Sunday, April 29, 2012

Taking on Nigeria's rank as third fastest growing economy

I cannot tell you that I honestly know anything about Nigeria other
than that I have no interest in visiting and that I've been smart
enough to steer clear of almost all the scams. So when I saw the
headline about Nigeria being the third fastest economy in the world
(http://www.bellanaija.com/2012/04/12/how-can-nigerias-economy-be-the-third-fastest-growing-economy-in-the-world/)
I thought God there are a lot of stupid people out there.

Even this growth is not on the back of grandma's social security, I am
not convinced it's based on real legitimate anything First of all
when you are starting from nothing, any growth looks exponential since
GDP measures in percentage growth but more importantly it does not
matter how much they grow because even if it was legit, your economy
will never soar until people are willing to invest in you and I can't
imagine any guy running a 401k being able to convince anybody it's a
good idea to send their life savings to a bond invested in Nigeria.
Regardless of how legit it's an issue of word association with scam
and Nigeria and would be like trying to sell a beautiful cruise around
the waters of Somalia

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