Thursday, December 23, 2010

Thailand - GFC is for stupid Americans

I visited this nightclub in Bangkok with friends this week. Well it was more like a Bavarian beer hall meets Las Vegas stage show which served Dutch beer, a very "only in Thailand" experience.

The stage show had a rotation of bands, singers and styles, Thai pop, rap and country and a few western (actually Australian) pop songs which was ironic as my family and I were the only westerners amongst the several hundred people in the venue.

A survey of the car park with my son (to walk off the affects of the "Dutch" beer) confirmed my impression of the venue's clients. The closest several rows of the car park were reserved for the elite (wankers), in total over 50 late model Mercs and BMWs, many factor mod specials (AMG, Brabus, M3, M5,etc). It made think "haven't these people heard of the GFC, aren't they meant to be embracing austerity like the rest of us?"

When I went back inside I asked my friend (a successful Thai businessman) what happened to Thailand in the GFC? how come the car park outside has more and better Mercs than the Merc dealer in Mosman?

He replied "GFC is for stupid Americans and their thieving bankers. Thailand making things people need. The rice and sugar are getting high prices, factories are busy making things people need - cheap small cars, whitegoods, cement, building products. We not make paper banking shit and sell it to other stupid people"

An example of the shows at the Holland Brewery:


Marc Faber on Emerging Markets