For what it's worth, the global economy seems to be in freefall at the moment.

UK economy is in a recession in all but name, and a lot of us have had to tighten our belts. Yesterday the IMF forecast that Germany of all countries, will have the weakest major economy of 2024.

Scant consolation I guess, but at least applies some additional context to Nigeria's financial woes; even if the country wasn't the critically mismanaged basket case that it is, it would still be struggling to deal with the post-COVID fallout. Put simply, this one pass Tinubu or Obi.

Jesus Christ himself won't be doing better.

CrystalTiger:
😂😂😂😂😂😂😂

the guy is stupid in his own unique way. Lmao

nihilistjnr:
For what it's worth, the global economy seems to be in freefall at the moment.

UK economy is in a recession in all but name, and a lot of us have had to tighten our belts. Yesterday the IMF forecast that Germany of all countries, will have the weakest major economy of 2024.

Scant consolation I guess, but at least applies some additional context to Nigeria's financial woes; even if the country wasn't the critically mismanaged basket case that it is, it would still be struggling to deal with the post-COVID fallout. Put simply, this one pass Tinubu or Obi.

Jesus Christ himself won't be doing better.

Yesterday Block announced layoffs, a few hours later Paypal announced layoffs, followed by UPS

This 2024 that is just 30days old, 25,000 tech workers laid off

Which means remittances to Africa and 3rd world will likely drop too

nihilistjnr:
For what it's worth, the global economy seems to be in freefall at the moment.

UK economy is in a recession in all but name, and a lot of us have had to tighten our belts. Yesterday the IMF forecast that Germany of all countries, will have the weakest major economy of 2024.

Scant consolation I guess, but at least applies some additional context to Nigeria's financial woes; even if the country wasn't the critically mismanaged basket case that it is, it would still be struggling to deal with the post-COVID fallout. Put simply, this one pass Tinubu or Obi.

Jesus Christ himself won't be doing better.

but atleast he can turn water to wine and multiply 7 loaves of bread and a few fish to many loaves of bread and many fishes.

What I'm worried about is with that ability, he doesn't get kidnapped and made a human production factory for wine, bread and fish.

Itzlinda:


Is it advisable to sell land and buy dollar to hoard against inflation?

Dollar is the premium asset in Naija now

It's better than any business or physical asset

How quickly you can sell land is up to you. By the time you sell, dollar done leave you run

Ibime:


Unfortunate for those who didn't buy the dip when it went down to 900

BTW, dollar is still cheap at N1.5k

Please buy, Nigeria has no FX to defend Naira. We will see N2k this year and N3k is likely.

All my savings have always been in USDT since 2019. Since then, prices of almost, if not everything I buy has tripled. While I don't feel the impact of inflation at all, I can't say the same for family members and relatives whom inflation have impoverished some.

My concern is for them and other Nigerians, especially those who are not atuned to keeping up with current daily prices and have seen their business capital turn to dust due to instability of the Naira.

It doesn't matter if dollar exchange for 2k as long as it is stable at that rate. Stability is the key to all economies.

swiz123:


All my savings have always been in USDT since 2019. Since then, prices of almost, if not everything I buy has tripled. While I don't feel the impact of inflation at all, I can't say the same for family members and relatives whom inflation have impoverished some.

So you are one of the saboteurs? Don't let Glorious catch you oh

Incognito9:
We need his brain, not his body

😆

Werey

nihilistjnr:
For what it's worth, the global economy seems to be in freefall at the moment.

UK economy is in a recession in all but name, and a lot of us have had to tighten our belts. Yesterday the IMF forecast that Germany of all countries, will have the weakest major economy of 2024.

Scant consolation I guess, but at least applies some additional context to Nigeria's financial woes; even if the country wasn't the critically mismanaged basket case that it is, it would still be struggling to deal with the post-COVID fallout. Put simply, this one pass Tinubu or Obi.

Jesus Christ himself won't be doing better.

UK is in recession but naira dey fall against pounds steadily.

Recession no reach pounds?

The nomenclature of herdsmen being used to describe Fulani bandits is as outdated as fishermen used as a suffix for Ijaw militants

Niggas that can collect N100m for ransom have no economic business herding a cow across the country for N500k or N1m

Bandits, Kidnappers or terrorists is more apt than herdsmen. Herdsmen will use machete to cut you, those parading AK and major ammunition have not been herdsmen for a long time, if at all.

It gives a new meaning to WHERE ARE THE COWS

I respect a graduate that says he support tinubu because he is a tribal person than that one that says he support tinubu because he is the best candidate out of the other candidates

raumdeuter:


Yesterday Block announced layoffs, a few hours later Paypal announced layoffs, followed by UPS

This 2024 that is just 30days old, 25,000 tech workers laid off

Which means remittances to Africa and 3rd world will likely drop too

Yeah that tech layoff is affecting me badly, coupled with Japa syndrome.

A guy I know that came here as a dependant, is ex Access bank. He told me there's a whatsapp group of circa 400 highly qualified ex-Access employees all trying to break into tech roles here.

2020-2023, I was running 2-3 contracts simultaneously at any given time. This year I have one, but I'm dragging with Japa artists, Tech redundancies, and niggas just straight up applying from Nigeria and India.

It's no surprise that UK and Canada are now locking down the opportunities to japa, because our people are dragging the jobs with the locals in these lean times, and our peeps are both highly skilled and willing to work for very cheap.

BlueRayDick:


Things will only get worse if they do this ; crime rate will increase and the economy will shrink further .

Mass sack of workers will happen across different industries; people who were formerly gainfully employed will beg their friends to teach them yahoo just to stay afloat .

Only God knows if a loaf of bread will not sell for N2,000 anytime soon

Let's just hope I'm wrong because at this dollar rate, subsidy is definitely close to what the government was paying before they took over.

I don't see how they plan to continue.

Ibime:


So you are one of the saboteurs? Don't let Glorious catch you oh

swiz123:


All my savings have always been in USDT since 2019. Since then, prices of almost, if not everything I buy has tripled. While I don't feel the impact of inflation at all, I can't say the same for family members and relatives whom inflation have impoverished some.

My concern is for them and other Nigerians, especially those who are not atuned to keeping up with current daily prices and have seen their business capital turn to dust due to instability of the Naira.

It doesn't matter if dollar exchange for 2k as long as it is stable at that rate. Stability is the key to all economies.

Smart. All your assets should be in Dollars at this point. No point buying any land or property to hold value cos they wot appreciate as fast as dollar

nihilistjnr:


Yeah that tech layoff is affecting me badly, coupled with Japa syndrome.

A guy I know that came here as a dependant, is ex Access bank. He told me there's a whatsapp group of circa 400 highly qualified ex-Access employees all trying to break into tech roles here.

2020-2023, I was running 2-3 contracts simultaneously at any given time. This year I have one, but I'm dragging with Japa artists, Tech redundancies, and niggas just straight up applying from Nigeria and India.

It's no surprise that UK and Canada are now locking down the opportunities to japa, because our people are dragging the jobs with the locals in these lean times, and our peeps are both highly skilled and willing to work for very cheap.

You use your own hand do yourself. Na you dey preach for them to japa. Dey japa finish dey no wan allow you drink water drop cup.

afrodoc2:


You use your own hand do yourself. Na you dey preach for them to japa. Dey japa finish dey no wan allow you drink water drop cup.

I still think that objectively speaking, Japa is the best advise to give a nigga there, even if it doesn't benefit me here.

All of us go dey alright. . I will continue to upskill and network to keep afloat, which is the nature of true capitalism anyway. Adapt or die.

nihilistjnr:
Yeah that tech layoff is affecting me badly, coupled with Japa syndrome.

A guy I know that came here as a dependant, is ex Access bank. He told me there's a whatsapp group of circa 400 highly qualified ex-Access employees all trying to break into tech roles here.

2020-2023, I was running 2-3 contracts simultaneously at any given time. This year I have one, but I'm dragging with Japa artists, Tech redundancies, and niggas just straight up applying from Nigeria and India.

It's no surprise that UK and Canada are now locking down the opportunities to japa, because our people are dragging the jobs with the locals in these lean times, and our peeps are both highly skilled and willing to work for very cheap.

Same thing is happening here. With the layoffs, Return to Office, its very hard nowadays. I have WFH for about 10yrs and now I don't even want to reason anything hybrid cos my lifestyle is designed around WFH

You can only do 2-3 jobs if you are WFH,

Outsourcing has drained a lot of jobs, one of my jobs a 3yr contract just got abruptly stopped because the entire IT dept. moved abroad

I met one Naija guy in church on Sunday, We were discussing the job market, Say Abeg if you know anyone hiring let me know. I told him everywhere is dry now. He just dey para. Say He will vote Trump nothing anything can tell him. With Trump he tightened outsourcing and made it hard to ship jobs to India. The guy was saying they are talking on TV say Trump is a danger to democracy, what concerns me with democracy when the democracy inside my household is about to collapse. They gave us mortgage, carnote, student loans yet take away jobs to pay for them
Same way the white blue collar guy will be thinking about Mexican cheap labour coming in

With these layoffs, many companies have reduced hiring, also many highly skilled guys are in the market to compete for roles. So competition for the few jobs will be stiff. You will be interviewing with a 25yr experienced guy who just got laid off from Google

nihilistjnr:


I still think that objectively speaking, Japa is the best advise to give a nigga there, even if it doesn't benefit me here.

All of us go dey alright. . I will continue to upskill and network to keep afloat, which is the nature of true capitalism anyway. Adapt or die.

Of course na. Was just teasing. Upskilling is the way to go always.

Everywhere rugged. Na so one of my patients default payment recently. You drive Benz enter compound, receive treatment, after treatment talk say you go pay next week. My receptionist called the next week, the baba talk say nothing like that happened.

This week another woman talk say she forget her credit card for house. This one we go dey on her neck like those loan companies for Naija.

afrodoc2:


Of course na. Was just teasing. Upskilling is the way to go always.

Everywhere rugged. Na so one of my patients default payment recently. You drive Benz enter compound, receive treatment, after treatment talk say you go pay next week. My receptionist called the next week, the baba talk say nothing like that happened.

This week another woman talk say she forget her credit card for house. This one we go dey on her neck like those loan companies for Naija.

If you forget wallet, do bank transfer from phone.

raumdeuter:


Same thing is happening here. With the layoffs, Return to Office, its very hard nowadays. I have WFH for about 10yrs and now I don't even want to reason anything hybrid cos my lifestyle is designed around being at home

You can only do 3 jobs if you are WFH,

Outsourcing has drained a lot of jobs, one of my jobs a 3yr contract just got abruptly stopped because the entire IT dept. moved abroad

I met one Naija guy in church on Sunday, We were discussing the job market, Say Abeg if you know anyone hiring let me know. I told him everywhere is dry now He just dey para. Say He will vote Trump nothing anything can tell him. With Trump he tightened outsourcing and made it hard to ship jobs. The guy was saying they are talking on TV say Trump is a danger to democracy, what concerns me with democracy when the democracy inside my household is about to collapse. They gave us mortgage, carnote, student loans yet take away jobs to pay for them

With these layoffs, many companies have reduced hiring, also many highly skilled guys are in the market to compete for roles. So competition for the few jobs will be stiff. You will be interviewing with a 25yr experienced guy who just got laid off from Google

Brah it's absolutely crazy. I just broke into strategy, only to find that a lot of the OGs in that game have been laid off, and now doing fractional CIO\CTO. My mentor who's ex-big 4 and Cass MBA, ran away to Jamaica last year, and is now running expatriate game in Tanzania. The amount of ex big-4, ex-FAANG on the market is disgusting.

Me that was hoping never to touch technical stuff in my life again, I'm back studying for certifications again, because all the knowledge economy guys are playing the hunger games now. A lot of developers are also struggling because like you said, outsourcing is now the lick, and then the local talent are now competing against ex-Meta, ex video game devs at home, and dirt cheap talent abroad.

The only tech sector wey dey BOOM for here now na Cyber. Last year it was Generative AI and Machine Learning, but those guys are now also getting laid off lowkey. I've never seen anything like it.

raumdeuter:


If you forget wallet, do bank transfer from phone.

You know some of these older patients no get phone apps or dey no sabi operate am. I get patients wey no even get mobile phone.

One rugged war veteran talk say mobile phone too dey disturb so e no get. Na landline baba dey use.

afrodoc2:


Of course na. Was just teasing. Upskilling is the way to go always.

Everywhere rugged. Na so one of my patients default payment recently. You drive Benz enter compound, receive treatment, after treatment talk say you go pay next week. My receptionist called the next week, the baba talk say nothing like that happened.

This week another woman talk say she forget her credit card for house. This one we go dey on her neck like those loan companies for Naija.

Omo e choke o. Everywhere dry.Everybody dey tighten belt. All man hold their side.

Na this kain time, I dey grateful for NHS sha even though I no dey seek. I cannot imagine rokuing medical insurance right now.

nihilistjnr:


Brah it's absolutely crazy. I just broke into strategy, only to find that a lot of the OGs in that game have been laid off, and now doing fractional CIO\CTO. My mentor who's ex-big 4 and Cass MBA, ran away to Jamaica last year, and is now running expatriate game in Tanzania. The amount of ex big-4, ex-FAANG on the market is disgusting.

Me that was hoping never to touch technical stuff in my life again, I'm back studying for certifications again, because all the knowledge economy guys are playing the hunger games now. A lot of developers are also struggling because like you said, outsourcing is now the lick, and then the local talent are now competing against ex-Meta, ex video game devs at home, and dirt cheap talent abroad.

The only tech sector wey dey BOOM for here now na Cyber. Last year it was Generative AI and Machine Learning, but those guys are now also getting laid off lowkey. I've never seen anything like it.

Its really brutal. Many guys who were hired as remote workers are told to move to an office or resign, IBM just released their RTO this week. You return to office doesnt even guarantee your job

Say you WFH from Atlanta, IBM is in Austin, So do you fly back and forth maintaining 2 households or relocate your entire family. You relocate your family means your wife either finds a job or becomes Stay at Home. then what happens in 1yr down the line the company says they are not making enough profit and lay you off?

And all those upskilling how much can you really do when 22yr old leetcode monkeys are graduating in bulk, Outsourcing Yapa and with AI.
If we are seeing the impact of AI 1.0 imagine in 10yrs time what will be AI version 7.0? Maybe we will all be jobless

As I dey na prayer to retire early dey my mind now. I wan hang boot by the time I touch 50. I no fit dey keep up with all these jagbajantis. You learn ML 2yrs ago now them dey dry up, so today na to enter cyber. You never learn one thing finish another one don comot. Plus someone telling me to relocate to another city at this point. With sleepless nights of worry over whether you wont be able to login or na layoff email await you in the morning. Na retirement sure pass

Ibime, realistically how much do you need to have in investment accounts 401k plus Trading accounts to live a comfortable life for another 30yrs

raumdeuter:


Its really brutal. Many guys who were hired as remote workers are told to move to an office or resign, IBM just released their RTO this week. You return to office doesnt even guarantee your job

Say you WFH from Atlanta, IBM is in Austin, So do you fly back and forth maintaining 2 households or relocate your entire family. You relocate your family means your wife either finds a job or becomes Stay at Home. then what happens in 1yr down the line the company says they are not making enough profit and lay you off?

And all those upskilling how much can you really do when 22yr old leetcode monkeys are graduating in bulk, Outsourcing Yapa and with AI.
If we are seeing the impact of AI 1.0 imagine in 10yrs time what will be AI version 7.0? Maybe we will all be jobless

As I dey na prayer to retire early dey my mind now. I wan hang boot by the time I touch 50. I no fit dey keep up with all these jagbajantis. You learn ML 2yrs ago now them dey dry up, so today na to enter cyber. You never learn one thing finish another one don comot. Plus someone telling me to relocate to another city at this point. Na retirement sure pass

Ibime, realistically how much do you need to have in investment accounts 401k plus Trading accounts to live a comfortable life for another 30yrs

£2m in unencumbered rental property at 5% yield will retire you and your wife so far you have no mortgage on your own family home

£1.6m in the above can also retire you so far you live a modest life

Even £1m in the above can allow you step down and supplement yourself with delivery driver work (Amazon etc) which is good for health as you age (steps per day)

The question is what legacy you want to leave for your kids and that determines where you stop

Depending on where you got in your career, you can also pick up 2 or 3 NED roles that pay £15k to £30k each for few days work per year to also supplement yourself if you have rental income that covers a good part of your expenses. Financial times offers an NED course for £2k if you are positioning yourself to go that route. You know they like black faces in the boardroom.

401k depends on your life expectancy. If you retire at 50 depending on 401k and you live till 100, I am guessing you will be broke for the last 20 years of your life

raumdeuter:


Its really brutal. Many guys who were hired as remote workers are told to move to an office or resign, IBM just released their RTO this week. You return to office doesnt even guarantee your job

Say you WFH from Atlanta, IBM is in Austin, So do you fly back and forth maintaining 2 households or relocate your entire family. You relocate your family means your wife either finds a job or becomes Stay at Home. then what happens in 1yr down the line the company says they are not making enough profit and lay you off?

And all those upskilling how much can you really do when 22yr old leetcode monkeys are graduating in bulk, Outsourcing Yapa and with AI.
If we are seeing the impact of AI 1.0 imagine in 10yrs time what will be AI version 7.0? Maybe we will all be jobless

As I dey na prayer to retire early dey my mind now. I wan hang boot by the time I touch 50. I no fit dey keep up with all these jagbajantis. You learn ML 2yrs ago now them dey dry up, so today na to enter cyber. You never learn one thing finish another one don comot

Ibime, realistically how much do you need to have in investment accounts 401k plus Trading accounts to live a comfortable life

That's why I started investing in property 2 years ago, and at one point was seriously considering quiting the ratrace tojust buy a B&B to live upstairs and be letting rooms out.

You're right, I cant keep up. Re-certifying is really a young man's game, and that's one of the reasons I ran to do an MBA during lockdown, hoping to find a nice lazy high 5, low 6 figure management role that can fund my lifestlye, pad my pension and keep me going, and from there launch a small bid for a directorship based on long service. But even that is looking like a pipe dream at the minute.

One of my neighbours was a CFO for a local business somewhere, and I was already priming her for a parapo move through regular dinner and BBQ invites, when all of a sudden she got let go as well after her company went bust last year. I had been working on this woman for 6 months at that point. E pain me die.

Here in the UK, it's still really hybrid for now. Most companies are doing 2 days in, 3 out for now..but I dont think it would be long before full time is the norm again. EY were in the news yesterday for tracking attendance of its employees and realising that 50% of their staff are not even complying with the 2 days on policy, so only God knows if that's going to be the end of hybrid as their retaliation.

Egbon, im fvcking tired

Find this guy for me.

https://www.instagram.com/reel/C2wdXXtItHv/?igsh=MXhtcTlreWs5d2JhZg==

BlueRayDick:
Find this guy for me.

https://www.instagram.com/reel/C2wdXXtItHv/?igsh=MXhtcTlreWs5d2JhZg==

What the fuckkkkm

Ibime:


£2m in unencumbered rental property at 5% yield will retire you and your wife so far you have no mortgage on your own family home

£1.6m in the above can also retire you so far you live a modest life

Even £1m in the above can allow you step down and supplement yourself with delivery driver work (Amazon etc) which is good for health as you age (steps per day)

The question is what legacy you want to leave for your kids and that determines where you stop

Depending on where you got in your career, you can also pick up 2 or 3 NED roles that pay £15k to £30k each for few days work per year to also supplement yourself if you have rental income that covers a good part of your expenses. Financial times offers an NED course for £2k if you are positioning yourself to go that route. You know they like black faces in the boardroom.

401k depends on your life expectancy. If you retire at 50 depending on 401k and you live till 100, I am guessing you will be broke for the last 20 years of your life

By unencumbered rentals you mean no mortgage on them? Cos I have mortgages with rates ranging from 3.3 to 6.5%

nihilistjnr:


What the fuckkkkm

The guy dey drag bars with Ibime

BlueRayDick:
Even before matter never cast reach this level I & E expert don give up

You sef know say the same person na joseph 18 something something

raumdeuter:


By unencumbered rentals you mean no mortgage on them? Cos I have mortgages with rates ranging from 3.3 to 6.5%

Yeah unencumbered means no loan on it so your yield is for you alone