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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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Scott HalversonIt's a race to "debase currency"...China did it, and is having the worse growth in 20 yrs15 hours ago   ·  4
Rolo Tomasimuh rates!!!!! without government, who will cut the rates??????15 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.3 hours ago   ·  1
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.8 hours ago   ·  1
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?15 hours ago   ·  4
Christiane LewellynWhat the music at the beginning of your show ?10 hours ago
Danny DevlinFor me the biggest bubble out there right now, is the amount of likes on Peter Schiffs page.....6 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 constant4 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.14 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.14 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?14 hours ago
Tomek KaczorowskiPeter, you need to update your view on Poland. In the last 25 years, there has never been so much socialism/keynsian 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.1 hour ago
Sam Vorhauersomeone needs to counter the propaganda that there is a failed libertarian movement in Honduras. The Economist magazine seems to think so.3 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.36 minutes ago
Jason BurtCaureen Burt Miller, it seems governments are pretty dedicated to cutting rates until forced not to.13 hours ago

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Frédérick TêtuPeter: I just came up with an expression that sums up much of your analysis of the past few years: ''the US economy is being photoshopped''.2 days ago   ·  8
Jim TomborThere are some real companies in tech just like in late 90s, but when you see a company sold for $19B with $30M in revenues (What's Ap), the feel of the late 90s is hard to ignore. What makes now different than late 90s is 6 years of 0% interest rates and $4T of freshly printed money. To say there won't be a price to pay for both is not seeing through the creation of the excess. Just like most people didn't see the housing excess 10 years ago, this will end the same way, just much worse.2 days ago   ·  6
Christopher AdamsIt's different this time.2 days ago   ·  5
Danny DevlinAt 300 I said bitcoin was over priced, at 400 I did too, and 500, 600. 700. 800. 900, 1000 and especially at 1100. I hope you all cleaned up on my sell it at 300 advice, as it's now 250! ..... That's straight out of Peter Schiffs advice playbook! .... now I can say "I called it right"2 days ago   ·  5
Paul Butleryou are right on the money peter, 100%2 days ago   ·  2
Jeremy DavidsonJust keep the sheep thinking the money is real and the game continues.2 days ago   ·  1
Jim PC HendonSure but who could honestly say the markets are not being manipulated? It may not be when the bubble busts but when the curtain falls in the land of Oz.2 days ago   ·  1
Adam RussellPeter, talk about negative interest rates amd why they can or can't exist.2 days ago   ·  1
Marlon G. CunhaPeter is looking the big picture, meanwhile this others traders is just looking the small one.2 days ago   ·  1
許景竤at least, they are better then weatherman.2 days ago
Jason DotsonOf course its a bubble.2 days ago
Cesar RosalesYes2 days ago
Steven MolaskeyI like the analogy, either look like a fool before the bubble pops or after.1 day ago
Greg DavenportBull bear spread is at crash levels, historically speaking anyway. I bet the naz pulls back at least 10% before it it's 5200. We're into resistance.... A pullback would open the door for qe4. Makes sense to me.2 days ago
Joe GaffneyWould it be at 5,000 without Fed fueled asset inflation? Then it's a Fed induced asset bubble not based on fundamentals.2 days ago
Danny Devlin"Peter Schiff made a great call 9 years ago" ..... says it all.2 days ago
Jake HernandezThat guy was partially right. Even in bad economic times, innovations don't stop. But the best innovations and sometimes even the fastest rates in technology improvement happen after recessions, not during booms.15 hours ago
John LexineYes it is a bubble2 days ago
Albert DileoThe Dow is a huge bubble as well.2 days ago   ·  1
Kenyon Lee KrauseSuper high and based on cheap fake money, once again.2 days ago   ·  1
Paul Butlerthis guy has cashflow of worthless dollars in a year or two2 days ago   ·  1
Stephen Woenker^^^^2 days ago
Albert DileoGreat show today Pete, and the parade of bad news continues2 days ago
Albert DileoOf course2 days ago
Michael Smithhigher numbers don't make our lives better, a higher standard of living does. is your standard of living higher now or 5 years ago?1 day ago

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