OPINION

Doom or data?

Re: "The economy is waiting to hit an iceberg", (Opinion, March 20) & "UBS boosts Thai stocks with upgrade", (Business, March 20).

After reading Khun Chartchai Parasuk's predictions of the Thai economy nearing the point where it will unavoidably hit an iceberg as per the Titanic, gloom hit me. But when turning to a few pages, your economic and finance reporter, Nuntawun Polkuamdee, reported that leading Swiss investment bank UBS has upgraded Thailand's equity market from overweight to neutral. Though, UBS's reading is on macro aspects not only of Thailand but also for the world and not micro.

From experiences in determining the rationales of each writer's opinion, one tends to gain more from dry analysis than dramatic citations of things like the Titanic tragedy.

Earth needs laws

Re: "The cycle of self-interest", (PostBag, March 16).

Khun Michael Setter, in his many PostBag contributions, usually tweaks the opinion of his opponents such that they fit a need to release his hilariously stubborn "climate denial" rage.

The UN promotes multilateralism but has never "been seeking to end the sovereignty of nations", as Khun Setter asserts. U Thant called it a myth, as an extremely courageous and visionary person.

But this "Eastern" view of reality has been blocked by the strategically upheld myth of heroic individual autonomy. This worldview is a cornerstone of the US-driven world economy and its hegemony, which Khun Michael calls "modern civilisation".

Do we think "everyone will voluntarily give up their sovereignty to save the Earth?" Do we promote "communism" or "enforced altruism"? Do our proposals undermine the "foremost unalienable human right of self-governance" and the "ownership of oneself and one's property"?

Appropriate law and governance innovations like Earth Trusteeship to support these social initiatives and ensure they become part of our mainstream -- and not be branded as "idealistic nonsense" -- is a task long overdue.

At the UN level, we speak about the law of the oceans (our global commons), biodiversity protection, and climate justice as challenges requiring contemporary approaches no longer dictated by the past and by our worrisome present.

Debt truth hurts

Re: "Risk of financial crisis creeps ever closer", (Opinion, Feb 6) & "Thailand on the brink of financial collapse", (Opinion, Feb 20).

Freelance economist/columnist Chartchai Parasuk notes in his opinion pieces that corporate debt has now reached an unprecedented level of about 130% of GDP, while household debt is now so high that banks have refused to lend money to normal Thai people, causing Thais to resort to using informal financial institutions with ridiculously high interest rates for their loans.

This is why the above economist is absolutely sure that Thailand's economy will soon collapse, but he leaves it up to the reader to decide for him or herself.

There have been a couple of doubting Thomases who previously mocked him in this space for his dire economic pronouncements concerning the Thai economy. These smart-alecs can't accept the truth and have been unable to challenge Ajarn Chartchai by using facts, but rather with empty talk. I suggest that everyone carefully reads what the above columnist is stating here.

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