Mazeltovscotty:

it is too early to jump start a lovely day like this with.... - stooping so low to conversing with a simpleton of the highest genus. It's simply disparaging and an insult to the sensibility of economists in this forum. Notwithstanding, my point is.... I am not comparing America with Nigeria, I'm only trying to enlighten simple-minded people like you - that being indebted is not a negative economic pointer, neither is it positive; but we have so many advanced economies like America whose debt profile is as huge as their economy, yet yeilding fruitful economic returns. Like I said, only people who are well rooted in economic and financial activities will understand this.

They are too ignorant and illiterate to understand such levels of economics. That's why anybody can stir them up easily by such post without enlisting the projects and developmental purposes that these debt are meant for.
They'll attack and castigate you.

Mazeltovscotty:

it is too early to jump start a lovely day like this with.... - stooping so low to conversing with a simpleton of the highest genus. It's simply disparaging and an insult to the sensibility of economists in this forum. Notwithstanding, my point is.... I am not comparing America with Nigeria, I'm only trying to enlighten simple-minded people like you - that being indebted is not a negative economic pointer, neither is it positive; but we have so many advanced economies like America whose debt profile is as huge as their economy, yet yeilding fruitful economic returns. Like I said, only people who are well rooted in economic and financial activities will understand this.

We all agree with u on your statistics but the problem here is that unlike the US that borrows to improve their well being on the side of Nigeria their is no impact on the economy or infrastructure.

sorry1:
Afonjas and borrow pose are like water and akara

do you know how much america is owning china ?

Igbos are trying Sha....if biafra was a country their currency would have made sense when you consider their frugality in spending

Neminc:

http://punchng.com/lagos-kaduna-edo-top-list-of-foreign-debtors/

why was Anambra not mentioned? are they not owing too?

Neminc:

http://punchng.com/lagos-kaduna-edo-top-list-of-foreign-debtors/

why was Anambra not mentioned? are they not owing too?

Mazeltovscotty:
American debt profile is as big as its econony.
Only a few people with basic economic and financial knowledge would understand this.

Hmm

Mazeltovscotty:
American debt profile is as big as its econony.
Only a few people with basic economic and financial knowledge would understand this.

How do we make up this assumptions?

The reason American can owe such and still remain solvent is the capacity of the economy to generate wealth.

Secondly , the US dollar is world's] legal tender, that means that America can print dollar to pay it debt anywhere in the world ,so in essence America is owin nothing... , but Nigeria government can not print Nigerian local currency,the Naira to pay it debt around the globe , nobody knows your Naira . paying your debt means you have to source for Dollar to do so

So you guys should come try to come up with another logic why APC should mortgage your future with debt

Chukazu:


How do we make up this assumptions?

The reason American can owe such and still remain solvent is the capacity of the economy to generate wealth.

Secondly , the US dollar is world's] legal tender, that means that America can print dollar to pay it debt anywhere in the world ,so in essence America is owin nothing... , but Nigeria government can not print Nigerian local currency,the Naira to pay it debt around the globe , nobody knows your Naira . paying your debt means you have to source for Dollar to do so

So you guys should come try to come up with another logic why APC should mortgage your future with debt

it was not an assumption but bold fact. As well, your writeup shows that you have little or no knowledge about world economies (pls take no offence). Economic viability is one thing while being debted is another thing. There are so many debt free states that are not economically viable unless you want to prove otherwise.
Secondly, it is a poor economic thinking to have thought that America can print its own dollars to pay off its external debt. If you were the president of Nigeria, would you order CBN governor to print more naira to pay off you internal debt?

Mazeltovscotty:
American debt profile is as big as its econony.
Only a few people with basic economic and financial knowledge would understand this.

So, Nigeria is like America? I weep for most Nigerians.

Mazeltovscotty:

it was not an assumption but bold fact. As well, your writeup shows that you have little or no knowledge about world economies (pls take no offence). Economic viability is one thing while being debted is another thing. There are so many debt free states that are not economically viable unless you want to prove otherwise.
Secondly, it is a poor economic thinking to have thought that America can print its own dollars to pay off its external debt. If you were the president of Nigeria, would you order CBN governor to print more naira to pay off you internal debt?

You compare a "third world country" Nigeria that borrows to consume , with US world leading Economy of US that borrows to invest? ...are you not hallucinating?

If America converts as many dollar to bonds are they not printing currency to pay debt? What else is that?

You go and use your worthless Naira to pay foreign debt

Chukazu:


You compare a "third world country" Nigeria that borrows to consume , with US world leading Economy of US that borrows to invest? ...are you not hallucinating?

If America converts as many dollar to bonds are they not printing currency to pay debt? What else is that?

You go and use your worthless Naira to pay foreign debt

you are agglomerting series of economic faux pax.
Bond is a financial indtrument used by the government through its Apex financial institution to control the money in circulation internally. Although there are other uses of bonds but have you seen any sane country using bond to pay external debt?
We are talking about the necessities of borrowing as a nation not payment of debt. That is why I said many nairalanders lack the basic understanding of economic management. No Nation on earth specially PRINT more money to pay its external debt. Definitely if you become the president of a nation you will surely plunder your country into economic woes. You cnt make a good economic manager.

Mazeltovscotty:

you are agglomerting series of economic faux pax.
Bond is a financial indtrument used by the government through its Apex financial institution to control the money in circulation internally. Although there are other uses of bonds but have you seen any sane country using bond to pay external debt?
We are talking about the necessities of borrowing as a nation not payment of debt. That is why I said many nairalanders lack the basic understanding of economic management. No Nation on earth specially PRINT more money to pay its external debt. Definitely if you become the president of a nation you will surely plunder your country into economic woes. You cnt make a good economic manager.

Obviously you Know nothing about Bond.

Control of money in circulation is the least purpose for issuance of bond

I suppose it's been long you Left school...

Chukazu:


Obviously you Know nothing about Bond.

Control of money in circulation is the least purpose for issuance of bond

I suppose it's been long you Left school...

i suppose you didn't see where I said 'although there are other uses of bonds'. And prove me wrong if some financial instruments like bonds and T.bills cnt be devised as inflationary tools.

Chukazu:


Obviously you Know nothing about Bond.

Control of money in circulation is the least purpose for issuance of bond

I suppose it's been long you Left school...

i suppose you didn't see where I said 'although there are other uses of bonds'. And prove me wrong if some financial instruments like bonds and T.bills cnt be devised as inflationary tools. If you need my tutor on Bonds, dnt hesitate to let me knw

You all are shouting about only Lagos state debt profile but fail to notice that Nigeria is indebted to the tune of $14b and everyone is OK with that. for just 3years Buhari borrowed $14b with out anything to show for it. And some people will come here and tell me to pray for Nigeria that it will get better under this kind of leaders? I'm not stupid and I can't be.