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Polish Central Bank Joins 2015 Rate Cutting Party – Ep. 58

March 4th, 2015|0 Comments

Poland became the 21st country to lower interest rates this year
New record low to 1.5%
Polish economy is strongest in three years
Growing faster than the U.S. economy
Policy conundrum: what is inflation target?
Low inflation stimulating Polish economy
Yet Central Bankers look to illogical Keynesian textbooks
Where is the evidence that deflation is undermining the economy?
There is no magical point where a good thing becomes a bad thing
If they overcompensate and weaken the economy, they will be raising interest rates on an already weak economy
Poland could afford to raise rates, however, if this policy fails, because their debt is low
U.S. debt is so high, we […]


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Allan Elliott, Ula Sowa and 93 others like this

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Tomek KaczorowskiPeter, you need to update your view on Poland. In the last 25 years, there has never been so much socialist/keynesian thinking in the country as it is today. Ever-rising taxes, national debt, bureaucracy, and bad law killing entrepreneurship. We have a big and arrogant government formed by Civic Platform - the party that seemed free market-oriented years ago, but now they openly consider themselves social democrats.10 hours ago   ·  6
Scott HalversonIt's a race to "debase currency"...China did it, and is having the worse growth in 20 yrs23 hours ago   ·  4
Ilona Magdalena MuszyńskaAll what is good in Polish economy is thanks to determination of people and not a government policy. We make business even if we do it in an unfriendly environment /complicated tax regulations, too high taxes, economical risk etc/, millions of us work abroad and transfer money to Poland to invest or for a consumption. We support our country but we still meet problems created by politicians.17 hours ago   ·  4
Rolo Tomasimuh rates!!!!! without government, who will cut the rates??????24 hours ago   ·  2
Ilona Magdalena MuszyńskaA government and central bank try to stimulate consumption but methods of their actions are not correct to this goal. Currently basic costs of living /rent cost, electricity, central heating, water, etc / take most of earned money what is result of high taxes, high cost of labour and also local monopoly in delivery some of above services. I observe serious problem on the local market which confirm that even low prices are not enough strong reason to stimulate consumption. It is just because people have no free money to do shoping - that is a trivial but true reason. Every third commercial premises in the center of the city (60 thousands habitants) is closed. Active shops and services have big problems with the lack of customers. The real source of a low consumption are: too low tax-free allowance / one of the lowest in Europe/, too high social security contributions /notabene a type of Ponzi scheme/, too high taxes /including 23 % VAT/. Now a government wants to create a demand using low cost of consumption credit. The same time doesn't stimulate system of saving which is motor of investment. An unprospective government policy is the road to nowhere.12 hours ago   ·  2
Krzysztof MachYes - they announced today or yesterday. And also I read an article written by someone working for OFE (retirement funds) that government has already eaten through half of the money they stole from OFE last year (billions of dollars). Nice, huh?23 hours ago   ·  4
Christiane LewellynWhat the music at the beginning of your show ?19 hours ago
Danny DevlinFor me the biggest bubble out there right now, is the amount of likes on Peter Schiffs page.....15 hours ago
George Papasthe world is ALL doing this and theirs good reason. banks create 95% of money by making Loans, they charge interest which doesnt exist on that money. its theft. governments create the remaining money by issuing bonds which forces citizens to pay taxes to pay the interest payments to the holders of those bonds. interest rates charged on money creation is what destroys the economy. thats why deflation is feared. its the natural process that ALWAYS happens when these thieves create our money. Deflation is actually a lack of money to even sustain production. peter thinks were still on a gold standard and money supply is constant13 hours ago
Maciek Matthewoh and Marek Belka (Poland's Janet Yellen) is a socialist. As a matter of fact he is from the far left party (as far left as you can go) that was founded by the ex communist politicians in Poland.22 hours ago
Maciek MatthewPoland's national debt is +/- 60% of GDP. Thats way lower than other countries in Europe and lower than the US ratio but still thats a big interest payment they have to make so I am guessing thats the real reason behind the 50 basis point cut.23 hours ago
Jake HernandezLol! "How many Polish Central Bankers does it take to lower interest rates?" Wait, Central Polish bankers? No North or South Poles?23 hours ago
Sam Vorhauersomeone needs to counter the propaganda that there is a failed libertarian movement in Honduras. The Economist magazine seems to think so.12 hours ago
Kyle ClarksonIt probably hurts when countries have a minimum hourly rate of pay. Other than that I don't see how it would hurt.9 hours ago
Jason BurtCaureen Burt Miller, it seems governments are pretty dedicated to cutting rates until forced not to.22 hours ago

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