I am a bit surprised at the outrage here because the suspect is femail.

Couple of weeks ago, a man was beaten to death for similar crimes, and i couldn't witness similar outrage. Cover your heads in shame you hypocritical cowards!

Any sort of mob justice is unacceptable!

.

Nairaland should make it a policy not to publish the pictures of accident victims online.

1) Human lives are involved in terrible tragedies like this. Real people with real families and friends. You should at least respect that and not publish such pictures for the entire world to see

2) It serves no useful purpose whatsoever besides people say utter crap like "eyaah" "oh dear" "God have mercey" etc.

3) Have some respect for human life for God sake. If you ever witness such accident, help where you can, but don't go online with the pictures of the victims.

4) Put yourself in other people's shoes and imagine how much more sorrow they will feel when they see pictures of their loved ones like this!

Policy makers in this administration are mostly idiots. Deficit spending to finance recurrent expenditure/waste is going to lead to severe problems down the line.

People can expect further deterioration of the naira as interest expense rise higher given higher debt to gdb, more deficit spending, lower business confidence, higher inflation , lower gdp growth!

The tough times are not yet here, the tough times are coming!

Emefiele is either an idiot or just clueless. Of course, the black market reflects the true value of the currency. The true value of anything is how much willing participants in a transaction are willing to pay for it.

The currency will continue to be under pressure as long as the government does not address the huge amount of deficit spending that they want to embark on! This is not something you can blame on the black market. The black market functions whenever the real market does not.

When i explained MMM to my five year old niece...

she simple asked: "So what happens when the number of people getting help outnumbers those providing help"?

The answer is simple - it crashes!

I suppose she's got more intelligence in her 5 year old brain than all MMM clients.

Girlbestfriend:


and nobody asked you. I blame the Mods for pushing this to FP, Nigerians always waiting forr their fellow man's downfall, how can you ever succeed with that kind of mentality

which of the girls in the picture are you?

olanje:
MMM has not crashed. It's only frozen. Relax.
Seriously though, there are some ideas that are either so entirely foolish or dangerous that they should never gain traction. Yet in the world of anti-intellection (some would say post-truth), every shade of mad ideas has impressive mainstream following. MMM is one such concept.
Let's keep it simple, an investment that yields a 30% monthly return will double every 10 weeks or thereabouts (compounded). If I put N100,000 into MMM in one year, at the end of 3 years, MMM would have to pay me circa N5 million. For a scheme that has no investment, the level of additional inflows required to sustain that pyramid is staggering.
MMM has an estimated 3 million account holders. If each account holder on the average kept just N10k, compounded for 3 years, the payout that will be required at the end of 3 years is over N1 trillion. If the average account is N100k, the payment will be N10 trillion. You may want to find out the size of Nigeria's budget for 2017.
If my analysis is beginning to look stupid, it's because the underlying investment is just as crazy. Here is a scheme that its potential payout in 3 years - if only N100k is compounded by 3 million participants - will be bigger than the country's budget.
Read my lips - it won't happen. In finance, we use a euphemism to describe the halt to this anomaly; it's market correction. I am not predicting a crash. I am only saying there will be a market correction. The magnitude and timing, are entirely out of my scope of predictive abilities.
There could be a number of precipitants to the correction. A widespread liquidity needs by account holders (Christmas, Easter, school fees all have seasonal impact on our cash needs) or increased regulatory scrutiny will cause problems.
If you still go ahead to put your money in MMM after reading this, if you lose your shirt, you need a hiding on your unclad back

No, this is not market correction.

With market correction, there is an underlying market, with real assets and the occasional boom-bust cycles. This is just a fraudulent scheme - with willing victims. The end result is always predictable. Ponzi schemes always end badly.

I can't for the life of me understand the intelligence of someone who invests in a promise of higher returns without questioning where the returns will come from - of course, they will tell you the returns will come from "other people paying into the system"....but for that to happen, there will have to be an infinite number of people who will pay into the system infinitely.

rosalieene:
people should calm down, when January comes and nothing has happened then you can panick.
You are giving anti-mmm people, seun and his mods the more reason to laugh

Of course, calm down babe. I can see that you are pretty and gorgeous like that. I hope you put in a lot of money into this?

Your make-up and toiletries are about to become soooo expensive and unaffordable.

Geez, how slow can Nigerians be?

anti-mmm people, as you call them are going to be laughing looong enough after this. This will be a textbook case of how not to be an idiot.

Stupid people deserve to lose their money.


A little bit of Googling could have helped you out! Just check MMM ponzi scheme on wikipedia!



I have no sympathy at all for idiots, who will very well lose their life earnings on this ponzi scheme. There is no free lunch., If it is too good to be true, it probably is.

You cannot invest in something that has no infrastructure, no earnings, no cashflow. They don't sell a product, or services. You only make money through the greater fool theory. Sometimes, the greater fool is you!

So from your 32k, you expect the airline to

a) Pay for the Pilot's time

b) Pay for the host/hostess time

c) Pay airport fees

d) Pay for the fuel

e) Pay for the maintenance of the aircraft

f) Give you and everyone else full lunch?

g) Remain profitable and stay in business

Nigerians self! Why not give us examples of these "other climes" where such is obtainable?

I am surprised by the comments i see here.


Most of you that compare tribalism to racism don't really know what true racism feels like.

You haven't yet experienced being publicly humiliated, discredited, and lowered in a foreign country, all just because of your skin colour. It is not an experience i would wish on an enemy.

You haven't experienced the monkey calls, being spat at, assaulted, or trampled on - you haven't felt being hated, for no single reason at all. Unless you take a mile walk in OP's shoes, then stay in your quiet village, eat some cassava and shut the hell up!

Mods should move this to front page

I suspect the Russian bots that like to compare the United States with Russia on any basis, would hate this frank admission by the Russian President himself. LOL!

oh, and of course, this is straight from a Russian news outlet...just saying, for the sake of the one idiot out here!

ST.PETERSBURG, June 17. /TASS/.

The world needs such a powerful country as the United States but Moscow does not want Washington to meddle in domestic affairs and prevent the European Union to build relations with Moscow, Russian President Vladimir Putin told a plenary session of the St. Petersburg International Economic Forum.

"The world needs such a powerful country as the United States. And we also need it. But we don’t need them to constantly interfere in our affairs and tell us how to live and prevent Europe to build relations with us," Putin said.

The US tells its European partners to tolerate sanctions against Russia although they affect Europe’s economy. "Why tolerate? I don’t understand," Putin said, adding that compared with the EU, the US economy is not suffering from the anti-Russian sanctions.

The Russian president admitted that the US is the only superpower today. "We understand this, we want and are ready to work with the United States," Putin said.

Putin believes that the western policy of unilateral actions by the West breeds chaos and that a dialog and search for mutually acceptable solutions is needed instead for preventing a rerun of the Cold War.

"If the policy of unilateral actions goes on, if steps in the international scene, very sensitive for the international community, are not coordinated, such (negative) consequences will be inevitable," he said at the full-scale meeting of the forum. "If we turn an attentive ear to each other, if we look for a balance of interest, this will not happen."

"If there is such cooperation, nobody will ever talk about any Cold War," he remarked. Putin said he would not like to think that "we are moving towards some Cold War."
"I am certain that nobody wishes that," Putin said. In his opinion, however dramatic the logic of international relations might seem, it was not a logic of global confrontation.

Putin recalled the history of problems that existed in relations between Russia and the West. He said that after the collapse of the Soviet Union many had hoped for a climate of "universal prosperity and trust." However, Russia had to confront international terrorism and separatism, while other countries started providing assistance to the separatists.

After that, he went on to say, Russia encountered the problem of NATO’s expansion. He pointed to the alliance’s intention to incorporate Montenegro.

"Who is threatening Montenegro?" Putin asked while commenting on that idea.
He also touched upon the problem of NATO’s missile defense, which continued to develop even though the Iranian threat had vanished. Lastly, Putin recalled the western support for "color revolutions" in different countries.




More:
http://tass.ru/en/politics/883026

Why do people get married and have kids when they have no source of income?

I really can't understand this logic

This is a step in the right direction. If it were possible, all states should implement take this approach.

Privatization would relieve the lazy hags of their jobs in the educational sector and welcome folks that are actually really good and can impact knowledge. There are so many teachers in these schools who are barely literate themselves.

Additionally, the government can now direct resources on projects that should inevitably increase productivity...well, one can only hope they do.

fiizznation:
And suppose the same CBN prints trillions upon trillions of naira notes and chooses to give every Nigerian 1billion naira note, what do you think will happen? We are talking about making every Nigerian a billionaire here and you are calling only 10 people. Inflation! Inflation!! Inflation!!!

You are missing the point. My explanation is that yes, printing money to make every Nigeria a billionaire will cause hyperinflation....but printing money will not always equal inflation. Two different things.

fiizznation:
The simple answer is inflation. The currency notes that we use don't have any intrinsic value, rather the have exchange value. Which means 50naira doesn't mean its value is 50naira but you can exchange it for goods and services. A country like Zimbabwe couldn't understand this simple economics and they went ahead to produce more and more currencies, at the end what still happened? Well even a pen ended up costing thousands of Zimbabwe dollars and a bread was sold for as high as $2million{Zimbabwe dollars}. Their inflation rate rise to about 80 billion percent. Funny.

And everybody in Zimbabwe instantly became a billionaire{ poor billionaires}

Printing money will not always result in inflation. Although it is the conventional wisdom, it is not always the case.

The conventional wisdom is based on the simple equation MV = PY where M is the supply of money, V is the velocity of money, P is prices and Y is the total quantity of goods.

The conventional wisdom that printing money simply increases inflation assumes that if M is increased, all other things being constant, then P should increase.

But all other things shouldn't have to be constant. For example, if printing money leads to more quantity of goods, prices could actually fall.

Furthermore, the argument is nonsense that more money supply equals higher inflation. Everyday a bank creates a loan, it is basically increasing the money supply out of thin air, which may not necessarily lead to inflation.

Finally, think about this...suppose the central bank prints out 10 billion naira notes today, and they leave it in the vault...would it cause inflation?

The answer is no

Suppose, the CBN choose to give the 10 billion notes to just 10 people, would this cause inflation? The answer is no! hence the role of the velocity of money.

EDIT: That said, you are correct, printing money to make all Nigerians billionaires will result in hyperinflation.

cktheluckyman:
Lolz!! So a federal high court in lagos would seize an asset in los angeles USA? These fools never cease to amaze me!! Very soon a high court in zimbabwe would order the seizure of my property in lagos!!

It is very easy to secure the oluwole injuction anyway,the enforcement is another matter entirely

This is a Mareva Injunction. So it is applicable in a lot of countries. Although the US has rejected it twice in history, but the Nigerian government may be successful in seeking an enforcement in this case. Just read it up on wiki, it's free!

I wonder why people feel this is impressive.

Adding another 150 cars to an overpopulated state that is full of cars and the air is toxic with carbon monoxide is hardly impressive in my books.

Thousands of cars come into Lagos daily - and none ever leaves. And yet people wonder why you have 12 hours hold ups? This is the reason, you idiots!!

People are not appreciative of how dangerous the situation is. One day you would have far two many cars in Lagos, that driving outside of your house will become an issue - and everyone would be forced to wear a face mask due to toxic air levels.

Let's be real here - 150 new cars will not bring down crime levels - What will happen for sure though is that the city will become more polluted, more congested. How is that a good thing?

The government should be working at improving alternative transport infrastructure.

This is what happens when you don't have an independent central bank. Under no conditions should the President be dictating monetary policies to the CBN chief.

This approach of holding the line on an official exchange rate that is unrealistic would eventually lead us down the Venezuelan part.

Postponing devaluation is only going to make things worse. Adeosun and her team should know this, - if they ever attended any classes back in those days.

Holding on to an unrealistic exchange rate is like selling 20 dollars for 1 dollar. It is totally stupid, it simply won't work.

Emefiele and Adeosun should have listened to the likes of Soludo and Sanusi long ago and they should have done what is RIGHT as opposed to what is convenient.

...Fantastically corrupt Nigerians.

scully95:

you dont know anything.. get some fresh brains... you need brain refill cos you have too much water in it. lecturing you is a waste of time.
again read the facts again..
is this not the i diot that said any country can just be printing money any how without anything backing the money ?
and the ode is here again talking rubbish he knows nothing about.

do you know what exactly are debt?

does the CBN print money?

If the CBN wishes to reign in inflation, it could either do so with interest rates or issue money market debts, do you know what these are?

Shym3xx:
Isn't bookface the shyteface the same illiterate pleb who was handed a beat down by the dumb missy89 last year on a thread about world war 2? And that's the same re.tard trying to debate me? - hysterical.

Dumb and dumber cosigning each other...no time for time wasters. Go get the top Chiefs in Langley - I don't debate minions, I educate them.

You educate minions...i wonder what you must teach them about, considering how inadequate you are? Aren't you the same slowpoke who just compared US economy with that of Russia? LOL Even the Grand Maester himself, Mr Putin, wouldn't have made such a joke.

I wouldn't debate you mate..see, there is no value in that. The fact that you have exactly the same thought process as Appleyard and NairaMinted tells me all I needed to know about your cognitive ability. Indeed, that may be unfair. One may correctly assess that you can articulate yourself better than those two, but there is really no difference between you three where it comes to substance...you simply don't know anything, although you can act like you do....i wonder why? a dickk measuring contest for the number of likes and shares maybe? or just a visceral fear of appearing unintelligent? Not impressed mate. It doesn't take long to see that your emperor has really got no clothes.

Come to think of it, the social Darwinist in me would rather you stay misinformed. You remind me of Steve Carell's character from "dinner for Schmucks"...blissfully unaware. In your case, add a bit of arrogance, and it's just comedy gold.

Sure, sir, I am the illiterate .. what was it you said about comparing Russian and US debts? lol

NairaMinted:


Just WTF are you getting at?

LOL, just saying hello to you comrade

Missy89:


66% of US debts is owned by Americans/ American banks/ Federal accounts/ States and local governments. Foreign countries/investors only have 34%

Learn some economics maybe that will help

Bookface is 100% right

I suspect you might have better luck teaching economics to a piece of rock.

Learning to these guys simply means searching out "Why the US Economy will crash" on Google.

The analysis from Shym3xx was much more than embarrassing. You don't even need to be smart to know that it is completely senseless to compare US and Russia from a debt angle...(that's like comparing Dangote with Appleyard from a credit worthiness perspective)...you just need a bloody computer, an internet, some common sense and the will to learn. Me suspects, most of these guys have access to a computer and an internet...it's the other two that is missing.

You can' fix stupiid - Ron white, top lad

LOL

Appleyard is not viewing the topic. But NairaMinted is. hahaha...the same nutter with two monikers. Loser!

ATkester:
[left][/left]



Trash from a horseshi.t... You are a convulsive deceit!

convulsive deceit? is that even an English phrase?

Gee! The gutter types that crawl out of nowhere, come on forums and throw about a few meaningless words to impress...just stupiid!

Know your class dumbass! Appleyard and Shym3xx are those you debate with...not me!

Appleyard:
And perhaps the most annoying, silly and unintelligent comment you will see from some of these propagandist like one called bookface or facebook, is that, ''the US owes the massive debt to itself.''

What a babel!

what does this topic have to do with me?


I never said the US owes all the massive debt to itself. what i said was that most of the debt are owed to the Federal reserve and to Americans. A little Google search could have saved you from some embarrassment. 67.5% of all US debt is owned to US federal reserve and American citizens. That's a fact, which i know conspiracy nuts like you and Shymeex would rather not do with.

Plus - here's is something you may not know. When a country issues a debt in its own local currency and it has an independent central bank, it can simply print money to service that debt. It can simply inflate away the debt. This is not the case when a country has debt issued in hard currency - which is why the comparison by Shym3xx is just senseless.

I don't intend to reply your future posts.