Why Can't Somalia Be Like Lebanon Economy

[DR OSMAN]

Lebanon has an identical situation to us. They had a civil war in 1975 to 1990 over religious sects(christian, jew, sunni, shia), they settled their political issues under 4.5 system across sects. Their economy looks identical to us and they have a big diaspora like we do.

Their GDP was as low as $2 billion in 1990 and then exploded $17 billion from 1990-2000, in 10 years of the recovery years.

3:44 Mark




The only difference to Somalia is their strong 'banking'. This is proof to idiots who think Somalia can develop without Banks. The Diaspora isn't the problem, they want to invest and create industries in Somalia so their money is working not sitting idly in accounts losing to 5% inflation each year.

The problem is Somali govt not playin it's role in creating a banking architecture and it's necessary laws and interconnectivity with other foreign banks.

 

[DR OSMAN]

Somalia govt should go to Lebanon to case study their banking architecture from 1990-2000 period the golden years and also study the flaws that led to it's collapse(poor governance) as a warning to somali govt that this isn't an area that can fall to politics and needs to be controlled by independent economic experts only outside govt involvement.

 

[DR OSMAN]

@Neero I already knew the theory of banking in an economy is strong. No bank means no loans means no start-ups or investment for locals to have jobs or even support their business ideas. Now you can see practical proof in lebanon after their civil war ended in 1990, their growth is linked to strong banking from 2.8 billion GDP to 17.5 billion GDP in 10 years.

 

[DR OSMAN]

@Neero all our diaspora-local-foreigners will lay down their capital in banks, if it is insured and follows banking practises to 'invest, invest, invest' to locals to create start ups, we can link up diaspora-foreigners to do their investment or diaspora to diaspora. PPL with money need their money working 24/7 not sitting idle in accounts due to inflation burning away it's value.

We can tell somalis in the west, only leave your 'expenses' for a year in a bank and shift the excess into somali banking so it's being used for investment or else that excess capital will burn thru inflation.

 

[DR OSMAN]

@Neero my banking is set up to shift all excess money in my bank once it reaches 5k to my retirement investment portfolio. I only leave expenses and a few hundred in my bank, the rest is gone into share portfolios or properties or cars. I want to shift excess capital to Somali banking also, im sure most somalis do but there is no banking architecture or govt insurance.

 

[Johnathan Smith]

Isn’t Lebanon going through an economic crisis. I don’t think we need a fast boom, but gradual stable growth. Idk much about economics though

 

[DR OSMAN]

Isn’t Lebanon going through an economic crisis. I don’t think we need a fast boom, but gradual stable growth. Idk much about economics though

They collapsed due to poor governance, corruption which reached it's banking architecture. Not that banking is the problem. That's why banking architecture must be independent like federal reserve in america is with little oversight by govt. Somalis have capital sitting idly in accounts dying to inflation it's scary.

If u compound 3% losses each year over 20 years, they lost 60% of whatever sum they had let say 100k, becuz it's not working for them. 3% is average inflation each year. So if u had 100k sitting in an account, u lost 60k over 20 years in small 3% devaluing each year. Its called compound loss.

 

[Abdalla]

Whenever I compare Somalia to any other shithole, I look at the ticket prices. From Amsterdam Schiphol to Beirut, it will cost you 790 during high season.

We’re few steps behind every shithole country.

 

[DR OSMAN]

Whenever I compare Somalia to any other shithole, I look at the ticket prices. From Amsterdam Schiphol to Beirut, it will cost you 790 during high season.

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We’re few steps behind every shithole country.

We r always behind every shithole, that's why I say Somalia are truly 4th world not even 3rd world. They look up to 3rd world shit holes like arabia, so we must be even lower. I can't teach them 1st world economy becuz it's just to far for their small minds, so I have to use 3rd world economies as examples 4 them.

 

[DR OSMAN]

@Abdalla these cunts r embarassing they think they have good economy. Economy is judged by cost of living which two metrics are used the grocery bag index to avg income portion, housing prices to avg income index. Housing should be 3-4 times the price of an avg income. Not 1000 times over a xamaali wage looool like it is now.

The Grocery index, should be 10% of an avg income. Noone in the west on avg income spends more then 10k a year on 60k avg income on food. Want to do some measuring on their petty $500 a year, just electricity is $50 a month, that alone eats up their whole avg income. Forget grocery/housing index, maba soo gaadhi karan to measure, hence a shit hole of peasants.

But then u have HAG idiots who think somalia economy is better then Kacaan, it's hagonomics is what i call it. They live in different world truly to human beings.

 

[Libaax-Joore]

We r always behind every shithole, that's why I say Somalia are truly 4th world not even 3rd world. They look up to 3rd world shit holes like arabia, so we must be even lower. I can't teach them 1st world economy becuz it's just to far for their small minds, so I have to use 3rd world economies as examples 4 them.

Ditoore what is puntland gdp

 

[DR OSMAN]

@Abdalla u know what the hamali rate is in Somalia and what house prices are. It's 1000 times the wage. Thats hagonomics by haji engris and hagonomic philosophers which hags follow. U know wat electricity/water rates against a hamali wage. U know the grocery bag index for a hamali and his wages are.

they seriously can't even be measured, becuz that $500 a year avg income expires on just electricity cost, he will starve on food, no housing, and water. It's a beautiful 4th world, a beautiful hagonomic world. Koley ma aha aduun ay bin adan ku nool yihin and measured on.

I am suprised some darods think this hagonomic world post 91 is anything comparable to kacaan, taas baan la yaaba, not hawiye.

 

[DR OSMAN]

@Libaax-Joore a good economy is like this

1. Housing prices 3-4 times the average income. If avg income is 500. House prices should be $2000 maximum. Not diapora inflated crap of 100k
2. Grocery bag should be 10% max a year. So in Somali context, it should be $50
3. Electricity/Water should be 10% a year. $50
4. Then they need savings-investment assets-shares with what is left over to fuel growth for their banks to create more investment and increase their incomes.

That's healthy economy

 

[DR OSMAN]

@Libaax-Joore are u coming at me with petty isaaq n hag competition? @killerxsmoke @SirLancelLord

Somalia economy is set up like this

60% waa livestock/farming
30% waa dukamo(service industry) oo ay ku jirto telecom
10% waa fishery--mining-frankincense

Horta livestock market qaybta PL oo illa hiraan waa gaadha. So u can imagine PL share in livestok trade.
The somali shops in every town need a deked to bring in their items. PL saamaynteeda illa burco-erigavo-ssc-makhir-gm-hs bay taabata.
10% fishery-mining-frankincense waa uu gaar PL.

Marka caqligaagu muxu ku sheega? PL services 70% of the Somali market, so 70% of Somali GDP kama yara. 70% ku dhufo 7 billion, 4-5 billion kama yara.

Waryaa why u think somalis always want to know PL information, war dalku iyaga hormuud ka ah. Hada garacad ayaaba si balaarinayo their trade zone to 100 milyan ethiopian 'suuqeeda' gacanta ku soo dhigi doono

 

[DR OSMAN]

@Libaax-Joore the farming sector waa liita manta, their traditional farmers are all barakac, marka suuqooda waa yaratay to GDP. If 60% is livestock/farming, livestock waa easily 40-50% of somali total 7 billion. That's 3-4 billion niyahow.

 

[DR OSMAN]

@Libaax-Joore im not interested in this hagonomic GDP, xal ma aha. I want PL to be smart, to create it's own GDP development, we must seek developed markets in the world and ask them 'their baahi' and fill that baahi in PL if we concentrate all the developed world baahi into PL, we will get strong prices from developed markets.

Even in un-developed markets, we must seek only areas they bring thru 'export' becuz that will be tied to 'foreign prices' we must not compete with them locally and be in that suuq yari game, like garacad it will 'tax' foreign goods entering ethiopia, thats foreign prices. We taking livestock which will secure foreign prices in the gulf.

I want to end hagonomics AND FREE PL from it. But PL lagama fujin karo koonfurta due to their savior complex, wa nasib daro

 

[DR OSMAN]

@Libaax-Joore PL is already seeking to inject more capital into fishery and expand it's GDP share. But I want a well developed plan were we ask each developed nation where there 'baahi' is or 'shortage' in their industries, and fill those gaps in PL.

 

[LasanoodBoy]

The average Lebanese is way more sophisticated and educated than the average Somali, Lebanese are probably the worse example from the Middle East. Lebanon is a failure in many ways due to its politicians. But as good human ressourcers. The Lebanese are way more civilized than other Arabs.

 

[DR OSMAN]

@Libaax-Joore for example we can create medical factories in our industrial park targetting all the various 'cudur' in africa and setting up exports to it. First the medical is baahi wayn in this disease ravaged continent plus it's a high price product. We can do this by bringing all baahida africa iyo baahidaa developed world and concentrate it into PL. The medical plant idea has been taken by Hamar now. But they can take it, becuz we r using 'philosophy' to direct our development, we can find just as many 'baahi' areas across the world and fill it.

 

[NordicSomali]

Lebanon has an identical situation to us. They had a civil war in 1975 to 1990 over religious sects(christian, jew, sunni, shia), they settled their political issues under 4.5 system across sects. Their economy looks identical to us and they have a big diaspora like we do.

Their GDP was as low as $2 billion in 1990 and then exploded $17 billion from 1990-2000, in 10 years of the recovery years.

3:44 Mark




The only difference to Somalia is their strong 'banking'. This is proof to idiots who think Somalia can develop without Banks. The Diaspora isn't the problem, they want to invest and create industries in Somalia so their money is working not sitting idly in accounts losing to 5% inflation each year.

The problem is Somali govt not playin it's role in creating a banking architecture and it's necessary laws and interconnectivity with other foreign banks.

The Lebanese are a different types of Muslims and they have no problem with interest charging banks. In Somalia just talking about riba gets you in serious trouble.

And yes banking and enforcing property rights laws etc. is a good start.