dele1727:


Most of the world economy is based on Credit...infact the paper you call money is actually credit note with CBN promising to settle it with another transaction...

The vulcanizer collect the credit note for service rendered and the gives the rice seller for goods sold and now the credit note is with the rice seller.


During recessions...
The CBN/Government help by
1 Reduce the lending rate
2, Print more bills.. Thereby flooding the market with more credit
3, reducing Taxes...

Please let us ask questions before we talk

You are yet to answer my question.
Flooding the market with credits is not the problem. Where there is oversupply of credits chasing limited resources it leads to and increase in price, that the root of the problem or you want to deny that importation, production n services is low at this point in time?

All is no lost yet my brother, printing money is not an option at this time.

Oshigun:


You are the one who is not wise. Tinubu is suggesting that this is a legitimate option. World class economists happen to agree with him and not you isale Eko experts. Are you talking of inflation when we are discussing a pandemic that could render money worthless and people scavenging in the streets for food if the worst happens?

When all is lost, printing money is an option because it directly puts money, as legal tender , in the hands of people to acquire what they need urgently.

At that stage, protecting the value of money is pointless because if people do not get it to spend then they would simple get into beast mode and take to the streets to violently and forcefully commandeer what they need.

Let us see what will happen if area boys have no food and no money to buy their way out of hunger. We will see what your focus on inflation will be worth then.

The question is spend more on what? Who's producing the goods n providing the services in Nigeria at this time All the extra money will end up chasing a limit qty of goods n services thus driving the prices even higher.

Our economy is still largely import dependent so all d printed cash will still b exchanged for the USD in other to bring in supplies.

Printing money may work in the US but it wont work here.

Oshigun:


Bruv, read three pages of this thread and I am still shocked and shaking head at how it is terribly ignorant posters hurling the most vitriolic insults. The lack of humility of Nigerians on show here is amazing and scary because it indicates we have a nation full of hateful and 'lynch mob' ignoramuses rather than solutions providers.

What Tinubu is suggesting is a form of financial easing available to Central banks, as one of the last resorts for situation like this, called "Helicopter money".

Even a minute of research would have cured many of there ignorance. Yet once Tinubu speaks many, especially from the SE, just rush blindly to say the opposite and insult Asiwaju.

Many should put aside hate and objectively read the summarized article below specifically about economic stimulus options that can ease the havoc Covid-19 is capable of wreaking.

It will become immediately clear why Asiwaju, far ahead of his peers, should be President and that it is only hate preventing some from seeeing/accepting this. I pity Nigeria and Nigerians sha.


https://www.google.com/amp/s/www.cnbc.com/amp/2020/03/17/coronavirus-how-much-firepower-central-banks-have.html

MT:


While i wont dismiss what you wrote because like I said , it's not my turf, but your submission raises more questions than it answers. Are you implying that the entire world financial institutions and regulatory bodies have accepted that the US could just print money arbitrarily to save her economy anytime there is a crisis just because the dollars is the defacto global currency. If this is acceptable, then there is no need for the US to want to industrialise the country as they can just snap their fingers and ask the central bank to print more dollars. Infact they should not be in competition with China as they can easily print more dollars. Please I will like you or any other economists here to shed more lights. Thanks for your contributions as I just want to learn something very new.

Again this comes down to supply and demand. The US understand the scope n international value of their currency so there is a limit to which they can keep printing the $$$ but they have far far more leverage than the naira.

Secondly the US as a country is way more self sufficient (they have an internal economy) whereas the naira we print will still have to be exchanged for the $$$ to bring in the supplies we need from overseas.

Just because a well grounded economy decides to overprint does not mean a weak dying economy should follow suit. Overprinting will do us far more harm than good.

dele1727:




Majority of you people don't know how the economy work.
Inflation is caused by too much money in the economy..


So where is the money now?
Where are the buyers?
Where are the sellers?


Listen and think objectively
Leave the hate

If printing the naira brings the money n the buyers, where are the goods n who's providing the services in times like this?

MT:
I really need to know as this is not my turf. Why does the the US get away with printing more dollars to save her economy?. Do the laws of micro economic not applicable to US in this case? . Please I will need to be genuinely educated in this area.

I have not heard such a thing as oversupply of $$$ because the $$$ is the defacto currency of the world. Inter-country trade deals n other foreign investments are settled with the $$$ so it will always be in demand irrespective of the supply. However, thesame cannot be said of the naira...

Ojiofor:


But Oyibo jailed and exiled your Oba to Calabar and nothing happen.

Onyibo witch is another level man!

[quote author=Bashirjaja01 post=87305073][/quote]

They both have zero political clout. The combo, though fantastic on paper, would turn out to be a disaster in practice.

Herdsmen:


Make them get crazy men governors who no like their face.

Dia matter na small

Governor go sleep e no go wake up d next day.
Jazz pass naija politics.

TheGiftedOne:
Good. Could a law prohibiting the entrance of Chinese Nationals into the country be enacted to forestall any possibility of further outbreak for now?

It is now a global pandemic so this is not going to work. Afterall the guy who tested positive is Italian.

recievesense:
did u read the article?

He obviously didnt. By their comments you shall know them...

Dizzyrascal:
I dey tell you!!!....in the first place how can everybody from the same village be considered brothers and sisters

Dont mind them. Wan use dia own spoil oir own...

I concur.

AWFCNAIJA:


This is a lie... Too long told that it has led many into unhappy unions and marriages devoid of love.

Love is and will continue to be the bed and sustaining rock of any marital Union till the end of time.

In my church i cant count the no of couples who went against tradition and their family's personal interest yet remain happily married to this day.

Infact my friend's Dad wrote our church not to join his son with his girlfriend (now wife) with threats. Today they are still happily married with a son.

The moral of the story is this- Once God is involved, tradition and everything else does not matter.

72Morale:
No matter how stubborn and wise you think you are; Don't ever go against tradition and against your family wishes once it has to do with marriage.

Love isn't even one of the top 5 things to consider in marriage because it's just a self-deceptive word that does not contribute anything to a marriage.

From my experience as a recruiter, a lot of Nigerian graduates are unemployable. Our educational system is sh***t. The moment he proposed this for qualified graduants I 100% agree it is possible.

At the state and federal lvl there are a lot of ministries and parastatals that can absorb qualified employable graduates yearly.

The idea is very viable...

Tunar18:
You kept repeating this despite that people are Ignoring

For your Information, I read the whole article. Just ask yourself who would not be interested in joining the military/paramilitary with their new juicy pay. Before you say those that are qualified coz I think that's all you have to say.

When there is certainty that you will get the job after graduation, you would realize that there are so many graduates in this same country that are very sound and are even over qualify and are even interested even those that never dreamt of joining any force. In addition to that, with the number of graduates NYSC is rolling out every year, we will all see a force tripling it's population under 10years.

Mind you a government that could not generalize a minimum wage of 30k across all grade level (only a consequential adjustment from GL. 07) does not have the facility to absorb that large population. If you think they do, let me hear in factual terms

The Govt cannot d everything for u man. If after 3yrs of experience in the labour market you cannot makr the next move yourself then it is your problem.

The hardest part of getting a job in Nigeria is when you are fresh out of school. As you gain experience it becomes easier to find another job and this is based on personal experience.

OnpointDesign:


Yeah and then 3 years down the line, you'll notice that the Government had no better plan. that the 30k was their only plan all along.

It's hard enough getting a job when you're not working. Then imagine how it'd be when you're trying to get a job but then the Government tells you that you already have one.

As you are aware, the Federal and state governments have a lot of ministries, agencies and so on.

I see no reason why this cannot be done once a year to accomodate graudates who "qualify".

Be optimistic man...

voltron14:


As noble as it sounds, employment is always based on availability not only ability.

Kindly read the article again.
At no point did he say all graduates will be employed. He said there would be screening and suitable candidates will be selected.

It might interest you to know that alot of Nigerian graduates are not employable..

seborrhic:

When someone doesn't know how employment comes about.When someone doesn't know why goverment,even in core socialist countries cannot employ every graduate.
When someone doesn't know that goverment employment of all graduates, certainly impossible,but even if hypothetically possible,will stifle creativity,productiveness and innovation,then that person is a dimwit.
The most advanced countries in the world cannot employ all graduates.
The most advanced communist country, China,cannot.
So what is the dimwit proposing,rubbish!
It's like a country printing currency during inflation so that everyone can have money to spend;the height of foolishness that even primary school people now know.
Are u supporting the dimwit's proposal?

First you explain why you believe it is practically impossible.

Before you respond I suggest you read the article again to be sure you understand the proposal.

Tunar18:
A PDP legislooter sponsoring this kind of unrealistic bill being an opposition should signal two things

1. To berate the Government coz obviously he knew before pronouncing it that it is practically impossible

2. To gain cheap popularity

It's normal in politics - you will only understand if you are not a zombie and I support the motion kind of student of politics.

If the PDP were to be in government too - seeing an APC legislooter proposing that NIGERIA should make US/Canada Visa free for all would not be a surprise. All these are part of the game of bitter politics we play in Nigeria.

Simply put, THAT PROPOSAL IS PRACTICALLY IMPOSSIBLE

However, If you are very sound and vibrant and believe it to be realistic, I challenge you to a debate with reasonable statistics.

At no point did he mention that every graduate will be employed. He said graduates will be screened and employed based on their suitability.

What most pple dont know is that alot of Nigerian graduates are not employable.

voltron14:


Where would the money come from?

The state cannot afford employing every graduate.

It takes creativity from the populace to produce goods and services which in turn create opportunities for others.

Can you explain why you believe it id borne out of illiteracy? Let's learn...

seborrhic:
When records are taken,this one too would be counted as having raised a bill in the HOR.
This bill is borne out of illiteracy and the childish aim to also have his name as one of the contributors on the floor of the house.
Dimwit.

Alot of graduates today dont even earn up to 30k.
They could take this first job as a gateway to the labour market proper.

Be positive.

OnpointDesign:

kam nukwa.

If the bill passes, I'm sure they won't exceed the 30k minimum salary.
M sure.

If you sincerely believe PDP is fundamentally different from APC then you are deluded.

post=86846584:

Good initiative.

We won't like to say more than this for now,
no need going back to the wasted 16 years of locust in our darling country.
Had it been this thieving party started this then,
perhaps......

Obviously not everyone would be employed. There will be a screening process to pick the ideal candidates.

itsme01:
600,000 frsh graduate being recruited yearly into the civil service... my question is what exactly is civil servants producing to support our GDP or we just want everyone to earn from the tiny oil revenue

Sound! This man is thinking well..

Islie:


https://www.thecable.ng/pdp-rep-introduces-bill-on-automatic-employment-for-graduates-after-nysc