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Portugal Is Nigeria
While Portuguese Prime Minister Coelho exclaims "You can count on me," in tonight's TV address, it seems the market is not so sure. In fact things are so bad that Nigeria, that bastion of western capitalism and stability, has just issued 5Y and 10Y bonds at yields in line with Portugal's. With news breaking that the opposition party is calling for new elections in Portugal, we suspect Nigeria will be out soon with a dismissal noting that "Nigeria is not Portugal".
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are they neighbors?
I gave um all the No Insurance their numbers could handle.
Who?... who?... would lend money to Nigeria again...
Last time I sent them $1,000 to help liberate the former Kings $500 million dollar fortune... and they actually shafted me...
Remember in Casablanca when the main goal was to get the hell out of Africa on a plane to Lisbon?
Kind of a twisted irony
Africa starts at Naples
Asia starts at the Rhein.
Meet the new chaotic tyrannical Africa.......western civilization.
http://www.hollywoodreporter.com/live-feed/tv-ratings-msnbc-suffers-wors...
Piers Morgan is the Edward Snowden of the media.... stuck in the CNN Transit Zone while he awaits word of what country will take him
LOL. Hopefully it won't be Britain :-)
Piers is thinking about shooting up a school( faked of course- like the other one) to get higher ratings.
Red Hot Chili Peppers Higher Ground Official Video
http://www.youtube.com/watch?v=686A5yPMWrs (3:24)
Content of your link is blocked in the US
Red Hot Chili Peppers - Higher Ground
http://www.youtube.com/watch?v=7gs2o5T7oN8 (3:23)
No, Nigeria is not Portugal. In fact we are doing a roaring trade with Nigeria nowadays given a growing middle class with disposal income and a taste for imports. Hell, even the letters of credit are world class nowadays.
Portugal by contrast is dead old Europe. Cheap footware and cork trees will only get so far these days.
Speaking of Nigeria, your knowledge of Portugal's economy couldn't be more comically outdated:
Portuguese shoeware is actually the second most expensive in the world, after italian; on top of producing more than half of the world's corkware, that's not just bottle plugs any more - it's everywhere, now, and even those are high tech, nowadays.
Also, exports are, for years now, majoritarily technology.
At least Mr. Sanusi seems to push reasonable rhetoric. Look up a few youtube clips with discussion on the bank reform he performed. They've recapitalized Nigerian banks in a credible way.
http://www.cenbank.org/AboutCBN/TheBoard.asp?Name=Mr%2E+Sanusi+Lamido+Sanusi+%28CON%29&Biodata=lamido
And, don't forget, Nigerian banking principals are on the hook for any bank failures from their personal assets. I'd rather put my "money" in a Nigerian bank than in Citibank, that's for sure.
Well they are getting a shit load of Labour remttances from the old colonial world now.
http://www.vanguardngr.com/2013/04/foreign-remittances-to-nigeria-hit-21bn/
I think I read its a record 500 million from Ireland alone , by far the highest of all the ethnic groups in Ireland despite their lower numbers when compared to the Poles etc etc.
Yes ...for whats its worth.
"an average of more than €26,000 for each of the 17,642 Nigerian nationals in Ireland, including children"
http://www.independent.ie/irish-news/nigerians-send-nearly-500m-a-year-home-from-ireland-29278045.html
To give you a idea of the scale of this
In March of this year we imported 513 million worth of foodstuff.
So they exported a months ~ food ration from our shores in one year !!!
Globalization only worked for the Irish when we rebuilt London after the war........now not so much.
It doesn't matter what interest is, it won't be repaid. The question is who is buying that shit, your pension plan, banks, mutual funds or nobody and price is defined on derivatives, I'm confused!
It must be some American entity because they have unlimited supply of print and at some point they can use that to dictate something they want to achieve. It's insane Portugal or Nigeria, doesn't matter, they won't have any means to repay any money ever, what a fucked up game we play!
...without the oil.
Where is Francisco van Zeller when they need him?
When people get to the point that government or a change of it is their only hope, hope is lost, as is evident in Egypt and likely soon in other countries. Is it just a problem for the usual suspect countries or is it spreading? What has changed?
I'm sure if my family name was Coelho ("Rabbit" in English), I'd want to change it to something better.
Hey, I like Nigeria, some minister from there is always trying to send me money.
The difference is that Nigeria can finance their debt payments, no, not with oil revenues but with enough stupid Obamavoters actually giving their bank account number to the scammers with the subject line of the email stating:
HELLO, I AM ABN BI OBAMA AND I HAVE A MILLION ZILLION DOLLARS FOR YOU