Wednesday, January 17, 2007

Self Sufficiency Lies

The Nation January 17

Misunderstanding continues unabated

The Nation has always been a nationalist rag. And it proves it once it again with its advocacy and/or defense of the so-called self-sufficiency theory.

An article in yesterday's edition of The Asian Wall Street Journal on the sufficiency economy raises the question of whether the Surayud government has done enough to explain the basics of the philosophy or if foreigners are simply turning a blind eye to the philosophy's fundamentals, writes the Business Desk.

In the middle of the article, the newspaper attributed Thailand's stock-market plunge to the draconian capital controls that, it said, had infuriated the middle-class. "Some see the new government's enthusiastic embrace of King Bhumibol's repeated suggestions that Thailand pursue economic self-sufficiency as part of the problem," it said.

The paragraph shows how little understanding The Asian Wall Street Journal has of His Majesty the King's economic philosophy, introduced some 30 years ago mainly to help poor farmers cope with financial problems and maintain their mental health

Here is the truth about self-sufficiency:

When it comes to protecting certain economic interests, the Thais have the mentality that they would rather be a slave to a fellow Thai rather than work for a farang, and that is why they keep farang/foreigners out of the economy. And, yes, except for huge mulitnationals like Toyota or GE, farang are kept out of the Thai economy. The Thai economy is in the hands of few incredibly wealthy Chinese families with the noble familes as minor shareholders, who now want to become the major shareholders. Self-sufficiency means keeping all the wealth in the hands of the elite while the masses live at a subsistence level.

Therefore, self-sufficiency means the Thai economy is for Thais and foreigners can go screw themselves, and every policy reflects this mentality. The recent moves by the Thai government proves my point. They purposely used those capital control mechanisms to screw foreigners out of their money when the bottom fell out of the Thai stock market. They are purposely using the new ownership rules to screw foreigners out of their assets.

Thais are racist and they will cheat foreigners anyway they can. They have been doing it for centuries. The recent moves to force foreigners to sell their shares in their companies in which they put up all the capital to less than 50% would have made Adolph Hitler feel proud, because that is exactly what he did to the Jews when the Nazis first came to power. He made it unbearable for the Jews to own property or businesses and they were forced to sell to the Nazis cheaply. The Thais are doing the same thing to foreigners (namely farang), but because they are "Asian" and a "poor" country they can get away with their racism.

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