Pridiyathorn sounds public debt alarm

Published: 15 Mar 2013 at 18.09
Online news: Tourism

Former Bank of Thailand governor Pridiyathorn Devakula has warned the government about excessive public debt because of its populist policies.

MR Pridiyathorn: Call off the rice mortgage scheme

"I'm concerned that the public debt will soar," MR Pridiyathorn said on Friday at a seminar on the impact of populist polices on the economy.

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oldexp
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Discussion 31 : 17 Mar 2013 at 02.4831
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Dis 25 .. doesn't work is harsh. Transport works, sometimes (most times) late, sometimes not connected, sometimes rather stinking, sometimes very slowly....... OK, sorry, public transport works.
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siamitude
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Discussion 30 : 16 Mar 2013 at 16.4830
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Always nice to get advice from the man that made one of the biggest economic blunder of all time in Thailand.
http://www.nationmultimedia.com/2006/12/20/headlines/headlines_30022044.php
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alpha
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Discussion 29 : 16 Mar 2013 at 16.4629
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MOD advice :just one 4 letter word will kill your otherwise astute comment. - thank you for your attention
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abbub
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Discussion 28 : 16 Mar 2013 at 09.0928
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PETE D23: people grasp at thin air and making sweeping conclusions.

They denounce European economics (as dubious as it is) forgetting the EU guarantees free health care for all and minimum income no matter what. It may be fighting to hang on but the problems are due to playing ball with big bankers/business a la US "free market" and not because people are pampered.

In the USA 70 million people have no proper health care and 46,000,000 people (according to government stats, so probably more) are living below the poverty line.

In the USA you are free to read any book you want...and live inside a cardboard box, but not on Main Stre
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kena
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Discussion 27 : 16 Mar 2013 at 08.3227
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Thaksin is running the Thai gov't, particularly as regards money matters. He's the prime mover behind the failed rice program and, like all rich people, he subsists on borrowed money. For that reason (and to copy the US) He's steering Thailand to borrow obscene amounts of money. Bad plan.
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pjt
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Discussion 26 : 16 Mar 2013 at 07.2326
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The eventual answer to excess levels of public debt to GDP will be higher inflation - because economic growth rarely exceeds trend for long enough to make a difference and anyway the surge is usually fuelled by government stimulus funded by borrowing. Spending cuts are not accepted by electorates grown used to excessive public provision (funded by borrowing) and tax increases reduce economic growth. Thus inflating away the debt is all that is left - that is what we should all be concerned about as it hits the poor and those on fixed incomes (such as retired folk) especially hard. That is why not incurring excess debt is important
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ggh
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Discussion 25 : 16 Mar 2013 at 07.2125
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Dis 16 - What public transport doesn't work?
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bkposter
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Discussion 24 : 16 Mar 2013 at 07.0424
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Re: D10, yes what you say is true, and the man interviewed for this article is a DP appointee. but if you want to know why the political propaganda is printed by this paper as fact just do a wikipedia search for the BKpost and make a careful analysis of ownership and political affiliation. It will help you understand their position on several issues.
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pete
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Discussion 23 : 16 Mar 2013 at 06.3923
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Hold on a minute spiceman: (Disc 18) you say “The EU is on a slow death spiral of economic collapse with no way out”. The gross public debt of the EU is 84% weighed down mainly by Greece, Italy, Spain and Portugal. The gross public debt of the US is 103% weighed down by being the world’s policeman. Continuation would be a rather faster death spiral.
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musashi
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Discussion 22 : 16 Mar 2013 at 05.4722
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Englishboob #6: You want facts? Ok, here’s one: More than 1.5 Trillion Bht of debt was incurred by AV's government in 2 years (double the combined debts of the previous 26 governments over more than 30 years) and quickly spent on boondoggles. Not counting the billions given to those who put them in power to buy military toys that do not work.

The recklessness, lack of transparency of AV's junta appointed government is a proven fact.

The recklessness, lack of transparency of the elected PT government is yet to be proven.
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Pridiyathorn sounds public debt alarm | Bangkok Post: business

Pridiyathorn sounds public debt alarm

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