Sagamite:







Eh, good financial management that "financial jargon's"  like PPP, monetisation and capitalisation manifest would ensure a country does not spend more than it should on activities, reduce corruption as investors monitor their money better than governments, reduce money leaving the local economy, improve productivity, improve global competitiveness, improve efficiency, improve economic activities, increase job opportunities, reduce stress on populace which reduces the cost they pay for healthcare.

Sagamite:










Improved healthcare and more jobs in the economy leads to more time for making money, making money leads to eba and (at least) ponmo on the table.

true which is still a mirage in nigeria as at today same as zimbabwe so??

Sagamite link=topic=145018.msg2443693#msg2443693 date=1214887578:



Considering your arguments, we can as well close down our Finance Ministry (even all Ministries) and go back to pre-colonial traditional ways because this whole education thing and financial concepts/strategies being developed by scholars in the world's best universities would not put eba on the table. 

frankly speaking yes,considering the failure of the ministries in nigeria,how has it fulfilled government promises to the average nigerian?higher fuel prices,crisis in health,energy,transport even banking e.t.c same as zimbabwe so??the best financial strategy in the world is nothing but words written on a piece of paper untill it has been implemented get it??
[quote author=Sagamite link=topic=145018.msg2443693#msg2443693 date=1214887578]




I did not study a commercial subject but I know all these by reading the Financial Times and watching BBC financial news.

good for you and clap for yourself 3 times,its not something im interested in and please lets talk about something more sensible than this,we r not in primary

Sagamite:

God, you made me laugh hard on this one, men. This one na super argument on your part.

What is happening in the stock market? Market correction?

I have told friends and family not to put their money in the Nigerian financial market because I knew it was overpriced because of the astronomical demand hence was due for correction. Price corrections happens EVERYWHERE. IT DOES NOT MEAN A FAILURE (if that is what you are alluding to). I told friends and family that the only ones that would make serious money are those that bought IPO issues not the secondary sales market as the high demand would have priced the potential return into the sales price. When the market corrects itself, things would be back to normal and sanity. Those that are financially sophisticated would make money.

don't laugh so much because even with my limited knowledge of these things i know market correction doesnt take this long,(go find out)and second that isnt the main or most important reasons,even though that isnt my main argument ill touch on a couple of more important reasons then u can go do some research yourself to see if im right,one reason that s really important is that external funds invested into the stock market by foreigners hoping for a quick gain and taking advantage of thebearish trend and then taking their money out after making in some cases 100% profit and moving their funds elsewhere,ghana is where most of them moved to and u can check the ghananian stock market presently to confirm,also majority of the money in the stock market are from nigerian businesses in nigeria,and so when people withdraw their money suddenly the stock market only has the local investment by local businesses/nigerians to fall back on/regulate the market,we do not have foreign investment which would have done that and so the market has not been strong enough,there are others like intergrity and confidence from outsiders,theres a lot of shares certificate fraud tho not connected to the crisis will make it worse running into hundreds of millions,theres been no checks and balances and no major prosecution ofnthese criminals which is not inspiring a lot of long term confidence im done with this and u can find out if im right but you are definitely NOT on point with your assertions

Sagamite:


as per the DG of the NSE:
So I can see you have "allegations". Allegations?

yes they r just allegations,read it in the punch newspapers and she has not come out to deny or sue them for slander almost 9 months or so,thats not inspiring confidence in the stock market tho is it?potential investors don't want to start hearing news like dg of nse alledged to be using nse funds for pdp campaign,or dg involved in transcorp e.t.c get it??stock market,banking ,financial institution is built on individual perception and integrity of the head fo the financial institution

Sagamite:

Let me just make a point to you here. THERE IS INSIDER TRADING GOING ON IN DEVELOPED MARKETS. It is just hard and costly to prove by the authorities. Every trader in the City would tell you insider trading exists. Read up on what they call the "China Wall" in investment banking and you will see that all the regulators can depend on is a company's self-enforcement (incredibly inefficient) and whistleblowers (very few are involved/privy and have the guts).

There are worse fears to investors like accounting fraud but even Enron's large scale one can not bring a stock market down.

Go and research how the Nigerian stock market has appreciated in the last 5 years then come back and give me your arguments of how it is not a success.

yes and even though i have not confirmed that ill just agree with you,but  t least in developed markets thewy have checks and balances,in addittion we always hear of high profile prosecutions showing they r taking it serious,we heard of the (is it societe general)debacle in france by the guy that lost the bank billions(not too sure)
we heard of the british guy in china or japan some years ago and that coming from a novice like me,tell me just one high profile prosecution from the nigerian stock exchange,considering the amount of shares certificate fraud,the allegations of insider trading which have not seen the light of day,what self enforcement do they have in the nse?when even the dg is always linked to one thing or the other
yes and was prompt action not taken concerning the enron thing?not like nigeria where its man know man
no one is arguing that the stock market was see the emphasis on was in yoruba that is "olowo atijo"im sure u get the corellation

Sagamite:


Just off the top of my head:
- More jobs.
- Less fiscal money flightation (the money the Ngr gov spends stays in the country as now our banks can handle big deals)
- Increased foreign direct investment
- Increased access to capital by some SMEs
- Increased access to capital for populace
- More flightation of foreign funds to Nigeria (with Ngr banks opening in USA, UK and western African countries)

I hope you know all these strengthen an economy?  If you still don't get it, do a bit of research of countries and see how the strength of their economy correlates with the strength of their financial houses.

Remember, just like you, I did not do a commercial degree but know all these.

off the top of my ass
more jobs?naaaaa unless u mean the few minority who have connections n studied yoruba,english or geophysics and working in a bank?
or u mean the young girls being exploited and used as glorified slaes girls/prostitutes called marketers?
less fiscal whaat?wrong what sector s the nigerian government spending that money on cause im clueless?where r the new deals the banks are handling?clueless man
increased foreign direct investment?wrong as well,foreign investors are jittery and are scared of investing in the nigerian economy
they saw what happened with the transcorp/nitel thing so u want the govt to wake up one day and reverse itself?
they see the niger delta crisis
they see the politics and corruption
wheres the foreign investment?or are u counting tobacco?or msn or multinationals??wowza
hmmmn thats cool i like the way u put that increased acess to funds by SOME SME s-u don't want to get caught out so i wont say nuifn but u know already lol
ill ignore the next one about capital to populace cause u know thats not true lol
which inflight of foreign funds to nigeria??maybe the flight of funds is coming on adc airlines and have crashed in the ocean,where r the funds?how many nigerians abroad dyu know that has these accounts when foreign banks are there,i certainly don't know any nigerian using them here unless u want yahoo boys to clean out your account, so please thats a mirage most of these banks just participate in trade and investment fairs,they certainly are not attracting the average westerner, of that please be absolutely sure
i agree everything you have said strenghtens an economy but not the nigerian economy cause its in crisis capische

the ppp wont work because you are totally wrong,go do some research and u ll find out that britain under margaret tatcher was in shambles then,that time brought the highest property repossessions,inflation was rife,companies and factories were closing up,in addittion the ira were doing their thing and the race riots was during same time as well,reason being that the white working class resentment that scarce jobs are being given to the migrant first generation jamo who were working for less, in fact an average oyinbo will fight you if you repeat this in their presence especially working class heartland like wales,manchester,bham e.t.c

yes the south south palava has not gotten to lagos does it mean its not affecting them,it has not reached britain,america,china does it mean its not affecting them

no no ,dont bother yourself doing the research on ppp the fact remains that i dont see the sucess of the ppp in nigeria period, show me where its been sucessful in nigeria??

i dont make up figures and stuffs as i go along,u get so ill rather say what i know so ill just post a few links to give u an idea
http://www.motherlandnigeria.com/govt_history.html
http://news.bbc.co.uk/onthisday/hi/dates/stories/july/7/newsid_2496000/2496305.stm note u dont get the same millitary option then from the bbc neither is there news of mp s debating on it(we all know why,seeing as we didnt chase our expats out )
http://en.wikipedia.org/wiki/History_of_Nigeria i normally dont rly on wikipedia as a literary source but it ll do for this purpose

the point im trying to make is that as far as i am concerned,10 people dieing in my country is same as ten thousand of others thats why the british and americans do not talk or report the death of thousands of iraqis or afhgans that have died but only keep a careful count of their citizens hope you get the logic?
and ill rpeat it again that you will be insulting some peoples sensibilities asserting that because more people died in zimbabwe,its more serious,its relative, i can direct it back at you that if 1,000 thugs lost thir lives in zimbabwe they wont elicit the same emotion as an innocent family or children that meets the same fate in nigeria so u cant quantify the balance of emotional turmoil

yes you say potato i say potatoe,you say tomato i say tomatoes same thing diffrent pronounciation, you say mugabarbage released results after several months and i say yar adull was the winner of the most corrupt and rigged election in the history of africa, so whats your point

i want you to think carefully before answering this question
is the exchange rate the sole determinant of how strong or weak an economy is??bearing in mind that a country s central bank can peg its exchange rate to control inflation e .t.c bank of england or to encourage export like the united states, dont forget china and its runaway currency some yrs ago so pls throw your facts into the nearest recycle bin abeg meanwhile whats the big diffrence between
6.4%
and 6.1%
considering mr 6.4 is exporting millions of barells everyday,has foreign reserves running into billions of dollars,bigger,budget is more than ten times that of mr 6.1 ON THIeR BEST YEAR,not forgetting mr 6.1 s sanctions and crisis so whats your point really cause i dont get it

yes because the western cameras were interested in filming zimbabwe and its crisis not nigerians, ill just run a few by you
political killings of eminent nigerians who are internationally known in their individual rights,
alfred rewane-killer unknown
kudirat abiola-government assasination
ken saro wiwa-government assasination/hanging
8niger delta activists-government hanging /assasinations(btw no one has been prosecuted as yet)
harry marshall-killer unknown but son has alledged that a serving speaker of state house of reps was directly/indirectly responsible
serving minister of transport also accused of being main godfather of cult group and their representatives has come out to say so with several witnesses
dele giwa-gvernment assasination no one has been charged in spite of overwelhming evidence
bola ige-alledgedly masterminded by serving senator,was arrested but after phone call from above was released(wont his senatorship election after enuff rigging even while in the cell
i can go on till tmorrow,give me five names of people of these calibre in zimbabwe
ill then start on imprisonment,then attempted assasinations e.tc

the ownership structure doesnt mean anything to me because
you said the zimbabwean media were note the word"muffled"meaning they spoke out against the government and some were banned,i didnt confirm but ill take your word for it now the nigerian press do not need to be "muffled" or banned because he who pays the piper dictates the tune,as for the nta and ac you are wrong there as well,they did not allow atiku to use the nta at all during his campaign,they used the efcc to witchhunt e.t.c a country where the vice is disgraced and u tell me is not worse off,where an ordinary election cannot be conducted without ballot snatching(did you see the zimbabwe voting in spite ofthe crisis?)where did u see any snatching,the man even though a dictator didnt even have the nigerian "to hell with it attitude"and even though he rigged he still shared it equally,what will u say to our own when the rigging will be 90% to 10%?or when a godfather in ibadan and several people were untouchable,every single governor uses state aparatus to rig and win elections,lets not start on comparing corruption levels in both countries
all these comparison is of a country exporting almost 2 million barells of oil a day with foreign reserves and 140smthn million people to a zimbabwe on its knees ,in a crisis and suffering sanctions, the fact that i can even have anything whatsoever to write in that defense is enough to support my stance

modified my arguments a bit but i cant do more than this as im not compiter literate lol,and pls pls im done with digressing

Sagamite:

Pretty hard to read and reply. Try and tidy it a bit.

To use the quote function, copy and paste this text so you can enclose my comments like this:
^{*Delete ALL the "k"s I have included in it for the underlying code to appear. The "k"s were just subterfuges or else my guidelines themselves would have appeared as quotes of my post which you can't see the underlying code.}

[k[/b]quote author=Sagamite[b]k]

Sagamite's comment aaaaaaaaaaaaaaa

[k/quote[b]k[/b]]

Lucabrasi's reply bbbbbbbbbbbbbbb




[k[/b]quote author=Sagamite[b]k]

Sagamite's comment cccccccccccccccccccc

[k/quote[b]k[/b]]

Lucabrasi's reply ddddddddddddddddd

Sagamite:

More vomit?

lucabrasi:

. . .[b]yes it was global news,for how long?show me where the prime minister of that time tabled it before the mps
show me where military option was considered even in spite of abiola being so close to them all??hmmmnn
show me where it was reported for the lenght of time this circus has been going on
i don't know where you reside and u can ask anybody in the whole of uk?daily mail didnt use abiola and nigeria in whatever guise or form as screen saver for like ages or if they did im sure u can prove me wrong,
as influential as abiola was,show me where they came to his aid when they sided with the government,when they came after abacha's death show me where the same pressure put on mugabe was put on the nigerian govt  abeggiiii

lucabrasi:

brings me back to my point,the west don't give a flying fck about being friends with you,they will be friends with abiola,mugabe and the devil as long as their interests are being taken care of and will drop u like a hot potatoe as soon as you r not serving their interestand please don't insult people's sensibilities by reducing their miseries which they r still going through to"killings under military rule more than 15 years ago"its very well for you to say because you have not experienced it,ill have you know killings is killing and it has no time frame thats why theres no statute of limitation on murder from my limited knowledge of law . . .

davidylan:

While Busy_Body is busy crying on behalf of Mugabe he is busy being feted by disgraceful AU "leaders" who are no better than he is at Sharm el Sheik.

otokx:

Is there NEPA in mugabeland?

davidylan:

The issue is about despotism, 500,000% inflation rate, 80% unemployment, life expectancy of 37 years.
The issue is about the fact that this same WEST are the ones who will be forced to airlift emergency food supplies to a starving people.
The issue is about a dictator only too willing to use the instrument of state to crush the opposition and stifle freedom of expression.
The issue is about Africa's penchant to turn a blind eye to the rapacious actions of their "leaders" only to blame the WEST.

davidylan:

But for the WEST 90% of Africans wont know what is happening in Zimbabwe. Blaming the WEST is the trump card of those unwilling to confront the truth  . . . it is time to remove our heads from the sands of denial, shouting loudly does not make your point right.

Busy_body:

One of the the purpose of education is to replace an empty mind with an open one, and we all should be willing to accomodate other people's reasons for their opinion. Afterall, if we learn something today, it only makes us wiser than we were yesterday.

Busy_body:

Without the WEST, 9 in 10 Africans would not know why Zimbabweans are fleeing their country.

Without the WEST, 9 in 10 africans would not know what is happening all over Africa

Are you one of those "Africans have a low IQ brigade", by any chance?

Laughable but would not go into this. But please, pray care to tell me what the truth is?

4 Play:

Knucklehead,have you learnt the difference between decimilisation and re-denomination ?

davidylan:

Without the WEST are we to depend on NTA network news for up to date reports on the Zimbabwean crisis? Or the News agency of Sudan?

Busy_body:

Okay, you got me there, don't know the meaning of decimilisation. When you grow up and learn to talk without insulting, then we can discuss the ramnifications of decimalisation if you want.

Busy_body:

Okay, I will take your word then that NTA and News agency of Sudan are the only source of information in Africa.

4 Play:

Doesn't the irony confirm that you are a cretin?

4 Play:

An idiot's attempt at a straw man's argument.

I still don't think your verbal diarrhoea is incurable, but then what's my humble opinion compared to that of thousands of others

Keep your chin up, keep talking, someday you'll say something intelligent.











Grrrrrrrr.

Don’t know why I give my time of day to a dipshit who emits an air of overwhelming vanity combined with some unspecific nastiness, like a black widow spider in heat.

I AM DONE WITH DEALING WITH SOMEONE WHO IS RELATIVELY INTELLIGENT, YET MAKING A SPECIAL EFFORT TO BE STUPID AND STRIVING DESPERATELY TO BE USED AS A BLUEPRINT TO BUILD THE VILLAGE IDIOT.

Consumer prices have more than doubled every month this year, in some cases doubling every week. A conservative estimate provided by Robertson Economic Information Services, a southern African consultancy, says that prices are now 3 billionfold greater than seven years ago--that is right: billion. The exchange rate is currently an astronomical 90 billion Zimbabwe dollars to one U.S. dollar. Furthermore, three zeros were removed from the currency a few years ago when new limited-time bank notes were issued, so the inflation is actually even worse.

When I first went to Zimbabwe back in 1996, US$1 would buy you just Z$8--a depreciation of exchange rate of perhaps 10 billionfold over twelve years. A decade ago, Z$500,000 would have bought you a house; today, it cannot buy you anything.


In Zimbabwe today, Z$50 billion will buy about two loaves of bread.


Incredibly, the situation on the ground is even worse than any available data can reflect. Inflation numbers are almost meaningless, with some reports showing that prices triple now on a daily basis, and for some food items, prices double hourly. Hyperinflation is now at or beyond the status of the post-World War I Weimar Republic and post-World War II Hungary, the worst recorded inflations in history.

Joshua Kipuru (not his real name because he is concerned about reprisals for criticizing the government) told me that he gave up trying to get cash at his bank in Harare last Wednesday because the lines were too long and moved too slowly. In the end, he bought groceries with his debit card, which remarkably still works. The card, he explained, maxes out at just under Z$10 billion. So he had to run it seventy-four times because his food bill was nearly Z$730 billion. Buying anything is a "bizarre experience," says Lucy Chimtengwende from Bulawayo, who spent US$12 on lunch yesterday, with the bill in local currency being an astonishing Z$1.1 trillion. The menu had no prices on it; prices are quoted and constantly changing. And if you want to pay by check, good luck. Most proprietors do not accept them, and those that do charge double the cash price because of the time it takes them to receive payment.

4 Play:

@busy_body
How Davidylan copes with this mooncalf,one wonders.