Here is Le Menu Du Jour : Green Shoots Salad.
It’s organic, but not very tasty, I warn you.
Consumer Confidence Index (CCI) fell to 71.5 from 72.1 in April. To Thanavath Phonvichai of the university, the index was the lowest in 90 months, as Thailand suffered from the global economic downturn as well as a volatile political climate which led to growing joblessness and higher living costs. (Nation)
It’s only an index. But… wait a minute… I thought that after the “revolucion” (april), after the National Bribe from Abhisit (2000 THB for 8 millions people) plus the Green Shoots from Obama… thai consumers would be literally electrified and would go on an insane and obscene buying spree ? 😉 No ?
But I forgot foolishly that GDP crashed 7 % on Q1… that taxes collections are falling, that exports are still crashing (-26 % in april, and probably the same in may if we consider data from other countries), that credit to businesses is going down, that unemployment is increasing, that the South is still on fire, that the government is weakened by scandals, that Abhisit still shows his stupid smile on TV every week end…
Indeed, as a thai consumer, I would definitely jump into the Chao Praya River. And I would not buy a new car.
Thailand’s overall advertising expenditures in May fell by 7.07 per cent on yar to about Bt7.3 billion, according to The Nielsen Company (Thailand). Television advertising expenditure dropped by 4.9 per cent year on year in May alone to Bt4.3 billion.
Businesses have lower profits, because of lower demand… so they cut advertising budgets. It’s Economy For Children 101. It’s easy as 1+1 = 2 (eventually). But probably still… too complex to understand for the Green Shoots Lovers.
LET’S GIVE SOME MONEY TO GM AND FORD SO THEY CAN PRODUCE MORE CARS
Finance Minister Korn Chatikavanij has told state-owned banks to consider lending to two giant carmakers, General Motors and Ford, but he insists they will not receive any special treatment from the banks.
He urged the two auto-makers to expand their investments in Thailand. “It is a positive for the economy, as the investment would create jobs”, he said yesterday.
Korn is hopeless. He has only 3 neurons and they are not interconnected. Bad luck !
The alleged Finance Minister probably wants his bailout or TARP program US style… He “urges” banks to lend money to those car companies… but of course there isn’t any “special treatment”…. 😉
And obviously, investments would be good for the country… Sure ! Honey would flow. Birds would sing. Women would run naked… Welcome to the Golden Land, the Suvarnabhumi.
But Korn was probably on the moon on june 1, when GM went into bankruptcy. Andfurthermore, to lend money so they can invest… but to do what ? What ? Arai na khrap ? To pro-du-ce cars ? Shocking. But they can’t even sell the cars they produced yesterday… 😉
Korn doesn’t know that the car market is crashing worldwide. This clown “urges” companies to increase their production capacities… when the same companies are closing factories to reduce their production capacities and costs. Even my dog (but he’s really smart) knows that there is a little contradiction in such an idea…
Voila, dear friends, that was my Green Shoot Salad of Le Jour.
I won’t wish you -obviously- a bon appetit. 😉