How to fight inflation ? By avoiding the “panic”

More non sense coming from the thai authorities regarding price controls, as apparently, more products are added to the list. Here is a report published by the PRD.

The Department of Internal Trade (DIT) says the control of commodity and service prices is aimed at assisting both entrepreneurs and consumers.

Assisting entrepreneurs ? Those who are selling those commodities ? ;-) The farmers who grow crops and are suffering from increased costs (gasoline) ?

DIT Director-General Yanyong Puagrach discloses that the Cabinet has approved the department’s request for the price control of 34 commodities and one service. He adds that the department decided to curb the prices due to too much supply and price fluctuations.

Too much supply” ? It’s exactly the contrary ! Prices are going up, due to a strong demand (palm oil) and/or low offer (for instance wheat), and/or monetary disorders (explosion of money supply, exchange rates imbalances).

The director-general states further that the department has yet authorized price increases of any commodity and service since the end of last year. He affirms the department will not reveal requests for commodity price hikes to prevent panic over the matter and product hoarding.

Unfortunatly, that’s the typical thai way. Keep the secret, don’t talk to the “plebs” (they are so stupid, they couldn’t understand) to avoid “panic”, and praying that everything will be fine tomorrow (and lighting a few candles, it could help).

3 Responses to “How to fight inflation ? By avoiding the “panic””


  1. 1 Fonzi 17 January 2008 at 7:59 pm

    During the 1970’s, US President Gerald Ford had the nifty idea of beating inflation by having people wear “WIN” (whip inflation now) buttons.

    I’m surprised the Thai government hasn’t ripped off that idea yet.

  2. 2 thaicrisis 17 January 2008 at 9:16 pm

    Nice one Fonzi.

    That shows that idiocy is a very abundant commodity in the world, and absolutly not a thai monopoly.
    ;-)

  3. 3 fall 18 January 2008 at 2:06 am

    Err… I think my common sense failed me.
    How does withholding information about price increase be beneficial to consumer? Wouldn’t it actually be only beneficial to entrepreneur because the price adjustment would be immediate and no one can stock up on cheaper goods?

    What’s next? Food stamp?


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Thailand Crisis

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