OK Thailand is not in the same category as Greece and Portugal..but if the Red Shirts continue…then the recovery of Thailand will take a beating…
Feels good to say …’I said it here first’….as channels would have said..see my posting of 22nd April. The White Man had NOT PRICED in the default or even the downgrades of Greece and Portugal. Now the gap between the German Bonds and the Greece and Portugal will increase. This will put an increasing pressure on the borrowing OF ALL COUNTRIES. Yes in the short run the US $ will gain, gold will gain,…but the pulling of money from various markets will affect commodity prices, as well as emerging market debt.
Was this the trigger for the markets to be pulled down? Some shares in my portfolio like Themis Medicare, Cholamandalam…are still resilient…surprised, but it is a pleasant surprise, so not complaining 🙂
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