Poland's economic experiment based on Thomas Piketty
bloomberg.com
Poland's economic experiment based on Thomas Piketty
1–10 of 88 posts
Re: Poland's economic experiment based on Thomas Piketty
#2> That has meant a negative household saving rate, compared with Germany's 10 percent of disposable income.
Isn't it because majority of Germans rent and majority of Poles buy?
Re: Poland's economic experiment based on Thomas Piketty
#3I can see that Bloomberg is still bloomberging:
First paragraph:
>> "Poland: reasonable strategy roiled by leftist impulses."
The current government is a far right Catholic party that has just enacted a law partly denying the Holocaust (somewhat related to this, one of their senator sparked a scandal by posting actual Nazi propaganda online), and the country may have its EU voting right suspended due to the administration's attacks against the judiciary. But yeah the most important thing is that one of their economical policy happens to be left-leaning.
On the economist Thomas Piketty:
>> "Last month, the anti-capitalist economist wrote about ..."
Piketty is left-leaning, not "anti-capitalist".
Caption of a Piketty photograph:
>> "Only academic. Until now."
Piketty has been a (prominent) advisor for politicians on the French left for at least a decade.
You go Bloomberg "News". You keep doing you.
Re: Poland's economic experiment based on Thomas Piketty
#4I can see that Bloomberg is still bloomberging: First paragraph: >> "Poland: reasonable strategy roiled by leftist impulses." The current government is a far right Catholic party that has just enacted a law partly denying the Holocaust (somewhat related to this, one of their senator sparked a scandal by posting actual Nazi propaganda online), and the country may have its EU voting right suspended due to the administr…
> The current government is a far right Catholic party [...]
More like "far center, a little to the left", with a twist for religion and nationalism. It doesn't have that much with being pro capitalism.
Re: Poland's economic experiment based on Thomas Piketty
#5Article written by Russian banker living in Germany.
Can't possibly be biased.
Re: Poland's economic experiment based on Thomas Piketty
#6> That has meant a negative household saving rate, compared with Germany's 10 percent of disposable income. Isn't it because majority of Germans rent and majority of Poles buy?
If you compare the cost of a mortgage, and a rent, they are very similar in Poland. So after 30 years you can sell the flat/house and you will get half of that money back. It's better than nothing.
Half, because usually the total mortgage cost for 30 years is about 100%.
Re: Poland's economic experiment based on Thomas Piketty
#7I can see that Bloomberg is still bloomberging: First paragraph: >> "Poland: reasonable strategy roiled by leftist impulses." The current government is a far right Catholic party that has just enacted a law partly denying the Holocaust (somewhat related to this, one of their senator sparked a scandal by posting actual Nazi propaganda online), and the country may have its EU voting right suspended due to the administr…
Pump your breaks there kid - the only thing that is being denied is that occupied Poland had anything to do with the installment of the holocaust by the Germans (they were next in line to the chimney). As much as I don't like the asshats from PiS, I do understand where they are coming from, after seeing "Polish concentration camps" in the western press on a monthly basis. To your other point - most of the polish judiciary has roots in the communist prosecution apparatus and is actively shielding all of the assholes that had a soft landing after the "toppling" of the communist government. Fuck'em.
Re: Poland's economic experiment based on Thomas Piketty
#8> That has meant a negative household saving rate, compared with Germany's 10 percent of disposable income. Isn't it because majority of Germans rent and majority of Poles buy?
If you compare the cost of a mortgage, and a rent, they are very similar in Poland. So after 30 years you can sell the flat/house and you will get half of that money back. It's better than nothing. Half, because usually the total mortgage cost for 30 years is about 100%.
Is that mortage cost in real terms? If interest rates are close to appreciation rate, you might break even in real terms (apart from tax/maintenance costs).
Re: Poland's economic experiment based on Thomas Piketty
#9Earlier quoted context omitted.
If you compare the cost of a mortgage, and a rent, they are very similar in Poland. So after 30 years you can sell the flat/house and you will get half of that money back. It's better than nothing. Half, because usually the total mortgage cost for 30 years is about 100%.
Is that mortage cost in real terms? If interest rates are close to appreciation rate, you might break even in real terms (apart from tax/maintenance costs).
That's what I saw in simulations for a 30 year mortgage shown by multiple banks. The amount of what I'd pay was twice the house cost. The interest rate was then around 3-4%, the appreciation rate about 2%, if I remember correctly.
So generally 100% more is a lot. However after 30 years you can sell the house, and what you get is still much more than renting, when you get nothing at the end.
Re: Poland's economic experiment based on Thomas Piketty
#10I can see that Bloomberg is still bloomberging: First paragraph: >> "Poland: reasonable strategy roiled by leftist impulses." The current government is a far right Catholic party that has just enacted a law partly denying the Holocaust (somewhat related to this, one of their senator sparked a scandal by posting actual Nazi propaganda online), and the country may have its EU voting right suspended due to the administr…
> The current government is a far right Catholic party [...] More like "far center, a little to the left", with a twist for religion and nationalism. It doesn't have that much with being pro capitalism.
And conservatism. It is hard to categorize them easly, but they don't seem to be center of political scene in my opinon.