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Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent - Business (4) - Nairaland

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Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by Bizibi(m): 9:20am On Jul 29, 2018
BedLam:
South Africa might be heading this way soon.
how It will be disastrous if it happens......
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by BedLam: 9:22am On Jul 29, 2018
theoldpretender:


I like the tax idea, at least the land remains productive

Not Zimbabwe style invasion that may satisfy justice, but leave the economy messed up
You know Africans are worse at doing business ? We always have emotions and attachment run over everything. Wise countries would know that as long as it's In the interest of the country, then interest comes first. Not some ancestoral lands that you have no how to make use of. Funny thing is, credit for farmers will also deplete as creditors wont risk inept farmers having access to credit facilities.

1 Like

Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by BluntBoy(m): 9:23am On Jul 29, 2018
BedLam:
Dude. We could have been better. Get that into your head. Why do you think this is the best Buhari can do ?

But we are not doing badly in relations to another country that relies heavily on oil export.

It is not Buhari's fault that the country is not in the rank of the United States (if that is what you mean by "we could have been better" ). The man has barely spent 3 years in government.

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Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by olujastro: 9:24am On Jul 29, 2018
4koff:


They will never understand. Sanusi was like a prophet crying in the wilderness of what is to come in 2015 like John the Baptist, he was ignored. Okonjo Iweala did the same, she warned and according to her, "there was no political will to save" in order to forestall the impending economic disaster. Because of the coming elections in 2015.

Because the fools in Buhari's team could not highlight these facts and educate the people, it now looked like Buhari is the cause of this economic situation we now find ourselves.

Thank God, we did experience this situation under PDP. The situation would have been worse because of the PDP mentality(Share the Money)
The problem is that Nigerians are largely not educated enough about things like this. Lots of people are still illiterates. And even those who are educated are ignorant about what their local economy means.
Basic economic indices are things that high school students in western countries take for granted. But for us, we just want to pass exams in school, become doctors, lawyers or engineers and live happily ever after without learning in other areas of life.
Little wonder this economic crisis was tagged "Buhari Economy". People say things like.... Things have become hard under this Buhari economy. Lol

6 Likes

Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by kokomaster3d: 9:25am On Jul 29, 2018
Just kukuma sell this country on www.yakata.com.ng
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by BluntBoy(m): 9:25am On Jul 29, 2018
Bizibi:
the problem started way before then but the slump in the oil price blew it open....
Bad leadership and wrong policies were the main cause.when president Chavez started his free for all policy he never knew it will open a big hole in the economy,the oil slump price only worsened it.

I don't care. It is the same way the oil crisis exposed us as well and Buhari managed it well, at least relatively. Or do you want to tell me that the oil crisis did not expose our years of mismanagement?

3 Likes

Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by BedLam: 9:27am On Jul 29, 2018
BluntBoy:


But we are not doing badly in relations to another country that relies heavily on oil export.

It is not Buhari's fault that the country is not in the rank of the United States (if that is what you mean by "we could have been better"wink. The man has barely spent 3 years in government.
Barely ? When power hasnt added a single watt? Things should be moving...insecurity wasn't this bad. Was it ? It's funny how you think 3 years is not enough. That's because this govt is slow and have almost nothing to offer. Take it or leave it. Boko haram is still here and you think 3 years is not enough. You want 29 years ? This year has ended already. Name one thing beneficial to the whole country that Buhari is doing. Healthcare has no road map. Education has been forgotten totally. We don't even know the minister of trade and investment anymore. More people are committing suicide than ever!

4 Likes

Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by Bizibi(m): 9:30am On Jul 29, 2018
BluntBoy:


I don't care. It is the same way the oil crisis exposed us as well and Buhari managed it well, at least relatively. Or do you want to tell me that the oil crisis did not expose our years of mismanagement?

Nigeria practices mixed economy,Venezuela practises full time socialism so even if buhari wasn't there it won't be bad as you think.

1 Like

Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by not4sure(m): 9:31am On Jul 29, 2018
BedLam:
Idiot. Venezuela woes aren't from oil slump but [b]bad leadership [/b]and the fact that they run a tight system of socialism. Get sense for once! What did Buhari managed ? Was that the first time oil prices went south ? Now that we have oil bounced back, why is the exchange rate not going back to previous bracket ?
One more time, get sense!

So Nigeria didn't have bad leadership. Good then Nigeria leader is trying then. I know is not Buhari. Please don't call people idiot
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by agaliboy: 9:34am On Jul 29, 2018
A billionaire is a billionaire. Better to convert my small naira to bolivar!. Suddenly, I'll be a billionaire. Lobatan.

Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by Bizibi(m): 9:34am On Jul 29, 2018
BedLam:
Barely ? When power hasnt added a single watt? Things should be moving...insecurity wasn't this bad. Was it ? It's funny how you think 3 years is not enough. That's because this govt is slow and have almost nothing to offer. Take it or leave it. Boko haram is still here and you think 3 years is not enough. You want 29 years ? This year has ended already. Name one thing beneficial to the whole country that Buhari is doing. Healthcare has no road map. Education has been forgotten totally. We don't even know the minister of trade and investment anymore. More people are committing suicide than ever!
no need talking about buhari any longer because the more we talk the more he makes blunders....right now some of us are praying and waiting for an emergency sitting in the chambers concerning the budget and I keep wondering why they made that blunder and move against saraki when they knew there is no money in the system.
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by BluntBoy(m): 9:36am On Jul 29, 2018
BedLam:
Barely ? When power hasnt added a single watt? Things should be moving...insecurity wasn't this bad. Was it ? It's funny how you think 3 years is not enough. That's because this govt is slow and have almost nothing to offer. Take it or leave it. Boko haram is still here and you think 3 years is not enough. You want 29 years ? This year has ended already. Name one thing beneficial to the whole country that Buhari is doing. Healthcare has no road map. Education has been forgotten totally. We don't even know the minister of trade and investment anymore. More people are committing suicide than ever!

More than 50 years have not been enough and we have had 16 years of democracy before this administration came on board and you are expecting a miracle in three years?

2 Likes

Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by Aystarz: 9:36am On Jul 29, 2018
BluntBoy:
That is what I keep on telling people. Buhari has tried well in managing the oil crisis. Some people think it is not an achievement but they forget that Nigeria is a third world country and for her to have survived the crisis, then the president deserves praise.

You and I know he doesn't deserve the credit you are giving him here but Sha continue.

1 Like

Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by justtoodark: 9:37am On Jul 29, 2018
if you nigerians are not careful,you will look back at today and call it good old days.....
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by manmoraskk: 9:38am On Jul 29, 2018
sotall:
With a weird combination of Buhari serving as the president without a waec certificate and aunty Kemi serving as finance minister with oluwole Nysc certificate , Nigeria's naira was definitely heading this way of worthlessness.

Thanks to Nigerians who didn't let it happen.
wawu
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by justtoodark: 9:39am On Jul 29, 2018
and venezuela is a white nation....

poverty has nothing to do with skin color.....

1 Like

Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by BedLam: 9:39am On Jul 29, 2018
BluntBoy:


More than 50 years have not been enough and we have had 16 years of democracy before this administration came on board and you are expecting a miracle in three years? I said things should be "moving" seems we are stagnant.







Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by BluntBoy(m): 9:41am On Jul 29, 2018
Bizibi:
Nigeria practices mixed economy,Venezuela practises full time socialism so even if buhari wasn't there it won't be bad as you think.

Forget mixed economy. It is only on paper.

If Nigeria had failed like Venezuela, you still would have blamed Buhari. You want to make excuses for Venezuela's woes but you never make such excuses for your own president. You never see anything good in him and yet expect so much.

5 Likes

Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by BedLam: 9:42am On Jul 29, 2018
Bizibi:
no need talking about buhari any longer because the more we talk the more he makes blunders....right now some of us are praying and waiting for an emergency sitting in the chambers concerning the budget and I keep wondering why they made that blunder and move against saraki when they knew there is no money in the system.
When someone have nothing meaningful to do, he causes chaos. A case of "idle man is a devils workshop".

1 Like

Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by BluntBoy(m): 9:42am On Jul 29, 2018
Aystarz:


You and I know he doesn't deserve the credit you are giving him here but Sha continue.

Yes, it is because we are not using wheelbarrow to pack money to the market, that is why you can afford to belittle his effort.

3 Likes

Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by Bizibi(m): 9:44am On Jul 29, 2018
BluntBoy:


Forget mixed economy. It is only on paper.

If Nigeria had failed like Venezuela, you still would have blamed Buhari. You want to make excuses for Venezuela's woes but you never make such excuses for your own president. You never see anything good in him and yet expect so much.
hahahahaha,then you don't know the Nigeria you are living in.
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by GoodGovernance: 9:44am On Jul 29, 2018
Howmon:
What if Nigeria just buy fuel from venezuela

You captured my thought!

I just hope our economic team is thinking....
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by Bizibi(m): 9:47am On Jul 29, 2018
BedLam:
When someone have nothing meaningful to do, he causes chaos. A case of "idle man is a devils workshop".
it is crazy but some people are okay with his mediocre kind of leadership but I'm not concerned any longer.
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by BluntBoy(m): 9:48am On Jul 29, 2018
[quote author=BedLam post=69798158][/quote]

It is the structure, not the leadership per se.

I will repeat, bring all the past presidents of America to govern Nigeria and they will fail.

I am sure that some of our past presidents had noble intentions until they got there and saw the reality of things. We must first begin with the structures that slow down decision making and we must work toward pressuring the reviewing of huge, unnecessary expenditures, especially the salaries that public office holders earn. I heard that a local government chairman in Nigeria goes home with a total of at least a million naira every month. These are things we should work on.

3 Likes 1 Share

Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by Aystarz: 9:50am On Jul 29, 2018
Bizibi:
hahahahaha,then you don't know the Nigeria you are living in.

LOL BluntBoy is simply out of touch with reality. Like the President, he'd rather score cheap points than bother his head about the sufferings the masses are being subjected to on the daily.
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by justtoodark: 9:51am On Jul 29, 2018
Colourich:
Why will the government, central bank of Venezuela and Economists in Venezuela allow inflation to rise to this extent?


truth of the matter is that Venezuela is suffering from dutch disease and if time is not taken, Nigeria and other oil developing exporting countries that don't diversify their economy and stop the crowding out of the tradable goods sector by this booming oil sector will suffer the same fate. CBN is already warning us.


The government of Venezuela should use fiscal policies and CBV should use contactionary monetary policies to curb this inflation.

mind your own business...giving them advice for what..??

this people hate blacks like you....
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by blowjohn(m): 9:51am On Jul 29, 2018
BedLam:
Idiot. Venezuela woes aren't from oil slump but bad leadership and the fact that they run a tight system of socialism. Get sense for once! What did Buhari managed ? Was that the first time oil prices went south ? Now that we have oil bounced back, why is the exchange rate not going back to previous bracket ?
One more time, get sense!
j

Must u call him/her idiot to pass ur message? What the hell is wrong with you? If u have issues to trash with buhari why not take a trip to Abuja. Its not like u have provided a solution to Nigeria's problems. Haba!

5 Likes 1 Share

Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by SokoDobo: 9:52am On Jul 29, 2018
Na wa ooo
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by BluntBoy(m): 9:54am On Jul 29, 2018
Aystarz:


LOL BluntBoy is simply out of tune with reality. Like the President, he'd rather score cheap points than bother his head about the sufferings the masses are being subjected to on the daily.

Buhari never scored cheap points with this.

The only thing I wrote was that he managed a crisis well. It is not easy to manage such a crisis in Nigeria where the structure is built in a way that it is hard to save. The president deserves some praise for that.

You said the masses are suffering? Then, go to Venezuela and see those worse than us. That is my point.

2 Likes

Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by kolaaderin: 9:54am On Jul 29, 2018
Yankee101:
This is where Buhari and Adeosun wanted to take us

Shot up, GEJ and Ngozi were already on that path. Thank God for the prompt intervention of Nigerians in installing this present administration, we would have dived soo deep into he pit of recession without return.

2 Likes

Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by BluntBoy(m): 9:55am On Jul 29, 2018
blowjohn:
j

Must u call him/her idiot to pass ur message? What the hell is wrong with you? If u have issues to trash with buhari why not take a trip to Abuja. Its not like u have provided a solution to Nigeria's problems. Haba!

Don't mind them. Some of them cannot even manage a small business for a month without ruining it. All they know how to do is blame while doing nothing themselves.

2 Likes

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