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Reactive blogger (~and more~)

Political f*ckwitage

Hi. Just back from helping Thais in tourism industry, as promoted by the government to keep the business alive. When you think about our farang tourism dependency, you start to doubt our concept of self-reliance. Was it real or just applicable to some sector. Anyway, I help spending a lot of money while in a couple of bar in the afternoon watching cricket (sorry for the Sri Lankan team for the incident in Pakistan.)

It is oh so quiet.

Back to Bangkok after an on-again-off-again weird news and intermittence internet connection and try to unload overloaded information of drainage system, chicken tractors, the evil of world trade and just find this stimulus package a bit disheartening. I talked about foriegn loans once, here it is again.

Govt to seek more loans
By: BangkokPost.com
Published: 4/03/2009 at 05:22 PM
The Council of Economic Ministers on Wednesday gave a green light for the government to borrow US$2 billion (about 70 billion baht) from the World Bank, the Asian Development Bank (ADB) and the Japan International Cooperation Agency (Jica) for use in reviving the economy, deputy government spokesman Puttipong Punnakan said.

The Ministry of Finance would start negotiations with the three foreign financial institutions in April or May, he said.

The ministry would propose the details of the negotiations to the cabinet and listen to public opinions and suggestions before asking the House of Representatives for approval in late May. The government should be able to borrow the money in July, he said.

About half the funding would be sought from the World Bank. The government will seek US$500 million loans from both the ADB and Jica, Mr Puttipong added.

However, the Council of Economic Ministers turned down the proposal to cut excise taxes on cars to boost auto sales, Prime Minister Abhisit Vejjajiva said.

He said the short-term measures, including offering tax breaks and covering car insurance down payment, may not be the right way to boost auto sales.

The Bank of Thailand (BoT) and the Ministry of Finance will examine the loan requirements and find more appropriate solutions because they may affect other business sectors, the prime minister said.

He insisted the government will take serious steps to address intellectual property issues, especially the compulsory licensing (CL) policy on inexpensive drugs. More pressure will be on Thailand, if the United States does not accept the country’s CL policy, he admitted.

Referring to the academics’ suggestion to revise the lese majeste law, Mr Abhisit said the cabinet will look into it next week.

Recession is and will be common and you cannot just recession proof yourself by borrowing more and more and said you are committed to ”revive” the country.

While practicing self-reliance, we must also accept that we still want to be lucrative enough to sell natural resources and culture as capital. The country is now connected and hesitates to pull the plug out of the matrix. We want to believe in our uniqueness of being Thais that will prevent against recession. Some want to maintain that the government is really committed to have long lasting support to the people (now known as mega-populism) and that we would be doing fine. We will, despite the ups and downs of this political relationship, will hold on to love.

Well, maybe. Rallies and political concerts boost some spending. But borrowing foreign loans again and again, will not do. Unless you want to further the political fuckwitage relationship that will end up with credit card debts after a fuckwit leaves. It is difficult to get up, wake up and get real. We do need to question the effectiveness of the recession package that we have to pay interests.

Needless to say that this will be the hot topic in the red shirt rally and they could continue their marketing campaign of Thaksin as ‘income generator’ and a much needed foreign debt sweeper. (umm probably he’d sweep them under some carpet, too.)

Another political fuckwitage, too.

Sweet.

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Filed under: Political Sciences,

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