₦airaland Forum

Oops! Not now! #money illusion in view!

It actually won't!

Nice one!

This is what happens when personal gain is placed above national interest!

doctimi:
We must stop using state funds to finance pilgrimage. It should be a personal choice and cost borne by supposed pilgrim. Moreover, it doesn't increase your piety neither dies it make you a better Christian than others. Government has a lot to do with money than subsidizing a pleasure journey.

Exactly!

This is another leakage in the economy that need to be fixed!

As much as am a crusader for minimal govt intrusion in the interplay of the market forces, leaving naira into such arena will be dangerous to our economy as we all know that we have little or nothing to export( thus more naira will still chase few dollar and that will definitely lead to a free fall on our dear currency)

Also, the activities of the self-centred speculators in the forex as well as the illegal activities in the parallel market is really a bane to the expected positive effect CBN envisioned before their last policy move.

Calling for further devaluation is for whose interest?! Foreign investors( that all they care about is to do one night stand and part away with the spoilt) or the import dependent nation whose population heavily depend on consumption of imported goods and of which devaluation of her currency has inflationary tendency and mind you, increase in wages is not something in view at this perilous time. Can you imagine what this will do to our PPP and standard of living?

Your friend's aspirations are good ones but he has to understand that cumulative sum is not as important as his CASH FLOW.

Also, higher degree does not always/ automatically translate to higher income. You've gat to link it up by your strategies and actions!

You don't need to have it all before you embark on this journey. You only need to be sure that you have a sustainable structure in place that can generate a means of sustainance and expansion; a viable investment for example.

NB: if you are not financially wise, marriage may keep you in perpetual poverty! Alway start with the end in mind!

ayokunlei:
Hahahaha, true true you still dey . dakudaji UniUni

Actually, I mean still dey on top

Ford is making sense!

That's what happens when such integration as this takes place. Ideally, fiscal side and monetary side of every economy should flow together as well as controlled centrally.

Joining the proverbial "club", it would have worked perfectly well if fiscal policy of members is also handled by the club and not just the monetary policy(ECB). As such, expenditure and revenue of members( e.g Greece) may be well coordinated.

Be it as it is, I don't think it's wise for Greece to exist club.

"Classy" I guess, is from the word "class". As such, a classy lady carries around the consciousness of the kinda class she wanna be(or she is); how she likes to be addressed, her carriage, people she mingles with, etc. and that influences her way of life. She tend to be selective. O yeah! She can be educated as well.


On the other hand, an educated lady is "learnered" or well trained but might not necessarily create a "niche for herself", might not care about who she mingles with,talk to and the likes. But in terms of her area of expertise, she's up-and-doing.

Yeah! that's what I think. What do you think?

I like independent-educated-classic lady!

NB: Every school has it's own ish!

Although, it's quite unfortunate that students are at the receiving end. I pray everything is resolved soonest!

Despite all this, we still dey.....

In an era where we are experiencing stagflation and money is failing in one of it's major function~store of value, this MIGHT be a good option

Ofcourse, further devaluation of naira shld be a no go area after the recent over 20% devaluation.

However, beyond all these superficial measures, our industrial base need to be strengthened(via improved power supply majorly), as well as boost our foreign exchange earnings.

Beyond curbing the comparative excess demand for dollars to naira, why not increase the demand for naira in the international market by producing world-class finished products that command competitive value in the Int. Market?

In the interim, I think CBN approach still make some sense!

Really?!!

"Found"?!

Congratulations to him!

Cool. Impressive.





Tell him to keep it up!
Do well to appreciate him; next time he might get you a truck full of those.

I guess I need to check up d meaning of "romantic" in the dictionary

kebisrael:
application for pg hall (hostel) is done on oua portal not on netque. But the application HAS NOT COMMENCED, keep checking the site

Yeap. Thanks, it's on OAU e-portal. I was told application for accommodation should be either May 31 or June 1.

All the best guys!

Anyone who knows when oaunetque site will be available for registration (accommodation) should kindly inform the house. Thanks

So sad! ...that the burden of such fine lies on the shareholders(one way or the other) since the MD and the likes gets their pay anyways!

So funny that an Altman Z-score Model was use on most of the so called strong banks to test their distress level and they all show red light

I wonder when some folks will stop this senseless attitude of insulting people in authority with words on social media, especially on the President of our beloved nation(be it the out-going president or the President elect)!

Noted
[color=#006600][/color]

Yes! Beauty is a necessary but not sufficient criteria.

Assumption: by using the word "beautiful," the OP implied wah I have in mind as in meaning.

The plummeting price of oil means no more trout ice cream.

Coromoto, a parlor in Merida, Venezuela, famous for its 900 flavors, closed during its busiest season in November because of a milk shortage caused by the country’s 64 percent inflation rate, the world’s fastest.

That’s the plight of an oil-producing nation. At the same time, consuming countries like the U.S. are taking advantage. Trucks, which burn more gasoline, outsold cars in December by the most since 2005, according to data from Ward’s Automotive Group.

The biggest collapse in energy prices since the 2008 global recession is shifting wealth and power from autocratic petro-states to industrialized consumers, which could make the world safer, according to a Berenberg Bank AG report. Surging U.S. shale supply, weakening Asian and European demand and a stronger dollar are pushing oil past threshold after threshold to a five-and-half-year low, with a dip below $40 a barrel “not out of the question,” said Rob Haworth, a Seattle-based senior investment strategist at U.S. Bank Wealth Management, which oversees about $120 billion.

“Oil prices are the big story for 2015,” said Kenneth Rogoff, a Harvard University economics professor. “They are a once-in-a-generation shock and will have huge reverberations.”

WEAK PRICES

Brent crude, the international benchmark, fell as low as $49.66 a barrel today, dropping below $50 for first time since 2009. Prices dropped 48 percent in 2014 after three years of the highest average prices in history. West Texas Intermediate, the U.S. benchmark, plunged to as low as $46.83 today, about a 56 percent decline from its June high.

“We see prices remaining weak for the whole of the first half” of 2015, said Gareth Lewis-Davies, an analyst at BNP Paribas in London.

If the price falls past $39 a barrel, we could see it go as low as $30 a barrel, said Walter Zimmerman, chief technical strategist for United-ICAP in Jersey City, New Jersey, who projected the 2014 drop.

“Where prices bottom will be based on an emotional decision,” Zimmerman said. “It won’t be based on the supply-demand fundamentals, so it’s guaranteed to be overdone to the downside.”

The biggest winner would be the Philippines, whose economic growth would accelerate to 7.6 percent on average over the next two years if oil fell to $40, while Russia would contract 2.5 percent over the same period, according to an Oxford Economics Ltd.’s December analysis of 45 national economies.

INFLATION OUTLOOK

Among advanced economies, Hong Kong is the biggest winner, while Saudi Arabia, Russia and the United Arab Emirates fare the worst, according to Oxford Economics.

One concern of central bankers is the effect of falling oil prices on inflation. If crude remains below $60 per barrel this quarter, global inflation will reach levels not seen since the worldwide recession ended in 2009, according to JP Morgan Securities LLC economists led by Bruce Kasman in New York.

Kasman and his team are already predicting global inflation to reach 1.5 percent in the first half of this year, while sustained weakness in oil suggest a decline to 1 percent, they said.

NEGATIVE INFLATION

The euro area would probably witness negative inflation, while rates in the U.S., U.K. and Japan also would weaken to about 0.5 percent. For what it calls price stability, the Federal Reserve’s inflation target is 2 percent. Emerging-market inflation would also fade although lower currencies and policies aimed at slowing the effects on retail prices may limit the fall.

As for growth, a long-lasting price of $60 would add 0.5 percentage point to global gross domestic product, they estimate.

Even as cheaper fuel stimulates the global economy, it could aggravate political tension by squeezing government revenue and social benefits, Citigroup Inc. analysts said in a Jan. 5 report.

Either way, previously unthinkable events now look more likely. Byron Wien, a Blackstone Group LP vice chairman, predicting that Russian President Vladimir Putin will resign in 2015 and Iran will agree to stop its nuclear program.

IRAN LOSSES

Iran is already missing tens of billions of dollars in oil revenue due to Western sanctions and years of economic mismanagement under former President Mahmoud Ahmadinejad.

President Hassan Rouhani, elected on a pledge of prosperity to be achieved by ending Iran’s global isolation, is facing a falling stock market and weakening currency. Iranian officials are warning of spending and investment cuts in next year’s budget, which will be based on $72-a-barrel crude. Even that forecast is proving too optimistic.

“Iran will stumble along with less growth and development,” said Djavad Salehi-Isfahani, a professor of economics at Virginia Tech in Blacksburg, Virginia, who specializes in Iran’s economy. “The oil price fall is not reason enough for Iran to compromise.”

The Russian economy may shrink 4.7 percent this year if oil averages $60 a barrel under a “stress scenario,” the central bank said in December. The plunge in crude prices prompted a selloff in the ruble with the Russian currency falling to a record low against the dollar last month and tumbling 46 percent last year, its worst performance since 1998, when Russia defaulted on local debt.

RUSSIAN PRODUCTION

“The risk is that, as a badly-wounded and cornered bear, Russia may turn more aggressive in its increasing desperation, threatening global peace and the European economic outlook,” said Holger Schmieding, Berenberg Bank’s London-based chief economist. However, “the massive blow to Russia’s economic capabilities should –- over time –- make it less likely that Russia will wage another war.”

Russian oil production rose to a post-Soviet record last month, showing how pumping of the nation’s biggest source of revenue has so far been unaffected by U.S. and European sanctions or a price collapse. The nation increased output to 10.667 million barrels a day, according to preliminary data from the Energy Ministry on Jan. 2. That compares with global consumption of 93.3 million barrels a day, based on the International Energy Agency’s estimate for 2015.

Venezuela, which relies on oil for 95 percent of its export revenue, risks insolvency, Jefferies LLC said in a Jan. 6 note. The cost of insuring the country’s five-year debt has tripled since July, Citigroup said. President Nicolas Maduro is visiting China to discuss financing and expects to travel to other OPEC nations to work out a pricing strategy.

CONFOUDING INVESTORS

The U.S., still a net oil importer, would accelerate economic growth to 3.8 percent in the next two years with oil at $40 a barrel, compared with 3 percent at $84, the Oxford Economics study found. The boost to consumers could be offset by oil companies’ scaling back investments, according to Kate Moore, chief investment strategist at JPMorgan Private Bank. Producers are cutting spending by 20 percent to 40 percent, according to Fadel Gheit, an analyst at Oppenheimer & Co.

The mixed picture is confounding investors. The Standard & Poor’s 500 Index of U.S. equities fell 1.9 percent on Jan. 5, the biggest decline since October, as oil brought down energy shares and stoked concerns that global growth is slowing.

While cheaper oil helps consumers, business spending has a bigger effect on equities, and oil companies are set to cut investments. Oil at $50 a barrel could trim $6 a share off earnings in the S&P 500 Index this year, according to Savita Subramanian and Dan Suzuki, New York-based strategists at Bank of America Corp.

Bets on high energy prices have mashed share prices of companies such as Ford Motor Co., Tesla Motors Inc. and Boeing Co.

REDISTRIBUTE INCOME

Fifth Third Bancorp (FITB), one of the regional lenders that tried to chase the fracking boom, is down 12 percent since June 20.

Caterpillar Inc., Joy Global Inc., Allegheny Technologies Inc., Dover Corp., Jacobs Engineering Group and Quanta Services Inc. are all down more than 20 percent since oil peaked at almost $108.

Despite those losses, Morgan Stanley last month concluded cheaper fuel is a net benefit for the U.S. economy.

“Any massive redistribution of income can raise political tensions,” Schmieding of Berenberg Bank said in the Jan. 6 report. “But, net/net, strengthening the U.S., Europe, Japan, China and India, while weakening Russia, Iran, Saudi Arabia and Venezuela, is likely to make the world a safer place in the end.”


http://mobile.bloomberg.com/news/2015-01-07/oil-at-40-means-boon-for-some-no-ice-cream-for-others.html

soloniger:
While some pessimists are busy focusing on
the negative impact this crash would portend
for the nation’s economy, this writer is one
person who sees the nose diving of oil price as
a blessing in disguise for Nigeria, irrespective of
the temporal challenges the economy may
experience.
The unexpected fall of crude oil price would not
only awaken our politicians from the slumber of
complacency to diversify the nation’s economy
from oil, and resuscitate non-oil sectors like
agriculture, solid minerals, tourism, textiles and
steel industries, etc, but will exert pressure on
Nigeria’s political leadership to restructure the
economy by reducing the bogus size of
government.

http://leadership.ng/features/400092/dwindling-oil-price-blessing-disguise-2

Not far from the truth.

However, I'm really pondering on how the trend of oil price in the Global market is not reflected on the retail pump price vis a vis price of commodities(here in Nigeria), giving that low price if oil shld reduce direct cost of production.



Btw, the wave the current trend of oil price is sending to the cap. Market is not funny. My bet anyway is that this trend will not go below $47.

Interesting. Message received!

LaurelP:
Well I understand dat men shud lead
But dat doesn't mean it will always work out
Some women don't like being taken unawares

Owk. Noted.

LaurelP:
Does it mean women are zombies who don't have their own plans.
And always want to do whatever u want dem to

Nah!

Asking her out is still subject to her schedule. The above point is just to show that Men shldnt be clueless.