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Family Money: Strategic Changes?
By Leslie
Wright,
Managing director of Westminster Portfolio Services (Thailand) Ltd.
After a three-year slump in global equities and mixed
views for the future, investors have been re-assessing their portfolio
mix. The troubling question: what proportion should be allocated to the
various classes - equities, bonds, cash, property, and ‘alternative’
investments?
We have always known equities are volatile. In the good
times the lure of the upside dominates and the risks are all too easily
forgotten. It is only when high profile companies go bust and the indices
plunge, that the true significance of risk becomes apparent. And that’s
when panic sets in.
The higher the stock market rises, the greater the
downside risk. Three years ago technology funds were heavily promoted as
the bubble approached its peak, and for many, the short-term opportunities
totally outweighed the influence of rational investment analysis. Those
few of us who warned of impending disaster were laughed at, and ignored by
many - to their cost.
Now, however, investment institutions are trying to
develop products that will attract investors who have suffered the
volatile circumstances of the past few years. Old products, and some new
ones, are being wheeled out to tempt battered and bruised investors back
into the marketplace.
Sitting pretty
While returns on bank deposits have sunk to dismally
low levels, investors in long-term government bonds have been sitting
pretty. True, there are some deeply troubled countries, of which a prime
example is Argentina, where investors are foolish to rely on the
government’s creditworthiness. But in an environment of slowing economic
growth and declining inflation, quality government bonds, led by those
issued by the US Treasury, have thrived.
At the same time, though, some investors tempted into
corporate bonds by slightly higher yields have had their fingers burned as
credit risks have grown and once-glamorous, and apparently secure,
borrowers such as WorldCom and Enron have crashed.
The outlook now for government bonds no longer seems so
promising, as national treasuries around the globe are borrowing heavily
to support their lagging economies. In two years, for instance, the US
government has swung from a $200bn surplus to a $200bn deficit. Treasury
bonds that were in short supply may now become plentiful and, although
yields may rise for new investors, existing holders may suffer capital
losses.
True, there have been one or two defensive sectors,
including tobacco stocks and gold mines that have stood apart from the
general weakness. But we would have needed to be very smart and lucky to
have picked them out in advance. Now may be too late to jump on those
bandwagons.
Real estate, in several countries, has performed well,
but we should be leery of residential apartments in the UK as attractive
buy-to-let propositions; the housing bubble has already reached
spectacular proportions. The current heavy promotion of properties bears
too much resemblance to how high-tech equity funds were being hyped three
years ago. I, for one, fully expect this bubble to burst quite soon.
Beware the hype
For many years balanced investment contracts such as
“with profits” and “guaranteed returns” from large insurance
companies relied on high returns on equities to top up the yields and
finance policy bonuses. But the slump in equities has hurt life insurers
badly, and many international companies are in trouble.
Some life companies are considering making more use of
the now huge markets in derivative contracts to top up yields. But in
hedging out known risks it is uncomfortably easy to encounter unknown new
dangers.
Generally, hedge funds do not rely on forecasts of
overall market movements, and can perform well in falling markets. Some
have prospered. But in practice many do badly and quickly fold. Of most
interest are the various “absolute return” strategies. The aim is not
to beat a yo-yoing stock market in the short term but to deliver a steady
return each year without much fluctuation.
The current fad is for funds of hedge funds, which give
retail investors low level access to a range of underlying hedge funds
while diversifying risk. The basic rule is that diversification reduces
risks - but at the price of reducing returns. It is best to keep things
simple, as the more complex the investment contracts, the more expensive
they are likely to be, and hedge funds are the worst in this regard.
Retail investors are also being enticed with investment
products decorated with comforting words such as “guaranteed” and
“low risk”. Many of these sound simple in theory but aren’t in
practice. The charges are sometimes less than transparent and the fine
print bears close examination. The costs of going in may seem low, but the
costs of getting your money out before the end of the contract - which can
be up to 8 years - can be very heavy.
Tried & tested
Old-fashioned balanced investment strategies are coming
back too. The basic approach here is a mixture of bonds (for income and
low volatility), and equities (for capital growth) - the best of both
worlds, though it may also be seen as neither one thing nor the other.
Balanced investors would still have lost money in recent years (see
table), though less than equity punters. In the good stock market years,
balanced portfolios would have made far less money than straight equities.
The next step up is an active tactical switching
approach whereby every so often bonds, equities and deposits are
reappraised for value and risk, and the allocations rebalanced. But
history shows that it is fiendishly hard to get these decisions right:
even when good fundamental choices are made, bad timing can leave
performance horribly adrift for months or even years.
So we should view our portfolios as representing a balance between
safety and speculation. Somewhere out there are investment opportunities
which will pay off handsomely during the next few years. But even the
global investment industry does not know what or where they are, and few
of us have crystal balls.
Snap Shot: Uneconomic repairs and Photographic Phun
by Harry Flashman
The other week a keen amateur photographer wrote in
with a problem. “I have an old, 25 years I think, Pentax K2 which I need
to have overhauled as the shutter speed indicator moves sluggishly, I
believe the lubrication has dried up. I have tried firing the shutter at
different speeds for a long while but the problem is still apparent.”
This photographer has really done as much as he could
under these circumstances and it is time for a trip to the camera doctor.
However, what should also be looked at here is the economics of
persevering with this camera - after all, it is 25 years old at least. For
example, would you bother with a 25 year old car, or think about trading
it in at that age, for a newer (and better) one? My feeling in this case,
is that if the repair quotation is more than 1,000 baht it isn’t worth
it. The old K-mount Pentax’s were good cameras, but the technology and
optics have been improved greatly since then.
Being a great believer in “good” second hand
equipment (see previous columns on how to buy a second hand camera) I
would be going down that route, rather than the repair one. With 25 year
old cameras, that have had a long history, there are other parts ready to
wear out, as well as just the shutter mechanism. A newer Pentax would have
fewer problems, and give the owner more fun in trying out its
capabilities.
I think it is important to remember that “fun” is
the important ingredient in photography. If it isn’t fun - then don’t
do it - and that just about goes for everything in life! (Sorry to be so
philosophic, so early in the new year, too.)
One way to really have fun with your camera is seeing
what it really is capable of. And after seeing what it can do, being able
to reproduce the effect. This is why I keep stressing the Manual Mode in
the camera, and keeping a notebook. If you glue your SLR in the Automatic
Mode, then you will only get shots that are “average” in exposure -
shutter speeds and apertures worked out by the camera’s electronic
brain, rather than yours. Stick it on manual and experiment. That shutter
speed that the electronic brain says is incorrect, might just give you a
wonderful emotive blurry shot that is an award winner! Or if nothing else,
worth blowing up and framing and hanging on the wall! And by using your
notebook, you will know just how you did it, and can do it again, and
again and again.
The annotations in the notebook should be simple
jottings like, Back-lit, Frame 1, f5.6 @ 1/30th; Frame 2, f5.6 @ 1/60th;
Frame 3, f5.6 @ 1/125th. When you go through the finished prints you will
be able to see the results of 2 complete stops of exposure difference.
Sometime I will also jot down the exposure indicated by the (inbuilt)
exposure meter. Until you are completely familiar with your camera, the
little notebook will stand you in good stead, for years if necessary.
You should never stop experimenting either. Some days you will amaze
yourself at what you can get away with! I mean photographically! For
example, I tend to take a large number of photographs at night, generally
indoors but in low light conditions. I set the flash on f5.6 and generally
set the shutter speed on 1/30th, but to bring the background up a little
more I will set the shutter speed to 1/15th. This is in ‘camera shake’
territory, but the majority are fine. Now I have found that I can fire off
a couple of frames, right down to 1/4 second and still get away with it.
OK, I will lean on a wall, or hold the camera firmly against the wall, but
the end results are looking good. In theory it won’t work, but it does
for at least 75% of the time. Try it yourself and see the difference.
Modern Medicine: Break Bone Fever
by Dr Iain Corness, Consultant
This ailment is particularly prevalent at this time,
even though we normally expect it at the start of the wet season. Why have
you never heard of this disease? That’s very simple - these days it is
known as Dengue Fever. Since there has been a Thailand-wide epidemic, I
felt I should write on this topic again, as it is potentially lethal.
This ailment was first described in 1780, when the name
Break Bone Fever was applied, following the principal symptoms of pain and
rise in temperature. The name “Dengue” did not come till 1828 during
an epidemic in Cuba. The new name was a Spanish attempt at a Swahili
phrase “ki denga pepo” which describes a sudden cramping seizure
caused by an evil spirit! So there you are! Amaze your friends with your
new found knowledge!
However, let me assure you that the local brand of
Dengue Fever owes nothing to spirits, evil, bottled or otherwise. Dengue
is caused by a virus, passed on by a mosquito bite, from the female of the
species Aedes aegypti. This little blighter is most active at sun up and
sun down and breeds in standing water around your home, as it only flies
100 metres from the breeding ground.
There are actually four distinct Dengue virus serotypes,
and although being infected by one of the serotypes gives you an immunity
to that particular one, it does not give you immunity to the other three.
This being the case, it is theoretically possible to catch Dengue four
times. And that’s four times more than you want!
Dengue also comes in two distinct clinical types -
Classical Dengue and Dengue Haemorrhagic Fever (DHF). Taking the Classical
variety - 3 to 14 days after being bitten, the sufferer (and you do
suffer, let me tell you) will begin to experience fever and muscle and
bone aches. Over the next few days this gets worse so that even the skin
is painful to touch. The next stage is a skin rash and even a joint pain
like arthritis in some cases. It is interesting to note that Dengue Fever
is the cause of between 20-30% of all fevers in our national capital
Bangkok. Being a virus, the treatment is just to alleviate the symptoms,
and paracetamol works well in reducing fever and pain. However, despite no
specific treatment, the outcome is generally fine, although the sufferer
may be very weak for a while after recovery.
On the other hand, Dengue Haemorrhagic Fever can be
fatal - so keep reading! It appears that Serotype 2 may be the culprit
here, but for some strange reason, Serotype 2 does not usually produce DHF
unless you have been previously bitten by types 1, 3 or 4. In addition to
the symptoms of Classical Dengue the skin begins to bruise very easily as
the blood haemorrhages into the skin. Children are also more susceptible
to this than adults. This also becomes much more of an emergency and is
best treated in the Intensive Care Unit (ICU).
With no specific drug to combat the DHF virus, the
answer in avoiding this ailment is to plan your defence against Aedes
aegypti. This is done by removing sources of standing water from around
your home, flyscreen windows that are left open and wear clothing which
covers the arms and legs, in conjunction with the application of
anti-mosquito compound DEET. You have been warned - I can do no more.
Heart to Heart with Hillary
Dear Hillary,
Our fifteen year old daughter seems to need money every
day, in fact so much so that my husband describes her as a machine that
runs on cash. The hand goes out when she is ready for school and usually
just as the school minibus arrives to pick her up. We do give her a weekly
allowance of 100 baht which is supposed to cover her whims and fancies,
but I think it is a bit low, but my husband does not agree. She has to do
her jobs around the house to get the allowance too. What do you think,
Hillary? Should we increase her allowance, and how do I stop the begging
hand at the door in the mornings?
Worried Mum
Dear Worried Mum,
I am glad you have seen there is a problem here, and
the hand out at the front door is just the result, not the problem itself.
Honestly, how much does your husband spend on himself every day? Much more
than 100 baht, I am sure. Your daughter needs to be shown how to budget
and save, but her allowance does not give her enough to spend, let alone
saving any. You must know some of the other mums at school, ask them how
much their 15 year olds are getting. 100 baht a day would be much closer
to the mark I would feel, though Hillary is out of touch these days, but
you should sit down with your daughter and discuss her needs and divide
them up into items covered by the family budget (soap and toothpaste for
example) and those to be covered by her allowance (luxuries). Once she has
a budget to manage, she will not have to resort to subterfuge to get extra
money as the bus arrives. Get your “tight” husband involved in all
this too, and if he says he can live on 100 baht a day divorce him for
bare faced lying!
Dear Hillary,
I live overseas and my father lives in Thailand. He
separated from my mother four years ago after many years of marriage and
Mum seems to be handling the situation OK. My problem is that I am due to
come out to Thailand this year for holidays (I come every second year) and
I do not really want to have anything to do with Dad’s new girlfriend. I
just don’t know how I can accept her and not feel that I am turning my
back on my very loving mother. What do you think I should do? I want to
see Dad, but not his woman.
Daffy Daughter
Dear Daffy Daughter,
You have not yet come to terms with the situation
between your parents, have you my Petal? You have to accept that your
parents live separate lives and that it is perfectly OK for you to love
both of them as individuals. In fact it would be abnormal for you to be
otherwise. You want your mother to be happy and you should want your
father to be happy too. If that happiness involves his being with another
woman, then you must accept that too. If you cannot, then come next year,
not this. You never know, Dad could have a string of girlfriends by then!
Dear Hillary,
Repair me to Dorking after yet another lovely vacation
in Pattaya. I discovered a buttercup and became her Stamen (margecups are
not my bag - oilseed rape too much). Only one small problem, her Thai
nickname was Nit. I could not possibly say “Hi Nit, love you Nit, no
forget you Nit” and so, Hillary, I decided to call her Hilary (sic)!
After Sir Edmund, the famous Himalayan teeter and totter merchant. Good
idea, yes/no?
Mistersingha
Dear Mistersingha,
Whatever turns you on, I suppose. But Dorking?
Isn’t that where the Dorks come from? And just by the by, my Petal, Sir
Edmund’s surname has two “L’s”. He is like me, Hillary. Only
difference is I don’t climb mountains!
Dear Hillary,
It is so nice to be back here in Thailand. The weather
is fabulous, the ladies are too. My only worry is just how do you make
sure you don’t get ripped off? I read so many letters from chaps who
have been fleeced, that it cannot just be a coincidence that this happens.
Is there some way to tell, early in the relationship? I intend staying
three months this time.
Canny Scot
Dear Canny Scot,
You men amaze me! You are coming out here for three
months and want to know how to make sure you don’t get ripped off!
Surely that is quite obvious. Don’t give anyone anything and you will go
back to Bonnie Scotland with your sporran as tightly locked as it was when
you got off the plane in Thailand. However, if you want to have an
enjoyable holiday out here, just take the normal precautions if you are
going to invite anyone into your hotel room, don’t go leaving vast sums
of money around the place and secure your credit cards. It really is
common sense. A little rule of thumb - if you give a lady money to buy an
item and you don’t get the change, then change the lady!
Coins of the Realm: Rare banknotes to go the block in Singapore Auction
by Jan Olav Aamlid - President - House of the Golden Coin
http://www.thaicoins.com
On Thursday March 6, the annual Singapore Coin Auction
takes place. The auction consists of 1319 lots of coins, medals,
decorations, banknotes, postcards and even some weights.
$10 propaganda note
airdropped over Malaya and Singapore in late 1944 or early 1945.
277 lots of banknotes are to be auctioned off. Among
this group we also find the highest estimates: US$35,000 - 40,000 for a
$10,000 printed by Bradbury Wilkinson for the Board of Commissioners of
Currency Malay during the Reign of King George VI in 1942. The note is a
color trial, purple and multicolored. In red it is printed on the note:
“SPECIMEN OF NO VALUE” but with this high estimation it is hard to
believe.
During the Japanese occupation of Malaya, WWII, the
British forces began airdropping leaflets, using the face of $10-notes of
the Japanese invasion money as its design, notifying the public of the
abrogation of the invasion notes. The leaflets had Malay words - “WANG
JEPUN AKAN MATI BERSAMA2 JEPUN” - written obliquely across the face of
the note, which meant, “The Japanese invasion money will perish with the
demise of the Japanese”.
Two baht silver coin issued
during the reign of King Mongkut in 1860.
The back of the leaflet carried notices in Malay, Jawi
and Chinese printed in red. The Chinese version read: “The Japanese were
driven out of Burma and their invasion notes were annulled. But the
British Burmese currency is still legal tender. When the British return to
Malaya, the Straits currency will retain its value, but the Japanese
invasion currency will perish together with the demise of the Japanese.”
The British Psychological Welfare Division in Calcutta
printed these leaflets, and there is a serial number at the bottom of the
Jawi text on its back - SMA/39. The airdrop was made over Malaya and
Singapore in late 1944 or early 1945 and the Japanese had not surrendered
then. As such the people were afraid to be caught in possession of these
leaflets, resulting in their rarity today.
This reflects in the estimated price of US$1,000 -
1,200.
High estimates are also being given to a group of notes
from private banks in Strait Settlements. A set of $10-, 25-, 50-, 100-
and 500 issued by Asiatic Banking Corporation in 1865 is being sold
separately, but the total estimate for the 5 notes is US$230,000 -
255,000. This set is believed to be the only one recorded, and was not
known until 1985. There might be one set with the printers of the notes.
The Asiatic Banking Corporation was established in 1862 but failed in the
1866 crash and disappeared without a trace, except for these notes.
Asiatic Banking
Corporation, Singapore, unique or very rare notes estimated at US$230,000
- 255,000.
From Thailand there are nine notes to be sold. Four of
the notes are so-called lucky number notes, estimated from US$100-120
each. The notes are of 20- and 100 baht denominations and carry numbers
like 5A1111111, 5H3333333, 86U333333 and 45T888888. Notes with the same
number also before the letter are much more expensive, and notes with only
9’s, like 9A999999, are the most popular, and collectors are willing to
pay enormous prices for a note like this. Check your notes, it might be
your lucky day.
A nice group of Thai coins will be auctioned off, the
earliest from the post-Narai period; the latest a 4,000 baht gold coin
commemorating the Year of the Child in 1981. Seven pieces of Silver Pot-Duang,
bullet coins, representing 1 baht coins from the first four Kings of the
Rattanakosin Era are estimated at US$100 - 150. This might be a good start
for a bullet-coin collection.
The highest estimate in the auction for a Thai coin, US$500-600, is on
a two baht silver coin issued during the reign of King Mongkut, Rama IV,
in 1860. The coin is graded to be extremely fine, and this estimation
seems rather conservative, but bidders must remember that there is a
buyer’s premium of 15% + local tax.
Personal Directions: Head and Heart
by Christina Dodd,
founder and managing director of Asia Training Associates
The fact that we are endowed with intellect and the
ability to feel is proof enough that each has its rightful place in the
scheme of our lives. Favoring one or the other then, would suggest that we
may be at a disadvantage when it comes to making the right decisions.
During the week I was pleased to receive an e-mail from
an unknown reader of Personal Directions. This article – authored by
John and Melody Anderson - spoke volumes and impressed me with its
simplistic approach to a very real and acute problem that is – making
the right decisions. I thought I might share it with you as it touches on
issues for all of us as we make decisions in our daily lives, and as
leaders make decisions either in business or on the “world stage”,
with consequences that we will all have to live with.
The conflict between head and heart is
well known, for it is understood that as human beings, we are liable to
favor one or the other from time to time and become unduly influenced by
the extreme side of each. Head and heart though, are largely misunderstood
and often a balance of both will bring the most satisfactory
results.
Heart is seen as the less favorable option if one is to
be influenced at all, for it is commonly thought that one makes more
rational decisions when operating under the influence of head. Allowing
oneself to be influenced by heart is regarded as foolhardy, for love is
unreliable as a motivator. In fact, nothing could be further from the
truth.
Love, used as a guide for living one’s life, will
lead to 100% success every time. Using one’s intellect may work some of
the time, but it is less reliable, less spontaneous, less flexible and
much more clumsy, with a less than perfect success rate.
Using intellect alone to solve problems or to handle
situations has many disadvantages. Probably one of the more obvious ones
is that in using intellect or head, the individual has to rely on past
experiences to guide them in new situations. This can have serious
pitfalls, particularly in situations where things may seem the same, but
may in fact, be different. Heart is the only reliable solution here
because head cannot anticipate subtle differences very efficiently,
especially at these times when things seem to be the same. However, with
the use of heart an individual can feel what is right and is not shaken by
how things appear to be. As long as they are prepared to trust to the
feelings, success is assured.
The problems begin when head interferes with heart and
tries to take over the problem solving. This is very easy to do, because
very often, feelings cannot be explained or logically justified and the
need to explain can be very strong within us. It can often seem easier to
go along the road that has a suitable justification or reasoning, than to
follow the nebulous road of feeling and to not even know why you are on
that road. Yet once again, feeling is the only way to circumvent the
confusion that intellect can produce. There is one snag, however, and it
is the snag that beats most individuals every time. Trust. Without it, the
information the heart offers is almost useless. For it can easily be
rejected out of hand, through the interference of reasoning and other
mechanisms of the intellect and many a time the individual can let
opportunity slip by.
Another more insidious snag is the confusion that can
exist between feeling rightness and allowing that to motivate us
and the feelings of revulsion and threat etc., that can result from
a threat to one’s identity. We might think at times that our feelings of
revulsion are really instinctual feelings that are telling us not to do
something. In one sense they are telling us not to do something, but for
‘impure’ reasons. This can only adversely affect the individual if
they allow the intellect free reign to perpetuate the process. For the
head performs a critical function in this scenario. The feeling of
revulsion may be there, but it is never felt in isolation. There are
always negative thoughts, justifications, reasons and other variations
present in the process, that ensure that we do not do whatever it might
be. A genuine feeling is never felt as a ‘don’t do’, a
‘don’t want to’ or anything proceeded by a ‘don’t’. A
genuine feeling is always suggestive of affirmative action and is
therefore easy to distinguish. If there are reasons to justify not doing,
this impression is not a product of heart, but of head in tandem with
identity.
And this is an important distinction. Head by itself is
not inherently destructive or defensive. When paired with a vested
interest, a hidden motive, a need for identity, however, it takes on a
negative quality all of its own. There is obviously a natural and right
function for the intellect, otherwise we might assume, we would not have
it. And that right function is to work together with the heart, free from
identity in order to help us prosper in life. We must use the head to
create and investigate options, communicate concepts and to generally
enhance the functioning of the heart.
We cannot rely solely on the heart as such, because
practicality requires that we use our intelligence to survive in life. We
cannot rely solely on the head, for we would be devoid of desire, passion
and the other emotional experiences that make life what it is. Put the two
together, with a desire for rightness and use them wisely and we have
access to a very powerful combination, with the potential to take
us anywhere we wish to go in life, with precision and with passion.
If you wish to talk further on matters of personal and
self development, or on matters that concern your business, the
effectiveness and needs of your staff, then please contact me at Asia
Training Associates – email: [email protected]
For details on our programs and our company, please
visit our website: www.asiatrainingassociates.com
Social Commentary by Khai Khem
Is our peak tourist season brimming over, or is our glass only half full?
This is an honest question. I am not a tourist, and to
me Pattaya seems to be chocked full of visitors on holiday having a
wonderful time. Various statistics coming in from government and private
sector organizations tell us we are one of the most famous and popular
tourist towns in the world and the numbers are rising. However,
conversations with business operators and long-stay tourists who have been
coming here every year convey to me that business isn’t as vigorous as
it could be. The old expression “numbers don’t lie” just got canned
recently during the Enron accounting scandal, and even that old saw “the
camera doesn’t lie” is weekly refuted by our Pattaya Mail columnist
Harry Flashman.
During lunch with an American friend who has been
coming to Thailand for more than a decade and retired here two years ago,
I got a slightly different point of view of the ‘business climate’ in
Pattaya. My pal Paul had a decidedly different take on the health of
business and prosperity in Pattaya. I will omit his full name, since
although he deserves some credit, I doubt whether he wants to take the
flack.
In his view, the influx of ‘farang’ into Pattaya
has not yet materialized. According to him, a spin down Beach Road, Second
Road and the various bar sois will substantiate this. It appears many
regulars have returned for long high-season stays, as evidenced by lack of
vacancies at conveniently located apartment buildings, but hotels, bars
and restaurants have too many vacancies for this time of year. Most
expected to make up their losses of the last year (since the 9/11
terrorist attack) by now. It hasn’t happened.
Paul said that reports tell passengers that airlines
are booked solid on flights to Bangkok from December to February and many
would-be travelers to Thailand can’t get a seat. However, friends in the
USA tell him THEY have no problem getting reservations to fly from America
to Bangkok.
That sent a message to him that fewer Americans are
coming, probably because of several reasons: poor economy, job losses,
stock market losses, waning consumer confidence, and fear of terrorism -
not necessarily in Pattaya, but overall (in-flight threats, airport
threats, general unease about traveling anywhere).
Then we turned our discussion to what has made Pattaya
a household word around the globe – our gorgeous, friendly and
accommodating Thai women who work in the ‘hospitality business”. My
friend is a handsome bachelor with lots of time on his hands and is
qualified to gather some pretty good information. He thinks the women who
work in bars are particularly hard hit. According to him most of them
continue to draw monthly salaries of 2,000 to 3,500 baht - if they
actually get salaries and don’t work solely on ‘commission’.
But that barely sustains them, covering only rent,
food, transportation, clothes and their omnipresent mobile phones. We
mutually agreed to go along with the game and walk the party line that
there is no prostitution in Pattaya. But these girls do rely on the
generosity of costumers who voluntarily ‘gift’ them with baht in
return for their favors.
The supplementary income of bar girls (500 to 1,000
baht a day - or night) has declined drastically, and hopes of a windfall
during the tourist season are dimmed. Consequently, Paul surmised, tens of
thousands of families in Isaan and the north of Thailand who would
ordinarily be subsidized by the working girls in the family are left to
their own devices.
Young children, elderly parents and dependent
boyfriends are no longer getting what they feel are their just desserts.
They are forced to budget; the kids will get fewer electronic games and
toys this year, Mom and Pop will not have their year-old mobile phones
replaced by newer models and may have to wait another year before their
daughter builds a new house for them.
Laggard boyfriends and husbands must do without the
latest model motorbike and may even have to refrain from visiting their
favorite brothels. Pattaya’s economic prosperity therefore, really does
have a direct impact on the nation’s financial system.
Of course, the prettier bar girls and physically
enhanced go-go dancers will suffer little. They will attract the few
tourists and many expats who find sexual relief and/or ego gratification
in the otherwise empty experience of conjoining with a beautiful young
girl in return for US$12 or 7 pounds sterling.
But Paul wondered what happens to the girls who are not
so attractive, those that are too fat, too thin, too dark, and too ugly?
What becomes of their families and friends who depend on the income
derived from these girls working as “waitresses” and “cleaning
ladies”? How do the girls try to explain that their monthly
“salaries” have been slashed from 30,000 baht to 2,000 baht?
At this point I began to wonder how a fat, ugly and
‘dark’ cleaning lady raked in 30,000 baht a month and then mentally
reviewed my own CV. Sometimes even a journalist learns to keep his eyes
open and his mouth shut.
Women’s World: Stress Part
3
by Lesley Warmer
Menopause: This is a dreaded word. We seem to live
our youth heading towards it as if it’s the end. Realize that menopause
is a natural process. I know some women have it badly but I often wonder
if it isn’t indoctrinated into us that it will be awful. I decided a
long time ago it’s not going to bother me and ‘touch wood’ so far it
hasn’t. It’s said that the loss of estrogen causes stress at this age,
but there are many turning points in our 40’s and 50’s that can
contribute to emotional issues. Career changes, children leaving home or
returning, parents needing care or dying, and our own physical signs of
aging.
The
Fitness Park - what could be easier?
I feel some women probably use it as an excuse for other
feelings of dissatisfaction with their life. The best advice I can offer is yes,
know it’s coming but don’t live your life expecting it to arrive. When the
time comes for you, don’t just sit and accept it, fight back and remember you
have hundreds and thousands of woman going through exactly the same feelings and
symptoms. You are not alone.
Sleep: We all need sleep - some people more than others.
Personally, if I sleep for too long I feel horrible and look worse. Some would
say your body sleeps when it needs it. I’m not sure but I find a routine sleep
pattern works for me. Lack of sleep leaves you far more susceptible to stress
and bad health. Getting the proper amount of rest is a core ingredient to
reducing stress, increasing energy and productivity.
Diet: Food is a problem for me because I have to admit
that I don’t really enjoy eating. Some people think I’m lucky, I don’t get
tempted to put on weight. Believe me it can be the same problem trying not to
get too thin, especially as gravity takes a hold in later years. When I was
feeling so unwell it gave me a chance to reflect on my diet and I am making a
serious effort to eat 3 times a day. Probably not always the correct diet but
I’ve never been able to follow a calorie book or diet sheet, it’s not
realistic in a working women’s life. I do have friends that attempt these
awful restrictions on their diet but they usually only keep it up for a couple
of weeks. Why bother, everything in moderation I say. The best I can do is
cereal, fruit, vegetables, meat, and not too many eggs (my cholesterol is a
little high), and I take vitamins every day. My biggest problem at the moment is
smoking, although I only smoke 5 cigarettes a day I really want to stop. The
problem is when I’m stressed I smoke more, it does help, so what is worse for
my health the stress or the smoking?
What can help? Breathing is a great help in a state of
stress. We often hold our breath when we are experiencing a painful emotion. Try
breathing instead; it will steady your heartbeat and quiet your mind to help you
relax, enabling you to think more clearly. This works best in a relaxed
position. Focus your attention on your breath. Use a normal breath
(diaphragmatic breathing is considered a normal breath). Count your breaths
until you reach 10. Then start the count over again. If you realize you are
counting breaths over number 10, this is a clue that your mind has wandered.
Repeat for several counts of 10.
Do not make important decisions when you are stressed. Wait
until you have calmed down and can think clearly. Writing in a journal is one
way to help you express and gain clarity about your feelings. Take advice. If
you feel unable to manage your own stress, talk to someone, don’t bottle it up
inside. If you need a doctor you can contact the Bangkok Pattaya Hospital where
there is professional help for stress related problems.
As you can see from the pictures we have a great fitness park in Pattaya, so
I’ll see you there ladies!
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