Why the Nigerian 419 strategy is still making $13 Billion last year ?

The Nigerian 419 strategy is to have a misspelled email fro m the son of some deceased Prince who needs all your bank info in order to release $20 million that he will eagerly split with you.

Then he steals all of your money.

borat

Why is the email misspelled? After decades of Nigerians sending the exact same email, why is it always mis-spelled?

And, by the way, the official language of Nigeria is English.

There’s a simple reason. Anybody in the top 90% of rational people know that a misspelled email coming from a Nigerian prince is a scam.

The Nigerians don’t want to deal with those 90%. Even if you sent a perfectly spelled letter with a much more realistic story, those 90% will figure it out.

Then the scammer will have wasted his time. He doesn’t want to waste time.

He needs to find the 10% that will respond to him really quickly. (Btw, I’m assuming “he” but can also be a “she”). And the 10% that will work.

Does it work? Of course it does. 419-ers made $13 billion last year. And every year.

This is what lousy scammers companies with stupid irrelevant  and hilarious products and services are doing.

The 10% that are left have managed to jump over to keep liking them.

Which is the goal from the beginning.

Most people do the right thing and ignore the Nigerian 419 scam.

The best strategy, which nobody will take (including me), is to just ignore them.

But we won’t. We irrationally need a Nigerian 419 stories. Because evolution tells us we need people & stories to gossip about.

 

Vietnam Sees Early Signs of Economic Recovery

New World Bank Report, Taking Stock, Shows Increase in Vietnamese Economic Growth

 

Hanoi, December 3, 2014 – Early signs show that Vietnam’s economic recovery is on track, says the World Bank’s Taking Stock report, released today. Vietnam’s economic growth is expected to improve from 5.4 percent in 2013 to 5.6 percent in 2014.

This positive outlook is largely due to the country’s ongoing macroeconomic stability and continued strong performance of the foreign-invested manufacturing export sector. Positive macroeconomic conditions contributed to Vietnam’s improved sovereign risk ratings, enabling US$1 billion of government bonds to be issued on international capital markets on favorable terms.

“Vietnam’s potential for much more rapid growth can only be realized if substantial progress is made in addressing distortions such as in the state enterprise and banking sectors, that tax the economy’s efficiency and productivity,”  says Victoria Kwakwa,  World Bank Country Director for Vietnam“Stepping up this reform agenda and strengthening the business environment are critical for moving forward.”

The report finds that underlying the broad pattern of economic recovery, the performances of foreign-invested and domestic firms remain dichotomous. The foreign-invested sector continues to be a significant source of growth, while the domestic private sector remains subdued, as reflected in the rising number of domestically-owned businesses that have closed or suspended operations.

Over the medium term, Vietnam’s macroeconomic outlook is good, with continued modest GDP growth and a further consolidation of macroeconomic stability. The outlook is subject to two key risks: (i) relatively slow progress on SOE and banking sector reforms could adversely impact macro-financial conditions; (ii) adverse turn of events in the global economy could undermine Vietnam’s growth prospects, given the relatively large size of the export sector.

The report has a special section on Financial Sector Assessment, which summarizes the major findings of the recent Financial Sector Assessment Program. The report highlights a complex array of institutional and regulatory factors that are responsible for the weak performance of the financial sector. The government has announced a comprehensive reform program designed to address these problems faced. The FSA provides a broad set of policy recommendations that can be used to operationalize the government’s program.

Vietnam Sees Early Signs of Economic Recovery

December 3, 2014

New World Bank Report, Taking Stock, Shows Increase in Vietnamese Economic Growth

Hanoi, December 3, 2014 – Early signs show that Vietnam’s economic recovery is on track, says the World Bank’s Taking Stock report, released today. Vietnam’s economic growth is expected to improve from 5.4 percent in 2013 to 5.6 percent in 2014.

This positive outlook is largely due to the country’s ongoing macroeconomic stability and continued strong performance of the foreign-invested manufacturing export sector. Positive macroeconomic conditions contributed to Vietnam’s improved sovereign risk ratings, enabling US$1 billion of government bonds to be issued on international capital markets on favorable terms.

“Vietnam’s potential for much more rapid growth can only be realized if substantial progress is made in addressing distortions such as in the state enterprise and banking sectors, that tax the economy’s efficiency and productivity,”  says Victoria Kwakwa,  World Bank Country Director for Vietnam“Stepping up this reform agenda and strengthening the business environment are critical for moving forward.”

The report finds that underlying the broad pattern of economic recovery, the performances of foreign-invested and domestic firms remain dichotomous. The foreign-invested sector continues to be a significant source of growth, while the domestic private sector remains subdued, as reflected in the rising number of domestically-owned businesses that have closed or suspended operations.

Over the medium term, Vietnam’s macroeconomic outlook is good, with continued modest GDP growth and a further consolidation of macroeconomic stability. The outlook is subject to two key risks: (i) relatively slow progress on SOE and banking sector reforms could adversely impact macro-financial conditions; (ii) adverse turn of events in the global economy could undermine Vietnam’s growth prospects, given the relatively large size of the export sector.

The report has a special section on Financial Sector Assessment, which summarizes the major findings of the recent Financial Sector Assessment Program. The report highlights a complex array of institutional and regulatory factors that are responsible for the weak performance of the financial sector. The government has announced a comprehensive reform program designed to address these problems faced. The FSA provides a broad set of policy recommendations that can be used to operationalize the government’s program.

ADB Expects Cambodian Economy to Pick Up

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Cambodia Daily

The Asian Development Bank (ADB) is predicting a steady uptick in Cambodia’s economic growth to 7.3 percent and 7.5 percent in 2015 and 2016, respectively, on the strength of improved performance in the country’s trade partners and a tempered political environment at home.

The forecast is part of the Asian Development Outlook 2015, which the bank launched Tuesday and shows Cambodia continuing to outpace most of Asia and recovering from a slight dip to 7 percent growth in its gross domestic product (GDP) in 2014.

The ADB blames last year’s dip —down from an average growth rate of 7.2 percent over the previous three years—on political and labor unrest that dented both investor confidence and tourist arrivals, and on floods and droughts curbing agriculture.

The ADB says Cambodia will also benefit this year and next from robust domestic demand, a shrinking fiscal deficit, replenishing bank deposits and an improving—if still deeply negative—trade deficit. The bank also expects agricultural output to pick up modestly.

As for Cambodia’s prospects beyond 2016, the ADB said the economy would likely continue to slowly diversify its relatively narrow economic base—perhaps most importantly into light manufacturing—and integrate into regional and global supply chains.

The ADB Outlook urges Cambodia to do more to build up its infrastructure, improve the skills of its labor force and raise the incentives for foreign investment. It says the country’s special economic zones have helped to lure investors but shown little evidence that the firms they house are significantly outperforming the firms operating outside them.

The arrival of the Asean Economic Community at the end of this year has caused jitters about Cambodia’s ability to compete as trade barriers within the region begin to fall.