News Forum - Thai government to control inflation prices for consumer products

[Thaiger]

As the Thai government attempts to control inflation, the PM Prayut Chan-o-cha says that there must be no shortages of consumer products or outages, and the prices must not be too expensive. The world wide inflation problems have been created by government’s artificially over-heating economies with quantitative easing rising energy and commodity prices and exacerbated by the ongoing Russia-Ukraine war. Prayut says he is directing ministers to keep inflation under control at the weekly cabinet meeting. Fresh meat, canned products, rice, milk, cooking oil, instant noodles, electricity, cement, and fertilisers are among the 18 items that must be kept under […]

The story Thai government to control inflation prices for consumer products as seen on Thaiger News.

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[Soidog]

Wow, this guy is good. Maybe all other national leaders could issue orders that prices must not increase and there must be no shortages. It’s so so easy to keep inflation under control. If all it takes is an order, then what are organisations like the Bank of England and the Federal Reserve playing at? Just get Johnston and Biden to order no increases in prices. Job done!

Whats that I hear you saying? There’s no substance to this. No plan or details as to how this will be achieved? No possibility of it happening?  Just words blowing from his mouth like the wind? Well, most of us will know that, but half of Thailand will believe it and the other half dare not complain about it. Laughable if it wasn’t so serious. 

[Rebel]

What about the 5% price increase last month? Will he order them to be paid back to the consumes too. Think his a bit delusional. The order giving will probably result in same price on chicken wings and cooking oil as it used to be

[Pinetree]

UK tried price and wage control 50 years ago; it never works because as soon as the controls come off, everything goes to rat xxxx.  You can't beat the market. 

[MrNovax]

The amount of economic ignorance is astounding.   When you "control" the prices then people will not voluntarily ration.  So prices held below market value will, in every case, end up being in short supply.  If you dont want shortages you need to let the prices rise, if you dont want prices to rise expect shortages.

These people create the problem (printing money) and then want to blame everyone but themselves for the problem.  If they wanted to fix inflation it would be extremely simple, STOP PRINTING MONEY!  Prices would fall but then they wouldnt be able to spend "free money" so it will never happen.  

[HolyCowCm]

This guy and his regime are a classic farce. Kill the economy, then keep the steel tip boot on its throat, with all the while prior to let energy prices and most all commodities rise so they keep their money and so able to splurge on the tax monies, and then turn around and say I/we will be your savior and will control those prices so you have life. Please when we walk, don't be shy to lay your rose pedals on the ground for our feet to walk upon as for you are requested to adorn us.

[ThaiEyes]

There’s a problem with putting your palm up and “willing” things to happen. It doesn’t work if you don’t have a clue/plan and people don’t respect you, especially when you’ve had years to deal with many problems and failed miserably at it. Thais at some point will have to stop their nonsensical “Mai bpen rai” attitudes, get off their kiesters and say something, do something about this dysfunctional government.

[Rookiescot]

1 hour ago, MrNovax said:

The amount of economic ignorance is astounding.   When you "control" the prices then people will not voluntarily ration.  So prices held below market value will, in every case, end up being in short supply.  If you dont want shortages you need to let the prices rise, if you dont want prices to rise expect shortages.

These people create the problem (printing money) and then want to blame everyone but themselves for the problem.  If they wanted to fix inflation it would be extremely simple, STOP PRINTING MONEY!  Prices would fall but then they wouldnt be able to spend "free money" so it will never happen.  

Who got the "free money"?

It certainly was not the poor.

Profits were private but loses are public.

[MrNovax]

15 minutes ago, Rookiescot said:

Who got the "free money"?

 

the government!

if your entire economy consisted of 10 widgets and there was 10 baht,  widgets would be exchanged for 1 baht per widget.  When the government prints another baht they can then go into the market at current rates (1 baht = 1 widget) and it takes the market a bit of time to adjust to the fact there is now 10% more money in the system which would ultimately raise the price per widget to 1.1 baht.  so the government got their widget at 1 baht but all the people now need to pay 10% more (1.1 baht).

this is why all governments love inflation (until people start noticing).  they get to buy things at yesterdays prices with money out of thin air and nobody notices until its too late.  

[Rookiescot]

5 minutes ago, MrNovax said:

the government!

if your entire economy consisted of 10 widgets and there was 10 baht,  widgets would be exchanged for 1 baht per widget.  When the government prints another baht they can then go into the market at current rates (1 baht = 1 widget) and it takes the market a bit of time to adjust to the fact there is now 10% more money in the system which would ultimately raise the price per widget to 1.1 baht.  so the government got their widget at 1 baht but all the people now need to pay 10% more (1.1 baht).

this is why all governments love inflation (until people start noticing).  they get to buy things at yesterdays prices with money out of thin air and nobody notices until its too late.  

So the rich got the "free money" yes?

[Dmitrii]

Soviet Union demonstrated how all this price control nonsense works in the real world: shortage of literally everything, huge lines of people at every store, illegal market and corruption that accompanies it - just exactly what would everybody want

By the way, there is a living example of this nonsense: Cuba. These poor people have rations for everything, even such basic things as rice, bananas, or soap are in shortage.

[WR2]

Price controls create shortages.  Econ 101.

[MrNovax]

4 hours ago, Rookiescot said:

So the rich got the "free money" yes?

correct

[HiuMak]

16 hours ago, Thaiger said:

As the Thai government attempts to control inflation, the PM Prayut Chan-o-cha says that there must be no shortages of consumer products or outages, and the prices must not be too expensive. The world wide inflation problems have been created by government’s artificially over-heating economies with quantitative easing rising energy and commodity prices and exacerbated by the ongoing Russia-Ukraine war. Prayut says he is directing ministers to keep inflation under control at the weekly cabinet meeting. Fresh meat, canned products, rice, milk, cooking oil, instant noodles, electricity, cement, and fertilisers are among the 18 items that must be kept under […]

The story Thai government to control inflation prices for consumer products as seen on Thaiger News.

Read the full story

He is above the economic rule of demand and supply. Bravo

[Dialemco]

Controlling price will create two tier economy items payable in Thai Baht and items only available in foreign currency which will mean indefinite extension of state of emergency.

[drkenchao]

energy/electricity consumption can be cut if condos turned off about 50% lights in condo corridors? which.is now switched on full light intensity 24 hours every day

[Politenessman]

On 4/13/2022 at 5:27 PM, Thaiger said:

As the Thai government attempts to control inflation, the PM Prayut Chan-o-cha says that there must be no shortages of consumer products or outages, and the prices must not be too expensive.

Yeah. fortunately Govt intervening in market forces always ends well.

Strap yourself in Thailand, you could be in for a rough landing.

[Zorba_the_Geek]

Yeah right. If the number one LEAST corrupt country in the world -which also happens to grow and breed everything humans can eat, can't control food prices, you envelope hugging imbeciles may as well not even bother pretending. Just fire your media goons and let the people eat roadkill and grass. 

[Zorba_the_Geek]

On 4/13/2022 at 8:19 PM, Soidog said:

Wow, this guy is good. Maybe all other national leaders could issue orders that prices must not increase and there must be no shortages. It’s so so easy to keep inflation under control. If all it takes is an order, then what are organisations like the Bank of England and the Federal Reserve playing at? Just get Johnston and Biden to order no increases in prices. Job done!

Whats that I hear you saying? There’s no substance to this. No plan or details as to how this will be achieved? No possibility of it happening?  Just words blowing from his mouth like the wind? Well, most of us will know that, but half of Thailand will believe it and the other half dare not complain about it. Laughable if it wasn’t so serious. 

Don't worry, he's working on a big Musical to finally bring crappines to the people, as it was meant to be!

Unfortunately, the best title idea was already taken by Yul Brynner and Deborah Kerr, but 

How does "Les Miserables" sound?