Short at 35
John Hempton had a post that attracted a lot of comment last year pointing out that the fact that baltic state hookers cost too much was a good sign that the currencies were over-valued. Read Hookers that cost too much, flash German cars and insolvent banks: an introduction to Swedbank’s Baltic homeland here and the update here.
Well, I have no idea how much hookers cost in Thailand, but I have recently seen how much wine, food, and hotel photocopying cost there. And I'm short Baht as a result. Purchasing power parity is a crude tool, but sometimes it gives you important information.
Well, I have no idea how much hookers cost in Thailand, but I have recently seen how much wine, food, and hotel photocopying cost there. And I'm short Baht as a result. Purchasing power parity is a crude tool, but sometimes it gives you important information.
Labels: Markets
posted by David Murphy at 09:24
2 Comments:
If it helps with the comparison, a decent Thai massage from a lady who is mildly surprised to see a female client (maybe I misinterpreted "massage parlour" again) is about 350 Baht (roughly £7) plus 100 Baht tip at the moment.
Definitely short at 9 quid including a tip. The Baht has at least 30% to fall, and it won't take much political instability to throw it over the edge.
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