ITS ALL ABOUT THE ECONOMY STUPID!!!!!!! Before you think this is an insult, te-slow. This phrase was coined by James Carville, the campaign strategist for the presidential campaign of Bill Clinton in 1992 against the sitting president H.W Bush. At the time America had hit a rough patch and the only topic worth discussing at the time was the economy, well except for the stupid! Let me explain, when the economy is good even the poor who live on less than a dollar a day fair better but when its poor even the rich loose their monies and assets in millions or billions depending on how rich. Your money turns to ashes in your bank or pocket and the value is much less. Who wants money without value? Nigeria is hanging precariously on that cliffs edge. Do the math(roughly), if you had N600 in the bank which was worth lets say $4 about 6 months ago, now its $3. Multiply this by the amount you have saved in the bank or in your assets and get an idea of how much value you have lost. The more you have the more you have lost, its a direct relationship! If we were a manufacturing and/or exporting country this would have favoured us i. e a weaker naira. But lo! We are a consumer/importer nation, we import everything including toothpicks. So we would continue to hemorrhage economically while this horror lasts. The FG has kept the benchmark of crude for this years budget @ $65/barrel despite the price hovering around $45/barrel but $50/barrel today because of the death of the Saudi Monarch, it will drop again as it finds its level. Our reserves have been depleted in an orgy of reckless spending. This means we would go cap in hand to pay salaries, massive job cuts loom in the private and public sector. Capital projects might be suspended unless things are done differently. The government must do things differently. Why? Because government is at the centre of the economy of every nation. They must put in messures to limit waste via corruption and overbloated salaries. They must still in the face of dwindling resources embark on capital projects to ensure infrastructure that would attract investment and revive manufacturing, thus providing jobs. They must provide for the unemployed and elderly so the only employed in the family doesnt get asphyxiated by too many responsibilities too soon. They must ensure that medium and small scale businesses get loans and or grants at low interest rates. They must put in place policies and reforms that encourage enterprise. They must invest in health and education. They must provide for common defense against aggresors, foreign and domestic. They must ensure the rule of law at every level of governance. All these revolves around the economy and if you are talking about everything other than this, you are stupid, STUPID!!!!!!(Believe me I didnt insult you, it was James Carville). N.B :Clinton beat H.W Bush at the polls!
Posted on: Fri, 23 Jan 2015 19:07:16 +0000
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