My Foresight
Whatever you see in the next 20 years to come in this country blame the bi-partisan mishandling of ASUU strike.
Let me drop some rough statistics to see what I'm thinking right now.
Almost all the people that participated including me are just waiting to graduate in order to apply for job abroad.
As I'm typing this, I received two mesaages, one is telling me to add her name in those leaving, another is telling me his lecturer in Biochemistry is leaving the country very soon.
There are some that wanted to stay and work in Nigeria despite the odds, but what changes their minds?
The government will suffer the greatest loss as it provide the facilities that trained these students. It spend so much to see these students are well trained hoping that it would benefit from their expertise. But what happen at the end? They leave.
Do you know who's one year victim? He's that person that assumed he'll graduate at the age of 30. This man is at the brink of losing his NYSC certificate. In Nigeria if you're above 30 years of age you won't go for service.
He's victim of circumstance.
This is just how our system operates, so clumsy 🤧.
Who's to be blamed? ASUU or FG, that's not for me to judge.
But I've a strong reason to leave Nigeria so far and I've a strong reason to take my children abroad if I've the means.
More from Economy
The argument for deficits & debt raising interest rates in the US is not increased credit risk, it is that interest rates are a function of economic fundamentals, flows & policy. Deficits/debt change those.
I can't tell if I'm agreeing or disagreeing with @jc_econ.
Increasing government spending or reducing taxes increases demand (or reduces saving). This raises the price of loanable funds or the interest rate.
In a dynamic context, more demand means a stronger economy, the central bank raises interest rates sooner, and long rates rise.
(As an aside, we are not close to the United States needing to worry about credit risk and the risks are more overstated than understated in most other advanced economies too. But credit risk is not always & everywhere irrelevant, just look at the UK in 1976 or Canada in 1994.)
Interest rates have fallen over the last 20 yrs while debt has risen. This does not necessarily mean that debt rising causes interest rates to fall. It could also mean that other things have happened at he same time that pushed down interest rates more than debt pushed them up.
The suspects for these "other things" include slower productivity growth, slower popln growth, higher inequality, less investment, etc. All of which either increase the supply of saving or reduce the demand for investment, reducing the equilibrium interest rate.
I can't tell if I'm agreeing or disagreeing with @jc_econ.
There is no relationship b/w deficits & interest rates in the US & many other advanced economies. Centuries of dynamic institution building underpin our reserve currency status that allows rates to be a function of economic fundamentals, flows & policy not credit risk 1/3
— Dr. Julia Coronado (@jc_econ) January 26, 2021
Increasing government spending or reducing taxes increases demand (or reduces saving). This raises the price of loanable funds or the interest rate.
In a dynamic context, more demand means a stronger economy, the central bank raises interest rates sooner, and long rates rise.
(As an aside, we are not close to the United States needing to worry about credit risk and the risks are more overstated than understated in most other advanced economies too. But credit risk is not always & everywhere irrelevant, just look at the UK in 1976 or Canada in 1994.)
Interest rates have fallen over the last 20 yrs while debt has risen. This does not necessarily mean that debt rising causes interest rates to fall. It could also mean that other things have happened at he same time that pushed down interest rates more than debt pushed them up.
The suspects for these "other things" include slower productivity growth, slower popln growth, higher inequality, less investment, etc. All of which either increase the supply of saving or reduce the demand for investment, reducing the equilibrium interest rate.
