₦airaland Forum

DEMZEE:
ONLY A FOOL WONT UNDERSTAND THAT THE CURRENT MODERN MONETARY SYSTEM IS RUN ON DEBT

PAPER MONEY (CURRENCY) IS BACKED BY DEBT

THEY PRINT PAPER MONEY FROM NOTHING

THERE'S GOOD AND BAD DEBTy

ECONOMICS 001 FOR FVCKS SAKE

DamnnNiggarr:
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.

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.

sangresan:
Your comments portray you as a retard who don't know his left from right. How can you post illogical comments and expect not to be admonished?

sangresan:
You be original mumu. Exhaust his arsenal?

Walahi you be mumu.

Russia isn't even using 1/50 of her military assets. This isn't an all out war like the Western media are trying to portray it. This is an ordinary military operation.

Bbbwings:
If you want them carpet bombing like the U.S. did in Iraq, then thing would be different.

sangresan:
Ehee...With what you've been seeing on CNN abi?

Do you even think Ukraine is like Libya or Iraq?

And have you seen the Russians carpet bombing Ukraine just like the Americans did in Afghanistan?

Kingsnairaland:
Forget that... You really don't know how powerful Russia is just try to Google it then you will calm down...

jude79:
That is not the original question, you've started shifting goal post

xborr:
PRESENTING THE RUSSIAN-NATO WAR IN A WAY AN AVERAGE NIGERIAN STUDENT CAN UNDERSTAND IT
(By Emeka Ugwuonye, Esquire)

https://trendsdynamics..com/2022/03/presenting-russian-nato-war-in-way.html?m=1




To tell the story of the ongoing war in Eastern Europe, I have to use my personal experience as an angle of illustration. I am sure one will immediately wonder how the experience of a Nigerian man would help explain a war occurring at the opposite end of the world. But be patient with me and you will understand.

In 1987, I was a first year student of law in University of Benin. The first year was spent on non-law electives, to give the student a general knowledge of things through related courses in social sciences, arts and philosophy. One of the compulsory non-law courses we took was philosophy. That was how I met Professor Christos Theodoropoulos. He was a Greek man. He taught philosophy and jurisprudence in University of Ife, before he followed Professor Itse Sagay to Uniben to found the law faculty there. I liked Theodoropoulos immediately I met him. He was different from other professors. He said things I never heard before but which were already on my mind, though I was too scared to voice them out. For instance, Theodoropoulos shocked us in class one day when he said to us in the middle of a lecture: “Man made God in the image of man. As the image of man changed, the image of God also changed. This is why the primitive man had to have a primitive God, and a modern man has to have a modern God, who even has a family of father and son born out of wedlock”. This was crazy! But, I began to follow the man because I wanted to know more about his thoughts. I eventually became his protégé in Uniben.

The greatest impact Theodoropoulos had in my impressionable mind then was that he taught me dialectics (which continues to guide my analytic thoughts to date). He also turned me into a Marxist and a Communist as a student. That was a sufficient radicalization process any young man could undergo then.

From this exposure, I understood that the world was divided into two ideological blocs with distinct global positioning. The ideological blocs were capitalism and Communism and their distinct places on the face of the earth were America and Western Europe for capitalism and the Soviet Union on the eastern part of Europe for Communism. As a Marxist student, I identified with the way the Communists saw the world while I doubted the capitalist worldview. There was constant tension between the leaders of these two ideological blocs, which I learned had been there since after the Second World War. Despite the tensions, there was a balance. It was assumed that the two blocs were stalemated and were equal in strength such that none could swallow up the other. The anchor of the balance between the two blocs was the fact that each side had amassed sufficient nuclear bombs to be able to mutually destruct in the event of violent confrontation between the two. So, they vehemently opposed each other but without direct violent and physical confrontation. That was why that era was termed the Cold War, presumed to be the non-physical hostilities between the two sides. The capitalist countries, led by America, formed a military alliance for their joint security against the Soviet Union led by Russia, which formed their own military alliance called the Warsaw Pact to checkmate NATO.

By 1991, when I was leaving University of Benin and heading to the Nigerian Law School in Lagos, there was incredible turmoil going on in the world which seemed to alter the pre-existing stalemate between the two blocs. The changes were of both ideological and geopolitical dimensions. In geopolitical terms, the countries that came together to form the Soviet Union disintegrated, and each became independent. It was like peeling away of an onion. As each member of the Soviet Union went its way, it shrank the base that hosted the Communist world.

However, as the Soviet Union peeled away, NATO and the capitalist world remained intact and bourgeoning. So, in a way, you can view the changes that occurred in 1990/91 years as the collapse of the Soviet Union and Communism. So, capitalism defeated Communism. Russia, the dominant state in the Soviet Union, rapidly began to reform its economy along the model of American capitalism. Another part of the world that was Communist but not part of the Soviet Union was China. Though part of global communism, China was not in a state of cold war with NATO and the West, as the Soviet Union was. However, when it appeared that there was a defeat of global communism, China also began to reform its economy in the direction of capitalism.

By 1993, I was a graduate student at Harvard University. This was at the peak of market-oriented reforms of former Soviet countries and China. These reforms dominated academic discussions, research, and thoughts at Harvard University. For me, as a student, I was again involved in the same thoughts and subjects that had dominated my educational development in Uniben. But this time, it was more complex, more advanced, and occurring at Harvard, where the professors involved were actually the global leaders of thoughts on the subjects. For instance, while at Harvard, I took courses in economics, one of which was taught by Professor Jeffrey Sachs. I mentioned Sachs because he was officially one of the leading economists of the world that Russia had hired to guide it through reforms at the earliest stages. So, here I was, a student brought up with Communist thoughts, but now studying under a leading capitalist economist of the time. I was amazed as Jeffery Sachs proclaimed that, indeed, Carl Marx was right in predicting the withering of the state and that that had been realized by the collapse of the Soviet empire.

Jeffery Sachs' initial reform activities in Russia met some serious criticisms, mainly because he moved too fast. He reformed certain economic institutions far ahead of some critical legal institutions. For instance, he reformed state-owned enterprises and issued vouchers in lieu of shares to citizens, but without a company/business law to regulate the bundle of rights attached to shares or vouchers. As criticisms poured in, there was a serious debate as to whether shock therapy which Russian reforms characterized was as good as or better than the gradualist approach that China adopted. There was also a discussion as to whether democracy was a prerequisite to successful economic reform. In this particular regard, China was constantly compared with India, which, though with the history of communism was indeed the biggest reforming democracy in the world. Then, it seemed that Russia was too eager to become like America in terms of market reforms. On the other hand, China appeared slower in embracing America market forces. I was young, and I was involved in these debates going on at Harvard then, albeit initially, as a student.

A couple of years later, Jeffery Sachs was appointed the Director of Harvard Institute for International Development (HIID). Many erstwhile Marxist scholars in the University brought up again the old criticism they had for Jeffery Sachs – that he had no respect for rule of law, that he reformed the market ahead of rule of law and thereby could not protect the reformed Russian economy from corruption and the activities of the few powerful individuals who cornered the reformed economy, later to become known as the oligarchs. To deflect some of these criticisms, Jeffery Sachs recruited three lawyers to join him at HIID. The goal was for him to be able to show the world that he now understood the importance of the rule of law in economic reforms. Hence, he had three lawyers in his staff. The three lawyers were: (1) Jonathan Hay, an American, stationed in Russia to cover HIID activities in Russia, (2) Catherina Pistor, a German legal scholar, and (3) Emeka Ugwuonye, a Nigerian, stationed in Cambridge, Massachusetts. Our work was to help guide economic reforms in various countries where HIID was engaged for the purpose of ensuring that economic reform was progressing at a pace that embraced corresponding reforms in legal institutions.

How did those events lead to the moment we face today? Though Russia lost its empire and its glory at the end of the Cold War, it remained militarily powerful. However, Russia, in reforming as it did, became swallowed by the West/NATO in terms of the economic control of the world. Russia did not like this. Russians also believe that they, too, have a destiny to remain a superpower. The increasing gap between Russian military strength and its economic weakness was disturbing to Russia. On the other hand, NATO countries never believed that the Cold War was over. The West continued with a desire to impose every of its values on the rest of the world, including a super power and a proud country as Russia. Rather than maintain the geopolitical boundaries that existed during the Cold War, NATO began to expand by swallowing up countries that formerly allied wish Russia. The implication was that the Russian sphere of military influence (which it now describes as its security concerns) continued to shrink as that of NATO continued to expand.

Russia had hoped that NATO would not expand by shrinking its sphere of influence. It tried to counter it in many ways, including through nefarious interferences in elections in the NATO countries. It did not succeed. Clearly, America and NATO were seeking what has been described as the liberal hegemony, that is, the desire to impose their values of human rights and democracy across the world. Market-oriented reforms were achieved in Russia and to a great extent in China, but political reforms in terms of democracy and human rights have not quite been achieved to the satisfaction of the West. The idea of liberal hegemony sought to conform democratic institutions in Russia to those in America, as it has been done in the economic front. Russia resisted. American expansion through NATO threatened Russia. Clearly, Russia is not a leader in the world economy. It has lost any hope of that to American capitalism. And Russia did not want to lose its military might as it lost economic power.

Of all the former Soviet Union countries, Ukraine is the closest to Russia. They have shared commonalities throughout history. Admitting Ukraine into NATO would place NATO at the door steps of the heart of Russia. Russian Government understood that such would place it at significant disadvantage as a superpower, that it would lose much of its clout as a military power. Putin goes further to believe that the ultimate aim of NATO in getting that close to Russia was for NATO to eventually physically conquer Russia. Hence, Putin saw NATO expansion as an existential threat to Russia. Viewed in such a serious manner, Putin would go to war to stop it from happening.

Now, finally, it must have been shocking to observe the speed with which NATO crippled the Russian economy through sanctions. Why was that possible? That was because Russian economy was intricately integrated with Western economic institutions. Indeed, the effect of the sanctions must have convinced Putin of what would happen in any other area where Russia allows NATO to dominate it. Russia, through economic reforms occurring since 1990, has subordinated its economy to that of the West, and now the West has exercised the leverage and crippled Russian economy. Similarly, should Russia subordinate its security concerns to NATO, it will be a matter of time for NATO to leverage that to the point of neutering Russia permanently. Every hegemonic power ultimately gets expressed through military might. You saw that in Iraq, Libya, and nearly Syria. Russia knows what NATO could do to dislodge you if they could.

Time has gone by. Today is much different from 30 years ago. Propaganda and disinformation have always been weapons of war. But, Putin could not have prepared for the level of propaganda made possible by the social media today. He has been outgunned when it comes to propaganda and disinformation. As NATO powers ban Russian news agencies while at the same time dishing out exaggerations and untruth against Putin, he must realize that there was an aspect of this warfare he was not prepared for. And what do you think about the sanctions-based attack on the assets of Russian businessmen? Their only true sin was that they happened to be Russians. The claim that the oligarchs are friends of Putin makes no sense. The Russian businessmen who formed partnerships with their American and European colleagues must have been shocked at their victimization.

For me, I am still a student studying events as they manifest and unfold.

https://trendsdynamics..com/2022/03/presenting-russian-nato-war-in-way.html?m=1

Kingsnairaland:
When NATO murdered Muammar Gaddafi, Western media called it "Military intervention" and they no longer bother to report that the evil military action led by Obama has left Libya in worse condition.

George Bush and Tony Blair lied that Saddam Hussein has weapon of mass destruction just to invade Iraq. After they destroyed the country and captured Saddam Hussein who was consequently executed, Bush said "We do not know whether or not (Iraq) has nuclear weapon." Both men who engineered a tragedy that took over 250,000 lives are not even facing trials for war crimes. Western media do not paint them in bad light as it ought to be.

Western media will not tell you that Ukraine has been forcing Luhansk and Donetsk regions to be part of it, in spite of vast majority of the people choosing to be independent via a referendum. What they want you to believe is that Vladimir Putin is bullying innocent Ukraine for pleasure.

Western media will not tell you that trampling on Ukraine's sovereignty is not Moscow Kremlin's main aim but survival against US-led NATO's encroachment, with the insistence on admitting Ukraine into NATO after allowing other Eastern European countries: Bulgaria, Estonia, Latvia, Lithuania, Romania, Slovakia, and Slovenia to join.

America can recognise the independence of Taiwan but Russia cannot recognise the independence of Luhansk and Donetsk.

hurryup123:
Hybride cars are bad market now.
The thief must be a desperate mofu

Kastonkastroll:
Abeg! You think those cowards that constitutes NATO have any balls to stand against Russia one on one? NATO powers start and ends with weak countries that don't possess any nuclear weapon. America and her NATO lapdog never envisaged a Russian attack on Ukraine, they thought Putin wont go as far as attacking a sovereign state and the man did just that, that's why they are so angry.

Russia didn't fall for any western bait, rather it showed the west that it ready for anything. And in case of any war between NATO and Russia, do you guys think Putin will waste his missiles on weak NATO member states like Lithuania, etc? Neah, his primary targets will be US and UK, and I bet you even US should know about this. The best the west can ever do is to fight Russia via proxy which I think is what is happening in Ukraine.

gidgiddy:
As an Igbo man, I dont like Tinubu at all. But it is important to note that many Igbos in the South East dont know who Tinubu is. Tinubu has never been a national figure, he was just the Governor of a State

However, here are 4 reasons an Igbo man like me hates Tinubu

1) Igbos dont like God-fathers, and the fact that Tinubu still decides who will become Governor of Lagos state, many years after leaving that position, is nauseating to most Igbos

2) Tinubu's contribution to bringing in the disastrous regime of Buhari dont make him a friend of most Igbos

3) Tinubu has come to represent the face of greed of the Yoruba ruling class who are aware that the South West have had their uninterrupted 8 years with Obasanjo, but are quite happy to cheat the the SS who have had one term, and the SE that has had no term

4) Tinubu has always been a shady character. This is the only Presidential aspirant whose name, age and origins are all in doubt

maasoap:
That's quite a lie from you. Show us any link to that claim or disclaim

aanuoluwami14:
Most of them are either desperate or rushing.

Analyst7:
Lol and u believe that, where is ur source
The president should declare that with his own mouth and evidence

Joshuamilez:
Lol Na Ogbe Stadium

Analyst7:
Can this people just shut up, whys the media not clamouring for Ukraine people to not join NATO and end the killings one and for all
But those guys kept sending reinforcement ..meaning encouraging the war and further loss of lives...

LocalStandard1:
In summary:

1. America is trying to stretch it's arms to Russia using NATO and Ukraine,

2. Russia says 'no, we won't allow it'

3. Russia invades Ukraine (the puppet), to stop the move ahead of time,

4. The West (NATO and America), the all-righteous and moral wink, knowing they can't attack Russia directly (too big and strong for them) decided to use sanctions against both country and individuals.

5. In doing so they discover in other to hurt a new enemy they have to beg old enemies to be friends.

Question-: Venezuela, Iran, Zimbabwe, Cuba, North Korea etc have been under western Sanctions for decades now, are these countries eating each other to survive? If NO then Russia will find a way to thrive for years to come even with the sanctions, it just a matter of time.

The world does not belong to the west, west is where the sun sets. Lets look to the east!

Taba21:
And you think Putin didn't know before he unleashed attacked against Ukraine

msrcusgarvey6:
Some one should analyse Ukraine's conditions in all these please

Simran94:
Lol, Abramovic is one of the Russian oligarchs that are Allies with Putin. All of them are being targeted, all their assets are being seized. If any of the other oligarchs owned a FC in the UK or Europe, they would be seized too.
One of the oligarchs owns the largest yacht in the world but it has been seized too.

BKayy:
The attack on Oligarchs is celebrated more in Russia than the West. The West is just helping them attain the full philosophy of Commusim.

The West is doing Russian citizens a favour