Volatile Liquidity

PORNCHAI KITTIWONGSAKUL / AFP / GETTY IMAGES

The Thais will tell you that the annual Songkran festival (April 8 to 16) is all about thanksgiving and family reunions — and so it is. But the best part of it is the license to douse passersby with water. This practice is apparently a rite of purification, but given that temperatures in Bangkok at this time of year can easily reach 35C, it's also a brilliantly timed excuse to cool off. If you happen to be in the Thai[an error occurred while processing this directive] capital — or indeed in any one of dozens of towns and cities across the kingdom — don't think...

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