₦airaland Forum

OGALA

Flets:
That is not message. ... the message is $1 = 1 naira.

The whole world got the dumb message

We can come here after they start rolling out their economic team and policies .Or you are going on exile?

Flets:
Remind me of what the topic of this thread is again.

Leave GEJ out of it. Grandpa Buhari wants to perform some economic magic to equate $1 to 1 naira in 4yrs.

Even my a nursery kid will laugh at this.

The message is that of good economic management ,increased productivity and production ,those are the messages that are being passed focus on the impact of the statement.

Flets:
Stop preaching to the choir, both you and Buhari are clueless on this subject. Buhari cannot equate $1 to 1naira in a lifetime.

And any attempt to make it look feasible sounds dumber than Buhari.

A man who cannot remember the meaning of APC and INEC has become the economic magician. You guys are clowns.

He will always have an economic team ,GEJ Phd ,had his own economic team ,but they messed him up big time .They cooked figures a lot and nobody takes them seriously any more.They increased subsidy and increased the poverty in the land after which they promised palliatives which was another big lie.

Flets:
And after you have done all that in 4 years, $1 will now equal 1 naira?

You asked my about variables i told you and you know the APC government will provide some of this variables through good government policies and a good Environment with security,A stable currency is what matters for planning .He did not give the duration and it is an APC Government and they will continue to be in power if they continue to be popular .

Flets:
No need googling responses for me.

If your GDP is in shambles relative to a reference country.... your exchange rate will continue to be a mess. I've told you already that as long as you continue to argue that Buhari will equate $1 to 1 naira..... you will only continue to sound dumb.

The argument is not if the naira can be improved, it is the fact that Buhari can equate the naira to the dollar in four years. And on this point bro, you and Buhari are not making sense.

The statement indicates a stable exchange rate and a better managed economy .Now you complained about goggling when you were asking simple questions and i wanted you to know i understand it very well ,and i splashed it .The fact remains that the productivity levels will increase ,export will be opened up .Many thing will happen.The factories and the industrial estates will be back.There will be improved infrastructures that will boost production and increase production in the economy and it will boost GDP

Flets:
What are the drivers to economic performance?

They are so many and i have mentioned some ,but now tell me what you were driving at now

Flets:
What are the drivers to economic performance?

size of the market ,market environment

Flets:
What is GDP and what contributes to it?
What are the foreign exchange rate determinants?
What are the variables to a nature's economy?

You need some education but I can only do that at my pace

Determinants of Exchange Rates
Differentials in Inflation
Differentials in Interest Rates
Current-Account Deficits
Public Debt
Terms of Trade
Political Stability and Economic Performance

Flets:
What is GDP and what contributes to it?
What are the foreign exchange rate determinants?
What are the variables to a nature's economy?

You need some education but I can only do that at my pace

The gross domestic product (GDP) is one the primary indicators used to gauge the health of a country's economy. It represents the total dollar value of all goods and services produced over a specific time period - you can think of it as the size of the economy. Usually, GDP is expressed as a comparison to the previous quarter or year. For example, if the year-to-year GDP is up 3%, this is thought to mean that the economy has grown by 3% over the last year.

Measuring GDP is complicated (which is why we leave it to the economists), but at its most basic, the calculation can be done in one of two ways: either by adding up what everyone earned in a year (income approach), or by adding up what everyone spent (expenditure method). Logically, both measures should arrive at roughly the same total.

The income approach, which is sometimes referred to as GDP(I), is calculated by adding up total compensation to employees, gross profits for incorporated and non incorporated firms, and taxes less any subsidies. The expenditure method is the more common approach and is calculated by adding total consumption, investment, government spending and net exports.

As one can imagine, economic production and growth, what GDP represents, has a large impact on nearly everyone within that economy. For example, when the economy is healthy, you will typically see low unemployment and wage increases as businesses demand labor to meet the growing economy. A significant change in GDP, whether up or down, usually has a significant effect on the stock market. It's not hard to understand why: a bad economy usually means lower profits for companies, which in turn means lower stock prices. Investors really worry about negative GDP growth, which is one of the factors economists use to determine whether an economy is in a recession.

Flets:
What is GDP and what contributes to it?
What are the foreign exchange rate determinants?
What are the variables to a nature's economy?

You need some education but I can only do that at my pace

You are asking basic questions and i will still answer it one by one and then i will now see if you mean its impossible to have a stronger naira or possible.

IVORY2009:
you are correct, but the measures to be put in place, dat is wat u could not explain.

You mean the monetary policies of government ?You will need to control liquidity in the system and customs are also very important to check the borders for fake currencies .You will need infrastructures that will assist the factors of production to help the cost of goods and services produced in the country to become cheap for export.You will attract investors to invest in the country ,capital will redirect itself towards one direction .we can go to Nnewi and Aba and see businesses that are powered by generator attracting people from west and central Africa.We can support them with electricity roads and airports including hotels .

IVORY2009:
how can you compare a developed country with a developing country like Nigeria, this is the reason while I said you should read macro economics, and I respected you to be discussing stuff like Purchasing Power Parity [PPP], Official Intervention, Economic Health and Intrest rate etc

This are most strongest currencies in the world. we dont need the text book ,we can bring examples from this countries

IVORY2009:
how can you compare a developed country with a developing country like, this is the reason while I said you should read macro economics, and I respected you to be discussing stuff like Purchasing Power Parity [PPP], Official Intervention, Economic Health and Intrest rate etc

Export ,increasing local production and manufacturing for export will boost exchange rate ,i am so sure of what am saying

IVORY2009:
try and read up macro economic by Jehigan, you seems to be poor on economics terms.

There are a few things that a country can do to make the currency stronger. The problem is that you can't change one variable in isolation without affecting other aspects of the economy so it depends on the particular circumstances of the country as to what is the best course of action. Generally speaking though you need to take steps to either attract investors or at a fundamental level improve the export base (ie exchange rates change due to fundamentals and not monetary policy).

The first thing to do though to make the currency stronger, is to stop/slow any form of devaluing the currency through printing money. Next, if you have a reasonable cushion, you sell off foreign currency reserves and buy back your own currency. Third, if your economy can handle it, you raise interest rates to draw foreign investors (this will hurt the various forms of debtors in society though). Fourth, you fill in any gaps with a convincing bluff (investors aren't pushovers or fools though).

The question of why you would make a currency stronger is a valid question. It's much easier to make a currency weaker than it is to make it stronger. Generally speaking, you don't want to strengthen or weaken your currency very fast under normal conditions. If a country is attempting to strengthen their currency it likely means that it's dropping in value quickly (investors are fleeing either due to circumstances in that country or due to better opportunities elsewhere) and in order to keep money in the country and prices steady the government has to take actions to stabilize the currency. Remember, a stronger currency hurts exports (important for jobs) but helps imports (think low priced goods at Walmart). If you attempt to do much more than smooth out the spikes in exchange rates/stop a situation from escalating you'll likely hurt some other part of the economy such as the unemployment rate or homeowners with mortgages.

Source Michael Kosh

IVORY2009:
try and read up macro economic by Jehigan, you seems to be poor on economics terms.

Norwegian Krone
American Dollar
Hong Kong Dollar
Euro
Swedish Krone
Japanese Yen
British Pound
Swiss Franc
Australian Dollar
Canadian Dollar

what are they all doing that we can never do

IVORY2009:
try and read up macro economic by Jehigan, you seems to be poor on economics terms.

Developing countries that have stronger currencies do so by driving export and boosting the local economy through production of goods and services why the central banks intervene using monetary policies to assist and one of such is interest rates ,why are you directing me to a book,when we can see examples from Asia and even recently Libya an oil producing country.

Flets:
No need for going around in circles. Let me educate you. Local activities alone cannot equate naira to dollar

As at 2013 USA GDP stood at 16.8 trillion dollars while that of Nigeria stood at 521 billion dollars. That is 32 times that of Nigeria.

Until we start producing 3200% of what we produce today at a minimum. ... we can only dream about equating naira to dollar.

So quit the argument.

That is one sided argument and you don't need to compare the U.s economy and the Nigerian economy.You are indirectly saying what am saying in another way.so you have not said anything new.I spoke about production , and you spoke of GDP .Is GDP not the total productivity in the country.You can put the refineries to work and reduce areas that take away a large junk of your foreign exchange .it will support the local currency .You have not said anything new at all,There are example of countries with strong currencies .Increase export activities will be very important in strengthening the Naira

quickly:
ur a quack

They are assumptions ,i still have some more ideas

Flets:
You made zero sense economically..... APC products hardly make sense.

How does all that add to your foreign exchange?
Increase tariff on manufactured luxury good you said, which locally produced luxury currently adds to our GDP?
And removing two zeroes sounds like an economic exercise to you rather than academic exercise?

I will advise any sai Buhari crusader that has any shame left to stay silent on this Buhari's gafe. Cos the more uou defend it, the more silly you sound.

Increasing interest rates directly intervening, i said can assist the local currency ,you were quick to play politics in your statement,did you read when i said monetary policy interventions .why are you thinking its impossible.

Flets:
You made zero sense economically..... APC products hardly make sense.

How does all that add to your foreign exchange?
Increase tariff on manufactured luxury good you said, which locally produced luxury currently adds to our GDP?
And removing two zeroes sounds like an economic exercise to you rather than academic exercise?

I will advise any sai Buhari crusader that has any shame left to stay silent on this Buhari's gafe. Cos the more uou defend it, the more silly you sound.

Increasing tariffs on unnecessary goods reduces the pressure on your currency e.g Food imports such as rice ,removing the zeros was a plan that was suspended by OBJ ,so its possible ,it was a Soludo idea back ,and they did something similar in Ghana.

Flets:
Mr critical thinker, kindly share with us in clear terms what he was talking. How does he intend to do it.... if you don't mind... enlighten us the dumb ones

i was just saying that ,you could actually think of many ways that he would be able to achieve it,and i have not fully read the comments,but probably it will be some monetary policy measures such as interest rates. Lower interest rates .This statements indicates one thing to me ,that we will have electricity ,he will concentrate on manufacturing increase tariffs on unnecessary and luxury goods.Or maybe they may probably remove the 2 zeros and 1 Naira will have the same previous value of 100.I am just assuming. And we also consume more of Chinese and Asian goods,so we don't have any business with this currency anymore.My thoughts are assumptions

LEGAL1000:
This morning I heard one of the dumbest things from candidate Buhari, he wants to use "military fiat" to peg the exchange rate of the naira to the dollar. He does not understand what is called deregulation and market forces. The same Buhari wants to establish 4 refineries at a time governments all over the world are leaving direct running of businesses to the private sector by creating the enabling environments. He wants to pay N5,000 a month to 45 Million unemployed Nigerians. At the same time he wants to reduce tariffs on imported vehicles to encourage imports and kill the rejuvenated local vehicle assembly plants. This man is leaving in stone age and dumb. He does not understand the dynamics of the modern economy. He is taking Nigeria backward.

If you have been a student of critical thinking ,you will have the idea of what he his talking about already.

chamboy:
We not feeling the Value nii

True

chamboy:
This advantages of a Presidential system, I meant Major Functions of A President

You can see that it is not a tea party ,Not only chopping money ,but creating and adding value

chamboy:
This advantages of a Presidential system, I meant Major Functions of A President

The roles that a president fulfills are:

Chief of state
Chief policy maker
Chief of party
Chief guardian of the economy
Commander-in-chief
Chief diplomat
Chief executive

chamboy:
This advantages of a Presidential system, I meant Major Functions of A President

The roles that a president fulfills are:

Chief of state
Chief policy maker
Chief of party
Chief guardian of the economy
Commander-in-chief
Chief diplomat
Chief executive

chamboy:
Dont take my words for it check Google.com

The roles that a president fulfills are:

Chief of state
Chief policy maker
Chief of party
Chief guardian of the economy
Commander-in-chief
Chief diplomat
Chief executive

chamboy:
The Problem with us is that we don't know the Major Functions of a President

Criticism and disadvantages[edit]


Critics generally claim three basic disadvantages for presidential systems:

Tendency towards authoritarianism — some political scientists say presidentialism raises the stakes of elections, exacerbates their polarization and can lead to authoritarianism (Linz).
Political gridlock — the separation of powers of a presidential system establishes the presidency and the legislature as two parallel structures. Critics argue that this can create an undesirable and long-term political gridlock whenever the president and the legislative majority are from different parties, which is common because the electorate usually expects more rapid results from new policies than are possible (Linz, Mainwaring and Shugart). In addition, this reduces accountability by allowing the president and the legislature to shift blame to each other.
Impediments to leadership change — presidential systems often make it difficult to remove a president from office early, for example after taking actions that become unpopular.

chamboy:
The Problem with us is that we don't know the Major Functions of a President

Advantages of presidential systems[edit]
Supporters generally claim four basic advantages for presidential systems:

Direct elections — in a presidential system, the president is often elected directly by the people. This makes the president's power more legitimate than that of a leader appointed indirectly. However, this is not a necessary feature of a presidential system. Some presidential states have an unelected or indirectly elected head of state.
Separation of powers — a presidential system establishes the presidency and the legislature as two parallel structures. This allows each structure to monitor and check the other, preventing abuses of power.
Speed and decisiveness — A president with strong powers can usually enact changes quickly. However, the separation of powers can also slow the system down.
Stability — a president, by virtue of a fixed term, may provide more stability than a prime minister, who can be dismissed at any time.

chamboy:
The Problem with us is that we don't know the Major Functions of a President

what are the functions of a president in a presidential system of government?

lomomike:
@ your thread caption

O gyal, were you 'sleep typing' this rubbish or you were high when you typed it? SMH for youths of Nigeria.

Just noticed ,sorry