₦airaland Forum

naijaking1:
One of these definitions removes raw materials extracted from a country from the calculation of GDP. If unrefined crude oil falls into raw material classification, then, in reality the revenue from crude oil ought not be included in our calculation of GDP. This is especially significant, because > 90% of our revenue comes from crude oil.

Inclusion of oil revenue maybe the real reason for the Nigerian aberration.

All exports count toward GDP. . . .

The main abberation in our GDP figure, as I pointed out yesterday is Government Spending. . . . Govt Spending counts for nearly half our GDP, but in reality 80% of the money is siphoned. . . . I would decrease any Nigerian GDP figure by 35% to adjust for Govt corruption. . . .

naijaking1:
Now I'm the dog
I'll try not to bring this down to personal level by telling you what animal you're.

Get a sense of humour, will ya. . . . . you no know say you be my paddy. . . . na because we get disagreement wey you dey always think say I dey diss you. . . . chill out bros.

@ Naijaking1,

I am offended that you would consider the phrase every man and his dog to be a derogatory one. Perhaps you feel you are the dog referenced in the phrase?  

You asked questions, and I gave you answers. Thats should be enough reason to believe that I approach the discussion with good intentions.

The fact remains that some lightweights here misunderstood a widely used economic phrase and then started laughing and displaying their ignorance on a public forum. When it was revealed to their chagrin that what Sanusi said was a commonplace expression in the world of economics, they started an unnecessary argument to disguise their ignorance. Imagine arguing economics with someone who watches CNN everyday, and when CNN tells him that the economy has expanded by 3.5%, he does not register that the 3.5% refers to a change in GDP. Anyone who committed such a faux-pas and is still here arguing points about the merits and demerits of GDP (of which there are many) is arguing with himself. Why would I want to engage such a fellow in discourse?

I should be top of the list. . . . my conversion rate is 100%. . . . I have taken 0 shots and scored 0 goals.

A simple widely-used economic statement has turned Nairaland into an economics discussion board, with every man and his dog asking questions. Questions whose answers cannot be addressed on such limited discussion medium as Nairaland.

naijaking1:
1. What are the limitations of GDP in the estimation of a country's economic strength?

2. Can you have accurate GDP estimation when the census of a country is so fundamentally flawed?

(1.) GDP does not measure economic strength, only the size of the economy. It is generally positively correlated to economic strength but the strength of correlation varies from country to country depending on their population growth, spread of wealth etc. There is no single neo-classical method for measuring economic strength, but there are various indicators that inform analysts of the strength of the economy.

(2.) It depends on the country in question's method of calculating consumer spending. Consumer spending is the variable in the GDP equation for which population may be factored in. The effect of wrong population figures on GDP is somewhat nuanced in developing countries where Consumer Spending will only make up a small percentage of GDP - less than 20%. Compared with Yankee where 70% of GDP is from Consumer Spending, the effect of having wrong census figures in Nigeria is not pronounced. It only becomes pronounced when we calculate GDP per capita, where our overinflated census figures reduces our GDP per capita putting us at the bottom of any development index.

Hold up. . . . this line from Aquaman just dawned on me. . .

Me beatin' u 's 'bout possible as pigs flyin',true//
So please call me Victor cos we all heard swine flew//


In light of this, I give extra points to Aquaman bringing him level with Mykali. . . . pls cancel my vote. . .

I call this battle a DRAW!

They better deregulate PHCN. . . . NLU can go phock themselves.

Eminem has started getting his mojo back. . . . I saw this yesterday. . . this is not a freestyle. . . the only person freestyling there was KRS ONE. . . .

^^^ I dont think Mykali ripped Aquaman. . . . Aquaman put up a good show, but didnt have as many lines as Mykali. . .


Eldee, you wicked o!. . . . these nuccas aint forgotten at all. . . . . hehehehehe


Aquaman came with some intelligent spits, and Mykali impressed me with his flow and a few of his lines. . . .



Lemme quote ma favourites. . .

Aquaman:
A words enuff for the wise, so hw many do I giv to u?//

Gunshots!

Aquaman:
U r tarnishd metal,My value transcends [jewels]//
your skil is dilute, cant match wat [He brew]//

Nice play on dilute and brew.

Aquaman:
Eldee forget this Child,no point keepin' scores//
I cant play wit Mykali, cos he aint [bring no balls]//

Good hit!


I couldn't really go with the wordplay thingy's cos they were a bit forced IMHO

-----------------------------------------------------------------------------------------------------------------------------------

Mykali:
him defeatin' me? even if we battled in an ''aquarium''
''i'll bury him'' then let God judge him and query him//
i intoxicate him/ put his mind to a state of delirium
my lines like his chick's boobies cuz he's always feelin 'em//

Im feeling the flow right here. . . . Aquaman cant win in an aquarium. . . nice. . . .the boobies feeling lines are a bit generic though.

Mykali:
he wish he were me but that horse dont wanna be ridden
he pleading ''Mykali you'se so ill, tell me the reason''//
i aint yielding/ and i'm a ''fat ass bytch'' to this heathen
he likes my[i]''behind''[/i]/ cuz i'm always gonna be ''leading''//

Nice flows, and maintained over a long stretch of bars. . . .

Mykali:
spitting garbage/ aint even the best act from his village//

lolz

Mykali:
he'll never cause damage with his ass glued to a wrecking ball
homie used to have a frown till i put his face to the pressing board//
he'll never be bedding broads bcuz his di.ck is a paradox
and he cant ''raise it from the dead'' yet it's name is ''Lazarus''//

Nice flows again. . . . his d*ck is named Lazarus, but it's a paradox. . . . hehehehehe

-------------------------------------------------------------------------------------------------------------------------------


The last line from Mykali puts him in the clear. . .


Punches - Mykali
Flow - Mykali
Creativity - Aquaman (quite a few of Mykali's lines were generic)
Metaphors - Aquaman
Multies - Mykali steals this because of the wrecking ball/ pressing board combo.


Vote: Mykali, but Aquaman could have taken this if he had more lines.

The ranking does not favour central midfielders at all. . . .Lamps and Gerrard are the only midfielders in the top 20. . . . no Xavi, no Iniesta. . . . this ranking is officially rubbish!

Any ranking that has Adebayor in the top-20 considering his lazy performances for Arsenal last season is a joke.

Some people are just too proud to admit that they had no clue what SLS was talking about. Instead of admitting their faux-pas, they choose to yarn hot air about this, that and the other to cover it up. It seems some of the fiercest critics are some of the least knowledgeable on the subject.

rasputinn:
You think the idiots in Abuja would have paid any attention to our region if not for the fact that the boys nearly brought the economy to a halt,with crude export nose-diving from 3 million BPD in 2007 to 1.4 million BPD in 2009,thanks to the action of the boys.

The FG knows that if they don't dangle enough carrots,crude exports may come to zero and the effect would be so catastrophic,hence they came up with an amnesty package for people that were not on trial in the first place,not to talk of being in prison

The boys done well!. . . . . still, more to do. . . .watch this space.

Im not ready to wait for slow coaches like Sauron and Streetwize to get into gear. . . . Im ready to face Mailmalc tomorrow. . . .Mailmalc, abeg confirm. . . remember, the motto of Warcraft RAMPAGE is "no long thing!" 

Anelka isnt arrogant, he's just shy. . . . I believe that he is now happy for the first time in his career, not because of anything other than the fact that he has been accepted as part of a group, despite all his quirks and idiosyncracies. . . . much props must go to Drogba for helping him settle in and coaxing his shyness out of him. . . . infact, one cannot overstate the effort that Drogba goes to to ensure that all African and Black players are settled in at Chelsea. . .

Anelka IMHO, is now one of the top 4 wide-forwards in the world, along with Ronaldo, Robben and Ribery. . . . honestly, Anelka can ghost away from players at will and deliver accurately into the box. . . he can come deep, pull wide, play uptop, release passes, finish intelligently. . . . his form is truly outstanding.

Kobojunkie:
Oh, now we admit that some of our politicians are likely to steal the money rather than apply it in developing the ND. Are we now admitting that corruption is one of the primary reasons why development has been stalled?

I guess this is addressed to me. . . . development has never been the crux of the issue with the Niger-Delta struggle. . . . rather, we talk about resource control and land rights. . . . infact, Maslows heirarchy of needs states that increased development of Niger-Delta will only awaken the people to call for increased devolution and resource control. . . . . corruption being endemic in society is what it is. . . . but corruption is no excuse to deny rights. . . . it is rather nauseating to use corruption as an excuse, especially when the tools for fighting corruption lie in the hands of the aggressor.

Show us your picture as a girl, then lets look at ya picture as a boy. . . .

Otherwise, this is tales by moonlight. . . .

Borat, we're tied on points. . . . . the fact you appear above me on the table is just a quirk of presentation. . . . you will one day tell your grandchildren that you once had the good fortune to pull level on points with MEND FC.

Did any of you's read this piece in The Sun yesterday:


http://www.thesun.co.uk/sol/homepage/sport/sunsport_columnists/2702575/Its-time-to-Sturr-yourself.html


[size=14pt][center]Its time to Sturr yourself[/center][/size]


YOU are 20 years old, earn £60,000 a week and play football for a living.

Life is sweet, huh? Well, Daniel Sturridge seems to think so. Others, though, are not so sure.

Yes he's rich, young and talented enough to be hailed as one of the best prospects in English football.

And as a result he swapped Manchester City for Chelsea last summer where he expected to become 'The Next Big Thing'.

But it's not quite worked out that way so, as George Best was once famously asked, where did it all go wrong?

Well, let's start on the pitch. Anyone who saw Chelsea's four-goal romp against Atletico Madrid last week might have noticed Sturridge.

He was one of the guys in fluorescent bibs warming up on the sidelines before making a very brief and rare appearance near the end. In fact, he got a whole 12 minutes when he replaced Nicolas Anelka - but it was his Champions League debut for the Blues.

His Premier League appearances (all two of them) have totalled 17 minutes. So out of more than 21 hours of competitive football played by Chelsea so far this season Sturridge has been involved in 29 minutes.

Not quite the big impact that was expected from the lad nicknamed 'Studge' by his team-mates.

Unfortunately, 'Studge' is not the only thing the young striker has been called by some of his fellow professionals.

Arrogant, aloof, complacent and wasteful are a few of the other adjectives which, no doubt, have bounced around Chelsea's Surrey training HQ over the last three months.

His attitude in training has often not been as good as others as has his reaction to the lack of game time he has been given.

Until recently, though, Sturridge was seemingly either unwilling or too big-headed to realise that if you don't put the effort in on the training pitch you won't be considered for the real thing.

Senior players have taken him aside and had a quiet word - some of it critical but lots of it aimed at encouraging him to change and realise his potential.

It's not that Sturridge is disliked by his team-mates, most of them recognise the value he could be to Chelsea and are frustrated with him.

Boss Carlo Ancelotti had no input on his signing, which was done before he arrived and was mostly on the advice of Academy director Frank Arnesen.

The manager gave him a chance during the pre-season tour of America, where he looked like a player who could make a real impact.

Even former boss Jose Mourinho remarked on Sturridge's talent after his Inter side lost 2-0 to the Blues in California.

It was also Mourinho, however, who gave an insight into why young players' heads are turned away from football and towards its rewards instead. Mourinho said last weekend: "It's a generational problem with young players today.

"Twenty years ago, at age 20, you were a man. Today it's a rarity to find guys that age who aren't surrounded by hangers-on who destabilize them.

"Guys who don't just think about money and driving a Ferrari or a Bentley, guys who are willing to work hard and be professional."

Mourinho was responding to a question about Inter's protege, Mario Balotelli, but the depiction is true of many young footballers.

Sturridge has spent most of his life surrounded by people telling him he is the best already - not just going to be.

And he's not the only young hopeful whose career would suffer from believing his own hype.

Not so long ago, David Bentley was considered a world beater - now he cannot even put up a fight for a place on the bench at Spurs.

When Sturridge arrived at Chelsea, displacing two of the best strikers in the business in Didier Drogba and Anelka was always going to be a tall order.

At the same time, the erratic Salomon Kalou is next in the pecking order while Ancelotti has put a quality striker at the top of his transfer wish-list for January should the club be allowed to sign players.

So what next for the young Englishman? Well, three weeks ago Ancelotti decided to offer Sturridge some very good advice.

With Drogba and Kalou missing for up to a month at the turn of the year on African Nations Cup duty, there is a chance to grasp the nettle.

If he bucked up his ideas and put the work in, partnering Anelka in a crucial phase of the season was a very realistic prospect.

By all accounts, Sturridge's response has been positive. He's running faster, working harder and showing he's worthy of the faith Chelsea showed when signing him.

He is in line to start tonight's Carling Cup match against Bolton and has been told the real prize of regular football is still his to win.

It's the biggest challenge of his career to date and one he cannot afford to fail.

texazzpete:
We're talking about sustainable development that will improve the lot of ND people for generations to come and all you can think about is short term share of the national cake?

Nah. . . . I agree with the guy. . . . why should he trust some politician not to steal the N200bn going by antecedents?. . . . . perhaps it would be better if they just shared the money amongst the people like they do in Ireland, Qatar, Alaska etc.

Beaf:
You guys jumping up about GDP are just joking, ain't you?
Does GDP take a countries debt (personal and public) into consideration? No, by some serious voodoo, debt is counted as part of the size of GDP!
They try to tell you that your econs teacher and common sense are wrong about profit and loss. Thankfully, that era of voodo economics has passed with Lehman et al, rightly swept away by the Global economic meltdown.

Purchasing Power Parity (PPP) is the sensible measure to use. It shows Nigeria sitting in disgrace among the poorest of World economies.

Sanusi is a clown, fooling himself at Nigeria's expense

No need to pipe up. We are all speaking the same language with different dialects; that the common man sees no benefit in any economic growth. However, claiming that Sanusi is a clown because of his statement is where you fumble.

It is only on Nairaland that you meet people who re-write the rules of what attains widely in the sphere of economics.

Economics like any sphere of science has defined axioms, not open to debate; one of which is that "economic growth" solely refers to change in GDP.

http://en.wikipedia.org/wiki/Economic_growth

Is Sanusi's statement stupid?

Of course not. If he defined "economic growth" as anything other than change in GDP, that is when you should be worried that your CBN Governor doesnt know his onions.

The terminology used by Sanusi for economic growth is the same one used by Mervyn King, Ben Bernanke and all central bank governors. Sanusi never made a claim on living standards, purchasing power or bla bla bla, neither did he say that your life will become better as the economy grows. It is a display of one's sciolism to say that anyone who claims that Nigeria has a bigger economy than Ghana is talking rubbish. Bigger does not have to mean better. Its a simple statement of fact.

The factors which make up a countries GDP are net exports, consumer spending, Investment and Government Spending. As you rightly said, debt can boost a countries GDP if Government borrows money and then spends it, but that is not Nigerias problem because we have a surplus. As I have said on this thread, the main inaccuracy in Nigeria's GDP figures lies in the "Government spending" part of the GDP equation; because due to corruption, the true value of goods and services bought by "Government spending" are never of the same value as that written on the books.

Nezan:
It is only Niger Deltans that are enjoying in this administration.

Of course, you would get benefits if you fight for your right.

Anyway, development is never what we asked for. We asked for control of our own resources. Hopefully, we will achieve that one day.

Apart from RichyBlack, I think all of you should defer to my superior knowledge when arguing political issues from now on.

How can a nucca in the UK know more about your politics than you? I must admit to guessing about the chair of the finance committee looking into the public health option, and also making an informed guess on troop numbers in Afghanistan.

https://i36.tinypic.com/24yadnc.jpg

2 years suspended sentence?. . . . why did Angola not make shakara?

Same thing happened when Margaret Thatcher's son was involved in the coup plot in Equitorial Guinea.

Again, no need to confuse issues.

In economics, when we talk about economies growing or contracting, we are talking simply about GDP.

When GDP grows, the economy has grown. When GDP falls, the economy has contracted. When GDP falls 2 quarters in a row, you are officially in recession.

No economist would be shocked at Sanusi's statement because they know precisely what he is talking about. . .  his statement is not an extraordinary one.

[quote author=H.J link=topic=343094.msg4820404#msg4820404 date=1256790480]Eldee been thinkin, since wordsmith aint got a battle mate. Hook me up wit him, so as to complete the fourth rampage battle. Holla at your boy.[/quote]C'mon bruv. . . . The Rampage series is only for battles feauturing Ibime. . . .its called Rampage because of the volumetric no of battles in a short period of time. . . .  don't infringe my copyright. . . . get your own pay per view series 

RAMPAGE is still subscribing. . . . I need more emcees to complete the series. . . . perhaps I can take that battle with Wordsmith. . . . I hope to round up the Rampage series by next week. . . . Mailmalc, Wordsmith and anyone else who's willing to square dance. . . . but the motto of the series is "no long thing". . . . as soon as we agree on the battle, you must be ready to drop ya verse within 48 hrs. . . . thats what makes it Rampage!

My pleasure HJ. . . . thanks for the battle. . . . thanks to everyone who voted. . . . Malthuss, Street, Mykali, Sauron, ninjitsu, ofoka and Mailmalc. . . . and thanks to Eldee for refereeing the match.

Eldee, Im ready to pen bars for RAMPAGE 3. . . . . can you set it up with Mailmalc. . .

Finally, I feel like I've only lost one battle to Street considering I didnt know what I was letting myself into in the first battle . . . . I believe Im entitled to a final rematch. . . . . Phucking hell. . . . Ali and Joe Frasier fought each other 5 times. . . . Im sure NL would like to see another royal rumble. . . . plus Im killing it right now. . . .

Sagamite:
Please what pubication? So I can take note of him.

If you are correct, I would love to cut and dice him on NL.

Yeah. . . .he's a freelance journalist. . . . you might see him on thisdayonline every now and then. . . . his Nairaland username is Jarus

[quote author=na_so link=topic=344079.msg4817663#msg4817663 date=1256747862]Its all about a big economy of unequitably distributed income , where we will produce many more copies of  Bode George, Tony Anehne et al, while living standards keep deteriorating.    [/quote]hehehehe. . . . were you not the one supporting Erastus Akingbola and Cecelia Ibru them. . . . whats the difference between them and Bode George?. . .they are all thieves. . . . .certainly, a big economy means nothing if Govt monies are swindled by politicans. . . .I suspect a large portion of Nigerias GDP comes from Government spending . . . . if the Government spending truly filters down to the people, then as our GDP grows, we should have better standard of living. . . . . but as we all know, what we classify as "Government spending" in our GDP calculation is actually a false figure because all those monies are diverted to foreign accounts.


One thing I would add though, is that anyone (Sanusi included) attempting to predict the size of the Nigerian economy in 2012 without being able to predict the price of a barrel of oil in 2012 is engaging in an exercise in futility.

nateevs:
Bros as far as I am concerned, all those players are forwards. Wide forwards. . . Not wingers.
A winger is SWP, Lennon, Walcott, Young, Robben Giggs, Beckham.

Joe Cole never played as a winger in Chelsea . . . He played as a forward. A wide forward.

The problem here is one which is constituted by the 4-4-2 and 4-5-1/4-3-3 dichotomy.

The parameters by which you classify wingers no longer exist because no-one hugs the touchline in the traditional sense anymore except Lennon and Walcott. Wide-forward is the new winger. In a 4-3-3, all wingers become wide-forwards. There is no discrepancy here, we are all ostensibly speaking the same language, but with different dialects.

The rule of thumb is that anyone who's tactical responsibility is to mark the opposition full-back when his team is on the backfoot can be considered a winger. During Chelsea's days of 4-3-3, Joe Cole was therefore a winger. . .

Evidence so far shows he is an average winger. . . . perhaps he can prove himself a more adept playmaker.

Ghana is nowhere near Nigerias economy. In economic terms, when they talk about economies growing or contracting, they are talking solely about GDP. Yeah Ghana may have a better standard of living, perhaps a better GDP per capita, but their economy is certainly nowhere as big as ours. Like someone said, I doubt whether Ghana's whole economy is as big as Lagos sef. 

iykedare:
[size=16pt]IF R.MADRID AND BARCA WERE TO BE IN THE ENGLISH PREMIER LEAGUE,WHERE IN THE TABLE WOULD THEY FINISH?

TO ME O,R.MADRID WOULD STRUGGLE TO BE IN THE TOP TEN.BARCA WILL ALWAYS MAKE  TOP 3 BUT MAY NOT WIN IT AS FREQUENT AS THEY O IT IN SPAIN.WHAT DO U GUYS THINK?[/size]

Barca would win the league every season cos Sunderland, Stoke, Bolton etc will not have a clue how to play them. . . . they may lose to the big 4 or 5 but they will collect maximum points from their other games. . . . Madrid will finish top 7.