Thai baht forecast at 25 to US $ ???

[travelerjim]

Bangkok Post breaking news has an article forecasting
US Dollar falling to 25 baht to US $...

http://www.bangkokpost.com/breaking_new ... ?id=123223

"Asian currencies are likely to strengthen to the same levels they occupied before the economic crisis of a decade ago,
according to a top securities executive.

Named after Thailand's shrimp soup,the so-called "tom yam kung disease" of 1997
sent the value of currencies plummeting, starting with the baht, which halved in value almost overnight.

Asia Plus Securities president Kongkiate Opaswongkarn said the US dollar is expected
to continue weakening as the result of the ongoing economic slowdown in the United States....

... it is projected Asian currencies will strengthen to the same level as they were before the economic crisis
took place in Thailand in 1997. Before then, the Thai baht has consistently remained at around 25 to the US dollar.

Under the circumstances, Mr Kongkiate said, all parties, particularly exporters, must adjust to the situation. "

more...read story.

Indeed...this is a disturbing forecast for Americans retired in Thailand!

TravelerJim

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but European currencies, no, the UK┬г today was 70 odd, it is really going to be heartbreaking for the US if it goes to 25 to the dollar and UK goes to around 75. At the moment there is 2.08 US to the UK ┬г. It hasnt been like that for many years, they are even talking now of 2.44 to the ┬г, wow.

However, if the dollar weakens further, then there will be plus and minus factors for Asia, for certain dollar rich people will not be visiting Asia as often, but there will be an influx of Europeans.

If you haven't already divested of US currency by now, you're nuts.

Well, the only good news I can think of for Americans is for people like me who bought condos. If it gets too harsh, I can sell the condo to a Brit and make a killing on the currency movement alone. And then move someplace where the dollar still has an erection, but I can't think of that place yet.

Well, the only good news I can think of for Americans is for people like me who bought condos. If it gets too harsh, I can sell the condo to a Brit and make a killing on the currency movement alone. And then move someplace where the dollar still has an erection, but I can't think of that place yet.

Japan.

I would never move to Japan.
It might be a good idea for Americans who need to show money to immigration to bring in the dollars sooner than later.

Notice the analyst didn't say when this decline would happen. Next week? Next month? Next year? Anyway, if this does happen I personally might stay for a few more years and spend the strong baht I already have here, and then sell up and move out, yet again. Or I might find its still OK to live here like that. Street food and Thai whisky isn't all bad.

whilst the US is having problems, there could be fallout which will affect Europe also, including the UK, this sub-prime business, whilst predominantly US linked, has also affected the UK and Europe, albeit not to the degree it has in the US.

If it does affect the UK and Europe in the next few years, the Asia will "have it all ways".

Japan.

I realise that it would have an attraction for the pedos given their 'age of consent' but Japan is one of the most expensive countries in the world to visit or live. Whatever you save if you give up Thailand because of the strong Baht you will never make up by moving there.

Cambodia or Laos or just staying put and cutting your cloth accordingly seem to be the best options.

I don't think you'll find Cambodia or Laos to be any cheaper than Thailand, unfortunately.

Traveler Jim:

Disturbing, but acurately predicted by almost everyone that knows anything about monitary policy....this is no surprise. This is not a rise in the value of the
Baht, but rather a colapse of the US Dollar.

This collapse of the US Dollar is just one more of the unintended, but totally predicted, consequences of the village idiot Bush's policies. Spending money like a drunken sailor on unneeded wars and pork while borrowing from China does have real consequences. I'm no genius but I saw this coming several years ago and moved out of dollars, while, also, moving to inflation proof investments. There is only one way for America to pay back its debt...INFLATION. You barrow expensive money...let inflation cheapen it and then pay the debt with inflated/cheap money. It's an old tried and true trick; how do you think America paid for the Vietnam War?????

I will not be surprised if the Baht does not stop at 25. The US Congress shows no signs of bringing Bush's craziness under control, and combining that with a Thailand that has a newly elected government with a good economic plan could be a perfect storm for American expats, and the Thai economy could take off like a rocket and shoot right past the 25 mark.