Hi Bernard and Team. It is as though you are in my bedroom with me; I have been saying this same thing for many many years. The Ivy League education, some of it is not applicable in the African context. Also, the economics we practice here, just does not make sense, yet we take some writing in some books for market's that don't apply to us. You share all my sentiments exactly. This country need JESUS
Exactly! We like to take shortcuts with half-truths. What has a Harvard trained investment banker got to do with a developing country like GH? Harvard can train investment bankers because there's a foundation backing that. The likes of C. Vanderbilt, J.D. Rockefeller, A. Carnegie, J. P. Morgan, Henry Ford, etc. laid the foundation for that....for America! Where are the GH industrialist equivalents?
BERNAND REMEMBER YOUR COLLEAGUE ASKING CHEDDAR / NANA BEDIAKO WHETHER HE HAS A UNIVERSITY DEGREE AND HOW CAN HE BID TO BECOMING PRESIDENT. WHEN OUR LEADERS HAVE ALL THE BIG DEGREES BUT CANT MANAGE OUR ECONOMY.
Caleb it's true o! I've been telling my friends/family all the time. We don't have reputable woodwork manufacturing companies in GH (at least not that I know of). We still import 'nice' desks/chairs/bathroom vanities, etc., and even furniture for public schools use. But we have c0f-f-in designers! such a waste of talent and skills...going into the soil. We need a good sense of direction in the country o!
All these are bookish…raising policy rate does not even work in advanced economies when people are struggling to eat and pay rents. When companies are buying houses to rent, people storing food, producers cutting down production to raise prices, etc. America is raising policy rate, on paper inflation is being tamed but in reality inflation is high. It is very difficult to study human behavior. Economics and finance is not exact science. Very hard to predict. You may generate all the mathematical equations but still be abnormalities. The state is crowding out the individuals. You have hit the nail on the head. Yes, the theories we learn in Harvard and Cambridge do not apply in our economy. So the policies of our policy makers with big degrees but do not understand our economy. Our economy is bigger than we are able to measure.
Our inflation is not more money in the system. We lack the goods and the raw materials and exchange rate. The state should create import substitutes, make the foreign companies to retain high percentage of their profits in Ghana.
Bernard, with your level of thinking and how woke you are, you should be helping Nana Kwame Bediako with all your ideas. In fact, you should be on his team. He’s got the funds and intelligence but obviously not as intelligent as you are. Benard, if you want the change that you so talk about since the last 10yrs I have been listening to you, then think of what I’m saying. My piece✌🏾
I can't believe the man talking on the show still believes banks only serve a mere intermediary role. That is completely false and shows a lack of understanding of the banking system.
He never said banks only serve financial intermediation roles. He was explaining one of the functions of banks. And he was right. The point was well delivered
@@KofiGreat-hb3oi but it creates a wrong impression because that isn't how banks do their business most of the time and isn't a major contributor to high inflation and interest rates. They create loans by giving out depositors money to businesses and investors. This loan was created using money that didn't belong to the bank but depositors. This loan can be bought by and sold to public and private investors hence becoming a medium of exchange. This means private banks are creating money out of thin air and are contributing to most of the inflation in the country. The intermediary theory has been debunked by most economists and isn't a good picture of what happens in the financial sector.
