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From CNBC After an extremely strong 2024 for the U.S. stock market, investors are getting better returns, at least for the moment, from equities located beyond the red, white and blue borders. Since the inauguration of President Donald Trump, stocks in Europe and China are vastly outperforming the U.S. equity market. The S&P 500 is up a little over 1% since Jan. 20, as of the close on Thursday after the latest sell-off, while the broad-based MSCI China ETF has risen roughly 17%. The iShares Eurozone ETF is up roughly 6% in that same time span. The iShares China Large Cap ETF, meanwhile, is up about 16%. The Dow Jones Industrial Average is barely hanging onto a positive return over the past month. The leaders of U.S. tech are not faring better against Chinese rivals in the markets. The Invesco QQQ ETF is up about 2.5%, while the KraneShares CSI China Internet ETF has risen roughly 20%.

NOTE — could this affect plan to inaugurate prior arrival notice for foreigners scheduled for May 1, 2025? From Bangkok Post The Immigration Bureau failed to collect the biometric data of about 17 million travellers who entered and exited Thailand last year after the system reached its maximum capacity, according to People’s Party deputy leader Rangsiman Rome. “Thailand currently does not utilise the biometric system for border control security. This lack of data collection poses a significant risk of criminals re-entering the country,” the opposition politician said in a post on his Facebook account on Friday. “Throughout the entire year of 2024 and up to today, there has been no actual collection of biometric data. What is being collected are merely photographs of facial images and fingerprint photos, not true biometrics,” added Mr Rangsiman, who chairs the House Committee on National Security, Border Affairs, National Strategy and Reform. Since the previous licence for the system expired, about 17 million people have arrived in and departed Thailand without their biometric details being recorded. It could take up to 29 months for the Immigration Bureau to get a new system up and running as the procurement process has not even begun, he said. Mr Rangsiman stressed that many people, including immigration officers, are unaware of the issue. He also revealed that the bureau had discussed the issue on seven occasions with the National Security Committee. However, higher authorities have not taken action, he noted. “This is a complete failure of police organisation,” Mr Rangsiman said. “This loophole likely explains why so many transnational criminal groups continue to operate freely in Thailand. It is also difficult to remove them due to the inefficiency of state agencies.” Pol Col Neti Khanboon, head of the database division at the bureau’s IT centre, admitted the system had reached full capacity while testifying before Mr Rangsiman’s committee on Thursday. He said the current biometric system can store personal identity data for 50 million people. Purchasing an unlimited licence would require a budget of 500 million baht, he said, adding that a new personal identity collection system was being developed with a budget of 3 billion baht. Personal identity data collection relies on facial photographs, fingerprint images and written records. In 2024, 17 million people entered and left the country without biometric records, he confirmed. “The limited capacity of the biometric system is a weakness,” he conceded. The biometric system used by the bureau was procured in 2019 at a cost of 2.1 billion baht. Among those who spoke out against it publicly was Pol Gen Surachate Hakparn, the high-profile officer who has feuded with many senior figures and was dismissed from the force last year. Continues at https://www.bangkokpost.com/thailand/general/2965620/thai-immigration-biometric-system-no-longer-functioning

Agree that in some cases the best exit is a civil “no thank you.”

Good luck! In the end, you invariably find that you get what you pay for.

You can find scores of members who look back with fondness on the old days in Bangkok, Phuket, Chiang Mai and Pattaya. That does not constitute an endorsement of illicit or illegal activities. We should exercise great caution before we assassinate another member’s character based on alleged innuendo.

Didn’t ask. Too engaged just being grateful for current opportunities.

From International Monetary Fund Rising Rates May Trigger Financial Instability Before the pandemic, investors worried about how persistently low inflation and interest rates would crimp bank profits. Paradoxically, they also worried about bank profitability when post-COVID reopening sent inflation and central bank interest rates soaring. The failure of Silicon Valley Bank and other US lenders in early 2023 appeared to validate these fears. Our new research on the relationship between inflation and bank profitability helps us make sense of these concerns. Most banks are largely insulated from shifts in inflation—the exposure of income and expenses tend to offset each other. Yet some have significant inflation exposures, which may lead to financial instability if concentrated losses lead to wider panics in the banking sector. As several major central banks are reassessing their monetary policy frameworks in the aftermath of the post-pandemic inflation surge, a deeper understanding of the links between inflation and bank profitability can help design better monetary policy frameworks. Our findings imply that central banks may need to consider financial stability when setting their policy stance to combat inflation. Does inflation matter for bank profitability? This question has received surprisingly little attention. We answer it by combining balance sheet and income data for more than 6,600 banks in advanced and emerging economies with nearly three decades of IMF economic data. Continues at https://www.imf.org/en/Blogs/Articles/2025/02/13/rising-rates-may-trigger-financial-instability-complicating-fight-against-inflation

Is there something environmental that renders otherwise sane men stupid when the enter Pattaya. From Pattaya News Pattaya, Thailand – February 20th, 2025 Pattaya City Police arrested a 54-year-old woman, identified as Ms. Kam, on Thursday afternoon for stealing an ATM card from a British man and withdrawing 40,000 baht. The arrest, carried out by officers from Task Force 2 and the Pattaya City Police Operations Center, took place at approximately 3:00 p.m. at a restaurant near the entrance of Soi Jomtien 4. The operation followed the issuance of an arrest warrant by the Pattaya Provincial Court (No. 85/2568) on February 19th, 2025, charging Ms. Kam with “theft and improper use of another person’s electronic card.” The incident dates back to February 2nd, 2025, when the victim, Mr. A, a British man who lives near Bangkok, brought Ms. Kam to stay with him at a hotel on Soi Six off of Second Road in Pattaya. According to reports, after Ms. Kam left the room around noon, Mr. Marshall woke up and discovered that his Kasikorn Bank ATM card was missing. Subsequent checks revealed that four unauthorized withdrawals, totaling 40,000 baht, had been made from his account. It’s not clear how she obtained his pin number although the police suggested she might have seen him use his pin to pay for a purchase earlier. Following the victim’s report who contacted multiple local media sources to assist as he had limited mobility due to a foot infection, Pattaya police launched an investigation, reviewing CCTV footage and gathering evidence that led to the identification of Ms. Kam as the suspect. An arrest warrant was issued, resulting in her capture on February 20th. During interrogation, Ms. Kam confessed to the crime, admitting that she stole the ATM card and withdrew the 40,000 baht, which she claimed to have spent on personal expenses. A background check revealed that this was not her first offense. Ms. Kam has a documented criminal history, including three prior convictions for theft and a violation of the Gambling Act. Despite serving prison time for previous offenses, she has continued to re-offend after each release. Police have handed Ms. Kam over to investigation officers for further legal proceedings. Authorities emphasized their commitment to cracking down on repeat offenders targeting tourists in Pattaya. https://thepattayanews.com/2025/02/21/pattaya-police-arrest-54-year-old-woman-for-stealing-british-mans-atm-card-and-withdrawing-40000-baht/

From Pattaya Mail By Barry Kenyon There is currently no official ban on Thai banks opening accounts for foreign tourists. But it’s clear that the government’s latest attempts to reduce call center scamming and flight-prone cryptocurrency deals are having a very marked effect. In a separate announcement, the beginning of April 2025 will see new accounts subject to further bureaucracy such as biometric authentication via facial recognition and the restriction for each account to be linked to a single registered device. It’s certainly possible that accounts may then become easier for short term tourists to open provided they have sound reasons, for example purchasing a condominium unit or applying for a long stay visa or financing a dowry. Whatever. In the meantime, some thwarted tourists may have alternatives. Some embassies are still willing to confirm regular income (even if not transmitted to Thailand) and may have authority to issue letters of guarantee to more than one nationality. Richer wannabe expats may reexamine alternative visas such as Elite or Long Term Residence, neither of which demands a Thai bank account at application. Not to mention the Destination Thailand Visa which, in some Thai embassies, has multiple options for proving the 500,000 baht (US$19,000) baseline requirement. Of course, each of these visa choices has its pluses and minuses, so individual research is crucial. Another option is to forget about permits for now and opt for a border run giving 60 days visa exempt on entry with an automatic extension at local immigration for a further month. The extension fee is a standard 1,900 baht (US$54) provided the paperwork is in order. But fines may apply if address verification (TM30) or the 90 days address notification (TM47) has been overlooked. Although it is true that foreigners cannot reside in Thailand forever on visa exempt entries, the route may provide a temporary reprieve whilst opening bank accounts remains uncertain. For the future, it is possible that other government agencies may be able to confirm the income of expat individuals: for example, foreigners registering with the Thai Revenue Department (TRD) and submitting a tax return on overseas transfers. These individuals will have a receipt showing the amount they transferred in the previous calendar year and the tax paid. When submitting a tax return, expats do not provide any income documentation or personal wealth information: they simply write the appropriate amount on the form. The point here is that the receipt will have the government logo at the heading. There is no suggestion here that it is, or should be, compulsory for all expats to report to the TRD. Many live on historic savings and others may have exemption because of specific detail in double taxation treaties and a host of other factors too complex to discuss here. However, for those who do feel it necessary to obtain a tax identification number based on overseas transfers, this route could conceivably provide the necessary authority to open a Thai bank account. The current system of retiree permits, especially the “O” non-immigrant visa with annual extensions, has been basically the same for 30 years apart from larger cash requirements. The assumption that nothing much will change in the next 30 is unduly optimistic. https://www.pattayamail.com/latestnews/news/the-future-of-retiree-bank-accounts-in-thailand-491241

A member with much experience in patronizing massage shops outside Silom and Sukhumvit reports that Phetboy’s “Diamond Boy Spa” in Ramkhamhaeng has yet to actually open its doors.

If you’re looking for some fine specimens from Chiang Mai today, you might want to check out 15M and 27M massage shops in Saphan Kwai. https://www.mmassagebkk.com/ line @306SSLQB

Film crew reincarnated The Black Pagoda tonight

Those are days that were well before I first came to Bangkok. I don’t doubt that Thais were in the majority but that’s to be expected because Bangkok was not the major international tourist hub it is today. As for comment above citing “ridiculous” prices as a factors for keeping Thais away, two points come to mind. First, many Thais are wealthier than we tend to think. This isn’t the Thailand of two or three decades ago. Second, the tip for an off varies but in most bars it’s 2500. That’s roughly $75. If punters think that’s unreasonable, ask how much we’d charge to have sex with a clone of ourselves. 🙂

Not delicate question and no need to apologize. Works on stage in a bar and he and others get offed by guys from around world, including local Thais. It’s incorrect to believe that Thais are no longer in the mix. I’ve seen three shows so far this trip and shows played to full house on two occasions and nearly full on another. It’s my observation that for westerners it’s the boys who are the drawing card and the shows are secondary reason for attending. With Asians, it’s the show that draws them in and it’s the boys who take over from there. The more successful bars at the moment are those that create a balanced presentation of erotica, song and dance and lots of talent regularly appearing on stage.

Can assure you that Thai customers are still offing guys from bars in Bangkok because my guy is one of them.

I very much doubt it. It appears to be operating quite successfully as a standard hotel. When I first visited there to do the OP, it was clear that it was run by a young family.

From The Nation Over 1,000 arrested in Border Guard Force crackdown More than 1,000 individuals suspected of human trafficking and online scamming were arrested on Tuesday during a crackdown by Karen state’s Border Guard Force (BGF) in Shwe Kokko city on the Thailand-Myanmar border. The city in Myawaddy township has become a notorious hub of illegal gambling, human trafficking, extortion and cyber scam operations. Under the direct order of BGF secretary-general Maj General Saw Chit Thu, BGF soldiers raided several high-rise buildings in Shwe Kokko, seizing computers and equipment allegedly used for illegal businesses, and arresting over 1,000 suspects. https://www.nationthailand.com/news/asean/40046458

From Bangkok Post City Hall has told 529 stallholders near the clock tower at Chatuchak weekend market they must move out by April 30 to make way for planned redevelopment. The instruction was issued by the Bangkok Metropolitan Administration's market office. Market office chairman Suksan Kittisupakorn, accompanied by other senior officials, explained the move during a media briefing at the BMA head office on Wednesday. It covered issues of transparency over the management of the weekend market, the refusal to renew the contracts of vendors using the 529 stalls, and guidelines for the further development of the market Vendors at Chatuchak weekend market earlier petitioned Prime Minister Paetongtarn Shinawatra and Bangkok Governor Chadchart Sittipunt to investigate the management of the market office over its refusal to renew the contracts of 529 stallholders. Mr Suksan said the vending areas in these zones were not pretty and the pathway area had been reduced to only 9 metres, from the original 19 metres. There had been complaints from shops in the area that their frontages were now obscured behind stalls. There was also poor air circulation, he said. As the contracts for the 529 stallholders expired on Oct 31 last year, the BMA had planned to develop the clock tower area as a new landmark, to draw tourists to the weekend market, he said. https://www.bangkokpost.com/thailand/general/2964115/hundreds-of-vendors-at-chatuchak-market-given-deadline-to-move

From The Thaiger The Transport Ministry is considering relocating Bangkok’s inter-provincial bus terminals to the Krungthep Aphiwat Central Terminal to enhance connectivity with the city’s mass transit system. Transport Minister Suriya Jungrungreangkit discussed this proposal with the Policy Monitoring Committee, instructing the Office of Transport and Traffic Policy Planning (OTP) to explore the feasibility of consolidating all state-operated bus terminals within this new central terminal. The proposed move would affect three main terminals: the Bangkok Bus Terminal (Mo Chit 2) in Chatuchak district, serving the north and northeast, the Ekkamai Bus Terminal in Khlong Toey district for the eastern provinces, and the New Southern Bus Terminal in Taling Chan district. The OTP is tasked with assessing how this change would impact travellers and traffic management around the Krungthep Aphiwat Central Terminal. https://thethaiger.com/news/bangkok/bangkok-plans-new-central-bus-terminal-for-better-city-connectivity

From Pattaya News Pattaya City officials have deployed five trucks to collect seaweed that has washed ashore at Krating Rai Beach. The large amounts of seaweed, causing rot and odor, have distressed local residents.

Agree that Freshboy has best show and often 40 guys in the rotation. And there’s no smoking policy.

From Khaosod English BANGKOK — Police have arrested an 18-year-old modeling agent in connection with the death of Airada Potaram, 22, who died while providing escort services to a Chinese client named Wu Douying. Before her death, Airada had sent messages to her modeling agent asking if she could decline using drugs, but was told she should take “a little” as the client requested. On February 17, authorities arrested and questioned the modeling agent who communicated with Airada before her death. The suspect, identified as Panita “Alin,” allegedly acted as an intermediary arranging services between Chinese clients and escorts. She has been charged with facilitating prostitution, with potential additional human trafficking charges pending investigation. Dr. Weerasak Charasicharoen, a forensic medicine expert at Srinakharinwirot University, noted that “happy water” and ketamine found at the scene are extremely dangerous substances. He explained that “happy water,” popular among Chinese drug users, contains eight different substances including four depressants and four stimulants, with date rape drugs among them. The combination with alcohol can be particularly lethal, potentially leading to circulatory failure as indicated in preliminary autopsy findings. https://www.khaosodenglish.com/news/2025/02/18/thai-teen-agent-for-chinese-faces-charges-in-fatal-escort-case/

From Pattaya News At least 40 people have been injured after a passenger bus overturned in the Pattaya area on Tuesday (February 18th) afternoon. Emergency responders were notified of the accident at 2:06 P.M. on the No. 36 Road (Pattaya-Rayong Bypass Road). They and the Pattaya News team arrived at the scene to find the overturned passenger bus going from Bangkok to Pattaya lying sideways on the road. The unidentified bus driver told the Pattaya News that they were heading to the Pattaya Bus Terminal from Bangkok. There was heavy rain when a sedan driver allegedly immediately crossed in front of the bus near a U-turn. The bus driver tried to avoid the collision with the sedan but claimed the road was slippery due to rains. He was unable to control the bus before the bus overturned. Traffic tailed back for three kilometers while the bus was removed from the scene. https://thepattayanews.com/2025/02/18/at-least-40-people-injured-after-bus-coming-from-bangkok-overturns-in-pattaya-area-during-afternoon-storms/

From The Nation / Reuters Vietnam's National Assembly on Tuesday approved a bold bureaucratic reform plan that will slash up to a fifth of government bodies, as the country tries to cut costs and improve administrative efficiency. The number of government ministries will be reduced to 14 from the current 18, to be up and running from March 1, the assembly said in a statement. More than 97% of the lawmakers present approved the plan. The assembly earlier on Tuesday passed an amendment to a law on organising government, paving the way for approval of the planned cull of 15% to 20% of the state apparatus, which will also include four agencies and five state television channels, among other cuts. The plan coincides with similar post-pandemic government cost-cutting measures being implemented or pledged across the world, including by Argentina's libertarian President Javier Milei and US President Donald Trump. Vietnam's state media reported last month that the restructuring would affect 100,000 state officials. It did not elaborate. "Poor-performing employees must be removed from the system," it quoted Deputy Prime Minister Nguyen Hoa Binh, as saying. "State agencies must not be safe shelters for incompetent officials." https://www.nationthailand.com/news/asean/40046451

The cat serves as Guido’s ambassador without portfolio, visiting four tables while I was on the terrace last night. If it’s any comfort, it also spit up a hairball that was unceremoniously removed by alert waiter.