Thailand’s Junta Government Clamps down on Facebook and Media

Thailand’s coup regime has just censored Facebook. 

From Reuters:

Thailand's information technology ministry blocked Facebook on Wednesday and planned to hold talks with other social networking sites to stem protests against the military government, a senior official said.

"We have blocked Facebook temporarily and tomorrow we will call a meeting with other social media, like Twitter and Instagram, to ask for cooperation from them," Surachai Srisaracam, permanent secretary of the Information and Communications Technology Ministry, told Reuters.

So the new military government will open only media sites for as long as they sing hallelujahs on them

This applies to Mainstream Media too…

Print and broadcast media have already been instructed to refrain from critical reporting of the military's May 22 takeover.

As I noted last weekend, Thailand has a gigantic bubble that appears to be in the process of unraveling. And Thai junta government’s increasing recourse to repression may just aggravate the current deteriorating conditions.

So what’s next? Will the new Thai government impose capital controls?

Nonetheless even in the face of Thailand’s contracting economy and the recent putsch, such factors hasn’t been a barrier for the stock market bulls. 

Notice the contradictory forces at work: contracting economy and rising stocks. So who says stock markets are about the economy?

And if there is any sign of financial market pressure it has been in Thai’s currency, the USD-baht…

…which seems poised for a breakout.

Again these are evidences of massive disregard for risks or "peak complacency".