Thoughts on Money

"You shall not press down upon the brow of labor this crown of thorns; you shall not crucify mankind upon a cross of gold." - Wiliam Jennings Bryan Cross of Gold Speech, 1896 [wikimedia.org]
“You shall not press down upon the brow of labor this crown of thorns; you shall not crucify mankind upon a cross of gold.” – Wiliam Jennings Bryan Cross of Gold Speech, 1896 [wikimedia.org]

In order to prevent myself from becoming rapacious, I try to reduce the amount of time I spend thinking about money. However, recent developments have forced me to spend a lot of time understanding exactly why money has been behaving so strangely in recent times. 

Read More...

Swimming Upstream: Nigeria’s Economy Defies All Logic

A Nigerian oil dealer pours gasoline into bottles at a roadside market in the commercial capital of Lagos in this October 31, 2008 file photo. REUTERS/Akintunde Akinleye/Files
A Nigerian oil dealer pours gasoline into bottles at a roadside market in the commercial capital of Lagos in this October 31, 2008 file photo. REUTERS/Akintunde Akinleye/Files

Nigeria’s petroleum industry is very peculiar. Despite producing 1.75 million barrels of crude oil per day(b/d), they only refine about 24,000 barrels into gasoline, leaving them 384,000 barrels short of meeting daily domestic demand.  

Read More...