Space-time continuum breach : Bank Of Thailand sees signs of economic recovery !


(Caption : “1,2,3 Lift off ! The Bank Of Thailand goes orbital”).

Bank of Thailand (BoT) deputy governor Atchana Waiquamdee on Wednesday voiced confidence that the country’s economy this year would not experience negative growth, despite the world economic situation, saying the central bank began to witness signs of recovery in the first quarter.

She said the gross domestic product (GDP) is very unlikely to shrink in 2009 since the economy in the first quarter began to have signs of recovery after various fiscal measures were taken.

The measures, if successfully implemented, would help improve the economic conditions. (TNA)

Poor Atchana… Her statement will follow her all her life…

I mean, it’s even more striking than a breach of the space-time continuum, or an episode of the Twilight Zone… she’s is far, far away in another solar system.

But good for her : ridicule doesn’t kill.

More seriously, it’s the tipping point. When the politicians and the bankers start to make such comments, you can run for cover.

It’s the “McCain Moment”, when he said in september, the same day of the Lehman Brothers collapse, “the US economy is resilient“…

Or when Paulson and Bernanke were saying last august “the US banking system is sound“. 😉

Run. And run fast.

3 Responses to “Space-time continuum breach : Bank Of Thailand sees signs of economic recovery !”

  1. 1 fall 16 January 2009 at 12:41 pm

    The title got me chuckling. Nice.

  2. 2 Insanity 17 January 2009 at 5:36 am

    If governments continue their attempts to rescue all banks and hedge funds, and to honor all demands from private financiers for ever greater sums of taxpayers’ money, then we can be certain that we will see an even more dramatic collapse of the real economy, an explosion of hyperinflation in the near term, and a descent into a new Dark Age. Europe’s nations must support a full bankruptcy reorganization. Public and commercial banks, and the assets invested in them, must be put under protection, whereas, like it or not, financial institutions and investment funds that are more engaged in speculative activity, will have to take their losses on the chin.

    Meanwhile, more banks are lining up at the public trough. But the situation continues to grow worse; the interbank market is stagnant, credit supply to small and medium-sized firms is drying up, the collapse of the real economy is deepening, and exports and orders are plummeting. Obviously, the “instruments” that have been pulled out of the wonderful toolbox all the rescue packages, stabilization funds, and economic stimulus programs—are completely ineffective.

    Recently German Chancellor Angela Merkel, and former British Prime Minister Tony Blair. Tremonti rightly called for separating the healthy activities of banks from the toxic waste. He compared the financial crisis to a video game in which the player is confronted with one monster after another; but the biggest monster of them all is still ahead: the derivatives crisis. Outstanding derivatives obligations are currently 12.5 times larger than the GDP of all the world’s countries, and therefore, according to Tremonti, they must be frozen for 50 years. It is simply impossible to finance this mountain of private debt through public funding. Far more important, is saving families and businesses. At the meeting, Rocard likewise said that in view of the magnitude of outstanding debt, he favors a full bankruptcy reorganization.

    If people continue to attempt to finance the toxic waste with quadrillions (!) of taxpayers’ money, the collapse will continue its course

  3. 3 Insanity 17 January 2009 at 5:39 am

    Reality is that a world financial and economic breakdown is in full swing. Factories are closing, and production of vital commodities is collapsing by double digits, month to month. Millions are being laid off, as just a foretaste of what will be happening in the rest of 2009. Hospitals and schools have no money to function, and many vital services are just going to shut down. If nothing is done to replace the bankrupt financial system which has created these disasters, civilization itself is going to disappear, and very rapidly indeed.

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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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