Transcript of the above video: 

As the title of this video suggests, we are discussing well - I have a “tip” for business in Thailand. What are we talking about here? I thought of making this video after reading a recent article from the Bangkok Post, bangkokpost.com, the article is titled: Government gets tips to run economy. First off, that is kind of the point of this video. The headline - Government Gets Tips to run Economy.

We don't have the Government run the economy here, we have a free fair market in Thailand. Now I do understand, Thailand has a history of public-private development, there's no doubt about that. That said, I hate it when it's conflated with this notion of "running the economy", these are two different things. Oftentimes the economy is vibrant in spite of the Government, not because of it. Now that's not always the case here in Thailand, I want to be clear. I do understand, Thailand is unique, it has its own way of doing things, so I don't completely want to just be running around out here like I'm Milton Friedman or something saying, "no you have to change everything you've ever done," no, no, no, no, not at all. There are certain aspects of the way Thailand has developed itself that are unique and are working and if it ain't broke don't fix it. That said, the notion that the Government needs to be around managing the economy all the time is kind of ridiculous.

That said, quoting directly: "The Government is mulling a White Paper containing proposals on ways to revitalize the flagging economy." Well first of all, how is the economy flagging? We're going from strength to strength here. The first quarter saw the biggest bump in consumer spending we've seen in years. We're on track for a very vibrant high season, and notwithstanding my reservations of how the DTV operates and how it will operate on the back end, at the end of the day, it has probably spiked up the amount of people coming in. I think I read a number the other day of 50,000 that are probably coming in on DTVs alone. I mean that's just one component, there are millions coming in. I don't see where you're really having an easy time selling this 'flagging economy' narrative. And we all know what it's being sold for. Let's not kid ourselves; we all know what it's being sold for because that was the narrative they tried to take us to Digital Money on. So don't kid us. It is not a flagging economy. Yes, certain people could use some help; there's always going to be people in the economy that are not operating optimally that could do better, but we've done a lot worse and that 'a lot worse' came from Government intervention, namely shutting down the economy for two and a half years on nothing, basically on the suggestion of Tedros.

Quoting further: "The Paper received by Deputy Prime Minister Anutin Charnvirakul on Sunday contains proposals made by participants at the 42nd National Seminar organized by the Thai Chamber of Commerce and Thailand's Board of Trade, held over the weekend in Chon Buri. Quote: "Once Thailand succeeds in restructuring its economy.." - whoever said we need to restructure our economy? - Quoting further: "..in particular through resolving the nation's household debt burden.." - well fair enough on that, yeah that could be a help. Although, a good way to do it is just a debt jubilee; you just forgive it all. Quoting further: "..and improving income distribution.." - income distribution? Is Lenin or Trotsky running this stuff? I mean what are we talking about, Income distribution? We don't need income distribution. We need opportunities for Thais to make their own money, to earn their own way. They don't need to be given anything. That's what I hated about the handout. Thais don't need to be given anything. Get out of the Thais' way; they will do it. Quoting further: "..we should be able to grow at a maximum rate of about 5%." I don't even take that. No, we can get going more than that if you just get out of the way. Quoting further: "..said Sanan Angubolkul, in his capacity as the Chairman of the Thai Chamber of Commerce and Board of Trade. The first concerns the need for the Government to raise confidence in its ability to manage the economy.." - I have no confidence in your ability to “manage the economy”. The last time I saw you “manage the economy”, you managed it into oblivion, literally. Everybody is forgetting two and a half years of these people that "know better than us" “managing” us. Quoting further: "..among consumers and investors, both domestically and internationally, through measures to bring down the cost of living and operating costs among businesses." 

Let me give you a tip. Thailand you want to be good at business, keep doing what you're doing and have always done. And you know what, if you folks from whatever these places are, that thinks you can manage anything, you want to have a photo op every once in a while, while the folks that are really getting things done here in Thailand, continue to get things done in Thailand, fine, great, go, have at it. But for now, let's leave the people be who want to just earn their living and live their lives.