainty in the local and global economic outlook has led to higher risks and lower loan growth,'' he said.He said that KTB, the country's second-largest bank, was maintaining its lending practices, but that rejection rates may rise as credit qualifications for borrowers fall with the slowing economy.Net lending growth in the third quarter would decline from the first half, Mr Apisak said, due to the slowing economy. The bank in any case still expects to post a net profit for the quarter, even after increasing provisions to fully cover its $160 million investments in offshore collateralised debt obligations.Political unrest and the violent clash between the People's Alliance for Democracy and the police this week had also affected already-weak investor confidence, which in turn would affect investment and consumption trends for the near future.''The private sector is definitely concerned about the political uncertainties. After the violence on Tuesday ... the country has no solution to the problems. This will only further affect confidence and the economy,'' Mr Apisak said.For now, loan quality remains relatively strong, although the trend is negative in line with the overall economy.''The bank's non-performing loans for the quarter are expected to be unchanged from the last quarter. The negative environment will affect distressed assets over the next six months, but we see the situation is still controllable,'' Mr Apisak said.Wiwat Kittiphongkosol, an executive vice-president of Siam Commercial Bank, said the bank was maintaining its loans to both local and foreign clients.''The US crisis has been limited to the financial industry, but the real sector has remained normal,'' he said.But SCB is taking a more cautious approach to trade finance and clearing letters of credit issued by foreign banks.Mr Wiwat said liquidity conditions would tighten and funding costs would increase due to global market turmoil. Bangkok Post source 9th Oct 2008
Check out Pattaya/Bangkok Shipping & Transport services
If you had purchased $1,000 of shares in Delta Airlines one year ago, you will have $49.00 today. If you had purchased $1,000 of shares in AIG one year ago, you will have $33.00 today. If you had purchased $1,000 of shares in Lehman Brothers one year ago, you will have $0.00 today. But, if you had purchased $1,000 worth of beer one year ago, drank all the beer, then turned in the aluminum cans for recycling refund, you will have received a $214.00. Based on the above, the best current investment plan is to drink heavily & recycle. It is called the 401-Keg.
If you are unsure of a gem shop in Bangkok contact the Tourism Assistance Center, Tourism Authority of Thailand, Le Concorde Building, 202 Ratchadapiser Road, Bangkok 10310. Tel: 694-1222, ext. 1090-1094, or the Thai Gem and Jewelery Traders Association, 942/152 Charn Issara Tower, 15F, Rama 4 Road, Bangkok 10500. www.tgjta.com , email firstname.lastname@example.org or telephone 267-5233-6.
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