₦airaland Forum

thebosstrevor1:
Seun is wrong

Printing money isn't an issue.

The way you guys think about printing money is strange.

Printing money does not cause inflation. Money is unlimited also Money is digital not physical.

If government prints more money, that also means there will be lot of cheap money for banks to loan out for production which in return will create economy opportunities for people.

The central bank increase or decrease money supply by buying or selling banks securities to increase and decrease the amount of money in banks eserves.

What actually cause inflation is when too much money is pursueing fewer goods.

For instance, Rice, when the demand of rice is high and the production of rice is low, the price of rice will increase causing inflation.

The best solution is to fund production to meet demand and the price of rice will fall

2) Economic prosperity is created by spending and not by hoarding, if nobody spends, there won't be economic growth.

3) Import substitution is still the best way to build an economy and improve local industrialisation in the long run. No developing country grows their industrial capabilities by comparative advantage...comparative advantage for a developing country like Nigeria will encourage dumping of low quality and cheap goods into Nigeria.

The fact is Economic growth need to match money supply growth to reduce Inflation

Your cash/Fiat money is a physical money..
Cryptos are digital.

Printing more money is an issue. Inflation is caused when too much money is pursuing same goods, not necessarily fewer.

Economic prosperity is created by increasing economic outputs. Not by spending or hoarding. When there are skilled workers and infrastructure to improve productivity, then there will be economic growth.

Import substitution has been proven to infact limit economic growth.. Check countries that are implementing the policy and see how bad their economy is.

Phamo0:
Your cash/Fiat money is a physical money..
Cryptos are digital.

Printing more money is an issue. Inflation is caused when too much money is pursuing same goods, not necessarily fewer.

Economic prosperity is created by increasing economic outputs. Not by spending or hoarding. When there are skilled workers and infrastructure to improve productivity, then there will be economic growth.

Import substitution has been proven to infact limit economic growth.. Check countries that are implementing the policy and see how bad their economy is.

Exactly, I always wonder why people will see danger and still overlook it. Some people warned against voting for Buhari but they never listened, see where we are today.

Rilwayne001:
How can you promote export if you're not producing enough to cater for the huge population?

We export the things that we are best at producing, and we use the dollars from that to import the things other countries produce better.

So in agriculture, for example, we live in a tropical climate. In the south we have a tropical rainforest climate which is ideal for tree crops like cocoa and oil palm that most countries cannot produce well. Our hot and humid weather however is not ideal for wheat because wheat is a temperate crop. So instead of trying to grow our own wheat, it makes more sense for us to invest massively in cocoa and oil palm which most countries do not grow and need, export them, and use the forex earned from cocoa and oil palm and other things to import wheat.

Seun:
We export the things that we are best at producing, and we use the dollars from that to import the things other countries produce better.

So in agriculture, for example, we live in a tropical climate. In the south we have a tropical rainforest climate which is ideal for tree crops like cocoa and oil palm that most countries cannot produce well. Our hot and humid weather however is not ideal for wheat because wheat is a temperate crop. So instead of trying to grow our own wheat, it makes more sense for us to invest massively in cocoa and oil palm which most countries do not grow and need, export them, and use the forex earned from cocoa and oil palm and other things to import wheat.

Make sense!

Phamo0:
Your cash/Fiat money is a physical money..
Cryptos are digital.

Printing more money is an issue. Inflation is caused when too much money is pursuing same goods, not necessarily fewer.

Economic prosperity is created by increasing economic outputs. Not by spending or hoarding. When there are skilled workers and infrastructure to improve productivity, then there will be economic growth.

Import substitution has been proven to infact limit economic growth.. Check countries that are implementing the policy and see how bad their economy is.

1)Fiat money is digital. Money is more than banknotes

The figure is your bank account is digital, the physical money is just a representation of the digital figures in your account. And digital money is more that the physical cash.

A bank can create new money by giving out loans, when the banks gives you loans, they credit your account with digital money which you can then cash out with paper money from the counter or atm, when you pay back that digital money created is deleted.

2) inflation happens when too much money is pursuring the same goods, what is the difference with what i wrote, if the demand of the goods does not equal supply, price will increase thus causing inflation of that goods.

3)EConomic prosperity is created by increasing economic output, if nobody is there to buy the output, how then will economic prosperity happen. Spending is a way to encourage economic prosperity. In the developed world, people are encouraged to eat outside so that they can spend their money in restaurants to prevent those restuarant from getting broke, if they go broke that also means it will add to increase unemployment

4) i have not seen where import substitution limit economic growth, infact protecting your small manufacturers help in creating jobs and also help in local production, isn't that what china are doing to their manufacturers and Americans and Europeans doing to their farmers, they protect and subsidize them and most times put laws to protect that sector from outsiders

When he says "spend more," I believe he means "steal more." Nigeria's problem is not a lack of funds; it is the responsible distribution of available resources for the benefit of the country. Politicians like Tinubu steal more than 70% of the resources that should have gone into activities and infrastructures that will help to keep the country afloat.

Another vagabond like Tinubu will mean the tragic end of a country that never existed. OBIDIENT is a must,not a choice.It is good over evil and knowledge over ignorance.

AirFireEarthH20:
Are you people now surprise or what? Tinubu once told Buhari to print more naira notes. Those pushing Tinubu for Presidency would later cry when their economy is totally destroyed causing unprecedented insecurity in the country when people will go rogue just to survive.

Thiefnubuu is clueless economically. He reminds me of Idi Amin who ordered the printing of more notes when economic sanctions were handed to him.

thebosstrevor1:
1)Fiat money is digital. Money is more than banknotes.

The figure is your bank account is digital, the physical money is just a representation of the digital figures in your account. And digital money is more that the physical cash.

A bank can create new money by giving out loans, when the banks gives you loans, they credit your account with digital money which you can then cash out with paper money from the counter or atm, when you pay back that digital money created is deleted.

2) inflation happens when too much money is pursuring the same goods, what is the difference with what i wrote, if the demand of the goods does not equal supply, price will increase thus causing inflation of that goods.

3)EConomic prosperity is created by increasing economic output, if nobody is there to buy the output, how then will economic prosperity happen. Spending is a way to encourage economic prosperity. In the developed world, people are encouraged to eat outside so that they can spend their money in restaurants to prevent those restuarant from getting broke, if they go broke that also means it will add to increase unemployment

4) i have not seen where import substitution limit economic growth, infact protecting your small manufacturers help in creating jobs and also help in local production, isn't that what china are doing to their manufacturers and Americans and Europeans doing to their farmers, they protect and subsidize them and most times put laws to protect that sector from outsiders

First, I am not an economist. I say what I think is general knowledge that everyone knows and can check on Google.. So I can't argue much.

with that out of the way,

Again Fiat money is not digital. Fiat is your banknote, cash , physical, tangible, what you can hold and see. The numbers in your bank account are digital, I am not disputing that fact. It's a digital representation of how much your bank is owing you.. There are people who don't have bank account and are still spending money...

You said fewer goods, and I said
not necessarily fewer ..


Spending doesn't CREATE economic prosperity.
maybe you meant to say that division of labor helps to distribute wealth to the people thereby
propagating prosperity.


Brazil and India are one of the countries who left ISI for Export ... if I can still remember TPD502, we argued against import substitution.. you can't really say one policy is bad or one is good but check countries who tried it in the past, and see the state of their economy ..
And as for China, yes China is implementing ISI also note that China is also the largest exporter in the world.

Phamo0:
First, I am not an economist. I say what I think is general knowledge that everyone knows and can check on Google.. So I can't argue much.

with that out of the way,

Again Fiat money is not digital. Fiat is your banknote, cash , physical, tangible, what you can hold and see. The numbers in your bank account are digital, I am not disputing that fact. It's a digital representation of how much your bank is owing you.. There are people who don't have bank account and are still spending money...

You said fewer goods, and I said
not necessarily fewer ..


Spending doesn't CREATE economic prosperity.
maybe you meant to say that division of labor helps to distribute wealth to the people thereby
propagating prosperity.


Brazil and India are one of the countries who left ISI for Export ... if I can still remember TPD502, we argued against import substitution.. you can't really say one policy is bad or one is good but check countries who tried it in the past, and see the state of their economy ..
And as for China, yes China is implementing ISI also note that China is also the largest exporter in the world.

So google is where you got your information from.

I told you many times that money is digital, you are still stuck on the idea that money is only about physical cash


How then do you think those who get money in physical paper get it?

Through trade, remittance, gifts and other

I have even explained how money is created when banks give loans.

2) if too much money is pursuing goods, what do you think will happen to that goods? Wont it finished? Wont the producer make sure it produce more goods to meet demand? If the demand cant be reached, what do you think the producer will do? Wont he increase price so that only those who cant afford will buy it?

3) you claim spending does not create prosperity, then how will salaries be paid if nobody spend, how will producer make profit, if nobody spend, how will government get tax from Vat, if nobody spends?

4) you said brazil and india left import substitution for export, how are they going to create export if they left import substitution.

Maybe you are misunderstanding what import substitution is

The logic of import substitution is this?

Why import chickens when one could rare chickens at home and employ workers in doing so?


If government do this, won't jobs be created, won't excess production be left for export?

thebosstrevor1:
So google is where you got your information from.

I told you many times that money is digital, you are still stuck on the idea that money is only about physical cash


How then do you think those who get money in physical paper get it?

Through trade, remittance, gifts and other

I have even explained how money is created when banks give loans.

2) if too much money is pursuing goods, what do you think will happen to that goods? Wont it finished? Wont the producer make sure it produce more goods to meet demand? If the demand cant be reached, what do you think the producer will do? Wont he increase price so that only those who cant afford will buy it?

3) you claim spending does not create prosperity, then how will salaries be paid if nobody spend, how will producer make profit, if nobody spend, how will government get tax from Vat, if nobody spends?

4) you said brazil and india left import substitution for export, how are they going to create export if they left import substitution.

Maybe you are misunderstanding what import substitution is

The logic of import substitution is this?

Why import chickens when one could rare chickens at home and employ workers in doing so?


If government do this, won't jobs be created, won't excess production be left for export?

Ok.

He backs Peter Obi.

SolidWind:

E hard to tell where this Seun stand.

You have an extremely limited understanding of how basic liquidity works.
Money is digital? In Nigeria? Even in the United States they're still trying to figure out how to come up with a regulatory framework for digital currencies and you really believe that in Nigeria we have mastered it?
Nigerians are truly a special breed.

thebosstrevor1:
So google is where you got your information from.

I told you many times that money is digital, you are still stuck on the idea that money is only about physical cash


How then do you think those who get money in physical paper get it?

Through trade, remittance, gifts and other

I have even explained how money is created when banks give loans.

2) if too much money is pursuing goods, what do you think will happen to that goods? Wont it finished? Wont the producer make sure it produce more goods to meet demand? If the demand cant be reached, what do you think the producer will do? Wont he increase price so that only those who cant afford will buy it?

3) you claim spending does not create prosperity, then how will salaries be paid if nobody spend, how will producer make profit, if nobody spend, how will government get tax from Vat, if nobody spends?

4) you said brazil and india left import substitution for export, how are they going to create export if they left import substitution.

Maybe you are misunderstanding what import substitution is

The logic of import substitution is this?

Why import chickens when one could rare chickens at home and employ workers in doing so?


If government do this, won't jobs be created, won't excess production be left for export?

GreatAxeMan:
You have an extremely limited understanding of how basic liquidity works.
Money is digital? In Nigeria? Even in the United States they're still trying to figure out how to come up with a regulatory framework for digital currencies and you really believe that in Nigeria we have mastered it?
Nigerians are truly a special breed.

You still dont grasp simple concept of money

The majority of money is digital, physical cash is just 3%, digital money are created when banks give loans and money are destroyed when you pay back loans.

On bank liquidity, when a bank has liquidity, it literally means its balance sheet are good and that assets are more than liabilities. When a bank does not have liquidity, it means liabilities are more than asset

thebosstrevor1:
Seun is wrong

Printing money isn't an issue.

The way you guys think about printing money is strange.

Printing money does not cause inflation. Money is unlimited also Money is digital not physical.

Every crypto trader too thought money was unlimited because it was not physical it was digital.

Now? They bellying up in droves.

https://wolfstreet.com/2022/10/17/the-1001-imploded-stocks-of-2022-down-80-or-more-so-far/

thebosstrevor1:
You still dont grasp simple concept of money

The majority of money is digital, physical cash is just 3%, digital money are created when banks give loans and money are destroyed when you pay back loans.

You included gifts earlier I think, but you left out a fundamental factor in the creation of money which is the sweat of one's brow.

Money, as far as many individuals might be concerned, is not a loan or a gift, but includes their earnings from investments or their labour.

One works, and a wage (in money) is paid to one, is how most create their money, be it physical hold in one's hands money or in bank money.

In fact one might want to consider if the bank loan is not charging a profit on labour since paying interest decreases earned unit of money per labour time.

tamudabu:
Every crypto trader too thought money was unlimited because it was not physical it was digital.

Now? They bellying up in droves.

https://wolfstreet.com/2022/10/17/the-1001-imploded-stocks-of-2022-down-80-or-more-so-far/

I will tell you that money is still being made in a down turn market

As i wrote earlier, money is unlimited and abundant

tamudabu:
You included gifts earlier I think, but you left out a fundamental factor in the creation of money which is the sweat of one's brow.

Money, as far as many individuals might be concerned, is not a loan or a gift, but includes their earnings from investments or their labour.

One works, and a wage (in money) is paid to one, is how most create their money, be it physical hold in one's hands money or in bank money.

In fact one might want to consider if the bank loan is not charging a profit on labour since paying interest decreases earned unit of money per labour time.

You are mistaken

The loans people take from banks are used to pay salaries and used to create labour.

For instance, if a business man takes loan to grow his business, once the bank credit his account, he can use the money to buy equipment, the guy he is buying equipment from, will use it to pay his suppliers and also workers. That is how physical money circulates, a loan is the engine for development.

Out of point, we are not discoursing about history or Tinubu background but his prospective economics policy

NigeriaIsGreat:
Nigerian baby politicians and their ego. Amaechi confessed he is scared to enter his State because of Wike.

Is that the President Nigeria needs? While Tinubu was a deliberate and methodical politician, Osinbajo was drafted into politics.

There is nothing in his nature that indicates he would not have happily remained a comfortable middle class lawyer had he not met Tinubu.

Meanwhile Tinubu is a politicians Politician. A deliberate leader of leaders. He was a Senator in his late thirties.

He was fighting Abacha in an organised fashion, through NADECO, at an age most Nigerians today are still trying to decide what they want to do with their lives.

Amaechi, Osinbajo etal should drop ego and support Tinubu or they can get lost. How many battles have either won and what battle has Tinubu, who has faced more than most, lost?

Some will mention Obi. The coward was pleading with OBJ on his knees yet still got impeached. Tinubu not only stood up to OBJ but totally retrenched Obasanjo's influence, through the PDP, from the SW.

Nigerians are too petty and tribalistic. If not it will be obvious only Tinubu can weild power productively on behalf of the South today.

Buhari did same.on behalf of the North because he is authoritative and as iconically supported as Tinubu is.

Difference is that Tinubu is fairer, more tolerant,and more detribalised and more modern than Buhari. He will get more results than Buhari by far.

We should not waste the turn of the South indulging weakling any section of the country would bully with ease as happened to GEJ. Are we not ashamed at how terrorised Nigeria is becoming because North does not want to grant Nigeria modern and more effective policing and security architecture?

US, UK and European nations are evacuating their citizens from Abuja currently and we are still clowning around. The rescue mission belongs to Tinubu alone.

I am tipping Tinubu to be an Awolowo of today. A father of the rebirth of Nigeria. He will never fail.Unless of course death stops him.

thebosstrevor1:
I will tell you that money is still being made in a down turn market

As i wrote earlier, money is unlimited and abundant

The ability to make that money is what is not abundant, the. Just look at the examples we are giving to see how our perspectives differ. For you, business man loan, while for me, the sweat of my brow.

So, Gods, make money unlimited and abundant for me like you've made it for thebosstrevor1 please, and double thebosstrevor1's own too. But make my own non-refundable and non-repayable because you all know I don't like debt. Amen.

I called Gods because I'd need all the whatever it is they do.

id911:
If anyone has taken the time to read the economic policy documents of Bola Ahmed Tinubu and still goes ahead to vote APC in the presidential election, don't complain when $1 =100000 naira and a loaf of bread becomes 50,000 naira before 2025.

Zimbabwe loading...

https://twitter.com/seunosewa/status/1583433094824329217

One of the tactics Franklin Roosevelt used in lifting America out of the depression was serious spending. This Seun is not good in economics.