First words of the new clown : ” there won’t be another financial crisis like 1997 “

A perfect beginning, a delicious hors d’oeuvre, if I may say !

The first words of the new Finance Minister (leader of the Puea Thai Party) are at the level of the rest of his team : empty at best, stupid at worst.

He said the BOT would ask large commercial banks to provide liquidity to any insurance firm facing financial trouble. “It’s only a preparation for the worst-case scenario,” he said.

He said the US financial crisis had not had any negative impact on local life-insurers. The government and the BOT are closely monitoring the economic situation, he added.

“I can assure everyone that there will not be another financial crisis like the one in 1997,” he said.

He intends to persist with the six cost-relief measures implemented by the Samak Sundaravej government. He also vowed to fully support grass-roots people through government spending projects. (Nation)

So to summarize :
-more of empty promises

-more of the powerless speech “sleep well everything is fine, weather will be nice tomorrow”

-more of costly and counter productive subsidies, more gifts, more “stimulus“, more cheap dildo policies

-more of less (Suchart is obsessed with low interest rates, he thinks that it’s the magical broom to clean up any economic mess… He doesn’t even know that real interest rates are already negative).

-more of the same bullshit policies they fed the country with since… well… since forever.

Let’s not forget that they gave the Industry Minister position… to a policeman.

A cop. Yes, it’s not a joke. It’s very serious. Police General Pracha Promnok… 😉

So I wouldn’t say, like Bangkok Post, that the new eco team is “amateur”… No… because it would be an understatement.

Anyway, we shall rejoyce : all those little thai politicians are going to be totally wiped out by the global crisis.

5 Responses to “First words of the new clown : ” there won’t be another financial crisis like 1997 “”


  1. 1 thaichris 26 September 2008 at 4:45 am

    What do you expect from a governement, where

    … Prime Minister Somchai Wongsawat admitted yesterday that his Cabinet was far from perfect and that certain ministers were “mismatched” with their positions …

    At least the PM knows, that he is leading a bunch of clowns. As they already relocated to Don Muang, they could open there a dependency of Barnum & Baily’s.

    Time for your Bozo pic.

  2. 2 ThaiCrisis 26 September 2008 at 4:51 am

    Hum… I wanted to keep it for a while… The bozo pic.
    😉
    Actually, I’m hesitating… The news about the 3 ministers… already in a courtroom, 24 hours after their official nomination is, I think, a good candidate for the bozo pic, don’t you think so ?
    😉

    The problem is : I can’t use it everyday ! People would get bored.

    But actually, I should.

  3. 3 chinesethai 26 September 2008 at 5:41 am

    I told you that this guy (Suchart Tadatamrongvej) made a living by appearing for 5-10 minutes on cable TV morning news for 10 years. No doubt, his comments were extremely in favour of “Thaksinomics”. By licking Thaksin’s ass, he was rewarded by appointments to sit in numerous boards of director in many SoEs, earning at least 3 million Baht a month!

    Most of Thaksin’s underlings are just like that. Conflicts of interests are all over.

  4. 4 chinesethai 26 September 2008 at 5:42 am

    That’s why I don’t feel like this country has ever had a government at all. Everybody is on his/her own for survival.

  5. 5 Bedwyr 26 September 2008 at 2:47 pm

    I dont know why this is a disappointment. I have stated before, and it is right, that Thais do not enter politics to manage the country, but to enrich themselves and help their family/mates.

    And those who vote for these people must be completely stupid not yet to have woken up. Thaksin, who had such ‘loyalty’ from the poor, was a thief, but a clever thief who had studied the modus operandi of Ferdinand Marcos very carefully.

    Fortunately for Thailand, his true colours showed during the sale of Shincorp, and have been uncovered ever since.

    God forbid this blog should ever become an apologist for this criminal like Bangkok Pundit and Thai Jumped the Shark.

    Bedwyr


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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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