₦airaland Forum

This ChatGpt answer is saying two opposing things at the same time: Rate Hike will put more money in people's hands and lead to business growth and rate hikes will make borrowing money more expensive and less people will be willing to spend or invest. It can't be both at the same time. More reason why we should not consume AI hook-line-and-sinker.

exstreve:
I asked ChatGPT to explain Interest rate hike like I'm an 8 year old to some who may not understand, I do cos I trade stocks and crypto, well, here is the answer.

Well, imagine you have a piggy bank where you save your allowance money. Every once in a while, you decide to give yourself a little treat and take out some money from your piggy bank. But what if you notice that your parents start giving you more money as your allowance?

You might think, "Yay! Now I can take out more money from my piggy bank and buy even more treats!" That's kind of what a rate hike is like.

You see, when the government or a bank decides to hike, or increase, interest rates, it means they are giving more money to people. When people have more money, they tend to spend more, just like you would if you got a bigger allowance.

But why would the government or a bank do that? Well, sometimes they want people to spend more money to help businesses grow and for the economy to become stronger. When businesses grow, they can employ more people and create more jobs.

On the other hand, if the government or a bank decides to lower, or decrease, interest rates, it means they are giving people less money. In this case, people might decide to save more money instead of spending it because they aren't getting as much from their allowance. So, it's like having a smaller allowance and not being able to buy as many treats.

Rate hikes can affect many things, like how much it costs to borrow money or get a loan. When rates go up, it might become more expensive for people to borrow money, and they might not want to spend as much or take out loans to buy big things like houses or cars.

So, similar to how your allowance can affect how much you can spend on treats, rate hikes affect how much people can spend and can also influence the overall economy.

Its sarcasm. Don't you get it?

SmartPolician:
You cannot claim to love your country and be jubiliating when you read bad news about it.

Yes, I campaigned and voted for Peter Obi too, but always rejoicing whenever you read bad news about Nigeria shows you never loved the country in the first place!

You guys need to check yourselves!

It should be established in the CONSTITUTION of Nigeria that the EXECUTIVE BRANCH of Government SHOULD NOT impose new tax or increase the existing tax regime –––not even by one kobo ( either Income tax, VAT, Tariffs, Custom Duty, etc. . .) without a debate in the NATIONAL ASSEMBLY and the approval of two-thirds majority of each respective chamber of the National Assembly.
Taxation on the citizens, no matter how noble the motive is, should not be arbitrary as it is in Nigeria. In Nigeria, you will wake up one morning and hear the custom duty has increased––when? how? why? Worst of all, this decision is made by each agency or parastatal without regard for the overall direction or goal of the administration they serve. It was worse under Buhari, where each Minister ran his or her ministry like a mini-kingdom, detached from the rest of government . The coordination problem was alarming.
We need to move beyond the era of arbitrary taxation on the citizens.

Why is he still using Nigerian Aircraft? Won't these leeches get off?

You no day watch Metgala and grammy or their award shows? Oyibibos day wear over the top clothes go awards normal normal.

Landy101:
Something wen oyibo go just wear simple suit and tie,,
Africans like to overdo things,,
Se some of them looking like statue

you people shouting "IGBO" 'IGBO' upandan. I hope you will keep the same energy when an IGBO personis caught dealing drugs in South Africa, India, Singapore, Malaysia etc as it will sure happen. If you don't keep the same energy, we will be here to help you revive the energy by shouting "Igbo Amaka." When they commit crime and dent our image, the criminal is nigerian, but when they happen to achieve good things (as many tribes in Nigeria does,) they'd choke everywhere with "Igbo Amaka." As if they are the only achievers. If thy talk, they'd say envy.. envious of what?

These guys are funny

YesDaddyTill203:
Biden has my vote already. My wife and kids are also going to vote for Biden.

You think Biden will run? I bet he won't. The announcement was strategic. If he doesn't announce his run, they will treat him as a lame duck president and won't take him seriously (they'd be looking up to the next president). It won't be good for the Biden presidency and the United States if he is seen as a lame duck president a good two years before the end of his administration-in that two years, congress will drag their feet on his agenda. Again, I don't believe he will run.

Farooq Kperogi religious and ethnic bigot way sabi speak plenty grammar. Since Nigerians are uncritical, they adulate him, because of his good write-ups, but refuse to critically engage his often bigoted and religiously fanatical points of view. Farooq Kperogi is a religious fanatic!

YorubaNiBaba:
Obidaft ruling this country is a no no, even if he contests for 2000 times, he will never smell aso rock...... Sai Jagaban till 2031, wailing wailers go wail for another 16 yrs

If i see people defining those who have looted our destiny and caused so much pain and misery in the land, I weep.

God what have we done to deserve this Buhari pro max? Are we going to have another president who can't speak to us, but will rely on spokespersons to issue statements in his name? God please don't let this affliction befall us twice.

Una never see anything. Christians, You may think that Muslim-mulsim ticket means nothing. It is symbolic. It is a bold assertion that Nigeria is an islamic country. Make una day play.

Nothing will defend him from the wrath of God.

habsydiamond:
Am very sure Obi will win is mandate in court.... if any supreme court judge go mess up this time... God go slap am into a deep sickness that he or she will never recover from.

You nor know our Supreme Court? This case will spend years in court. They will delay, delay, and delay till thine kingdom come.
You think a Yoruba Supreme Court justice will overturn the election that favors a Yoruba, no matter how fraudulent?

The people's president.

Wike do this one...

bestmutiu2019:
well you have the right to challenge them in the court of law

Are you happy with the state of the country right now? Is this how you want to continue ? It's well .

The most heartbreaking thing in all of these is that these evil men recruit willing youths to riot and cause anarchy all over the place. The fact that poor people, whom the evil politicians have kept so for decades, don’t realize that these politicians are using them and dumping them, is a shame.

No mater what you do, you’d forever be in Peter Obi’s shadow. Envious little man.

El-Rufai is acting a script. His outrage is false. They are deceiving the Yorubas. Do not fall for this. He is the real Nollywood actor.

Now that's my President.

Believe this at your own peril. Never trust anything that comes from the mouth of the Fulani when it comes to power and politics. Kwakwanso will step down for Atiku. They are putting up this drama to confuse the political calculations of rivals. Kwakwanso is a decoy candidate.

Samunique:
If it's Yoruba that's doing what Buhari is doing now, our brothers from the East will call him a betrayal and many unprintable names, but a northerner and fulani is doing it? No problem, they'll call it "political smartness".

Who did this to us

So after 8 years of Buhari, he still wants to hand over to another fulani northerner ?

Just imagine a souther was doing this?

But we warned Tinubu & co !!!

We never learn from history. Political alliance with Northern Fulani oligarchs always end in premium tears . It’s as certain as sunrise that they’d betray you. Zik betrayed Awo and fromed alliance with Balewa. How did it end. He was sidelined and the rest is history. The North is not as powerful as they think. They are arrogant, because they know they’d always find greedy saboteurs and betrayers like Okowa to work with. The day the whole South realizes that they need to bond together as a geo-political unit , the North will be permanently rendered powerless. In fact the middle belt will join the South politically.

Pascalloyd:
Kwankwaso is a tribal bigot just like Atiku. It's either someone from the North wins or nobody.
NNPP is for Atiku, by Atiku and for Atiku. The North are brothers when it comes to politics. The North is about to teach the South Politics 101. They planned it together.

We give way too much credit to the North for political sagacity. Their game plan is clear, it is not that sophisticated. Only a fool would think that Kwakwanso will run against Atiku in the North. After what Takbuwal did, even a political rookie will know that Kwakwanso is a decoy candidate, whose purpose is to confuse the political calculations of the opponents; he will not only step down at the last minute, but will also endorse Atiku
The greatest problem we have in Nigeria are the disgustingly greedy, selfish, and ignorant politicians of Southern and Middle Belt extraction. They have cemented the arrogance and delusion of grandeur of the North. They are willing to sell their own people, play second fiddle to their Northern counterparts as long as they are given crumbs.
The day the whole South and Middle Belt unites, Nigeria will change for better. After the Asaba declaration of the 17 Southern governors, the North became genuinely jittery. But of course, they’d always be betrayers who will submit to the North.
We need to sit our politicians down to give them a history lesson. After independence, NPC of the North and NCNC of the East formed alliance and AG of the West was the opposition. But in that alliance, the North called the shots. Zik was a figure head and the Northern cabals were in charge . When Zik realized he had been played, he tried to form an alliance with the Yorubas leading up to the 1964 election. They decided to boycott the election, but after the fact, he went behind and still formed coalition with the North, betraying the initial agreement. Awolowo was betrayed. But we all know how that panned out and how the North continued the dominance. The Middle Belt fought more for Nigeria than the North, but when it comes to power sharing , the core North does not consider Middle Belt as part of them.
Never trust the North when it comes to power and politics. The day the Yorubas and the Igbos will realize that they have more in common with each other than with the core North, Nigeria will never remain the same again. If there is any region that knows how treacherous the North is, it’s the Middle Belt and I hope other parts of Nigeria, especially Southern politicians, realize this .

But Kwakwanso is also a Fulani Man.

galaxy2020:
The Hausas are majority in kano, fulanis have been lording it over them for a long time, but is like their brain don return to factory default. Atiku will come 2nd, obi and Tinubu will get 25%.

Hope you guys in Taraba do not enable the nefarious activity of the Fulani jihadists

back to back woto woto

einsteine:
Well, people (especially in the core North) don't trust Igbos due to the Biafra issue. Until Jonathan came, no armoury was sited in the South East and no Igbo man had been the Chief of Army Staff. There is a great deal of concern on how much boldness an Igbo presidency would give to the Igbo elite and how safe that would be for the Northern Elites. This would work against Peter Obi and indeed any Igbo president.


I predict that should someone of Igbo origin ever become the President of Nigeria, it would be someone from Delta or Rivers state. They can easily escape many of the issues that south east Igbo candidates face.

BUT WE SHOULD TRUST THE NORTH- A REGION THAT CLEARLY IS CONSUMED BY A JIHAD MENTALITY AND WANT TO TURN NIGERIA INTO AN ISLAMIC REPUBLIC RIGHT? WE SHOULD TRUST A REGION THAT HAS SYTEMTATICALLY UNLEASHED TERRORISTS AND JIHADIST FROM THE SAHEL ON THE REST OF THE COUNTRY RIGHT? WE SHOULD TRUST A REGION THAT HAS CONTRIBUTED MORE TO POLITICAL INSTABILITY OF NIGERIAN THAN ANY OTHER REGION RIGHT? WE SHOULD TRUST A REGION THAT VALUES TIES TO NIGER AND CHAD MORE THAN TO THE REST OF NIGERIA RIGHT? WE SHOULD TRUST A REGION THAT PAMPERS TERRORISTS ('rehabilitates' after they have killed hundreds of people) them) AND PUNISHES CITIZENS WITH LEGITIMATE AGITATIONS RIGHT? WE SHOULD TRUST A REGION THAT IS BENT ON EXTERMINATING CHRISTIANS IN SOUTHERN KADUNA RIGHT? WE SHOULD TRUST A REGION THAT IS ALL ABOUT LANDGRABBING AND LOOTING OF THE RESOIRCES OF OTHERS RIGHT? Hand go soon touch una.

The most pathetic people in Nigeria are the middle belters and minority tribes of the North. This is the same Brymo whose people are being slaughtered daily by Fulani foot soldiers. The Middle Belters are the ones that have fought for "One Nigeria" most-Theophlius Danjuma, Yakubu Gowon etc...but today they are all crying foul.
This is the best eptitomization of the STOCKHOLM SYNDROME.

The arrogance and sense of entitlement of this ill-educated Kwakwanso is symptomatic of the arrogance of Northern fulani elites. With this type of attitude, they don't mind unleashing a full blown war and mayhem in Nigeria if they don't get their way. Hand go soon touch all of una. God pass una.

Joe Biden was a lot older and more politically experienced than Barack Obama, but he served as Obama's Vice President for eight years. Dick Cheney is a lot older than G. W. Bush and more politically experienced than him. In fact he served as G.W Bush's father's Defense Secretary when he was president from 1989-1993. But he served as G.W. Bush's Vice President.

Assuming it is true that Kwakwanso's age and/or degree, and/or polictal experience make him better than Obi ( which is highly debatable) , what stops him from being on Obi's ticket as vice so he can guide him? It's all about Kwankwanso's ego. He is one hell of an overrated northern politician. Good riddance to him.