New Immigration Requirement

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Dodger
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Re: New Immigration Requirement

Post by Dodger » Wed Feb 06, 2019 7:37 pm

There are a lot of guys who had more than enough money to meet the requirements when they first arrived in Thailand who went on to get tangled up with a Thai girl (or boy) and the money just seemed to vanish. The result is they can no longer meet the minimum income requirements and either have to hit the road or work under the table with one of the swines over here to get their visa renewed.

The bad news for the "good guys" is that it is so corrupt over here. The good news for the "bad guys" is that it is so corrupt over here. Either way you flip the penny nothing will actually change. It's all about perception.

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Gaybutton
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Re: New Immigration Requirement

Post by Gaybutton » Wed Feb 06, 2019 8:18 pm

windwalker wrote:For those who want to see all those financially struggling kicked out of Thailand . . .
You managed to find 1 story about the plight of 1 individual. He gambled on the stock market and lost. I suppose he did not take into consideration the idea that you should never gamble more than you can afford to lose. That's what he did and that part is his own fault.

It does not change my opinion one little bit. This man was trying to be honest all along. I have no quarrel with people who have been trying to be honest. I wouldn't want to see him or people like him be forced to leave Thailand.

However, it is not people like him who I have a problem with. My problem is with people who intentionally lie and cheat their way into a visa. They're the ones who caused the problems for everybody else and I, for one, will shed no tears if it is those people who are forced to leave Thailand.

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Re: New Immigration Requirement

Post by Dodger » Thu Feb 07, 2019 12:55 pm

I find it difficult to feel sorry for the the guy (Adam) in the story for the mere fact that he knew what the financial requirements were for residing in Thailand and decided to gamble with his money anyway versus keeping it in the bank to cover his ass. His choice - his consequence.

The fact that he is raising two children is even more reason why his decisions regarding his financial affairs should have been handled in a more responsible manner.

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windwalker
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Re: New Immigration Requirement

Post by windwalker » Thu Feb 07, 2019 3:13 pm

Dodger wrote:I find it difficult to feel sorry for the the guy (Adam) in the story for the mere fact that he knew what the financial requirements were for residing in Thailand and decided to gamble with his money anyway versus keeping it in the bank to cover his ass.
He did not gamble with his money; he invested it in the stock market. Some investments are wise and some are not. And there are always winners and alway losers.

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Gaybutton
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Re: New Immigration Requirement

Post by Gaybutton » Thu Feb 07, 2019 5:04 pm

windwalker wrote: He did not gamble with his money; he invested it in the stock market.
I fail to see the significant difference.

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Re: New Immigration Requirement

Post by fountainhall » Thu Feb 07, 2019 5:08 pm

In the tale, he tells of getting married in 2007 and thereafter investing in the stock market. That probably means he got caught up in the 2008 market crash. Yes, he was stupid to invest more than perhaps he should. But even realising it was going to be a wild ride, I invested a smallish amount in one bank stock that had lost 30% of its value. It started to go up again, so i sold and took the profit. After a further fall, I bought again but the price continued to go lower. I was going to cut my losses but then read and saw widely reported on TV that two sovereign wealth funds were putting hundreds of millions into that particular company's stock. If a stock is good enough for Singapore's Temasek Holdings and one from one of the Gulf States, it has to be fairly stable. At least that was my thinking.

Of course, the big players have their investments covered by all sorts of out clauses. It's the little guys who get hurt. That stock just went down and down and down. Yes, again I know I should have had a 'bottom' price and made sure I sold at that price. But the realisation that I would lose much of my investment made me hesitate. I didn't sell until a few years later. By then its price was about the same as the price I paid. In the meantime, though, it had split the stock 10 new for 1 old. So I lost 90%.

I broke my own rules! I suffered. This guy suffered. We both made mistakes. Fortunately I was still working and had income coming in. He hadn't. I don't think anyone caught up in the 2008 disaster can have any idea how much many hundreds of millions of people around the world lost - many through little fault of their own. In the UK it was Margret Thatcher who persuaded millions that they should become investors. I'll bet a lot of them also got badly burned in 2008.

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Re: New Immigration Requirement

Post by Dodger » Thu Feb 07, 2019 5:44 pm

My older brother gave me some solid advice the day before my very first trip to Las Vegas which I've never forgotten.

He told me to take enough money to have a good time...plan to lose it..but don't lose more than you can afford.

Playing the stock market and gambling at a Vegas casino have a lot in common. Some win...some lose...some lose more than they could afford...and some don't. I'm not faulting the guy (Alex) one bit for playing the stock market but he obviously had no plan to mitigate the risk in the event that he lost. If that weren't the case he wouldn't be minus the cash he needs now to maintain his visa and continue caring for his family.

All said, I hope things work out for him and sure glad it's not me.

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Re: New Immigration Requirement

Post by windwalker » Thu Feb 07, 2019 6:32 pm

Gaybutton wrote:
windwalker wrote: He did not gamble with his money; he invested it in the stock market.
I fail to see the significant difference.
I see it quite differently. Other than buying two lottery tickets in my life, I never gambled a penny. But I did invest my money. While working I invested money in growth stocks but when I retired I switched to a stable stock portfolio. And I did very well. Also I invested in gold and also did well.

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Gaybutton
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Re: New Immigration Requirement

Post by Gaybutton » Thu Feb 07, 2019 9:04 pm

windwalker wrote:And I did very well. Also I invested in gold and also did well.
I think you know as well as I do that it doesn't always work out that way. Think about 1929. There is no guarantee in the stock market.

In any case, whether you want to call it an investment or a gamble, this man took the risk and lost. I'm sorry he lost and I'm sorry if he really does end up being forced to leave Thailand, but the fact remains that obviously he "invested" much more than he could afford to lose. To my mind, that doesn't make him the brightest bulb in the chandelier.

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Re: New Immigration Requirement

Post by gera » Thu Feb 07, 2019 10:14 pm

windwalker wrote:
Gaybutton wrote:
windwalker wrote: He did not gamble with his money; he invested it in the stock market.
I fail to see the significant difference.
I see it quite differently. Other than buying two lottery tickets in my life, I never gambled a penny. But I did invest my money. While working I invested money in growth stocks but when I retired I switched to a stable stock portfolio. And I did very well. Also I invested in gold and also did well.
The key words for "investment" are allocation and diversification. When someone puts all money in stock market , it is called a gamble.

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