Pity the Russian Tourists

[Shilo]

Since the beginning of this year the Ruble has fallen nearly 20% against the Thai baht from 1.06 to .89, add to that an 8% drop in their stock market today alone and the interest rates jumping from 5.5% to 7% overnight...

 

Hard to say where this is headed but if the trend holds this could be a very very low season...

[Wanchai Pete]

Since the beginning of this year the Ruble has fallen nearly 20% against the Thai baht from 1.06 to .89, add to that an 8% drop in their stock market today alone and the interest rates jumping from 5.5% to 7% overnight...

 

Hard to say where this is headed but if the trend holds this could be a very very low season...

 

May the trend continue. Good news

[Fatboyfat]

'Tis the Ukraine factor at the moment, and it is not only the Russian stock market suffering ! Gold was a good buy 2 days ago, along with all the other "safe" options!

[Shilo]

Actually the problems in Russia started long before this Ukraine issue came up... Ukraine just made a bad situation worst for them:

 

The country is seeing its fourth straight month of contraction, with a reading of 48.5.

New orders and employment at Russian factories both declined, with new orders seeing their fastest contraction since 2009.

A hike in interest rates and a market crash is the last thing Russia needs.

Read more: http://www.businessinsider.com/russian-pmi-2014-3#ixzz2utukGbLq

This really wouldn't matter much to many of us here in Pattaya if it wasn't for the fact that Russians now seem to make up about 40% (or more) of the business around here. Again, it's still a little soon to say how this will play out but forgetting the monger scene for just a moment... we could be looking at the lowest of low season in years.

[wacmedia]

Hi,

 

Some of you delusional fools seem to think that US is doing any better. It's BUST !

[teelack]

I am sure that the only effect will be more people eating and drinking on the streets on the cheap.

[Shilo]

Like I said... the action today on the Russian stock market ain't pretty...

 

Edited March 3, 2014 by Shilo

[wacmedia]

Hi,

 

The bankers are behind the unrest in Ukraine. They know they are BUST and are trying to fight back. The bankers are on the back foot. The Russians are not pumping loads of money into the markets(QE) so the fiat markets are tanking. They will tank in US as well. That is what my thread BUST was all about. It's happening now.

[sabaidii2]

Hi,

 

The bankers are behind the unrest in Ukraine. They know they are BUST and are trying to fight back. The bankers are on the back foot. The Russians are not pumping loads of money into the markets(QE) so the fiat markets are tanking. They will tank in US as well. That is what my thread BUST was all about. It's happening now.

Please keep your political/economic diatribe confined to the BUST thread. That way, your endless rants won't intrude into areas where they are of no interest.

Edited March 3, 2014 by sabaidii2

[wacmedia]

Please keep your political/economic diatribe confined to the BUST thread. That way, your endless rants won't intrude into areas where they are of no interest.

 

Hi,

 

Who are you to tell anyone what is of interest ? How do you think the US fiat markets would be without QE ? Just look at the Russian markets to find the answer. Gold and gold mining shares are rising in London. That tells me all I need to know.

[brotherbuzz]

 

Hi,

 

Who are you to tell anyone what is of interest ?

The guy who understands that there is a place on the board for you to post your 'interests' rather than in any thread you deem appropriate.........

[wacmedia]

The guy who understands that there is a place on the board for you to post your 'interests' rather than in any thread you deem appropriate.........

Hi,

 

C'mon brother. Surely you realise that the topics are related. That notorious warmonger, McCain, is due in Ukraine tomorrow. He was in Syria as well, backing those lovely people who brought us 9/11.

[brotherbuzz]

Hi,

 

C'mon brother. Surely you realise that the topics are related.

You have a section to preach in wac, leave the rest of the board alone with it..................

[MM]

wac, back to your Looney thread. If you want to talk about Russia there, fine.

 

Bringing bankers and US economics into this thread is just distracting from the Op's topic.

[jacko]

You should also consider the Chinese Yuan too as it has also lost some value this year and they are also major Thai tourists.

Was 5.47 now about 5.3.

I selfishly hope that this prices both of them out of Thailand, well Pattaya really!

Edited March 4, 2014 by jacko

[BigDUSA]

You should also consider the Chinese Yuan too as it has also lost some value this year and they are also major Thai tourists.

Was 5.47 now about 5.3.

I selfishly hope that this prices both of them out of Thailand!

What effect do you think this would have on Pattaya business's?

[jacko]

What effect do you think this would have on Pattaya business's?

There will be fewer people in the hotels and restaurants,, and visitors to the themes.

There won't be as many condos being sold.

[wacmedia]

wac, back to your Looney thread. If you want to talk about Russia there, fine.

 

Bringing bankers and US economics into this thread is just distracting from the Op's topic.

 

Hi,

 

Fine. I insist that all these events are connected nevertheless.

[wacmedia]

You should also consider the Chinese Yuan too as it has also lost some value this year and they are also major Thai tourists.

Was 5.47 now about 5.3.

I selfishly hope that this prices both of them out of Thailand, well Pattaya really!

 

Hi,

 

Dont we all jacko.

[MM]

 

Hi,

 

Fine. I insist that all these events are connected nevertheless.

 

yes, of course you do. that's why there's ample fodder for your higher thinking in your own thread on the interwoven conspiracies of the Illuminati or whoever you think is really pulling ALL the strings.

[atlas2]

A lot of Russians use dollars anyway.

[Fireman Sam]

Since the beginning of this year the Ruble has fallen nearly 20% against the Thai baht from 1.06 to .89, add to that an 8% drop in their stock market today alone and the interest rates jumping from 5.5% to 7% overnight...

 

Hard to say where this is headed but if the trend holds this could be a very very low season...

 

I'm sure they didn't feel too much pity for us when the UK pound went from 75 to 43 in the space of a few years, likewise the US dollar. Also our saving rates return from 5 +% to .05%.

 

 

 

Regards

[oddball]

I find them rude and arrogant why would I feel pity on them. They are a bunch of peasants who think that because they have a bit of money and can afford a cheap package holiday they now have a social standing

[Patna]

I find them rude and arrogant why would I feel pity on them. They are a bunch of peasants who think that because they have a bit of money and can afford a cheap package holiday they now have a social standing

in a nutshell...

[spike]

A lot of Russians use dollars anyway.

how do they purchase their dollars?