Crash of exports : “it’s a surprise” says the BOT governor…

After “the crisis is not that bad because it didn’t start in Thailand ” (read here)… Tarisa, the alleged Bank Of Thailand’s governor, is coming back with her new show : “It’s a surprise ” !

A great comedy, for people of all ages.

”Many other countries have already experienced [steep] declines in exports. Now, we are recording a worse decline than others,” she said. ”As a matter of fact, [the export declines] are a surprise for the region, as there was the thought that the rise in intra-regional trade could save exports. Now we know that this hope has dimmed. Our exports to China have dropped quickly in recent months.” (Bangkok Post)

First point, what does mean “worse decline than others” ? How come an official, with an important position, can make such false statement ?

Sure thai exports are crashing (read my article), and will continue to do so, but the situation is not as bad as Japan, Korea (-32 % in january) or Taiwan !

Second point (and the best one) : the surprise. Ah… the surprise… How convenient this concept is.

It’s always the last weapon of politicians and bureaucrats : we didn’t know ! It came without warning. Nobody could have guessed. We are not responsible. Bla bla bla.

Tarisa should review her sources, and peruse my blog. Among others, like Calculated Risk and Mike Shedlock. That would certainly help her. And she wouldn’t be surprised anymore. 😉

9 Responses to “Crash of exports : “it’s a surprise” says the BOT governor…”

  1. 1 Mark 24 February 2009 at 2:54 am

    I really don’t think Tarisa would understand those blogs if she read them. Given her previous statements of denial that the Thai economy is safe because the problem did not start here – despite the level of exports to the US and Japan. It reveals a huge lack of insight into the world economy.

    I just don’t understand how these people can keep their jobs and be so completely useless. My favorite is still the ICT minister, referring to a webcam: “what’s that thing called again – webcom?”

  2. 2 World Citizen 24 February 2009 at 5:49 am

    More from the amazing planet Lalaland:

    “Thailand’s financial institutions are the most stable in the world, according to Finance Minister Korn Chatikavanij.”

  3. 3 thaichris 24 February 2009 at 6:02 am

    Here we go. Everybody ready to leave the sinking ship?

    Thailand to suffer most from crisis
    Published: 24/02/2009 at 12:21 PM Thailand will likely suffer the most from the global economic crisis in Asia, according to forecast of Moody’s Analytics.

    The forecast was made after the National Economic and Social Development Board (NESDB) revealed that the country’s gross domestic product (GDP) in the fourth quarter of last year fell 4.3 per cent while the industrial output shrank 22.3 per cent when compared to the same period of 2007.

    Moreover, the demands for electronics, electrical appliances, automobiles and other industrial products went down, and the plummeting agricultural product prices severely affected the export sector.

    The tourism industry lost a significant amount of revenue after the People’s Alliance for Democracy (PAD) blockaded Suvarnabhumi and Don Mueang airports last year. Public spending also declined while foreign investors became more hesitant to do businesses in the country due to continuing political uncertainties.

  4. 4 World Citizen 24 February 2009 at 6:09 am

    Thailand to suffer most from crisis:

    In summary, even if foreign investors had money to invest, it wouldn’t be in Thailand! Plus, the constant stream of detrimental news from Thailand is persuading the rapidly diminishing numbers of international tourists to look elsewhere.

    Future prospects – bleak

  5. 5 ThaiCrisis 24 February 2009 at 7:18 am

    Indeed, this one is very tasty. 😉 Korn is a real winner. It’s not the first time he opens his big mouth.

    More on that later.

  6. 6 fall 24 February 2009 at 3:06 pm

    And Korn and Tarisa probably believes pig can fly…
    Oh boy, talking about politician with their head in the sand. It’s stop being funny about 6 months ago and just down right pathetic.

    If Tarisa cant see this coming(or dont have a solution), QUIT! And let someone else who can do the job…

  7. 7 thaichris 25 February 2009 at 4:19 am


    Any suggestion who could do te job? Remember it need to be a Thai citizen.

  8. 8 World Citizen 25 February 2009 at 6:07 am

    If Korn and Tarisa had kept their mouths shut, people would not have taken them for particularly competent in economic affairs, but at least they would not have lit up their incompetence with a neon sign.

  9. 9 fall 25 February 2009 at 2:09 pm


    Now that’s a hard bone to chew.
    No financial-capable person would want to go in, do the right thing, and get bullet in the head as reward. The risk outweight the return, so to speak.

    The second best thing would be a gutsy someone with enough influence and power to carry through, back by a team of financial and economic advisors.
    Keyword: TEAM, no one person can do the job and does not have to be Thai.

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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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