Industry Minister begs for 16 billions and believes in multiplying bread

Industry Minister Charnchai Chairungrueng yesterday said after the first meeting of ‘War Room’ committee between representatives from private and governmental sectors that it expected to ask for the Bt16.38-billion budget to stimulate spending and sustain employment.

The war room is a centre of co-ordinating among state agencies to restore the investors’ confidence.

The war room ? We are scared. 😉

With the budget, he said, it expects investment applications for Board of Investment (BoI) privileges to rise to Bt1.25 trillion within three years.

While at least 546,000 jobs will be saved, the fund would also be used to support 130,000 small-to-medium sized enterprises (SMEs) to improve their businesses and inject liquidity to 50,000 enterprises. It will help no more than 45,000 fresh graduates to start their own businesses.

Totally, this amount should create circulation of more than Bt300 billion,” he said. (Nation)

Sure. Why not 600 billions ? Or 9999 ? I mean it sounds better than 16, right ?

The minister is like Jesus multiplying the bread.

And once again, there is this nasty fascination for the power of the verb.

“Thou shall invest. I command you, foreign companies, to invest and apply for BOI, here and now. So be it. Quick quick leo leo. My name is Charnchai. Feel my resolve. ”

Does he seriously believe that his mere 500 millions USD are going to convince businesses to come ?

The “minister” should remember that businesses are not made to please him… and actually they don’t give a rat shit about his face (just another temporary minister anyway)… businesses INVEST IF PROFIT CAN BE MADE.

If there is no demand, no opportunity, no profit to be made, then there is no investment. Simple. BOI or no BOI, it doesn’t make a difference.

Do we have to spell it in chinese or javanese ? I mean, it’s frustrating, even in Washington, Paris, London they just don’t understand !

Paulson, Trichet, Sarkozy, Brown, Obama and all the clowns… we hear the same hallucinated messianic kind of speech : “Banks ! I command you to lend more ! Consummers ! I command you to spend more ! Thou shall consumme. So be it”.

It’s pathetic. When this nightmare will end ?

Speaking about the BOI :

Investment applications dropped 29.69 per cent to Bt446.3 billion last year, the Board of Investment said yesterday.

The number of projects also declined, by 1.64 per cent to 1,262. Secretary-general Atchaka Brimble said this year’s target would be maintained at Bt650 billion, if upstream steel projects could be kicked off. (Nation)

And it’s only the beginning. With worsening conditions (globally), businesses are cutting their development projects… We don’t have any visibility. For that matter, it doesn’t make any sense, now, to invest and expand capacities.

9 Responses to “Industry Minister begs for 16 billions and believes in multiplying bread”

  1. 1 Patiwat 12 January 2009 at 1:15 am

    whenever it ends it’ll defintely be ugly

  2. 2 FDL 12 January 2009 at 1:49 am

    Smart Thai politicians usually seek opportunity in the face of misery. And circumstances of recessionary 2009 promise enough misery that I am certain this Democrat-led coalition must be bumping their heads silly to scheme how to best profit therefrom.

    Particularly when it involves ‘releasing’ government bail-outs or subsidies to suffering industries – – THAT would be golden opportunity indeed!

  3. 3 Bedwyr 12 January 2009 at 5:06 am


    named to create the impression that this is serious. This is time for deep thought and action. None of your usual Thai fecking about, talking a good game, general indecision and incompetence, nossir. This is serious. Or at least, this is the impression that the name ‘The War Room’ is intended to create. Thais just can;t let go of the propaganda.

    But I wonder what actually went on in THE WAR ROOM:

    Industry Minister Charnchai Chairungrueng: “Boss, boss we got to do something. We got problems, the US going down the toilet, the world goind down the toilet (not the same toilet of course that would need a very big toilet. I mean just think about the size of…

    Abhisit: “Shut up Charnchai, you’re rambling again, take your lithium”

    Industry Minister Charnchai Chairungrueng: “OK boss, I did that already. I feel much better now. What we gonna do boss? Just saying we have the King may not be enough to get us out of the shit this time.

    Abhisit: What? Why not? It always worked before…

    Industry Minister Charnchai Chairungrueng “I know boss, but , well, he is old and… (whispers), well, not the full shilling now. And anyway there is all that bad stuff written by the stupid foreigners who don’t understand Thailand. Why, they may not even believe the King is immortal any more. Stupid fecking foreigners – right?

    Abhisit: Right on man. They all stupid and no mistake. Why I remember my time at Eton. All stupid. Oh. Except there was this one boy. He thought I was very pretty. He was so big and so strong and…

    Industry Minister Charnchai Chairungrueng “Shut up boss, you know all that gave you haemarrhoids. Remember what the doctor said. No more foreign objects – OK? That means things attached to foreigners too.

    Abhisit: “Well, yes you are right. But he was very big and so strong. All those muscles (sigh). Anyway, what we gonna do about the econonomomy? How much you want?”

    Industry Minister Charnchai Chairungrueng “Well, boss, it needs to sound like a lot. How about 16,000,000,000? That’s got a lot of zeros.

    Abhisit “Yep. That’ll impress the plebs right enough. Do I look pretty in this nice new white uniform?

    Industry Minister Charnchai Chairungrueng: “No boss, the ass is too tight.”

    Abhisit: “OK, never mind. I don’t really fancy you anyway. Too ugly for a pretty boy like me. And no muscles. And a *really* tiny pee-pee. Now, this 16 billion baht. How many jobs can we tell them it will save?

    Industry Minister Charnchai Chairungrueng: “Well, boss. I don’t know. It may not save any.”

    Abhisit: ” What? We can’t tell them that. Even stupid Thais won’t buy that. We can’t even tell them that 3,000,000,000 of it is going to Newin. Where are all the finance people?

    Industry Minister Charnchai Chairungrueng: “Boss, we haven’t got any. Remember the PAD stole all the calculators? Thais are never taught to add up – more then 10 and we run out of fingers.”

    Abhisit: “Buy some more then, you stupid boy.”

    Industry Minister Charnchai Chairungrueng: “Boss, boss, we have been trying. We haven’t fixed the deal about the kickbacks yet. It wont be ready for another 43 days at least.”

    Abhisit: ” Oh bugger. What about Pridyathorn? Has he lost his calculator too?”

    Industry Minister Charnchai Chairungrueng: “No boss, but you cant pick him. Everyone already knows he is a dickhead. Look what he did to the stock market last time. The Wall Street Journal called him remarkably incompetent. Very impolite.”

    Abhisit: “OK, then we’ll just have to make some shit up. How about 500,000 jobs saved? No, that is too round. erm… I know! How about 546,000? That’s believable isn’t it?

    Industry Minister Charnchai Chairungrueng: “Boss, boss. Thais bellieve the King makes magic rice seeds, they will believe any old shit. They would believe 2 billion jobs of you told them. Anyway, 6 weeks and no-one will remember anyway. Remember we have given them shit education for 60 years. Which is why you and me went somewhere else for our educations. Right?”

    Abhisit: “Yah, They trooly stupid indeed. OK. Now. How about SME’s? How many we got?

    Industry Minister Charnchai Chairungrueng: “Don’t know boss, we never counted. Must be a lot though, all those market traders and all. Millions probably.”

    Abhisit: “Hmmm. Well, perhaps we can make up something smaller. Ooh, I know. How about 130,000 SME’s and 50,000 enterprises? Sound believable?”

    Industry Minister Charnchai Chairungrueng: “Boss, boss. SME’s *are* enterprises. They are the same thing.

    Abhisit: “Well bugger me with a fish-fork. I never knew that. never mind, these are Thais aren’t they? They believe anything someone in a uniform tells them.

    Industry Minister Charnchai Chairungrueng: “You a genius boss. How many students will be saved?”

    <Abhisit: “Students? How many pretty ones do we have with big muscles and decent sized pee-pees?

    Industry Minister Charnchai Chairungrueng: “None boss. All Thai students are Thais. remember?”

    Abhisit: “Oh yes. OK then. How many got foreign degrees? You know Thai degrees are worth shit.”

    Industry Minister Charnchai Chairungrueng: “45,000 counting last years boss. All the usual families, you know…”

    Abhisit: “OK, better save them then. Give them all jobs. All Thai graduates run ut of numbers after 10. But they buy their own calculators – OK?”

    Industry Minister Charnchai Chairungrueng: “Right boss. That sounds good enough for Thais to swallow. Now, what do we call this meeting?”

    Abhisit: “Don’t say ‘swallow’ Charnchai – brings back too many memories. let me see now. It got to sound impressive. As impressive as this pretty white uniform I got. How about something that makes me sound like a soldier. No wait! A sailor. Even better. How about…

    T H E W A R R O O M??
    Abhisit: “

  4. 4 Insanity 12 January 2009 at 5:25 am

    FDL_spot on!

    The signs are overwhelming that we are in the midst of the collapse of the entire world financial and economic system; yet despite this, governments continue to act as if everything can be cobbled back together with the aid of the usual “toolbox,” out of which each country grabs the most appropriate tool. Are orders in key industries down by 30%? Is world trade collapsing, and is there a crisis in confidence worldwide? No problem! We’ll just take out our old tools and manage the situation.

  5. 5 ThaiCrisis 12 January 2009 at 6:01 am

    Very nice Bedwyr.
    I guess the cold weather inspires you. 😉

    By the way, we have a first glance on the december exports massacre… with the figures released for Taiwan…
    Ready ? Exports dropped by 42 %, year on year !

    It’s going to be nasty.

    We will have the first figures for Thailand (for december), around january 20-22…

  6. 6 Insanity 12 January 2009 at 6:05 am

    A Worldwide Crisis of Confidence

    Up to now, no government statement, and nothing in the public debate in the media, has indicated any serious intention to delve further into the true causes of the current crisis of our financial system and of our entire civilization, or to analyze precisely why all the so-called experts were caught so completely “by surprise.” And the immense crisis of confidence will only grow worse until this occurs.

    What is the average citizen to think, then, when it’s clear that the entire casino economy is evidently based on nothing but corruption, lies, and deception.

    Governments must finally wake up. Unless something is seriously done to reverse the growing crisis in public confidence, especially among the youth, the kind of social unrest we recently saw in Greece is a mere foretaste of what will erupt in other countries.

  7. 7 Marvo 12 January 2009 at 12:53 pm

    Bedwyr, you’ve made my day.

    ThaiCrisis should give you a regular column!

    (Ooo err missus, I’ve just realised wot I just wrote).

  8. 8 Amused 12 January 2009 at 4:19 pm

    This is the problem when the Democrats are the government. Abhisit and Chuan are good at talking, but knows nothing about economics. Korn? He is also good at talking. His JP Morgan background will not help. Of course the Amarts like these men’s polite and courtly manners.

    They think they are safe now with their by-election victories but grass root people are seething with anger over their economic incompetence and reluctance to take action against PAD. The cockcroach party executives are now even already having sleepless nights on the eve of the Asean summit.

  9. 9 FDL 13 January 2009 at 2:55 am

    Bedwyr’s getting overly excited . . . about muscles and swallowing – – ha ha.
    What have you been reading lately Bedwyr other than Econ 101?

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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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