Comments on: A Nugget of Wisdom http://grandioseparlor.com/2007/05/a-nugget-of-wisdom/ Cogitations on sociopolitical and economic issues focusing on Nigeria & Africa Thu, 20 Nov 2008 14:06:53 +0000 http://wordpress.org/?v=2.5 By: omotaylor http://grandioseparlor.com/2007/05/a-nugget-of-wisdom/#comment-8923 omotaylor Sun, 13 May 2007 02:29:15 +0000 http://grandioseparlor.com/2007/05/a-nugget-of-wisdom/#comment-8923 Me too I am in agreement as also in Nigeria, the average Nigerian has no savings except for the chosen few, the blessed fewer and the fewest hardworking. The Nugget of wisdom when not applied to cars could be golden especially for those that dont consider cars a priority or things that really matter like sound education, basic amenities, food and healthcare to mention a few. Me too I am in agreement as also in Nigeria, the average Nigerian has no savings except for the chosen few, the blessed fewer and the fewest hardworking. The Nugget of wisdom when not applied to cars could be golden especially for those that dont consider cars a priority or things that really matter like sound education, basic amenities, food and healthcare to mention a few.

]]> By: Imnakoya http://grandioseparlor.com/2007/05/a-nugget-of-wisdom/#comment-8881 Imnakoya Sat, 12 May 2007 15:25:47 +0000 http://grandioseparlor.com/2007/05/a-nugget-of-wisdom/#comment-8881 I'm in total agreement Dare. I’m in total agreement Dare.

]]> By: Dare Obasanjo http://grandioseparlor.com/2007/05/a-nugget-of-wisdom/#comment-8866 Dare Obasanjo Sat, 12 May 2007 13:42:58 +0000 http://grandioseparlor.com/2007/05/a-nugget-of-wisdom/#comment-8866 If by "nice" you mean new then I guess we are in agreement. A low end new car is about $10K. The average American has no savings and makes about $45K a year before taxes. Once you take out taxes, rent and living expenses there is little possibility that they would ever be able to afford a car without a loan. Secondly cars depreciate steeply in value, losing about fifteen to twenty percent of their value for each year you own them. In fact, a brand new car is worth about fifteen per cent less a day after you purchased it since it is automatically a "used" car even if you've only driven it about 20 miles. In general I agree with the sentiment in the quote, however for every generalization like that quote there are counterarguments. It is wise to take such quotes as guidelines instead of hard and fast rules that should be followed to the letter. If by “nice” you mean new then I guess we are in agreement. A low end new car is about $10K. The average American has no savings and makes about $45K a year before taxes. Once you take out taxes, rent and living expenses there is little possibility that they would ever be able to afford a car without a loan.

Secondly cars depreciate steeply in value, losing about fifteen to twenty percent of their value for each year you own them. In fact, a brand new car is worth about fifteen per cent less a day after you purchased it since it is automatically a “used” car even if you’ve only driven it about 20 miles.

In general I agree with the sentiment in the quote, however for every generalization like that quote there are counterarguments. It is wise to take such quotes as guidelines instead of hard and fast rules that should be followed to the letter.

]]> By: Imnakoya http://grandioseparlor.com/2007/05/a-nugget-of-wisdom/#comment-8708 Imnakoya Thu, 10 May 2007 22:14:51 +0000 http://grandioseparlor.com/2007/05/a-nugget-of-wisdom/#comment-8708 Omotaylor: I think we have just have to let go at some time. I think its time to bury the hatchet. If Dare wants to partake in the conversation we should allow him. In fact he's invited! Omotaylor: I think we have just have to let go at some time. I think its time to bury the hatchet. If Dare wants to partake in the conversation we should allow him. In fact he’s invited!

]]> By: omotaylor http://grandioseparlor.com/2007/05/a-nugget-of-wisdom/#comment-8707 omotaylor Thu, 10 May 2007 21:09:12 +0000 http://grandioseparlor.com/2007/05/a-nugget-of-wisdom/#comment-8707 The nugget of wisdom could only be useful and make sense to the wise or those who are ready to embrace wisdom. Imnakoya, I am not surprised about counter argument from you know who. His sycophantfriends will try bite my head off again if I mention names The nugget of wisdom could only be useful and make sense to the wise or those who are ready to embrace wisdom. Imnakoya, I am not surprised about counter argument from you know who. His sycophantfriends will try bite my head off again if I mention names

]]>