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Nairaland Forum / Nairaland / General / Business / Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent (30246 Views)
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Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by CanineOfJackal: 9:56am On Jul 29, 2018 |
Colourich:wow. you blew me away. I don't know you but I will find you and marry you |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by Nobody: 9:59am On Jul 29, 2018 |
I expected bad news from Venezuela ever since i saw them fighting with America. 1 Like |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by IsioStar1: 10:00am On Jul 29, 2018 |
sotall: Are you kidding me? Thank your God that GEJ failed in the 2015 election, it would have been a disaster for Nigeria. Learn to comprehend my brother. Have you forgotten that Okonjo-Iweala has already started borrowing money to pay Federal Civil Servants? God I thank you so much for the change of baton in 2015. 1 Like |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by adeoba2008(m): 10:03am On Jul 29, 2018 |
decatalyst: No. They dot have. |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by olajizz01(m): 10:04am On Jul 29, 2018 |
Alapafaari:You are a patriot and normal Nigerian, nowadays,we have lots of abnormal Nigerians esp. from particular region . Only that senseless and yeye killings which the president is less concern about is the barn of this present government. 1 Like |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by Sanchez01: 10:07am On Jul 29, 2018 |
uridadole:Indeed. By diversifying oil to the Congo Basin and the North. |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by Sleekfingers: 10:07am On Jul 29, 2018 |
Nigeria own is looming. Check out the prices of commodities, exchange rate etc. Hmmmmm we better start proffering solution to the problem at hand and the one ahead. And stop this crap of calling God God God. Prayer won't revive a dead economy. I don talk my own o 1 Like |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by Aystarz: 10:09am On Jul 29, 2018 |
BluntBoy: Why should we compare ourselves with Venezuela? We are more blessed with natural and human resources, hence we should be doing much better. The comparison here is at best mediocre, my friend. And sorry, but the Nigerian people do not deserve to suffer like the Venezuelans. We are Nigeria, supposed giants of Africa! How come smaller nations like Rwanda, Ghana and South Africa are have it way better? |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by wink2015(m): 10:10am On Jul 29, 2018 |
Colourich: You have some good economics point but sometimes the challenges facing nations around the world tend to defy classrooms academic theories. But in the case of Nigeria our overdependence on crude oil as our main foreign exchange earners will spell doom for us. Diversifying from a monoproduct economy to multiproduct economy should be the way forward for Nigeria. If President Buhari is wise he should stepdown as minister of petroleum and then supervise Agriculture. Northern Nigeria have abandoned farming for sweet crude. Before the advent of crude oil exploration in the Niger delta region we had groundnut, cotton,hide and skin (leather) tin, coal, cocoa etc. But our crave for pet-dollars drag us to abandon agriculture for sweet crude. The experience from Venezuela is a picture of what will happen to Nigeria if Agriculture is not developed. Our greedy political class all these years want quick fix without building our economy on a sound agricultural footings. 1 Like |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by BedLam: 10:12am On Jul 29, 2018 |
BluntBoy:Buhari was the sole administrator some years back. No one stopped him! What did he do ? Oga have a good day. It's funny how dweebs come over here thinking anyone that isn't supporting Buhari is a fan of last administration. Government of dweebs and for dweebs. |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by semyman: 10:14am On Jul 29, 2018 |
May God Almighty bless Buhari for saving Nigeria from similar calamity GEJ the clueless could have landed us 1 Like |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by BedLam: 10:15am On Jul 29, 2018 |
blowjohn:If you sound idiotic to me I will call you out . I don't patronize bullish,t vendors. Now move along. |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by Nobody: 10:17am On Jul 29, 2018 |
udemzyudex: He's a bloody idíot. You should not have mentioned him |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by Nobody: 10:17am On Jul 29, 2018 |
Abdul315:y Well said bro |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by Nobody: 10:18am On Jul 29, 2018 |
Azmodan: Please ignore those trolls Please 1 Like |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by spiritedtete: 10:20am On Jul 29, 2018 |
Colourich:Impressive! |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by Nobody: 10:20am On Jul 29, 2018 |
BluntBoy: Why are you comparing Nigeria to Venezuela? Why not compare our present economic fortune now to how it was 5-6 years ago? Are we doing better? NB: Venezuela has other challenges unique to them so keep them out of this |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by Iamgrey5(m): 10:21am On Jul 29, 2018 |
BedLam:Why should we be far better off? The late Hugo chavez implemented socialist programs that significantly backfired after the unexpected crash in the global oil prices. Nonetheless, Venezuela has better infrastructural facilities than Nigeria. Venezuela refines its own crude oil for domestic use unlike Nigerian. The only similarities between Nigeria and Venezuela is the Dependant on imported items. These key issues i have raised above accounts for most of the problems we face in Nigeria today. it also a testament to the mismanagement of the previous governments before Buhari. If Buhari didn't implemented important economic policies and austerity measures when he became the president of Nigeria and continued with the waste like experienced under Jonathan and those before him, Nigeria will have been worse off.. |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by Nobody: 10:22am On Jul 29, 2018 |
majekdom2: That's what happens when your economy is attacked by foreigners. How can't any of you see this? 1 Like |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by Yankee101: 10:23am On Jul 29, 2018 |
kolaaderin: Shut...not shot Elected....not installed The pit....not he pit Now to the basis of the matter, did you know Buhari is repeating the same tragic economic woes he enacted as a military admin? Either you are blind, too young to remember, can't read or just plain ignorant. 2 Likes |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by Nobody: 10:24am On Jul 29, 2018 |
As much as there is bad leadership in this country.. Majority of there problems started when they asked foreign countries to return there gold deposits. Meanwhile the foreign countries have sold most of there gold. What did the foreign countries do, they decides to frustrate, sabotage and cripple there economy. Its no news. Its out there. Shebi Nigerias foreign reserve is with foreign country and its standing at over $40 billion dollar. Wait until the day Nigeria asks for that money to be returned or majority of it transferred to other countries like China. Part of Jonathans fall out with these foreign countries was, we wanted some of Nigeria foreign reserve to be denominated in Chinese Yuan. 1 Like |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by 4Play(m): 10:25am On Jul 29, 2018 |
This thread is another BMC propaganda session of: Venezuela's economic troubles serves as evidence of Buhari's strong economic performance. It's a claim that feeds on people's ignorance and I have countered it several times before. Venezuela went into recession and its inflation problems were well known as early as 2013. See example below: June 9, 2013 1:32 pm by Benedict Mander in Caracashttps://www.google.co.uk/amp/s/amp.ft.com/content/b41fbcb4-d0f1-11e2-be7b-00144feab7de Did the people praising PMB today for not turning Nigeria into Venezuela also praise GEJ from 2013-2015 for not turning Nigeria into Venezuela? It's not like Nigeria and Venezuela had similar economic performance until 2015, and suddenly Venezuela diverged for the worse. Venezuela's problems are distinct - stemming from the ill-conceived Bolivarian 'revolution' - long standing and predate the Buhari era. It's a sign of desperation when you praise a government by comparing it to the worst available outlier of an example. Next you will be praising the security situation in Nigeria by comparing us to Somalia. 4 Likes |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by BedLam: 10:26am On Jul 29, 2018 |
Iamgrey5:Name the waste under the last govt and the austerity measures under this gov't. Fyi, this gov't you said is implementing saving mechanism is the one using more than twice the amount the previous gov't used for elections that were laudable. So much for saving and waste huh?! 1 Like |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by Sleekfingers: 10:27am On Jul 29, 2018 |
Aystarz: |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by Nobody: 10:28am On Jul 29, 2018 |
Reference: Their unjust hatred for the west usually blinds them. Now they can enjoy the miracle of Socialism. On a plus side; you can literally bang on of this hotties for $1 a day. All thanks to Socialism. 1 Like
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Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by BedLam: 10:28am On Jul 29, 2018 |
Iamgrey5:What happened when Buhari was the head of state. Same recession? Was that oil slump too ? The people are the problem of this country. 1 Like |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by BedLam: 10:29am On Jul 29, 2018 |
Admin401:Lol. You are hilarious. |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by Nobody: 10:29am On Jul 29, 2018 |
theoldpretender: When this administration is over y'all will go crazy. The new name is "under-recovery" subsidy is old school |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by Nobody: 10:30am On Jul 29, 2018 |
BedLam: Thank you very much! |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by metroid(m): 10:31am On Jul 29, 2018 |
theoldpretender: True 1 Like |
Re: Venezuela’s Bolivar Currency Worthless As Inflation Hits 1 Million Percent by theoldpretender(m): 10:31am On Jul 29, 2018 |
BedLam: Buhari took over in December 1983. In 1982, oil prices collapsed. Shagari.was already talking about austerity measures in early 1983 |
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