Nigeria Currency Crisis [PICTURE]

As of 2015, Nigeria is the world’s 20th largest economy, worth more than $500 billion and $1 trillion in terms of nominal GDP and purchasing power parity respectively. It overtook South Africa to become Africa’s largest economy in 2014.[  Also, the debt-to-GDP ratio is only 11 percent, which is 8 percent below the 2012 ratio.  Nigeria is considered to be an emerging market by the World Bank;[ It has been identified as a regional power on the African continent, a middle power in international affairs  and has also been identified as an emerging global power. Nigeria is a member of the MINT group of countries, which are widely seen as the globe’s next “BRIC-like” economies. It is also listed among the “Next Eleven” economies set to become among the biggest in the world. Nigeria is a founding member of the Commonwealth of Nations, the African Union, OPEC, and the United Nations amongst other international organisations.

With that in mind see the pic below – simply shocking how bad the currency crisis is

 

Charlie Munger: Invert And Use “Disconfirming Evidence”

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Via https://twitter.com/rosenthal_jon/status/707705897984901120