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Where does Khun Alongkorn draw his expectation from - that the fake buyers, foreigners and Thais alike, would simply switch to buying the original brand items? I have known a few people who happily choose to use the fake version whilst they have the income allowing them to buy "the real thing".

The majority of buyers, however, could simply not afford to buy the originals and therefore overall consumption would go down, leading to loss of income, not so much in the factories of Luis Vuitton and the like, but in the back-street sweatshops and among the street vendors.

Believe me, Khun Alongkorn, from many years of observing the scene in areas like Pratunam and Sukhumvit Road among many others, I would suggest that many tourists are indeed "here for the fake products", however unlawful and immoral such behaviour might be.

Thailand is not the only country where wishful thinking is shaping political decisions, like hoping that hiking alcohol taxes and restricting selling times will lead to reduced consumption of alcohol. Go to Scandinavia and see how much the highest alcohol prices in the world have curbed alcoholism. Zero.

WOMBLE

BANGKOK

May be it's time to slowly return to stock market

Re: "Watchdog: Don't be misled by the stock market rallies", Opinion, May 9.

Nophakhun Limsamarnphun's warning of the current six-week rallies as having no legs is most timely. However, after reading his rationale, I conclude otherwise that it is time to begin to buy stocks slowly.

First, when economies are not doing well, why should stock prices rise? Historically, stock prices rise in expectation of an economic recovery. They rise because the dip has gone too far and investors' perception is less pessimistic.

Second, stimulus measures are like an electric shock to jumpstart a heart into beating gain. But most are well aware that remedial programmes are more essential.

Third, stocks are globally moved by an interdependent world economy. The decoupling theory of one area independent from others is no longer applicable in this modern world.

Fourth, the current crisis was due to a complete breakdown in the world financial structure affecting spending of businesses and consumers. Unlike the 1997 crisis, the recession was not ignited by the real sector but by financial turmoil.

The correction process is now on course and has given much confidence to many experts especially Ben Bernanke who is normally careful with his words but lately ventured to express a positive view of seeing a glimmer of hope.

Fifth, Thailand's economy is dependent on exports, 65 per cent of GDP. Its recovery is not dependent on domestic policy but substantially on world recovery.

The world economy is now at bottom or almost near bottom, therefore, weighing the downward risk against that of the upward is crucial. With the current progress worldwide, I'm in favour of buying stocks for a chance at the upward trend.

Finally, as to politics, the pressure is now reduced, following the ugliness of the scenes at Pattaya and the Interior Ministry, which have caused the majority to call for reconciliation.

Weariness of the public with the games played by both sides is likely to bring politics back to normalcy.

SONGDEJ PRADITSMANONT

BANGKOK