₦airaland Forum

I think they already printed rand to buy gov bonds because the South Africa investment analysts was advising their clients to buy zero gov bonds. I guess you're giving your clients the best advice - SHIP the money abroad!

And ANC is left with no option but PRINT THE RAND FROM THIN AIR.

jl115:
Bolded: How the fvck did you come to the conclusion that i missed that?? I stated it was fake news that our former minister said thatthey would print money to make everyone rich..........It was the statement i said was fake not the fact that the reserve bank is considering to print money to finance its deficits.

The rest of you post is just B/s not worth a response!!

What is so difficult in calculating GDP?

jl115:
Jeezes you are dumber than i thought!!!

You do realize that Stats SA hire economists to calculate economic statistics like GDP right?? There are literally job vacancies on their website right now for Economists!!

It really take serious camera angle to snap pictures in Nigeria because everywhere is integrated slums.

Nairobi is on another level. This is Nairobi Metro - Kiambu - Middle class estate. Let us not start the CANADAs as Samrobo claimed.

Ruiru and part of upcoming Tatu city.


https://www.youtube.com/watch?v=LQRVRPj4nWk

AskiaHarem:
Looks like a stone village.

Abuja The Capital

Ghana vision 2050

https://www.youtube.com/watch?v=3ZRdqC4lhRM

Context is everything. If you agree that GDP is basic statistics - then you agree it's not the domain of economist at all - but every citizen should be able to understand that GDP is counting the beans, the goats, the maize produced per annum. And that was the point - that I was trying to put a cross.

But obviously you're interested in polemics.

A South African Investment Analyst who misses South Africa Reserve Bank printing MONEY to buy gov debt for the first time.

What exactly are you ANALYSING? and who are you, clients. No wonder South Africa has seen a SHOCKING CAPITAL flight.

If the kind of Investment Analyst they are producing are you type- then South Africa will continue to print more and more money.

Investment are being shifted from Joburg to London - as we speak - because your type cannot analyze shiet.

jl115:
Hahahaha look at you grasping at straws!!!

Let me remind you what you said "GDP is actually not Economics-it is basic statistics"
Now all of a sudden GDP is statistics of the economy.... Yet you said GDP had nothing to do with Economics

Also fyi never claimed GDP wasn't statistical in nature... All I said is GDP is economics!!

And maybe Google the history of GDP and you would realise that it was economists and not staticians that developed the formulas for calculating GDP

Read this - Statistics South Africa (Stats SA) will release the results of the Gross domestic product (GDP) for the fourth quarter of 2019, at a media briefing to be held on Tuesday, 3 March 2020

Now, why isn't South Africa Chief Economist releasing GDP? Because GDP is statistics - it basically Q time price - and a summation. Economists take GDP stats and try to make sense out of it..

You are not an investment analyst - may be a mere bean counter.

jl115:
Cool story bro keep telling yourself GDP isn't economics!! Makes no difference to the majority of us that know what GDP is!

Just FYI Im an Investment analyst you are a software engineer.......I'm literally an expert in the economic field... And you are a dude that thinks gdp isn't economics

GDP is the statistics of the economy. The keyword is statistics. Now as an accountant - you learn economics - just like I also learned economic 101 as a CS major. But btw an economist and a statistician - the statistician comes up with GDP - and the economist ANALYSE GDP.

Collection and coming up of GDP is the work of Statistician. The interpretation of GDP figures is the work of an economist - who then design economic policies.

Most statisticians work in Planning and Stats office that come up with GDP figures.

Most economists work in the Treasury who come up with economic policies - tax, fiscal, monetary, labor, name it.

jl115:
OK and? I never denied Economics not being statistical in nature infact if you studied economics you would have had statistics as a subject...

However this was never my argument... Your bros claimed GDP wasn't economics at all!! That is what I was debating

Unlike you who knows nothing really about GDP and thinks it's a magic number. I have worked with National Statistics offices in matter data and I know what they do and what they don't do. The first time I was in Rwanda in 2010 - I went there to rollout US's csPRO software - funded by OECD and WB. I later participated in many Africa countries' metadata standardization for National Statistics. I spent two weeks in Kigali building data collection forms for calculation of GDP aka National Accounts, household data and many things. I never met any economist while I was there

jl115:
Not he they.... and they were saying gdp isn't economics!!

What is included or excluded was long covered by UN Stats office. Everyone pretty much follows the International Standard Industrial Classification of All Economic Activities (ISIC). And we are now on Rev4. So statisticians basically measures GDP without reference to economist - because it simply counting and find market prices.

TayserMahri:
Not relevant at all...you could as well keep asking more whys after I respond to the first why.

As you were told a gazillion times, the calculations are statistical That was the bone of contention. You couldn't prove otherwise. Actually, overall, GDP has more statistics in it that Economics. Data collection, preparation, input, processing, analysis, and compiling is purely statistics...economists only interpret results and determine what goods/services to include. Go ahead and ask another why...

GDP is calculated by National Statistical bodies. Yemi Kale has a third rate degree in Statistics from the University of Ethiopia. GDP is what is essentially called the National Accounts. It just like a census of economic activities.

obaaderemi:
GDP goes beyond numbers. It's economics basically. Statistics is just the tool to arrive at it and you don't a degree in statistics to do that.

But South Africa Reserve Bank already printed the Rand & used it to buy your debts or with your bean-counting degree you don't even know.

ANC has basically forced SA Reserve Bank to print money !

https://www.reuters.com/article/health-coronavirus-safrica-cenbank/update-2-taking-qe-route-s-africas-central-bank-starts-buying-bonds-idUSL8N2BI1HY

“I think it’s a move forced on them to be honest. The bond market wasn’t working any longer and it’s the primary source of funding for National Treasury. Without it, not sure how government finances itself, not to mention that the rise in bond yields was so significant that it would impact massively on the country’s debt servicing costs,” George Glynos, head of research and analytics at ETM Analytics, told Business Maverick.

https://www.dailymaverick.co.za/article/2020-03-25-sa-reserve-bank-catches-the-quantitative-easing-bug-as-covid-19-infects-economy-bond-market/

Symptoms include buying government bonds that no one else wants, which may require printing money. In the distant past, it was generally regarded as the hallmark of a banana republic. That changed after the Great Recession of a decade ago.

obaaderemi:
That was just a little bit of sarcasm at your expense. That you couldn't discern that is hilarious.

I was just poking fun at a Kenyan who said South Africa should print more rand as a way out of economic crisis.

There are no classes of atheists. It simply you don't believe in the nonsense of any gods of any nature and that you believe a human being is just a thinking animal.

vaxx:
if you are an atheist, you are a dumb one .

Okay just get behind me That is got to be the weirdest phrases I ever heard for leave me alone.

obaaderemi:
Dumb excuse as usual. Just admit you goofed.

It was an easy decision. I am very logical. My only memory of Christianity growing up is us being threatened by an omnipresent god who'd see everything and punish us with fire and brimstone. I kept taunting that GOD and when nothing happened - and I knew it was just something to threaten us with.

My folks didn't know about my atheism until I was in first year of university when I told my mother - her reaction was priceless - it was half disbelief half-don't tell me - half- are you freaking sick. Most people use to find my atheism blampeousy. Many who grew up with me knows it been that way for me - the others who knew me lately thinks it's pride or something like that.

Growing up around that 10yrs - somebody told me the earth was round - and in all my childhood that only think I remember struggling with until we were taught about it in grade 7. Otherwise, for Christianity- it was just nonsense to me.

theenchanter:
interesting..... But not attending or quitting church at an early stage doesn't make u an atheist. And u can NEVER doubt religion at d age of 10, thats impossible. Be that as it may, those times u spent not attending church is the enlightenment (I don't know a better word for this) time cos u still have to battle some internal and external belief..... Blah blah blah, let's leave d rest.

I became an atheist about 4-5years ago. The rest is history.

So how many years did it take you to realize religion was hogwash. Or when you found it a fad amongst the intellectuals - you also joined the bandwagon. I was born a catholic - and I attended the church until I was 10yrs - grade 5 - and I basically quit. I doubted the whole thing from get-go - but increasingly I started to refuse to attend it - choosing instead to spend my offerings - and eventually, I simply stopped going. Everyone who knows me - knew by age 12 - I was publicly expressing my opposition to Christianity and their dogmas. The whole of high school and universities. I can say for the most part of my life I have been an atheist. I have attended church countable times. I think in university - I found myself in church only ONCE for a burial of a classmate - after that, I attended one church wedding inside a church. I don't remember when I last prayed.

theenchanter:
its a lie..... U weren't an atheist from d age of 10, thats pure lie. Except either of ur parent is irreligious, and that doesn't make u an atheist still.

Nigeria, need a rest, not me. Venezuela is knocking!

theenchanter:
how about I decided to give u some rest and not squeeze d last air out of u?

You're just an idiot who thinks being an atheist is cover for your mediocrity. I was an atheist from the age of 10yrs. It takes VERY LITTLE intelligence to know that religion is HOGWASH. These are stone-age ideologies.

theenchanter:
something we finally have in common. but atheists are usually smart and highly intelligent, why are u an outlier?

How about you found out your country is literally going to dogs with 50% budget deficit before we budget OPEC production cuts.

You have budget - half of it - you'll need to borrow.

theenchanter:
lol, I've put that behind me forgotten about that. Like, I decided not to disturb myself over it.

Pray what do you know about Softwares? Leave alone the Engineering part.

Just30:
stop singing the Software engineering nonsense

you know I'm the leader of the park that dont buy it.

You are an unemployed poor Kibera boy



when you are done, come for free software engineering tutorials
i can see your ambition is to be one.

Sorry, I am not a Christian. I am an atheist.

obaaderemi:
By now you should know that guy, RIP2018 is an idiot and an illiterate rolled into one.

And he is still talking!

Stick to proper English and I am still waiting for your rebuttal on Nigeria budget deficit. I know you're trying obstufication.

theenchanter:
thank u for reminding me not to use complex English when communicating with u.... But u don't have to copy/paste all these cos of this.

I won't even use things like "throw up", "kick bucket"..... so u won't think I wanna throw something up, or u're kicking a bucket.

I have advised you, severally, to use PROPER APPROPRIATE ENGLISH.

get behind (someone or something)
1. To physically position oneself (or be positioned) behind someone or something.
How exactly did the cat manage to get behind the refrigerator?
How did this pen get behind the couch? Did you drop it?
2. To support someone or something.
I'm sorry, but I just can't get behind an initiative that is going to lead to more layoffs.
3. To like or enjoy something.
I know you guys love baseball, but I just can't get behind it—it puts me to

theenchanter:
when I say "get behind me", its a figurative expression that means u should stay away from me. I'm not asking u go give me a doggy while I bend low for u.

I can't be teaching u economics and English at d same time.

I am not gayy. Thanks but no thanks.

theenchanter:
get behind me, dumbo.

Before you assist the South African- tell us about Nigeria - more than 50% budget deficit. Factor the oil price, the OPEC agreed production cuts and the Naira collapse. I am hazarding a guess that Nigeria's budget deficit this year will be 60-70%.

Now does Venezuela ring a bell?

theenchanter:


Be ready to argue with rvp2018 over what a new formed foetus already know.

I am a lifelong student. I never graduate. I don't know what you, therefore, mean by going for tuition fees, when I am still studying. Like I earlier told you my career is Software Engineering - and you definitely cannot wash my feet in my career - but trust me I can teach you a lot about your career - whatever it is.

The ultimate aim of any schooling or education is not to impart you with all the knowledge in your field, but whet your appetite for knowledge acquisition. I know you're typical African - who last read a book when he graduated.

Don't be proud of your ignorance. Pick a book and read it. Or even watch youtube videos.

Just30:
Guy
go back for your tuition fees what whatever uni high sch and uni you attended.

You can go to Wharton school of business like Donald Trump Jnr and still end up an idiot. You can go to Yale like George Bush Jnr and everyone knows you're just a dumbo. They go there because of money just like Libya Gaddafi's son got himself a PHD there. Now for you - you neither went to say university of Witwatersrand or Capetown - and yet there is no doubt you're dense. You cannot hide behind great south African universities when you rarely exhibit anything remarkable - nobody even knows you here - because you're just a run of the mill bean counter.

GDP worldwide is calculated by Statisticians. It's like a census. Just counting beans and figuring out the price. Slightly more cerebral than what you do as an accountant or a CFA.

jl115:
Its funny....I had economics and statistics as a subject when i was studying Chartered Accounting...........strangely we learned GDP calculations in economics not statistics.....................Must be our much inferior Universities since GDP is statistics obviously not economics

It's more statistics than economics. Economics is stuff like fiscal and monetary policies. That requires economists. They determine what the ideal base rate? what is ideal inflation rate, such kind of stuff - are economic domain.

GDP is the domain of Mathematicians or Statisticians - Yemi Kale knows ZERO economics - but he knows how to count stuff (And pad figures in the very corrupt Nigeria).

Danielnino00:
You are going around in circles..
U and your houseboy said "GDP has nothing to do with economics" isn't that it ?

Check your revised budget - where oil price is adjusted 25 dollars - although you didn't adjust the quantities to 1.4m as agreed with OPEC.

If you nock out 1/4 of the 1.94 of the oil barrels as agreed with OPEC - then Nigeria deficit GROWS and we start hearing VENEZUELA!!!!!!!!!

Federal Government of Nigeria has said that it would finance the N5.36 trillion budget deficit through domestic, foreign loans and proceeds from privatisations. This was disclosed by the Minister of Finance, Zainab Ahmed after the Federal Executive Council meeting on Wednesday.

The Minister told Reuters that the cabinet approved a revised budget of N10.52 trillion at the meeting, against the N10.59 trillion approved earlier. Ahmed added that expenditures related to COVID-19, which was not included in the budget, has been added to it.

The revised budget, which requires the approval of the National Assembly, was based on assumption that crude oil price would be at $25 per barrel, the output of 1.94 million barrels per day and an exchange rate of N360 to $1.

samorobo:
.
.
You incorrigible bastard...our deficit is 2.1 trillion idiot...
.oh I forgot,its all about the weight of the argument..

GDP is actually the measure of economic activities and well-being. So there a lot of social activities that get measured. For example, gov services - like providing education, sewage, street cleaning, prison services - are not really economic activities like growing millet - but GDP tries to capture them. You could say GDP is the measure of all "human" activities in a country.

Danielnino00:
So it has nothing to do with economics?

Help Nigeria avoid going Venezuela way first.If you pull that through - you will win Nobel Economic Award. Your country is going to the dogs. 50% budget deficit.

theenchanter:
rvp2018.... Come and pay ur tutorial fee.

GDP is actually not economics - it is basic statistics.

Austine1213:
Go take basic aconomics lesson it will do you good

That comes to around 6.5billion dollars per annum. That is very small figure for 200m people country. Kenya's Safaricom alone clocks more than 2.5B revenues annually

Jasparrow1:
Lemme drop this one here