uche92:
There are a lot of quack “economists “ in this thread starting with this fella. GDP and external debt are two different macroeconomic figures of metric. One is a stick variable and the other is a flow variable. They are used in tandem and not for economic comparison

is it advised for a country to engage in printing of cash as a means of generating revenue??

That's the bone of contention here.

Though, I'm not an economist as I stated earlier but encountered it in my early years in the university. Just that I'm good at what I do.
None of my course mates(QUS) can remember 2/10 of what I just stated up there.

I don't know why people pride themselves that they don't owe any body a dime.. So a man that earns 50 salary and isn't owing anyone a dime is now better than Dangote that's owing billions of dollars?

Czario:


A lot of billionaires are just fortunate slaves actually

But ask yourself, would you want to be a slave billionaire like Dangote who owes billions of dollars or you'd want to be a non slave poor man who owes nobody nothing?

skj1377:
He borrowed more than his networth to finance a business and you think that is smart. Another delay due to war and that project will consume all his wealth. Banks Dont care why you can't repay your loan even if it's obvious. .

That's what risk is..

Can you call yourself smarter than Dangote cos you haven't borrowed more money than your worth of a business that if it claims will make you 50 times richer?

Johnboom:
You don't understand simple Economics, Nigeria is the owner of Naira, how come they don't print it , convert it to Dollar and pay her debit.

Because then the value of naira will go down! Law of demand and supply at play. But if Nigeria prints naira to give to local producers who will only use locally sourced raw materials and then export the finished goods it will have the opposite effect especially if the exported goods was paid for with dollars.

I know it's a little complex to decipher but you can do more research. Dollars being the base currency of international trade confers so many privileges on the United states that most other countries do not have.

The man described by pastor Oyedepo in this post is definitely not a billionaire, as he is surely insolvent.
It is very clear that the man's financial acid-test (quick ratio) is less than 1, in fact it's about 0.1. This man should best be said to be bankrupt.
But in a society like ours where accountability doesn't matter much, such a man will be living a fake billionaire's life style.
A list of AMCOM's debtors will show you names of pseudo billionaires in Nigeria.

There are a number of reasons why the US can accumulate debt to this extent:

1. Their interest rates are low and their GDP growth rate is high which means that they can keep their debt to GDP ratio at least constant or reducing. What this mean in essence is that they are easily able to refinance their debts.

2. The US serves as a global banker to the world. A major reason the US has a trade deficit is because investors from all parts of the world are the US financial and stock markets as secure and with very high ROIs and so this means they keep pouring money and investments into the Us economy which results in the negative trade deficit. The US takes that debt liability from other emerging and developed markets and turns it into riskier equity asset investments in less developing countries. Some times it works out and some times it doesn’t. Overall new investment means capital growth and returns which goes back to finance debt and grow the economy.

3. The US dollar is the main fiat currency used as a transactional basis in all markets around the world. This means that when the dollar depreciates, their debt becomes cheap and they can more easily refinance that but vice versa when the dollar appreciates, you can think of it as transferring wealth to their creditors.

Just like any corporation, country or bank runs a balance sheet where assets = liability + equity, the US is able to do the same using low equity to create growth and finance their liabilities by using sound strategic economic and investing policies

DamnnNiggarr:
is it advised for a country to engage in printing of cash as a means of generating revenue??

That's the bone of contention here.

Though, I'm not an economist as I stated earlier but encountered it in my early years in the university. Just that I'm good at what I do.
None of my course mates(QUS) can remember 2/10 of what I just stated up there.

DamnnNiggarr:


Just like USA with a GDP worth of $24 trillion(2021 estimate) but has a gross external debt of over $21 trillion.

Imagine a country that has annual expenditure of $7 trillion but with annual revenue of $3.4 trillion.

If not that Nigeria's government is not transparent, Nigeria would've been one of the richest country in the world with an annual expenditure of $30 billion and annual revenue of over $50 billion.


I'm not too good in economics but with the knowledge I got in eco101, 102, I can unequivocally tell you that Printing more money doesn’t increase economic output – it only increases the amount of cash circulating in the economy. If more money is printed, consumers are able to demand more goods, but if firms have still the same amount of goods, they will respond by putting up prices. In a simplified model, printing money will just cause inflation.

*Suppose an economy produces $10 million worth of goods; e.g. 1 million books at $10 each. At this time the money supply will be $10 million.

*If the government doubled the money supply, we would still have 1 million books, but people have more money. Demand for books would rise, and in response to higher demand, firms would push up prices.

*The most likely scenario is that if the money supply were doubled, we would have 1 million books sold at $20. The economy is now worth $20 million rather than $10 million. But, the number of goods is exactly the same.

*We can say that the increase in GDP is a money illusion. – True you have more money, but if everything is more expensive, you are not any better off.

*In this simple model, printing more money has made goods more expensive, but hasn’t changed the quantity of goods.

So Mr huptin, why can't Nigeria just print ₦aira to tackle Nigeria's economic mess? Nah! It doesn't work that way.
If only 20 bags of rice is produced in your location, assuming only only 5 people are able to purchase a bag at say 20k out of 100 person's due to lack of money and the government decides to print more money to be in circulation in the economy, and about 50 person's now have cash, now what will happen is that, more people now have cash and it's still 20 bags of rice that is being produced which will lead to high demand for a bag of rice.
Do you know what the producers will do? They will respond by doubling the price of a bag of rice.
I hope it's clear now.

You are so detailed and explicit in your explanation....thanks so much

DamnnNiggarr:


Just like USA with a GDP worth of $24 trillion(2021 estimate) but has a gross external debt of over $21 trillion.

Imagine a country that has annual expenditure of $7 trillion but with annual revenue of $3.4 trillion.

If not that Nigeria's government is not transparent, Nigeria would've been one of the richest country in the world with an annual expenditure of $30 billion and annual revenue of over $50 billion.


I'm not too good in economics but with the knowledge I got in eco101, 102, I can unequivocally tell you that Printing more money doesn’t increase economic output – it only increases the amount of cash circulating in the economy. If more money is printed, consumers are able to demand more goods, but if firms have still the same amount of goods, they will respond by putting up prices. In a simplified model, printing money will just cause inflation.

*Suppose an economy produces $10 million worth of goods; e.g. 1 million books at $10 each. At this time the money supply will be $10 million.

*If the government doubled the money supply, we would still have 1 million books, but people have more money. Demand for books would rise, and in response to higher demand, firms would push up prices.

*The most likely scenario is that if the money supply were doubled, we would have 1 million books sold at $20. The economy is now worth $20 million rather than $10 million. But, the number of goods is exactly the same.

*We can say that the increase in GDP is a money illusion. – True you have more money, but if everything is more expensive, you are not any better off.

*In this simple model, printing more money has made goods more expensive, but hasn’t changed the quantity of goods.

So Mr huptin, why can't Nigeria just print ₦aira to tackle Nigeria's economic mess? Nah! It doesn't work that way.
If only 20 bags of rice is produced in your location, assuming only only 5 people are able to purchase a bag at say 20k out of 100 person's due to lack of money and the government decides to print more money to be in circulation in the economy, and about 50 person's now have cash, now what will happen is that, more people now have cash and it's still 20 bags of rice that is being produced which will lead to high demand for a bag of rice.
Do you know what the producers will do? They will respond by doubling the price of a bag of rice.
I hope it's clear now.

I understand you very well but what if after the govt pumped more money into the system, it produces more producers who now produce more books or bags of rice etc Is that not a boost to the economy?

FalseProphet1:
Daddy Oyedepo is absolutely right.

If you subtract all the loans dangote is owing various banks both locally and international from his networth, dangote won't even make it to 1st 100 richest people in Africa.

This I have seen.

That is not Mr Dangote owing the banks, it's Dangote Group of companies that is owing.

His company is different from him.

Amotolongbo:
So you could be so low in IQ to decipher that the refinery wasn’t financed solely by Dangote from the post or you just willingly wanna act a buffoon!

And u who is well educated can go look at Info's that is in public domain to know that dangote is not the sole financier of it what a shame to your knowledge ..a disaster to whoever taught you and brought u up

JohnSP99:

you people don't just have sense was he talking about people borrowing to do business, or those borrowing to live a big man life, olorun mofos full this nairaland.

Let me ask u dat have sense! Those that borrowed billions in bank did they borrowed it to live a flashy life? Without investing or going into business?

How is it possible for bank to borrow you 10billions naira without showing proof of what u want to do and if it will be beneficial to you in order to pay back the loan?

Maybe you should try and go to the bank to borrow loan so dat u will know how is done.

People borrowed loan to invest in a business not to live a lavish life. It is when the business goes wrong dats when the bank comes looking for their money.

I thought u were educated? But it seems you and your Papa are just not educated at all. And you know what ur papa says is not even possible accordingly to ur analogy.

Well I will not blame you nor your Papa Dangote is borrowing to build a refinery's dat is far what is net Worth. So Dangote is owning bank alot of billions of dollars that is more than is net Worth so is Dangote a foolish man?

Even in his debt he is still richer than your Papa in billions of dollars so your Papa is the one that is foolish because innocent people and the gullible ones like you made him to be Rich today, not hardwork or bank loan but fraud using the name of our God.

Popjoan1:
lol,seems your also a "preacher" like him,but a poorer version,when your Messiah was born,he received gifts from the three wise men right,why didn't he reject it? And point of correction,we don't share the same faith/religion.

You speak like the Muslim you are! My Messiah birth was base on prophecy and also he was a little baby when the gift was presented to Him. How can you be so dumb to expect a baby to reject or even accept the gifts?

What part of religion allowed a baby to accept and received gifts? When you are a baby did u know those who came to give your sorry ass diaper? Why didn't you reject it den?

Sometimes foolishness is not about doing foolish things but some questions and reasoning sound foolish especially when is coming from someone like you.

Dangote and Tunde bakare hope you are listening

emmaodet:


I understand you very well but what if after the govt pumped more money into the system, it produces more producers who now produce more books or bags of rice etc Is that not a boost to the economy?

If those goods are going to the international market it will earn more dollars, which can then be channelled into either procuring the equipments or machineries needed to produce the other goods or if you prefer the lazy way out, simply import them.

FalseProphet1:
Daddy Oyedepo is absolutely right.

If you subtract all the loans dangote is owing various banks both locally and international from his networth, dangote won't even make it to 1st 100 richest people in Africa.

This I have seen.

because na food e use the money chop abi.

BluntTheApostle:


This one is never passionate about winning souls, but expanding his business.

All his messages are always about making money. And he is very boastful, always talking about how far he has come (materially) from when God purportedly gave him the vision in 1981.

How can you say he's not passionate about winning souls? What do you know?

Winners' Chapel is one of the most deliberate pentecostal churches when it comes to soul winning, and evangelism.

And about the other aspect, he's not boastful, your perspective of his intentions is simply different.

He's painting his life example as a demonstration of what God can do... unequivocal faith in God.

He talks about his health challenge... his wife's health challenge... and how God came through.

He talks about days when he was a dedicated disciple of Hagin and Copeland...

The days when the church had but 4 members...

But it's only the talks of wealth you remember.

Why?

Olaideolayemi:
I think, you're a novice,Y a person borrowing loan is better than we?Do you know,what it takes to borrowed a loan in bank?..please don't compare..very big difference..

Huncle, happiness goes beyond having lots of money in one's account. Happiness truly comes when you have peace of mind.

If you are owing banks millions of naira and they are calling you every day to ask for their money, sleep will elude you.

Yes, we don't have a lot, but we are better than those people because we have peace of mind.

Perfectbeing:
But ask yourself, would you want to be a slave billionaire like Dangote who owes billions of dollars or you'd want to be a non slave poor man who owes nobody nothing?

Of course everyone would like a huge networth on paper that affords them almost unlimited lines of credit. That alone is a rare kind of freedom.

Dat one is a normal something,it depends on where the u put the money, for example the dangote u people use for example that refinary is a borrowed money by the time it started yielding return

Kay25:

And u who is well educated can go look at Info's that is in public domain to know that dangote is not the sole financier of it what a shame to your knowledge ..a disaster to whoever taught you and brought u up

Oh, reading and understanding is a problem!
Definitely, animals raised you.

Thanks. It's very clear now.

DamnnNiggarr:


Just like USA with a GDP worth of $24 trillion(2021 estimate) but has a gross external debt of over $21 trillion.

Imagine a country that has annual expenditure of $7 trillion but with annual revenue of $3.4 trillion.

If not that Nigeria's government is not transparent, Nigeria would've been one of the richest country in the world with an annual expenditure of $30 billion and annual revenue of over $50 billion.


I'm not too good in economics but with the knowledge I got in eco101, 102, I can unequivocally tell you that Printing more money doesn’t increase economic output – it only increases the amount of cash circulating in the economy. If more money is printed, consumers are able to demand more goods, but if firms have still the same amount of goods, they will respond by putting up prices. In a simplified model, printing money will just cause inflation.

*Suppose an economy produces $10 million worth of goods; e.g. 1 million books at $10 each. At this time the money supply will be $10 million.

*If the government doubled the money supply, we would still have 1 million books, but people have more money. Demand for books would rise, and in response to higher demand, firms would push up prices.

*The most likely scenario is that if the money supply were doubled, we would have 1 million books sold at $20. The economy is now worth $20 million rather than $10 million. But, the number of goods is exactly the same.

*We can say that the increase in GDP is a money illusion. – True you have more money, but if everything is more expensive, you are not any better off.

*In this simple model, printing more money has made goods more expensive, but hasn’t changed the quantity of goods.

So Mr huptin, why can't Nigeria just print ₦aira to tackle Nigeria's economic mess? Nah! It doesn't work that way.
If only 20 bags of rice is produced in your location, assuming only only 5 people are able to purchase a bag at say 20k out of 100 person's due to lack of money and the government decides to print more money to be in circulation in the economy, and about 50 person's now have cash, now what will happen is that, more people now have cash and it's still 20 bags of rice that is being produced which will lead to high demand for a bag of rice.
Do you know what the producers will do? They will respond by doubling the price of a bag of rice.
I hope it's clear now.

Realhommie:
What that guy is saying is that the Bishop's messages are majorly centred on wealth and prosperity and that's the truth. He talks too much about wealth and what it does is that it sends the wrong message to his teeming congregation. No wonder the desperation to make money among members and then come to the altar to give vain testimonies about material possessions while the congregation cheer with shouts of "I tap into this grace, etc"...

That church is a money making enterprise and that is the truth. I like the fact that they have a good structure and are very organised though.

How many of his messages have you listened to? Answer this with all sincerity.

Secondly, below is his call;

"Now the hour has come to liberate the world from all oppressions of the devil through the preaching of the word of faith, and I am sending you to undertake this task"

And his messages have never been different or far from the above.


Lastly, just before you say what you don't know again, go and read more about how the church started and about his life generally.


I am an evidence of the reality of this man's call and it it's painful that people allow themselves to be used by the devil to say rubbish and spread lies about this man, don't be one of them.

FireUpNow:
Which Bakare be that? It also applies to everyday people who live above their means as well as those who steall to pay for tithes and offerings

The one when them say he borrow money take build church nau.. Ofcourse,that was what I stated in my previous comment too...

Strongbest:





How many of his messages have you listened to? Answer this with all sincerity.

Secondly, below is his call;

"Now the hour has come to liberate the world from all oppressions of the devil through the preaching of the word of faith, and I am sending you to undertake this task"

And his messages have never been different or far from the above.


Lastly, just before you say what you don't know again, go and read more about how the church started and about his life generally.


I am an evidence of the reality of this man's call and it it's painful that people allow themselves to be used by the devil to say rubbish and spread lies about this man, don't be one of them.

Countless number of his messages i have listened to. I was a dedicated member for 6 years and now when i look back i just ask myself what i was doing there that long.

Let me ask you the evidence of the reality of his call you speak of?

And please tell me the lie that i stated against him, will you? I said most of his messages are about wealth and prosperity, infact that is the call. It's about material wealth to the average member of that organisation, it is very evident in their everyday living and their mentality. The average Winner will do anything for money, because to their understanding that is the evidence of God's glory in their life.

And whatever bishop does or say must be the correct thing, because he is infallible, right?

Dey there dey follow and worship man of God, no follow God you hear...

Ochelyko1:


Wisdom and Righteousness comes from God. When u say wiser are u referring to the wisdom of men? Or God?

I rather have wisdom from God and not from men.

Oyedepo might be a Father by age but a Baby spiritually. Because He is not obedience to the word of God and as such that has made him to be a baby spiritually.

In the sight of God ur age doesn't count. But ur spirit man is what counts.

Oyedepo might be ur papa but God knows he has sold his soul to the spirit of Mammon. And I don't need to educate u on that what the Bible say about one loving Mammon and hating God or loving God and hating Mammon for you can't love and serve both.

So with the above word choose by urself which one is Oyedepo serving and loving God? Or Mammon?

. I stopped reading your comment from baby. OYO is your case.

Eriokanmi:
Simple truth. The late Billionaire, Chief Sonny Odogwu's case is a good example. After access bank sold almost all he had, including his ikoyi property, it still didn't cover his billions of naira loans.

Waooooo.
I'm hearing this for the first time.

So Chief Sunny Odogwu died a debtr?
Sometimes, not all we see on the outside truly glitters

Tonytonex:
. I stopped reading your comment from baby. OYO is your case.

Bye Baby! Go and meet your Papa oyedepo.

Realhommie:
Countless number of his messages i have listened to. I was a dedicated member for 6 years and now when i look back i just ask myself what i was doing there that long.

Let me ask you the evidence of the reality of his call you speak of?

And please tell me the lie that i stated against him, will you? I said most of his messages are about wealth and prosperity, infact that is the call. It's about material wealth to the average member of that organisation, it is very evident in their everyday living and their mentality. The average Winner will do anything for money, because to their understanding that is the evidence of God's glory in their life.

And whatever bishop does or say must be the correct thing, because he is infallible, right?

Dey there dey follow and worship man of God, no follow God you hear...

Countless? State the title of such messages or keep quiet!

You were never a member, simple. I see that responding to your mention is like pouring water into a basket.......if you fail to mention the title of the messages, don't mention me.

Ochelyko1:


You speak like the Muslim you are! My Messiah birth was base on prophecy and also he was a little baby when the gift was presented to Him. How can you be so dumb to expect a baby to reject or even accept the gifts?

What part of religion allowed a baby to accept and received gifts? When you are a baby did u know those who came to give your sorry ass diaper? Why didn't you reject it den?

Sometimes foolishness is not about doing foolish things but some questions and reasoning sound foolish especially when is coming from someone like you.

sorry babarian,I'm Jewish,not a Muslim....

Strongbest:




Countless? State the title of such messages or keep quiet!

You were never a member, simple. I see that responding to your mention is like pouring water into a basket.......if you fail to mention the title of the messages, don't mention me.

You're funny. So i have to start mentioning messages? Dude i said i was a member 6 years. I even started attending Shiloh 4 years before i joined in late 2014. If you like believe it or not that's your headache. Anyone could source his materials online so why would you ask me to state title?

You can keep being a member, that's your biz. I'm pro Christ and not one church. The church didn't even exist 40 years ago, common.

When he emphasizes on wealth and then people get desperate to make the money what do you think will happen to their salvation? What did Jesus say about earthly riches, and Apostle Paul in Timothy too? Yet some people still glory in earthly possession.