Thailand’s government has pronounced that the country’;s financial institutions are quite capable of handling the present economic chaos, although their confidence sounds eerily like GW Bush’s declaring, “The US economy is fundamentally sound.”
The SET has fallen 30% in 2008 as foreign investors cash in their portfolios to shore up their homeland investment.
That money has gone poof in the last few months like water on a frying pan.
Beware of sound economies.
Even the bar girls are hurting.