The world’s bank of banks has a gloomy economic forecast for Nigeria, which derives much of its income from oil revenues.
http://www.worldstagegroup.com/worldstage/index.php?&id=2683&active=news
That article doesn’t explain why…
This one from Nigeria does – mismanagement by the Nigerian central bank
http://www.independentngonline.com/DailyIndependent/Article.aspx?id=33130
commercial lending rates are around 20% and fear of inflation has the economy paralyzed. Bad economic conditions and rising food prices are the things of which revolutions are made.
Fortunately there is no “fear” of inflation in the U.S. It’s already here.
We have a time proven system that ignores rising prices (the income tax), or exacerbates them (state and local sales taxes). Thus government is theoretically assured increasing revenues – no matter what. Meanwhile the Fed Chairmen declares rising prices are of no real concern because they are “transient”. (Duh!)