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Nigeria's Economic Woes- Who Is Responsible? - Politics (2) - Nairaland

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Re: Nigeria's Economic Woes- Who Is Responsible? by blackpanda: 8:47am On Oct 16, 2018
[s]
Great2017:


What about the population of the USA and that of Russia? By your analysis, Russia is suppose to be a better place to live with higher reserve and lesser population. However, that is not the case. It then shows that bigger reserves is really not what makes the difference but how a coutry's wealth is invested.
[/s]

1 Like

Re: Nigeria's Economic Woes- Who Is Responsible? by ivandragon: 8:53am On Oct 16, 2018
mrvitalis:


Why do Americans need reserve when they own the dollar... So an American citizen who wants to import don't need to buy dollar... His local currency is already a world currency accepted anywhere in the world... Same with euros, and pounds... Canada just came out or Are still in resecsion
.obviously you don't understand what foreign reserves are and how they work

so because the US owns the dollar it doesn't trade with other nations right?

or are you one of those who think the US can just print dollars whenever it wants?

the countries I stated were examples, if you can't see beyond that, my apologies.

1 Like

Re: Nigeria's Economic Woes- Who Is Responsible? by mrvitalis(m): 8:55am On Oct 16, 2018
ivandragon:


so because the US owns the dollar it doesn't trade with other nations right?

or are you one of those who think the US can just print dollars whenever it wants?

the countries I stated were examples, if you can't see beyond that, my apologies.

If Toyota and other conpawoukd accept naira why would we have a reserve

Do you even know how reserve works? I don't get

1 Like

Re: Nigeria's Economic Woes- Who Is Responsible? by ivandragon: 9:10am On Oct 16, 2018
mrvitalis:


If Toyota and other conpawoukd accept naira why would we have a reserve

Do you even know how reserve works? I don't get


obviously, you don't... how valuable is your naira that a foreign company would want to accept it wholeheartedly?


1st, foreign reserves can be held in more than one currency... it just so happens that the US dollar is most commonly used & hence kept more by countries...

2nd, in a nutshell, FRs are used majorly to offset liabilities as a result of trade with other nations (domestic businesses also as the need arises which is why you also have local debts) & to borrow which is why countries 'borrow against their reserves'...

3rd, FRs can be used to influence monetary policies when required which is why a country like China can threaten to offload dollars & the US panics... (used also for domestic control, e.g. control inflation, control exchange rates etc )...


FRs have other uses, but the above are the major ones...

so please, enlighten me on your own position on the matter?

1 Like

Re: Nigeria's Economic Woes- Who Is Responsible? by Great2017: 9:18am On Oct 16, 2018
blackpanda:
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[s]

Re: Nigeria's Economic Woes- Who Is Responsible? by jpphilips(m): 12:08pm On Oct 16, 2018
[quote author=Cantonese post=72124745]
Thank God that you clearly informed us that Obasanjo/Atiku did very well between 1999 & 2007 and they saved. At least that is 8 years cut off from the 16 years the APC government accused the PDP of wasting.

Poor reading ability.


Now to the next 8 years ending in 2015. Were you ever informed that current APC ministers who were governors at the time completely disagreed with the president and finance minister regarding saving? The same finance minister served the two governments. Can you remember that Mr. Rotimi Amaechi took the federal government to court? People say the president did not have the political will like Obasanjo. They called Obasanjo 'wicked' while Jonathan was called 'a weakling'. In our country where ethnic sentiments are daily thrown up what could he have done? Governors who decamped from the PDP to the APC cried of marginalization. Today some have returned to the PDP thanking God for their deliverance.

Going by your logic, if Amaechi and other governors had asked Jonathan to submit his wife for sampling, he would have done that right?
Obasanjo was taken to court, so was yaradua, why is Jonathan's case different? read here
http://thenationonlineng.net/excess-crude-account-and-the-controversy-lingers/
Jonathan shared the money because he is a f00l with a Phd.

3 Likes

Re: Nigeria's Economic Woes- Who Is Responsible? by jpphilips(m): 12:24pm On Oct 16, 2018
[quote author=Nbote post=72125122]

Dis govt time and time again implemented, reversed and reviewed various policies as regards d Forex restrictions. Banks, those with connects in d CBN , those in power and those in d corridors of power became overnight billionaires as a result of dat... Form A racketeering became a hit and wen d govt had successfully ruined d little chances d naira had against d dollar, dey loosened d restrictions and all of sudden began flooding d market with d same Forex...

Sanusi made a rhetoric statement and you took it for a fact? is your English that poor? Did Sanusi give you a name of any person that got the so called dollars from heaven? he said, if he wanted, he could, how does that mean he or others are doing it?
Your dollars was restricted because crude shock left you with very little, now that the government has saved $47b in reserves, is your $$ still restricted?


Attacks by d ND Avengers didn't help issues with d FG trying to flex muscles instead of reverting back to d arrangements dey already had with dem... U lots prefer to go analyse other countries forgetting d indices differ.. Anyways wen U grow up and learn to have sense We could engage in proper discourse but for now I'll rather spend my time wisely ATIKULATING than wasting it in mud with U


Niger delta avengers was a no issue, if you noticed, I expunged them from my analysis, here is why;
You were in crude shock from late 2014, Avengers struck in 2016, since 2014, your GDP wasn't showing any growth but retrogression or doldrums meaning you were heading towards recession anyways as a result of crude shock.
If Avengers did not strike, OPEC would have asked you to cut production to boost prices, read:
https://www.bloomberg.com/news/articles/2016-09-28/opec-said-to-agree-on-first-oil-output-cut-in-eight-years
So Avengers or any form of production cut at the time was a non issue.



3 Likes 1 Share

Re: Nigeria's Economic Woes- Who Is Responsible? by jpphilips(m): 2:55pm On Oct 16, 2018
author=ivandragon post=72126118]no need to allow anyone confuse you with skewered analysis...


just do a simple research...

I doubt if you did any


Russia has about $450b in reserves ...


Iran has about $135b in reserves ...


USA has about $123b in reserves ...


Which country here is oil dependent? were you in a hurry to type to read later?


now ask yourself these questions...


1. which of the above countries has the better/best economy?


2. which of the above countries has the better infrastructure?


3. which of the above countries would you become a citizen of if you had a choice?


answer the above questions & you will see how the increased reserves is just much ado about little...



like I always say, increased foreign reserves does not mean much is the face of human per capital development indices & global perceptions. savings does not mean your economy is bouyant... especially when you are borrowing from all angles...


a country might have hundreds of billions in FR but terrible policies & a rudderless socioeconomic plan will make it amount to nought.


its just like a man who lives in a dilapidated duplex with leaking roof, no doors, outdated furniture, an abode for all sorts of vermin, constantly harassed by thieves, has no basic amenities & is constantly borrowing 'toiletries'.. but he then brags that he has millions in his account.


pray tell, what is the essence of having so much money when you live like a tramp?


to put in in perspective, China, Saudi Arabia, Russia, Iran, Mexico & India have much bigger reserves than the US, UK, Canada & some western European nations. yet, the US, UK & Canada have the better economies (relatively) & have more people flocking to them.


in fact, Nigeria has a far bigger reserve than Ghana, yet, Ghana is steadily growing in leaps & bounds while Nigeria is in retrogression.


bottom line is that FR are more 'meaningful' when the economy is buoyant & self sustaining. racing to have huge reserves means your economy is still heavily dependant on others to survive & as such, you must always give them the impression that you have money even when 'hunger wants to kill you'.


having a well oiled economy & average reserves shows that even if the reserves are wiped out, the economy can function well above average because it doesn't need to totally depend on other nations to survive.


This is how you know those people that make F in an exam never mind they answered two pages to the brim. totally off-point!!

2 Likes

Re: Nigeria's Economic Woes- Who Is Responsible? by jpphilips(m): 3:03pm On Oct 16, 2018
Omeokachie:
You applied for a job.

At the interview, you identified the problems and told the panel of interviewers what you would do to salvage the situation and turn things around.

You 'wowed' the panel with your eloquence and acclaimed expertise, track record and knowledge.

6 months into the job, all your feedback was about the problems left by the last employee.

Almost 4yrs later, you are still making excuses about the last employee.

What then happened to all the solutions and your eloquence at the interview?

Reason is....TALK IS CHEAP.
YOU CANNOT GIVE WHAT YOU DON'T HAVE.

Buhari is empty and have nothing to offer. That is the plain truth.

If buhari is empty because he couldn't navigate around crude shock in 2015, then President Nixon is equally empty for not navigating the oil crisis of the 70's right?
Let me shock you, do you know there is no president in an oil dependent economy that has survived crude shock in history without savings, do some reading, do you think Atiku will survive crude shock? grin grin what will he do? privatize Nigeria to Cameroon right? if there was another solution, why did Iweala not use it when Jonathan refused to save? or your Atiku is smarter than Iweala too? Im just looking at economic dumbos littered on this thread!

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Re: Nigeria's Economic Woes- Who Is Responsible? by jpphilips(m): 3:14pm On Oct 16, 2018
ivandragon:


this is the same government that used its own money of over $300m to share to the so called poor & a few days later goes begging for a loan of $300m to execute critical projects that could potentially lead to the creation of millions of jobs... that is just the height of stupid!d!ty & waste.

Abacha loot came with an MOU with Switzerland that says it must be spent on a world bank supervised project else they will not release the money, you don't invite world bank to run errands for you so Nigeria looked for a world bank project already ongoing and invested it there.
That program is called National Social Safety Nets Project.
The loan you want to take from China is for Mambilla power plant, is that power plant a world bank project? why do you think the Abacha loot can finance it? Most of you criticizing this government are dangerously ignorant.

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Re: Nigeria's Economic Woes- Who Is Responsible? by jpphilips(m): 3:21pm On Oct 16, 2018
mrvitalis:


Why do Americans need reserve when they own the dollar... So an American citizen who wants to import don't need to buy dollar... His local currency is already a world currency accepted anywhere in the world... Same with euros, and pounds... Canada just came out or Are still in resecsion
.obviously you don't understand what foreign reserves are and how they work

The young man does not even understand what the thread is all about, just remember him in prayers.

2 Likes

Re: Nigeria's Economic Woes- Who Is Responsible? by kYjelly2: 3:22pm On Oct 16, 2018
jpphilips:
A lot have been said about Buhari, how he brought hardship on Nigerians, how he is responsible for all the suffering in Nigeria, is that theory backed with facts and global economic realities or the shenanigans of few individuals basking in the Euphoria of ignorance?
Since I must make a choice between our present loud political gladiators, I armed myself with Economics textbooks and news archive, here is what i discovered.

...


I hope your choice in NOT APC OR PDP, cause we both know a vote for a either of those two parties is a vote AGAINST the future of Nigeria.

Unless you don't care for a better Nigeria, it seems most Nigerians dont.
Re: Nigeria's Economic Woes- Who Is Responsible? by jpphilips(m): 3:25pm On Oct 16, 2018
Great2017:
What is more important that would add value to the lives of people are investment in basic infrastructures and easy access to basic amenities. A very big reserve will never translate to the afore-mentioned except it is appropriately channelled to meet these gaps.

What is a foreign reserve?
What does it do for oil dependent economies?
How is it financed and utilized?

If you do not have the correct answers to these questions or you need Google to get a clue, my dear, you dont belong to this thread, you should be checking up on Davido & Chioma.

2 Likes

Re: Nigeria's Economic Woes- Who Is Responsible? by jpphilips(m): 3:27pm On Oct 16, 2018
ivandragon:


so because the US owns the dollar it doesn't trade with other nations right?

or are you one of those who think the US can just print dollars whenever it wants?

the countries I stated were examples, if you can't see beyond that, my apologies.

grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin
grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin
grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin gringrin grin grin

This is the dumbest statement on this thread, therefore, i confer on you the ...............of.............

4 Likes 1 Share

Re: Nigeria's Economic Woes- Who Is Responsible? by Omeokachie: 3:33pm On Oct 16, 2018
jpphilips:


If buhari is empty because he couldn't navigate around crude shock in 2015, then President Nixon is equally empty for not navigating the oil crisis of the 70's right?
Let me shock you, do you know there is no president in an oil dependent economy that has survived crude shock in history, do some reading, do you think Atiku will survive crude shock? grin grin what will he do? privatize Nigeria to Yaounde right? if there was another solution, why did Iweala not use it when Jonathan refused to save? or your Atiku is smarter than Iweala too? Im just looking at economic dumbos littered on this thread!


Shock me president 'Iran Contra' Nixon grin
Oil shock tied down Buhari from addressing the herdsmen crisis too?
Oh, no it stopped him from making a single arrest because Ghadaffi asked him to blame Libyans. wink
Ok, so the diversified economy which we were told would fund government without oil was all a ruse right? cheesy
Nixon would have taken over 6months to put a team together in an emergency. grin
Now they blame "oil shock" for their incompetence. grin

Yeye ass lickers roaming NL trying to to sound intelligent grin

2 Likes

Re: Nigeria's Economic Woes- Who Is Responsible? by Babacele: 3:39pm On Oct 16, 2018
jpphilips:


What is a foreign reserve?
What does it do for oil dependent economies?
How is it financed and utilized?

If you do not have the correct answers to these questions or you need Google to get a clue, my dear, you dont belong to this thread, you should be checking up on Davido & Chioma.
hahahahaha........Davido n Chioma indeed! Yeeeeee!

1 Like

Re: Nigeria's Economic Woes- Who Is Responsible? by jpphilips(m): 3:40pm On Oct 16, 2018
ivandragon:



obviously, you don't... how valuable is your naira that a foreign company would want to accept it wholeheartedly?


1st, foreign reserves can be held in more than one currency... it just so happens that the US dollar is most commonly used & hence kept more by countries...

2nd, in a nutshell, FRs are used majorly to offset liabilities as a result of trade with other nations (domestic businesses also as the need arises which is why you also have local debts) & to borrow which is why countries 'borrow against their reserves'...

3rd, FRs can be used to influence monetary policies when required which is why a country like China can threaten to offload dollars & the US panics... (used also for domestic control, e.g. control inflation, control exchange rates etc )...


FRs have other uses, but the above are the major ones...

so please, enlighten me on your own position on the matter?

Thank God for a quick google search now go back and read the original post, then delete all those ignorant posts you made.

2 Likes

Re: Nigeria's Economic Woes- Who Is Responsible? by jpphilips(m): 3:47pm On Oct 16, 2018
kYjelly2:


I hope your choice in NOT APC OR PDP, cause we both know a vote for a either of those two parties is a vote AGAINST the future of Nigeria.

Unless you don't care for a better Nigeria, it seems most Nigerians dont.

You know that making political choices is pretty difficult in Africa, reason why you have a group of urchins, shouting Hausa-Fulani for 3yrs, threatened to leave the country, the moment same Hausa Fuani dangled $$ and VP position, Hausa fulani became saints, "Biafla" & "lefelendum" died a natural death, imagine if they took their stupidity to the UN, how will they be viewed in the committee of serious nations? i forsee a Biafra amnesty in the future. grin grin

3 Likes

Re: Nigeria's Economic Woes- Who Is Responsible? by theoldpretender(m): 3:51pm On Oct 16, 2018
Omeokachie:



Shock me president 'Iran Contra' Nixon grin
Oil shock tied down Buhari from addressing the herdsmen crisis too?
Oh, no it stopped him from making a single arrest because Ghadaffi asked him to blame Libyans. wink
Ok, so the diversified economy which we were told would fund government without oil was all a ruse right? cheesy
Nixon would have taken over 6months to put a team together in an emergency. grin
Now they blame "oil shock" for their incompetence. grin

Yeye ass lickers roaming NL trying to to sound intelligent grin

1.Iran Contra happened under Reagan.....

2.Yes, it took APC 6 months to put together a team, and the truth is, their management of the economy, savings aside...has been poor

(We continue to spend millions under the name of Subsidy ....which is a waste...but if we removed it, fuel will go up).

Havign said that....the guy you quoted is right. And even if Bubu had appointed an economic team immediately....thigs won't have gotten better so long as the forex reserve was low.

In my honest opinion, we need to remove subsides and focus on fixing power. Things would be much harder...but benefits will kick in after ten years.

I won't be voting for APC or for PDP though....both parties don't have an idea beyond savings of what to do next.

1 Like

Re: Nigeria's Economic Woes- Who Is Responsible? by jpphilips(m): 3:58pm On Oct 16, 2018
author=Omeokachie post=72141652]



Oil shock tied down Buhari from addressing the herdsmen crisis too?

How did you know he didn't address it? does operation Sharan Daji & Operation Whirl stroke ring a bell?

Oh, no it stopped him from making a single arrest because Ghadaffi asked him to blame Libyans. wink

Talking through the arse isn't the best form of communication, it feels like piss, Puke & lies
http://dailypost.ng/2018/08/20/nigerian-troops-kill-21-herdsmen-benue/
http://dailypost.ng/2018/05/21/nigerian-troops-kill-35-herdsmen-benue/
https://www.pulse.ng/news/local/soldiers-kill-6-herdsmen-150-cows-in-nasarawa-police-id8551889.html
https://www.blueprint.ng/soldiers-kill-30-fulani-herdsmen-in-nasarawa/

Doesn't look like nothing was done to me, except of course those too ignorant to notice.



Ok, so the diversified economy which we were told would fund government without oil was all a ruse right? cheesy

When is the best time to make more investments? in hunger or in plenty?



Nixon would have taken over 6months to put a team together in an emergency. grin

What has putting together a team have to do with your economy? please dont regurgitate the nonsense spewed by the appointment hunters at the time.



Yeye ass lickers roaming NL trying to to sound intelligent grin

Imagine if you sounded half intelligent, the heavens would have fallen on your thigh grin grin

3 Likes

Re: Nigeria's Economic Woes- Who Is Responsible? by Ovamboland(m): 4:10pm On Oct 16, 2018
Nbote:
Current economic woes shld be blamed on d current leadership of d nation... We like to conveniently shift blames and shelve responsibilities instead of facing reality... D ill adviced and ill thought economic policies d govt came up with succeeded in driving dis nation headlong into misery with their confused and baffling Forex restrictions successfully driving dollar to an all time high.. D naira weaker against d dollar not becos of any previous actions of previous govts but becos of d singular inexplicable action of d govt in restricting access to Forex in an economy dat depends on Forex exchange to survive...
D govt has made it a point of duty to continually blame corruption and previous govts saving culture for d recession in d land but dat is absolutely bollocks.. D question we all should b asking is what did d govt do about d economy, what have d govt been doing about it and what are d plans for it...? Dis same govt blamed d previous govts for overdependence on oil but yet has spent billions since it came on board to look for more oil where it doesn't exist.. Dis same govt claims d previous govt didn't save enough but have succeeded in driving us into d deepest part of debts while claiming to b saving... Who is fooling who exactly? For those of U who would want to justify d loans taken so far with infrastructure, can U please point to d infrastructural developments U feel accounts for those loans??

If they don't restrict the forex, where would they find dollars to back up the demand without letting the currency collapse?

1 Like

Re: Nigeria's Economic Woes- Who Is Responsible? by ivandragon: 4:13pm On Oct 16, 2018
jpphilips:


Thank God for a quick google search now go back and read the original post, then delete all those ignorant posts you made.


you made about 4 responses to my posts & you managed to not make sense in anyone.


clap for yourself...
Re: Nigeria's Economic Woes- Who Is Responsible? by Yyeske(m): 4:23pm On Oct 16, 2018
mrvitalis:


Why do Americans need reserve when they own the dollar... So an American citizen who wants to import don't need to buy dollar... His local currency is already a world currency accepted anywhere in the world... Same with euros, and pounds... Canada just came out or Are still in resecsion
.obviously you don't understand what foreign reserves are and how they work
I was about lecturing the poster you quoted about 'reserve currencies' in the world and why countries with such currencies don't need unnecessary huge foreign reserves but you helped a bit, hope he understood at least to the level you told him.
Re: Nigeria's Economic Woes- Who Is Responsible? by Omeokachie: 4:23pm On Oct 16, 2018
jpphilips:
author=Omeokachie post=72141652]





How did you know he didn't address it? does operation Sharan Daji & Operation Whirl stroke ring a bell?



Talking through the arse isn't the best form of communication, it feels like piss, Puke & lies
http://dailypost.ng/2018/08/20/nigerian-troops-kill-21-herdsmen-benue/
http://dailypost.ng/2018/05/21/nigerian-troops-kill-35-herdsmen-benue/
https://www.pulse.ng/news/local/soldiers-kill-6-herdsmen-150-cows-in-nasarawa-police-id8551889.html
https://www.blueprint.ng/soldiers-kill-30-fulani-herdsmen-in-nasarawa/

Doesn't look like nothing was done to me, except of course those too ignorant to notice.


[We read all these in the papers but no pictures of said massacres. grin
Dapchi happened in 2003 right? cheesy
Propaganda can't defeat insurgency..."technically or otherwise" grin
Two Aid workers killed already while others are in captivity, and guess what? They were captured from a military facility by the "defeated" terrorists.



When is the best time to make more investments? in hunger or in plenty?


Name those investments made by this government in the last 3yrs. angry

https://www.pulse.ng/news/local/cbn-says-nigeria-s-economy-may-slip-into-recession-id8903571.html

I guess we can blame this on "Oil shock" right? wink



What has putting together a team have to do with your economy? please dont regurgitate the nonsense spewed by the appointment hunters at the time.


Buhari is an economist, so he can run government all by himself right? Same man that was mentioning French Franc and German Marks in 2015 oblivious of the fact that Euro is now the currency in these countries grin


Imagine if you sounded half intelligent, the heavens would have fallen on your thigh grin grin

Heavens fell on your laps reason you walk like one with polio cheesy
Re: Nigeria's Economic Woes- Who Is Responsible? by Great2017: 4:28pm On Oct 16, 2018
jpphilips:


What is a foreign reserve?
What does it do for oil dependent economies?
How is it financed and utilized?

If you do not have the correct answers to these questions or you need Google to get a clue, my dear, you dont belong to this thread, you should be checking up on Davido & Chioma.

Read my comment again and if you still cannot comprehend what makes more impact, then, you should be checking up on " Tom and Jerry " cartoons like your lifeless paymaster.
Re: Nigeria's Economic Woes- Who Is Responsible? by Yyeske(m): 4:30pm On Oct 16, 2018
ivandragon:


so because the US owns the dollar it doesn't trade with other nations right?

or are you one of those who think the US can just print dollars whenever it wants?

the countries I stated were examples, if you can't see beyond that, my apologies.
Yes, the US does that from time to time and exports inflation all over the world because much of world trade is in American dollars, same goes for other reserve currencies like the Japanese yen, Euro, pounds sterling etc and this is one of the reasons they can afford to keep low foreign reserves despite accumulating foreign debts with other countries because of their perennial trade deficits.
Re: Nigeria's Economic Woes- Who Is Responsible? by ivandragon: 4:48pm On Oct 16, 2018
Yyeske:
Yes, the US does that from time to time and exports inflation all over the world because much of world trade is in American dollars, same goes for other reserve currencies like the Japanese yen, Euro, pounds sterling etc and this is one of the reasons they can afford to keep low foreign reserves despite accumulating foreign debts with other countries because of their perennial trade deficits.


every country prints money on a regular basis, but in the context of my discussion with the other chap, the US cannot just print its way out of debt or trade payments.


if that was possible, why would the US even owe any nation?


why not just print money to pay for transactions?


https://www.businessinsider.com/why-its-absurd-when-people-say-well-the-us-can-always-print-its-way-out-of-debt-2011-8


https://www.businessinsider.com/donald-trump-default-print-money-2016-5


besides, 'it costs money to print money'.


just saw your post to the other chap on lecturing me about the subject matter... hilarious...


well, if you want to do that, I hope you are well grounded on the matter.
Re: Nigeria's Economic Woes- Who Is Responsible? by jpphilips(m): 4:50pm On Oct 16, 2018
Omeokachie:


Heavens fell on your laps reason you walk like one with polio cheesy

You cant even quote a post properly, same person that said Buhari is dumb

1 Like

Re: Nigeria's Economic Woes- Who Is Responsible? by mrvitalis(m): 4:52pm On Oct 16, 2018
Yyeske:
I was about lecturing the poster you quoted about 'reserve currencies' in the world and why countries with such currencies don't need unnecessary huge foreign reserves but you helped a bit, hope he understood at least to the level you told him.
Nah he didn't
Re: Nigeria's Economic Woes- Who Is Responsible? by Yyeske(m): 4:59pm On Oct 16, 2018
ivandragon:



every country prints money on a regular basis, but in the context of my discussion with the other chap, the US cannot just print its way out of debt or trade payments.


if that was possible, why would the US even owe any nation?


why not just print money to pay for transactions?


https://www.businessinsider.com/why-its-absurd-when-people-say-well-the-us-can-always-print-its-way-out-of-debt-2011-8


https://www.businessinsider.com/donald-trump-default-print-money-2016-5


besides, 'it costs money to print money'.


just saw your post to the other chap on lecturing me about the subject matter... hilarious...


well, if you want to do that, I hope you are well grounded on the matter.

Go read about reserve currencies and why most countries having that leverage don't necessarily need reserves like Nigeria even when they've been having trade deficits for decades while keeping strong currencies.

You need to go through the links you provided but this time, slowly and carefully to actually understand that the US can print her currency to offset her deficit but equally have other options if she so wishes.

http://claudiograss.ch/2016/06/08/united-states-exports-inflation/

Read that too.
Re: Nigeria's Economic Woes- Who Is Responsible? by Omeokachie: 5:00pm On Oct 16, 2018
jpphilips:


You can even quote a post properly, same person that said Buhari is dumb


It is 'can't' my boy.
Re: Nigeria's Economic Woes- Who Is Responsible? by ivandragon: 6:57pm On Oct 16, 2018
Yyeske:
Go read about reserve currencies and why most countries having that leverage don't necessarily need reserves like Nigeria even when they've been having trade deficits for decades while keeping strong currencies.

You need to go through the links you provided but this time, slowly and carefully to actually understand that the US can print her currency to offset her deficit but equally have other options if she so wishes.

http://claudiograss.ch/2016/06/08/united-states-exports-inflation/

Read that too.


lol...

you obviously read just the first part of the link I sent to you.

if you had read it in full, you would understand the repercussions of just printing money.


once again, I ask, why is the US still owing over $15t in debt if it can just print its own currency anyhow?


well, to each, his own.

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