Topic: The Thailand government will distribute money to its citizens. Economists critic - page 2. (Read 505 times)
November 15, 2023, 09:45:22 PM
Distribution of money to people in my country has been done for a long time, but with different methods. Even residents in my country receive it once a month or once every 3 months. But people here are free to use their money for anything as long as it meets their living needs. But there are also programs that give money to the community to be used as business capital. But there is no program that requires the money given to be spent within a certain time limit. But I see what the Thai government is doing to stimulate the market there. Because there may have been a decline in purchasing power there. Which if left unchecked could indeed endanger the economy there. Or the level of recession will get worse if people's purchasing power and the circulation of money in the market slow down over a long period of time. So the distribution of money is possible to stimulate purchasing power and the circulation of money itself. Since there is a time limit this clarifies everything.
November 15, 2023, 09:33:14 PM
The authorities also want to control how the money is spent. Recipients of the government program will not be allowed to use the received funds for debt repayment, bill payment, tuition fees, gas and petrol purchases, gold or gemstones, internet products and services, alcohol, cigarettes, or marijuana.
-------------------------------------------
Question : is this a planned experiment regarding money supply manipulation and full control over society? Is this an attempt before implementing "temporary" currency internationally? A test on the population? What are your thoughts on this?
That temporal limit is what worries me the most, governments giving ‘free’ money to their citizens once in a while is incredibly common so it should not be surprising at all.-------------------------------------------
Question : is this a planned experiment regarding money supply manipulation and full control over society? Is this an attempt before implementing "temporary" currency internationally? A test on the population? What are your thoughts on this?
However over the years there have been talks about governments around the world putting a time limit to the currency that you earn, and once that time passes then it can not be used any longer, and this is a huge threat as in essence governments will be making saving money an impossible activity, which will have huge implications about how the world economy has to be run.
November 15, 2023, 09:29:04 PM
If a country has financial problems and decides to obtain a loan in order to give the citizen a specific amount per month, then this country will not obtain more loans, as lenders do not like their money to be spent on services or individuals and will not return it in the future. these solutions are always for countries that have A budget surplus or additional funds to cover such spending.
Discussion in the local board will give you experiences from the reality in which people live.
Discussion in the local board will give you experiences from the reality in which people live.
November 15, 2023, 03:28:01 PM
Giving advice, for another country, is not good. But, uh. I would recommend not just to give money to the population, but to give limited funds, for example in the form of funds that can only be invested in shares, for example - public or private companies in Thailand. I.e. to give a guaranteed amount of money to each citizen of the country, so that he did not spend it on trinkets, but invested in the economy of the country - from production to tourism business. This will allow the country to provide real help to its economy, and each resident to provide passive income. Yes - and allow the sale of shares in companies in which the population will invest this money, for example, in 3-5 years. This will be a chance for those who really need "living money" to receive income, and for the rest to receive dividends for many years and use them to buy goods produced by local companies, which will again help the local economy.
PS I love Thailand. I used to vacation there often, it's a beautiful country !
PS I love Thailand. I used to vacation there often, it's a beautiful country !
November 15, 2023, 12:13:05 PM
If the people really get this real-fake money I wonder if the price of
rice and canned foods rise.
The problem isn't only that, but they will start to trust this real-fake money.rice and canned foods rise.
Then they will need policies to combat inflation.
Increase the interest rate, price control, adjust the tax rate etc that make people to give the money to banks/governments. It's a never ends problem, when the inflation rate drop, they will decrease the interest rate etc. They just switch a new policy and hold, then switch back to the old policy, repeat.we have our own FED that also punishes the citizen. increasing taxes is just like taking back what they gave while the government is not increasing the wages of workers.
people will still be grateful for the distributed money because of the currency economic situation actually.
all countries today are in big trouble due to inflation and the people will start relying on this money that they will send whatever the government asks, if the government asks to scan the iris of these people, they will happily do it for free money.
November 15, 2023, 09:41:15 AM
If the people really get this real-fake money I wonder if the price of
rice and canned foods rise.
The problem isn't only that, but they will start to trust this real-fake money.rice and canned foods rise.
Then they will need policies to combat inflation.
Increase the interest rate, price control, adjust the tax rate etc that make people to give the money to banks/governments. It's a never ends problem, when the inflation rate drop, they will decrease the interest rate etc. They just switch a new policy and hold, then switch back to the old policy, repeat. 
November 14, 2023, 04:41:57 PM
This is a crazy plan carried out by the Thai prime minister (PM). And while neighboring countries are busy thinking about ways to restore the country's economy, Thailand is planning crazy things to provide aid to most of its citizens in quite large amounts.
And here I quite understand, although the aim is good, namely to provide a stimulus so that people's purchasing power can increase so that the economy can return to stability. However, we need to remember that this is only temporary and when the money they get runs out, the Thai economy will stagnate again and people's purchasing power will decline again. And I am very worried that this plan will have a negative impact on the financial stability of the country of Thailand in the long term.
And here I quite understand, although the aim is good, namely to provide a stimulus so that people's purchasing power can increase so that the economy can return to stability. However, we need to remember that this is only temporary and when the money they get runs out, the Thai economy will stagnate again and people's purchasing power will decline again. And I am very worried that this plan will have a negative impact on the financial stability of the country of Thailand in the long term.
November 14, 2023, 04:13:31 PM
This is a bad thing that some people often do. Indeed, by giving them a certain amount of cash assistance, this can at least help them economically. However, we also need to remember that not everyone is able to manage and allocate cash assistance well. Because most of them (people) use this cash assistance just to meet their needs. So it cannot be utilized properly to further support their economy.
And like the proverb that says "Don't give fish, but give fishing rods" which means, if we give fish, the fish will run out instantly and in the end they will come back asking for the fish, because they don't know how to catch fish. Meanwhile, if we give them fishing rods, it is hoped that they will be able to find fish themselves.
In other words, as a government, don't let our society become the recipient of aid and become a society that can only beg. But give them a decent job or a micro business program, so that they try on their own to find out how they can earn money. And slowly this will have a positive impact, namely reducing their dependence on the assistance provided by the government.
And like the proverb that says "Don't give fish, but give fishing rods" which means, if we give fish, the fish will run out instantly and in the end they will come back asking for the fish, because they don't know how to catch fish. Meanwhile, if we give them fishing rods, it is hoped that they will be able to find fish themselves.
In other words, as a government, don't let our society become the recipient of aid and become a society that can only beg. But give them a decent job or a micro business program, so that they try on their own to find out how they can earn money. And slowly this will have a positive impact, namely reducing their dependence on the assistance provided by the government.
November 14, 2023, 03:31:54 PM
The policy of mass cash transfers was one of the campaign slogans of the centrist Pheu Thai Party (For Thais), which came to power in the Asian country in the summer. The aim is to stimulate the economy by giving the equivalent of over a thousand Dollars to 50 million people, encouraging them to spend more and thus helping local producers, shops, and small businesses. Under the influence of opposition criticism, Prime Minister Srettha slightly reduced the initially planned scale of the program, which was originally intended to cover 56 million people. Income limits and savings limits were introduced. Ultimately, anyone who is at least 16 years old, earns less than 70,000 baht per month, and has less than 500,000 baht in their bank account will be eligible for the transfer.
The money is intended to reach the broad masses of the population exclusively in electronic form, through an e-wallet available via the government application used by millions of Thai citizens. Citizens will not be able to convert the virtual wallet contents into cash, and the funds will need to be spent within six months of receiving them.
The authorities also want to control how the money is spent. Recipients of the government program will not be allowed to use the received funds for debt repayment, bill payment, tuition fees, gas and petrol purchases, gold or gemstones, internet products and services, alcohol, cigarettes, or marijuana.
-------------------------------------------
Question : is this a planned experiment regarding money supply manipulation and full control over society? Is this an attempt before implementing "temporary" currency internationally? A test on the population? What are your thoughts on this?
Quote
debt repayment, bill payment, tuition fees, gas and petrol purchases, gold or gemstones, internet products and services, alcohol, cigarettes, or marijuana.
So how it would really be used? For some test out then for sure there's really some intent behind those things. If citizens do really be able to get something from its government
but cant really be able to totally make use of it then its just pointless or useless. We dont know on whats behind those kind of decisions or situations happening
but pretty much sure that there's really some plan behind those actions. It did really just turning out that it is really just that they've been test subjects on this one.
If it turns out to be something beneficial then its good but for the sake of some kind of avoiding or trying out to make bad things look legal
then this is where things becomes shit.
November 14, 2023, 03:17:21 PM
Question : is this a planned experiment regarding money supply manipulation and full control over society? Is this an attempt before implementing "temporary" currency internationally? A test on the population? What are your thoughts on this?
yes. it's a controlled money so they can also dictate where the Thais can spend this money. this must be the implementation of the CBDC in their country. amazing though that they can afford to distribute such funds, and massive creation of digital cash but this is equivalent to printing.
i'm not an economist but this is the kind that will devalue their own currency. are they sure they will do this to the whole country or are they just doing this to a few cities? i'm sure there are remote areas in the country where people have no phones no internet connection.
November 14, 2023, 02:05:53 PM
With what they'll be doing here, they're putting their economy into a rather difficult situation since they'll be handing out free money to a lot of people. Where will the money come from? What plans do they have to offset that? If this is to stimulate their own economy then good luck with that. I'm pretty sure a lot of people will just hold the money and consider it as their savings rather than use it for actual expenses if need be. This should be thought thoroughly and, if it's really a test as they say, the funds that they'll pour on the citizens should be very minimal so as not to damage their economy.
If money is injected into the economy through distribution to citizens, then this injection will devalue existing deposits and increase inflation and loan rates. Production increases when demand increases, and when money runs out, real demand will fall again. Then they will need policies to combat inflation. November 14, 2023, 01:02:41 AM
I would much rather implement a "Coupon" system that can only be redeemed for "food" and basic necessities. I have seen people buying goods and selling it for "banned" substances, so no measures are free from exploitation. 
Let's not forget that the money that was used for this initiative are coming from the tax payers, so someone are paying for this. Yes, they are getting something back from their taxes, but they do not have the freedom to buy what they want from it.
Let's not forget that the money that was used for this initiative are coming from the tax payers, so someone are paying for this. Yes, they are getting something back from their taxes, but they do not have the freedom to buy what they want from it.
November 13, 2023, 07:45:28 PM
rice keeps longer than a year.
So buy bags of rice.
Thailand has canned foods that keep long than a year.
buy that.
with careful shopping you could buy a lot of food.
If the people really get this real-fake money I wonder if the price of
rice and canned foods rise.
So buy bags of rice.
Thailand has canned foods that keep long than a year.
buy that.
with careful shopping you could buy a lot of food.
If the people really get this real-fake money I wonder if the price of
rice and canned foods rise.
November 13, 2023, 06:58:17 PM
This is stimulus but for some conditions, it can't be spent for most of the basic needs of their citizens as you've mentioned mainly with the bills. Much better if this is like the subsidy that they does but if there are some conditions then for sure its people will think of what important thing they can use it for. Honestly, when a country does this, there's a possibility that it can be abused by the recipients although the control is there. The results will vary as well but with what I have seen for some countries that did this like for many times, they didn't able manage to comeback and overcome the inflation.
their government should permit its people to at least use it to pay for their bills. that's basic necessity also. so don't know how they are limiting the scope of their "stimulus" per se.
but for those who badly need this money, definitely they will be thankful for this government subsidy.
not many governments have such kind of initiatives so they better use the funds wisely. the possibility of abuse will always be there especially if there will be a lot of corrupt officials in their govt.
Well, for those who are eligible for this and will receive it. There is no reason for them to be ungrateful as they receive it for free so still, that's still a big help for them to at least get some help from anything that they are able to purchase with that subsidy. not many governments have such kind of initiatives so they better use the funds wisely. the possibility of abuse will always be there especially if there will be a lot of corrupt officials in their govt.
November 13, 2023, 06:04:29 PM
With what they'll be doing here, they're putting their economy into a rather difficult situation since they'll be handing out free money to a lot of people. Where will the money come from? What plans do they have to offset that? If this is to stimulate their own economy then good luck with that. I'm pretty sure a lot of people will just hold the money and consider it as their savings rather than use it for actual expenses if need be. This should be thought thoroughly and, if it's really a test as they say, the funds that they'll pour on the citizens should be very minimal so as not to damage their economy.
November 13, 2023, 05:47:06 PM
This looks like something between a voucher system and a "helicopter money" government program.
I wonder how this program will be funded. Does the government of Thailand have 50 billion dollars in the form of reserves, or the money will come from the foreign creditors.
Such "helicopter money" programs usually lead to two things-short term revival of the economy and long term inflation.
Perhaps the "expiry date" of these "electronic vouchers" are a measure against future inflation. This seems like an interesting idea in theory, but I don't know what will happen in reality. Perhaps the impact of this program will be short term, and the economy will return back to it's previous state(before the program launch) after this weird "e-cash" thing expires.
I wonder how this program will be funded. Does the government of Thailand have 50 billion dollars in the form of reserves, or the money will come from the foreign creditors.
Such "helicopter money" programs usually lead to two things-short term revival of the economy and long term inflation.
Perhaps the "expiry date" of these "electronic vouchers" are a measure against future inflation. This seems like an interesting idea in theory, but I don't know what will happen in reality. Perhaps the impact of this program will be short term, and the economy will return back to it's previous state(before the program launch) after this weird "e-cash" thing expires.
I hope for a reasonable attitude of the people of THAILAND, for such a decision. I'll give you an example - Switzerland. In 2014, the Swiss rejected an increase in the minimum wage ! I.e. the population of the country rejected the state's proposal to increase, in essence forced, the income of...POPULATION !
And the population understands perfectly well that the excessive burden on the economy and unnecessary money will not improve the situation.
"Swiss residents in a nationwide referendum rejected a proposal to introduce the world's highest minimum wage, preliminary data show.
The minimum wage per hour of work was proposed to be set at 22 Swiss francs (about $25).
The minimum monthly wage, thus, should be equal to 4 thousand francs (4.5 thousand dollars).
This is of course not exactly the same process as proposed in Thailand, but it is very similar. And the Swiss population realizes that such an injection of "extra money" will not lead to good things.
November 13, 2023, 04:16:42 PM
Well, what OP have said is not a totally new thing in the economics of the economy. Many countries have used such method to alleviate poverty and it worked for them while same method failed woefully for some other countries.
Another method which the government should have considered is subsidizing the products for her citizens. This will enable majority of the people with lower purchasing power to enjoy the economy, thereby doing the exact work that what is discussed in the Op would do.
I will strong say that the success of any of the above schemes depend so much on the corruption level of the country. I my country both schemes have been practiced and they failed. Recently, the new government removed subsidy because it was hijacked by a few elites. The government now introduced disbursement of funds to poor families, yet the top corruption politicians mered the vision. The best thing to do is to employ the citizens and pay accordingly (job creation).
Another method which the government should have considered is subsidizing the products for her citizens. This will enable majority of the people with lower purchasing power to enjoy the economy, thereby doing the exact work that what is discussed in the Op would do.
I will strong say that the success of any of the above schemes depend so much on the corruption level of the country. I my country both schemes have been practiced and they failed. Recently, the new government removed subsidy because it was hijacked by a few elites. The government now introduced disbursement of funds to poor families, yet the top corruption politicians mered the vision. The best thing to do is to employ the citizens and pay accordingly (job creation).
November 13, 2023, 03:27:51 PM
Usually these handouts only make things go up in price and increase inflation. Stupid move if you ask me.
I also don't understand the restrictions because people paying their debts should be beneficial to the government. A person in debt is more prone to erratic behavior, mental problems, but a person who pays debts shows responsibility and long-term thinking. Don't they really want to incentivize that? Don't they want healthy and responsible society?
I also don't understand the restrictions because people paying their debts should be beneficial to the government. A person in debt is more prone to erratic behavior, mental problems, but a person who pays debts shows responsibility and long-term thinking. Don't they really want to incentivize that? Don't they want healthy and responsible society?
November 13, 2023, 03:13:38 PM
The authorities also want to control how the money is spent. Recipients of the government program will not be allowed to use the received funds for debt repayment, bill payment, tuition fees, gas and petrol purchases, gold or gemstones, internet products and services, alcohol, cigarettes, or marijuana.
If they do not spend it on these needs and wants, what then will they spend it on? How will the moeny go round the economy? Maybe I am missing something because, I don't understand this at allQuote
Question : is this a planned experiment regarding money supply manipulation and full control over society? Is this an attempt before implementing "temporary" currency internationally? A test on the population? What are your thoughts on this?
They already have control over the society with the government issued fiat so, I do not see this as an experiment of any sort. If for example they allow bitcoin to be used along side their local fiat, and then try to control what they buy, not buy, do or not do with bitcoin, then I would agree that it is an experiment but this is no way any experiment, just a poor policy that doesn't help their economy. November 13, 2023, 03:07:29 PM
The authorities also want to control how the money is spent. Recipients of the government program will not be allowed to use the received funds for debt repayment, bill payment, tuition fees, gas and petrol purchases, gold or gemstones, internet products and services, alcohol, cigarettes, or marijuana.
So, what does that leave? Food and clothes?
What's the point if they cannot pay their bills. It's supposed to help these people, but not really.
The first thing that would come to my mind if I wanted to spend it would probably be tools. I used to work in construction and $1k in tools is like nothing, but can get you all the basics like levels, drills, work clothes... Same with other trades like it's a good set of tools if you're a mechanic. I have no idea why you can get tools, but not fuel. So if you're a professional mechanic, that's fine, but if you're a taxi driver, that's a no no. No help for you man. Buy yourself some clothes!
Jump to: