Chart, credit card, may : Green Shoots still brown in people’s purse

(Source Bank Of Thailand, table FI_CB_080_S2)

I know : reading about the “road to recovery” (title displayed on CNN TV for instance), “better than expected” figures, “hopes”, “beginning of the start of the end of the recession”… in the USA and even Thailand… you scratch your head.

Anyway. Christmas is not far away… And Santa Claus is going to surprise us. Meanwhile, let’s have a look on credit cards data for may.

The number of credit cards declined by 47 900 at a total of 13,08 millions. Year on year (compared to may 2008), that’s a growth of 6,88 %.

Look at the trend.


And now, with values.


But even with the magic of plastic (“fantastic”, right ?)… the real indicator is… the cash. The money. The dough. The bucks.

The total spending (usage) declined to 70,05 billions THB, that’s -4,73 % compared to may 2008.


What a nice trend line ? Right ? 😉

So to summarize : compared to may 2008, the number of credit cards increased by 6,88 %, but the spendings with those cards decreased by 4,73 %.

A nice “cisor”.

A cisor to cut the Green Shoots.

But don’t forget the official motto : everything will be fine. We are on the road of the recovery. The recession was just a bad dream. You are going to awake in the real world, that is with unlimited consumers spending growth, and each thai individual will have 10 credit cards.


2 Responses to “Chart, credit card, may : Green Shoots still brown in people’s purse”

  1. 1 Bedwyr 2 August 2009 at 3:01 pm

    Off-topic I know… but this was simply too rich to let past.

    Abhisit, the cardboard cut-out, the muppet prime minister from cloud-cuckoo-land, has out-done even himself this day. This day we see the consummate object of ridicule, out-ridiculing himself with not 1, not 2, but 3 items fresh from the looking-glass fantasy world where he lives.

    Weep for Thailand if this is the best they can do. Weep for the Thai elite and the latrine-digging moron Anupong, who this day expose themselves definitively as fools and buffoons for putting this guy up to speak and act in their name.

    Read them and weep:

    Bangkok Post: Sondhi case to be resolved in Sept

    Nation: Govt to verify signatures for Thaksin-pardon petition: PM

    Nation: PM says signs indicate economy started to pick up.

    Jesus fucking Christ.

    This man is truly beyond a joke, he is way beyond even a farce, he is just a clown. TC, where’s your bozo pic? Gimme.


  2. 2 ThaiCrisis 2 August 2009 at 3:47 pm

    Yep. Every week, with his “TV show”, it’s a festival. Always good quotes to pick up.

    By the way you’d notice that last week, “the Sondhi case would be solved” this week… And now it’s “september”. Or Christmas perhaps ? More certainly : the next century.

    As for the recovery… well… they did it before him. “Soon” with Surayud. “Soon” with Samak. Now, it’s “soon” with Abhisit.

    Same story. In Thailand and elsewhere (look at how excited Obama, Nicolas Sarkozy, Bernanke, Trichet etc. seem to be).

    It’s of course nothing but a show. Theater. And the title of this show is “confidence”.

    But the audience is tired. Too many audio and visual “stimulus” in recent days…

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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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