₦airaland Forum

GreenandGold:
The presentation slot first, then we talk

GreenandGold:
Get me a presentation slot at Armscor, I'll happy to reveal my buffed-up Ratel.

GreenandGold:
Is Armscor taking designs, I have a few I have been doing as a teen

NTSA:
@rvp whats your take.?

Just30:
Leave that guy... He knows nothing about economics

rvp2018:
Deflating what? That something I taught you today hunter

rvp2018:
Real gdp is only relevant to that country- - everything is local
For international comparison - we used USD - as defacto -- everyone converts to it - therefore usd/rand exchange matters here.
Because of some weakness in the above - we try to come up - with middle ground - by developing PPP basket of goods like big mac index.
So PPP now (world bank ICP) basically go round the world finding out the price of bread - and then try to standardize - because bread is bread.
This PPP team basically collect prices worldwide and try to compare them - and deflate them.

rvp2018:
I dont think you know crap. You would have known Penns world table.

Just30:
you still don't get it.

By the time all this appreciation is done, you'll see that Ghana GDP for 2023 will be calculated at the old base price to be far above Kenya's.

If they're going to use a much current base price as they have now, it will be even significantly higher

rvp2018:
More reading for the hunter.
PPP are international comparisons - so someone outside South Africa - has to try compare price of bread in almost all countries - and come up with base prices for bread for each.

The last I checked that someone was either university of chicago or two such universities in the US.

This now done by world bank under ICP
https://www.worldbank.org/en/programs/icp

It used by the University of Pennsylvania

The last base years for PPP - 1970, 1973, 1975, 1980, 1985, 1993, 2005, 2011 and 2017 - they should soon release a 2021 one

The ICP celebrated its 50th anniversary in 2018, having grown from a modest research
project in 1968 spearheaded by the United Na�ons Sta�s�cal Division and the
Interna�onal Comparisons Unit of the University of Pennsylvania and supported by
financial contribu�ons from the Ford Founda�on and the World Bank. ICP comparisons
have been completed for 1970, 1973, 1975, 1980, 1985, 1993, 2005, 2011 and 2017.
Country par�cipa�on consisted of 10, 16, 34, 60, 64, 115, 146, 199, and 176 economies
respec�vely. The next ICP comparison will be conducted for reference year 2021.

rvp2018:
I dont we will agree soon.
1) Real GDP - deflate inflation within the country -
2) Nominal GDP (USD) - handles currency appreciation or depreciation using USD as global base price if you will.
3) GDP PPP - is attempt to cure USD inaccurracy esp as some countries just manipulate exchange rate to keep it low mostly.

Real GDP IS Totally LOCAL.
Nominal and PPP - are international.

Youre confusing real gdp in local prices and PPP - which are market prices weighted by USD. These have their own series.
For example South Africa might have PPP that are more up to date than kenya.

Each country develop their own base market prices based on local currency- they just pick a year - and that is that. PPP series last I checked were developed by some university in US with help of IMF - and countries try to adapt them - and keep them up to date.

Now let give you good example kenya.

In last 10yrs - Kenya GDP has almost tripled - from 40B to almost 120B - in nominal GDP.

GDP growth rate alone cannot explain that growth - real GDP is way less.

Country growth in nominal therefore is GDP growth rate + or - currency appreciation/depreciation against USD.

rvp2018:
1) What matters is official dollar rate when full year results are done or at end of the year. There is nothing like short term or long-term currency depreciation. Ghana is therefore ending on a high.... otherwise their nominal GDP would have taken a huge hit. If rand collapse now - your nominal GDP for 2020 will similarly collapse. There are many example - Angola, Sudan, South Sudan, Tunisia, Libya are good example.

Few years ago their economies were great but USD has hammered them.

2) Base prices are not converted into USD. That is nonsense on stilts. Real gdp is calculated entirely on the country currency. And the base price is simply the prevailing market prices of goods and services of a base year. This is why selection of the base year is critical.

3) PPP - is an attempt to fix nominal GDP.

Just30:
Yes ...
Those base prices have substantially increased in cedi term and
Ghana hasn't adjusted that base price since 2015 or 16...
The BOG will be doing so in 2023, which means that should the cedi appreciate any further, GDP will be substantially increase.

rvp2018:
1. How comes Angola GDP crushed from 140B to 70B when their kwacha crushed.

2.GDP of course is calculated from base price from a base year - ideally every 5yrs - for SSA 10yrs is good enough to rebase.

3.This has nothing to do with nominal GDP. That GDP in that country currency.
Then after all that - nominal GDP - to simply divide that by official dollar rate at end of the year.

4. To get GDP PPP - you dont use USD but international basket.
It's that simple.

5. So there are 3 GDPS if you will - GDP in rand (real GDP), GDP in dollars (Nominal GDP), GDP in PPP(as alternative to nominal)

6.The real GDP uses a deflator on the prize (nominal) to remove price changes from the base year - as you want to measure quanties of things produces - not get "confused" by price changes from inflation.

7.GDP is simple maths of price times quantity produced of all goods and services.

8.There is no controversy on the quantiles - it's on the prices or value of good & services - hence many variation of GDPs.

9.You can deflate GDP using the base year (real GDP) or USD or international PPP - but generally USD is the best deflator and nominal GDP in USD is GOLD STANDARD.

Faithful007:
Sense development does not necessarily mean it feels pain. However, abortions generally should be under 15 weeks, things are generally less morbid and gross. Also I don't see why someone who wants to abort a conception should wait longer than a month after detection.

Just30:
You're just stupid ... I don't expect a lunatic to know these.

Wait for December inflation figures ... It will drop to 25%

The cedis only started appreciating last 2 weeks.
By January or February, inflation will be at 12% if we end the year with the Cedis at 4.

At this rate, the Ghanaian economy has surpassed the Kenyan economy in nominal terms at 127 billion dollars and a GDP per Capita of 4,093 dollars

xwolverine:
Isn't it amazing how we are all getting along like one happy family.

While in this good mood, can I interest you in a mutually beneficial swap deal?

13 Gripens for 24 unused Sepecat Jaguars what do you say, eh guys? @GreenandGold, @jl115

GreenandGold:
What we're doing with our part of the Drakensberg

Odunayaw:
Last sensible post of his was in 2018

rugged7:
I'm typing it for your mom. I screwed her big ass yesterday...
Moderfuqqing hypocrites....

Odunayaw:
Very pretty

Odunayaw:
This is the Drakensberg right?

Britishcoins:
Many are wrong answer is 15

Faithful007:
According to medical research, A <25 week fetus cannot feel pain and most abortions happen <6-9 weeks, shortly after the pregnancy is detected.

Abortions are not done because people enjoy doing it. There's nothing to enjoy in an abortion. But babies can come by mistakes and in the US, having an additional baby can mark the difference between comfortable living and outright poverty. There are no social nets. Funny thing is, the same Republicans who are against abortion will still fight any additional social provisions for women.

Fynline:
This is the lie in his statement I was referring to. These days one can not trust what research says anymore because research has shown that the outcome of a research can be designed to push an agenda

Faithful007:
Who told you such?

Abortion bans and forced abortions both toe the same line of not allowing women have a say if they get to keep their kids or not. That's what the Democrats fight for. A woman's right to choose. The same democrats will still fight forced abortions because it is still against women's rights.

NB: Almost all abortions take place when the fetus is not developed and does not feel any pain. Research has proven such.

rvp20182:
I am saying nobody can predict tomorrow or next hour; Dont hide behind those institutions; some of us have worked in all of them.

rvp20182:
I am not. I have used kenya and south africa medium term projections, lots of common sense and last 10yrs, to predict the next 10yrs, plus lots of knowledge on issue facing each country.

Your challenge - what did IMF or WB - predict kenya will be in 2023 in say 2013 or 2010 - and if they were right - I will concede

rvp20182:
Yes I could be totally wrong; I cannot predict tomorrow; leave alone 10 or 15 yrs;

My caveat emptor: Ceteris Paribus. In English - if all things continue they way they are.

Shma2022:
_2024, 2025, 2026, 2027 ------- 5.5%.

rvp20182:
No body can predict anything. It one of hardest thing to do. Nobody saw South Africa tanking the way its done since 2010. People thought it was emerging power in BRIC. Now that look like a big joke struggling against kenya. Nobody saw corona. Nobody saw Ukraine-Russian war bankrupting Ghana for next 15yrs.

Nobody can predict even world cup.

So make your prediction based on data and make a convincing case.