Five years ago, economists prophesied a prosperous future for Nigeria, and the rest of the continent. Yet today, the country is facing what one leading Nigerian academic recently told me is its “biggest crisis since independence”. The devaluation of the Nigerian naira by 230% over the past year, along with a huge rise in inflation, has sparked an economic crisis unequalled in its modern history. With meat, eggs and milk now a luxury, there have been reports of people in the north of the country being forced to eat poor-grade rice usually used as fish food.
Geopolitics
The Cradle – Namibia blocks ship carrying ‘explosive material’ for Israel citing Genocide Convention
Namibia, a former victim of German genocide (the Germans have many under their belt) bans a German company (you can see the German flag on the mast) shipping arms to Israel for its genocide from […]
Austerity
Larry Elliott: The left must be bold and back a green new deal
Progressives were caught napping by the financial crisis. They cannot not be as ill-prepared next time Read here
Economics
Bill Mitchell: ECB operations are like the wild west and beyond democratic legitimacy
“For a monetary system that professes virtue because it is so rule-driven, the day-to-day reality is a sort of ad hoc adventure where there are no rules.” Read here
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