OPINION

Wrong conclusion

Re: "Thailand's irresponsible runaway debt", (Opinion, June 11).

In his latest column, Thitinan Pongsudhirak gushed a torrent over government debt. During periods of economic distress in which consumer spending has dived and companies aren't investing in productive enterprise, the government should ramp up spending to try to fill the gap and it should borrow heavily to do so -- that's basic Keynesian economics.

The time for the state to ease back on borrowing and spending is after the economy recovers, not in the middle of an unprecedented shock.

The government can borrow in its own currency, so it should mobilise as much funding as is necessary.

The benchmark 10-year government bond yield remains below 2% -- a level so low that issuing new debt is almost free.

With private investment weak, there isn't any risk of the government crowding out the private sector in the credit markets (if there was, market interest rates would be substantially higher).

And so long as the long-term debt-servicing cost growth trend remains below the long-term nominal GDP growth trend, there isn't any substantial risk in borrowing in your own currency.

So, no the government is not "leaving a massive bill for younger Thais to repay over their lifetimes".

One can justifiably argue state failures during the Covid-19 era, but claiming that the government is borrowing too much is wrong.

Re: "PPRP wants Senate to keep powers", (BP, June 12).

Not surprisingly, the ruling Palang Pracharath Party wants to keep the constitution's Section 272 untouched, for it gives the fully-appointed Senate the power to join MPs in selecting the prime minister.

To recall, PM Prayut hand-picked all senators according to never-announced criteria, and they obligingly voted en masse for him as prime minister shortly thereafter.

Having the 250 PPRP-appointed senators join our 250 elected MPs in selecting the prime minister in effect means the PPRP's candidate starts with 1/3 of total votes in his pocket -- and is assured of winning with just 1/6 of the popular vote.

This setup is almost akin to the Communist method of having a single candidate to choose from, and is designed to enable a near-dictatorship.

We the people should remember that senators are to serve the entire country -- not a single person or party. We should require that Section 272 be abolished or all senators be elected, so that we may have, in the words of Abraham Lincoln, a "government of [all] the people, for [all] the people, and by [all] the people".

Re: France wins approval to vaccinate older expats", (BP, June 12).

Congratulations to the French Embassy for arranging to import Covid vaccines not only for their own citizens but for those from Belgium. It shows great caring. Thailand's performance over vaccination is pitiful. Let's hope that other countries share the concern for their nationals overseas, like France is showing its citizens.

What's wrong with foreigners who live in Thailand?

Some of them have lived and worked here for 30-40 years! They have work permits, they pay their taxes, they have their social security in order, and they report themselves to authorities every 90 days -- only to be told by their hospitals that the vaccines are for Thais first!

Do you think foreigners can't get Covid and spread it to their spouses? Can't their spouses then spread the disease to their Thai families?

Some of our friends took their Thai spouses to their countries to be vaccinated. No question, this is racist!!!