DANGEROUS ADVICE FROM DAILY XPRESS
Okay, another Daily Xpress rant but I would rant if this particular piece had appeared in any newspaper here. Firstly I will say that I am not an economist, however I think Saturday's Daily Xpress front page story (yes, front page story) contains some particularly dangerous advice.
Headlined 'Weak $ Makes You Strong' if offers '10 ways to make best use of the Thai baht'.
Item one: shop for imported goods whose prices have turned you off in the past. Surely the Thai economy will suffer big time if anyone takes that seriously? Stop buying Thai and buy imported goods. Jobs will disappear, yeah .. good advice from Daily Xpress there.
Item Nine: Buy a subscription to British Cosmopolitan or US Vogue magazines because they are finally affordable. Surprising advice this considering NationMultimedia's own division Media Expertise publishes a number of Thai language editions of overseas magazines.
Item Ten: Since current mortgage rates will bottom out by mid-year (oh, really?) those who are considering a mortgage should do it now. Yes, okay, and end up in exactly the same situation as America finds itself in now. When rates rise and people cannot pay what happens then Daily Xpress?
The fact is that the Thai baht is strong against the dollar right now, but that's more down to the weakness of the dollar than the Thai economy. To give the impression that the baht is strong because of the strength of the Thai economy is, in my opinion, seriously misguided.
2 comments:
item 10 is a brilliant move. If I take this advice seriously and find myself in a tight spot in the future, I would have to stop my bkkpost subscription and feed on what Daily Xpress feeds me.
Perhaps that's their plan Sajal. They want to make everyone so short of money that they'll actually enjoy reading Daily Xpress at the only source of free printed gossip ? :-)
Post a Comment