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Deja-vu (or Asia-doo doo)
The Thai SET tumbled 15% in 2013 as political instability caused by protests against Prime Minister Shinawatra threatens the 2nd largest SE Asian economy. Protestors threaten to shut down Bangkok by January 13 in hopes of ousting the Prime Minister.
Crisis in Thailand brings back memories from 1997. The collapse of the Thai baht acquainted us with the term"crony capitalism" as well as a hedge fund named Long Term Capital Management.
With the break of the August lows in the Thai SET and Thursday's crack in US and European markets the situation in Thailand is starting to smell like Deja-doo doo.