₦airaland Forum

JeSoul:
And how is that "dialogue" working out so far for him and the US? Iran continues to march on forward completely unfazed towards forging and carving out their own space in the nuclear echelon, while taunting, daring and wagging their tongues at the US, Britian and the west, brandishing their defiance with brazen insolence.

Yes, dialogue is certainly working just fine.

Stop talking balderdash. . . . no Republican President can do anything to stop Iran presently. . . . Iran knows Yankee is struggling with 2 wars at present. . . . The Republicans under George Bush have wittled away any leverage the Yanks hold as regards militaristic action. . . . . .

dayokanu:
I get wats going on, The picture below illustrates it well

This is the correct definition of second-hand smoke!!!

Ma nominees:

Dayokanu
Cristalz
The inimitable Dr Kituan

PapaBrowne:
However, the data I refer to is for the last quarter 2009(Sep- Dec) in comparison with the last quarter of last year and it is raw and inconclusive.
Results for the period won't come out until early next year. Right now, I am depending on pointers, and these pointers are turning out really bad results.

I thought so. . . . however, we will believe you when we see the source of your data. 

Can you compare the 4 quarters of this year with each other rather than last year though? The argument remains that credit-lending slowed down considerably this year. It is also imperative to compare 2nd Q this year with 2nd Q last year. Both these Q's belong to Soludo. This would filter the noise of the general downturn, and help you point the finger more exclusively at Sanusi.

[quote author=paddy_lo link=topic=361956.msg5109331#msg5109331 date=1260794981]Govt spending is closer to 26% of GDP not the 50% you quote. . .[/quote]Thanks, I thought it was 30% but I was not sure. . . . my apologies.

PapaBrowne:
As regards a credible source/evidence to support my 80% figure, I work with data everyday. The figures are actually worse off, however, they are not conclusive, hence the 80% is just an estimation.

As a data analyst, claiming 80% drop in loan provision and attributing it to Sanusi is a serious faux pas.

I am assuming that you are talking about 80% drop from last year.

Lets assume that things were running as normal before Sanusi's appointment in June.

Lets also assume that Sanusi froze credit completely, and no single loan was given from June till now.  Lets also assume that aggregate supply of credit does not vary from month to month. Using a slide rule, we can assume that credit doled out from January to June (6 months) should be 50% of the previous year. Am I right or am I wrong?

Now, if credit has dropped 80%, shouldn't the January - June statistics give us only a 50% drop from the previous year at least? Even if Sanusi froze the market completely, we should still be on 50%.

A more objective view would tell you that the 80% drop you claim is as a result of the banks eroding their capital base and not having the money to give loans, whether under Sanusi or Soludo in the 6 months prior. Otherwise, we would only notice 50% drop in the worst-case scenario.

Even your own data verifies the fact that the credit squeeze is ongoing and has been so since the start of the year.

Picking data like this to explain issues is as much misguided as picking yearly data to show us that car sales have dropped 38% from last year.

The least you can do is give us Jan-June, then June to Dec, and compare that with the equivalent periods from the previous year. This would help us differentiate between Sanusi and the previous status-quo.

A gorrilla must be missing from the zoo.

Zuma has actually confounded critics with his leadership so far. They thought he was gonna nationalise everything and correct the imbalance in society straightaway, but he hasnt lived up to the rhetoric. Rather, he has been conservative in his approach.

tkb417:
good one
we have the best gurls on NL

Thats good to know. . . .Chelsea wolves on alert, always looking for something new to devour. . . . Every new meat on scumthread must be devoured by the ravenous Chelsea hordes. . . . lemme go and inform BoRat, FBS, Nateevs and the rest of the Flipmode Squad about this new development. . . .

[quote author=~Sauron~ link=topic=365838.msg5104182#msg5104182 date=1260717577]For a fan whose team went 51 years without a league title, you sound like an overleveraged knobjockey.[/quote]WTF is an overleveraged knobjockey, you cadaverous cerebro-soporific bombaclaaaaaaart!!!

Y'all keep laughing. . . . no condition is permanent. . . . the form guide shows MEND FC is the 2nd top performing side for December. . . . with Eldee FC moving up the charts in 3rd place.

hahahahaha. . . . that was a good punch. . . . its a shame SB isnt good with his fists like John Prescott. . . . the last time a protester threw an egg at JP, he knocked him out.

85 points for me this week. . . . who wan test?

Nice one Gunners.

More pressure on Benitez.

The fans are gonna go crazy on the phone-ins.

PapaBrowne:
Ibime,  Interbank lending cannot in anyway be used as a measure to assess lending to the real economy at least in Nigeria.
Nobody cares about Sanusi's impact on interbank lending.
The credit that is frozen right now is that which is usually given to businesses to operate. This economy has stifled as a result.
NIBOR rates might have reduced just 6%, but real credit has slumped much more than 80%!

First things first, banks have never lent to the real economy. Micro-credit institutions fulfill that role in Naija.

Someone who does not have money to lend cannot lend. Banks having eroded all their capital in risky loans will not be able to continue lending lest they endanger their depositors. That has nothing to do with Sanusi. They havent been lending for the last year. Rather, they've been borrowing on the EDW.

The fact NIBOR rate is falling shows that banks trust each other more now. If banks continued with their unscrupulous lending, then the NIBOR rate will go up because they will suspect each other of false disclosure of toxic assets.

Secondly, corporate loan-repayment rates usually track the Libor, and I suppose they do the same to the Nibor.

Thirdly, the unscrupulous lending they did before came back to hurt the taxpayer in the pocket by way of EDW and bailout. Again, that effect is detrimental to the real economy, in a country where Government spending counts for close to 50% of our total economy.

For all the sciolists talking about credit freeze, its imperative they understand the meaning of credit freeze before proferring unsolicited opinions. How do we measure credit freeze? Pls check the 90-day Nibor rate as of today (16.7%) as against 6 months ago (22%).

If credit freeze indicates that tycoons and Government round-trippers no longer have access to easy uncollaterised loans, then I agree - there is absolutely a credit freeze. Does this mean the banks have less appetite for risk? Absolutely! They have less appetite for the kind of risk that forced them to write trillions of Naira off their books - but the economic indicator which measures liquidity of credit (Nibor rate) shows that credit has eased.

BTW, Im glad Gerrard's diving is coming back to haunt him. Howie Webb served him comeuppance for all the dodgy penalties he's been winning or trying to win recently. Gerrard and Rooney are the two biggest divers in English football today. They think they can get away with it cos they're the English media-darlings.

Wenger looks like he's about to lose his composure again.

dayokanu:
How Long would Reeama stay on top of me

We have to change position I need to be on top of her while she is below.

I dont think you're referring to FPL here. . . . methinks you talking about something else

illusion2:
Sir Alex Ferguson said referees should not be responsible for calculating the amount of time to add on after watching Aston Villa beat Manchester United.

Yeah. . . . he wants us to go back to the 1990's when referees' only definition of injury time was "play till United score".

He seems to easily forget that the reason for the FA taking the decision out of the hands of the referee was because of the uproar that followed numerous elongated injury-times at Old Trafford.

The old fool needs to worry about why his team is so impotent and how he can replace Ronaldo, not injury time or bla bla bla.

mikeansy:
people are just making and reading too much into North or Core North.

It does not mean anything. Tanimu Yakubu and Co are just executing illegality in the name of the North. There is no North and even if there is they don't have monopoly of politics as people make it out to be.

Where was the North when Obasanjo was in power? Anybody? Where were they when OBJ single-handedly installed Yar'adua as President?

I have said it before when this confusion started and I say it again if Yar'adua dies there is nothing under the sun Tanimu Yakubu, or Sariki Mukhtar will do about it. The Constitution says Jonathan Goodluck will be President and so shall it be.

There is no need talking about North dumping Yar'adua as if it means anything. Yar'adua is incapacitated, why did they not dump him when he was around? People should embrace the new times we live in and speak more of what Nigerians think not what 'North' thinks.

GBAM. . . . the truth is, Babangida emasculated the North. . . . the North is more heterogenous than we ever imagined. . . . besides, the military which has always been the North's leverage has shown itself incompetent in the face of societal breakdown (Niger Delta) and increasing proliferation of firearms in the country.

Cristalz:
Ibime, you know I am right here.
You just don't want to agree openly 'cos Nateevs is your fellow fan; you wanna be nice.

I think only yourself, Nateevs and Debo know what you are arguing about. . . . honestly!!! 

For real, I dont think anyone can keep up with the thread of this argument. If I were to dissect the argument, I might get a headache.

According to my honourable friend Patrick Obahiagbon, I think this argument indents on omnibus. 


@ Nateevs,

nateevs:
My last post!

I hope so. . . . leave my gurl alone!!! 

Im back to some old school. . .


[flash=425,344]
https://www.youtube.com/watch?v=0cF9V41W-58&hl=en_GB&fs=1&[/flash]

debosky:
41 points so far. . .not bad given Rodallega was wasteful today.

The just shall live by faith. . . .


Meanwhile am moving up. . . Lalaboi and DK, get thee behind me. . . Mykali is a sitting duck to be overtaken tomorrow. . . . Tubabie, Mukina and Borat will be dispatched by next gameweek. . . the fightback is in progress. . . . all who scorned my desolation shall reap my wrath!

Emperoh:

Nateevs and Criz its all Rigmaroles!!!

Una just want argue cos i don't see any difference in all Cristalz post that Nateevs quoted
This is a pure case of very busy doing nothing!!

Ikwu ofuna.


I think this lot are just flirting with each other. Im jaloos.  

hehehehehe. . . . Crizzle nngwanu, haputa osiso.

Nateevs, come lets go watch MOTD and leave these lots to drown their sorrows. 

OK, I was gonna close my set, but the crowd is requesting another song. . . . this one is dedicated to our darling mod. . . . last song of the night. . . .


[flash=425,344]
https://www.youtube.com/watch?v=bEo4XGDudnY&hl=en_GB&fs=1&[/flash]

Cristalz:
You see that right there, Nateevs? No clause.
Now that is a full statement, no conditions, no clauses.

That's the type you should unleash yourself on. Not statements like:

''Chelsea will not sustain an unbeaten run with their defense this shambolic, and with Cech this shaky''.

. . .the part in italics is the clause. The first part of the statement depends on the other. Ya dig?

I know things are really hard for you right now, thats why I dedicate my final selection to you:


[flash=425,344]
https://www.youtube.com/watch?v=JlQcJAjYxaI&hl=en_GB&fs=1&[/flash]

Cristalz:
@Ibime
It's Nateevs you should be singing for. . .

Of course Im singing for Nateevs. . . . this song is going to the top of the charts very soon. . . .



[flash=425,344]
https://www.youtube.com/watch?v=nsUdZrG1Fpo&hl=en_GB&fs=1&[/flash]

Emperoh:

She's already gotten the soothing balm she needs to get over this one!!

You obviously doing a poor job nucca. . . . you should take a tip from Carl Thomas. . .

[flash=425,344]
https://www.youtube.com/watch?v=MZs2sNUF4V0&hl=en_GB&fs=1&[/flash]

Crizzle. . . .


[flash=425,344]
https://www.youtube.com/watch?v=pp7L-jJI5sI&hl=en_GB&fs=1&[/flash]

Emperoh:
Anyway, i am looking forward to the next game. . . won't you look for something else to do than arguing with Nateevs?

Crizzle loves engaging in long arguments every time United lose. . . . but no amount of aurgment can provide healing to the soul. . . . I think she should just let it burn like Usher. . . .    


Let it burn. . .
Let it burn. . .
Let it burn. . .

After bonuses are tallied, MEND FC are on 70 points with Fabregas and Arshavin yet to play.