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Peter Schiff - Poland's Economy is No Joke



January 15, 2010 – Comments (4)

Watching the world’s leaders stumble their way through the economic crisis, it often feels as if political success and economic understanding are mutually exclusive. Even the Chinese, who over the past generation have engineered a dramatic turnaround from their Maoist economic nightmare, show a remarkable willingness to pursue a monetary policy (a currency peg to the U.S. dollar) that yields no benefit to their citizens. Amid this morass of economic quackery, it is refreshing to see a clear ray of sanity emanating from one country: Poland.

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4 Comments – Post Your Own

#1) On January 15, 2010 at 8:17 PM, russiangambit (28.70) wrote:

I guess the former communist countires have not yet fully abandoned common sense.

My first few years in the US I ws always shocked by the willingness of people to assume debt, which went completely against common sense. But then I accepted it thinking, they must know what they re doing since they live so much better. Ha. I guess common sense works so much better still.

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#2) On January 15, 2010 at 9:47 PM, whereaminow (< 20) wrote:

More on Poland.

David in Qatar

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#3) On January 15, 2010 at 11:28 PM, EconGrapher (< 20) wrote:

In my opinion its fine to take on debt if you can afford it, and even better to take on debt if it's for an investment (and you can afford it). But some people miss the "can afford it" part, including corporations and governments...

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#4) On January 16, 2010 at 3:17 PM, alexxlea (62.74) wrote:

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