Rising living expenses ? Surapong advises people to take more debt

We know that the Finance Minister is not afraid to call Lord Buddha’s help (read here) and is a partisan of the “middle path economic policies“.

Here is another example of this philosophy…

State-owned financial institutions should cut their lending rates to help borrowers suffering from rising living expenses, says Finance Minister Surapong Suebwonglee.

He said he had no firm targets on how much state banks should reduce rates, as it depended on the funding structure of each institution.

“This is not an order. But I do think banks should help to relieve some of the burden for the public,” Dr Surapong said.

The call comes even as loan and deposit interest rates are rising across the banking system. (Bangkok Post)

We always go back to the same point : cheap money, more debts, more fuel in order to boost the “boost”. 😉

You are suffering from inflation ? Your purchasing power is decreasing… Surapong has the solution for you : “take more debts !” 😉

Totally twisted logic.

1 Response to “Rising living expenses ? Surapong advises people to take more debt”

  1. 1 links for 2008-07-02 : Trader Eyal Trackback on 2 July 2008 at 2:31 pm

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Thailand Crisis

Coup, Economic slowdown, Terror In the South... The situation is worsening in Thailand. Bumpy road like often before.

But this time, it's different.

The key to understand the present turmoil is the inevitable... succession of King Bhumibol.

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