Poland highest inflation in 20 years

Forum losers do two things: get personal or refer to a higher authority. You did both to eliminate all doubt.

ECB is as much a joke as our "Fed" - a never-audited, private, accountable-to-nobody bunch of swindlers who can create trillions in less than a second and hand this "money" over the ruling mob to hide their criminal overspending.

Yes, you are. Unfortunately you don't want to accept that.

Anyway, you're drifting off the topic of inflation in Poland. It's a very serious issue.


As true as you'll find, since they're the second largest Central Bank in the world and do actually have to be careful about what they say regarding economic conditions in Europe. Unlike yourself who can and does shoot his mouth off (often in a foul way) for the sake of trying to be contrary.


Unlike yourself (also not an economist) I have to live with economic decisions in Europe and it's hard to see what's inaccurate about describing your comment that the world's second largest Central Bank is a "never-audited, private, accountable-to-nobody bunch of swindlers" as untrue. Since it is of course untrue as well as pointlessly argumentative as well as yet another example of you embarrassing yourself with your deranged drivel.

Your pointlessly rhetorical question about the Federal Reserve? Other clowns have asked that here just as a clown is asking it now. Why not google it? I just did, and the information you crave is on their website: federalreserve.gov/faqs/about_14986.htm

Because I already know it. I never ask questions I don't know the answers to.

Bank of England - the single most important part of the UK - is not even a Ministerial department! What???

The Department for Culture, Media & Sport is right up there along with other equally stupid bureaucracies as a Ministerial department. But not the Bank of England. Sure...

Do you know why? Because they are hiding the fact that it's private and 100% beyond the control of the UK government and citizens. Cutely, they call it "independent".

Pointless really.


It isn't meant to be, as well you know. Its independence in carrying out its day to day duties is a key part of its operation. The government (who own it) could change that in a stroke and it is accountable to the people's elected representatives who make all senior appointments however the whole point is that it operates independently for very good reason.

As well you know.


Neither of those are true. It isn't 'private' (and hasn't been for 60 years) nor is it beyond democratic control. See above.

Stop trying to pointlessly argue; your comments are bar room level. You lost the argument you tried to start so cut the burble. You're trying to derail a thread about important matters in Poland. Things that don't affect you but do affect many who post other read here.

BS. Your government, just like the scum here, can't do sh*it about the rates your bank sets.
When was the last time Bank of England was ordered to lower the rates to help the economy? The answer: Never.
The first test of ownership is control. What you don't control, you don't own. Duh!


We started about inflation in Poland. You don't even know what inflation is so stay in your lane and don't talk crap.

Stick to the topic please

If the Polish government was honest it would have a referendum to ask the citizens of Poland if they support keeping the war going and the refugees. Those who would say yes would get a monthly bill for the goods and services given by Poland to Ukraine.

But the Polish government is not honest with the citizens and simply prints money to hide the true cost of Polish generosity. This, in turn, makes zloty less valuable and results in a general increase in prices.

This, dear children, is all you need to know about "inflation", why governments like lying about it, and what causes it. No, it's not the unions, weather, Arabs, or Putin. It's your Central Bank and the thieves who run it in cahoots with the ruling mob that loves spending to look noble.

The above post is of course the opposite of reality.

But hey, Rich thinks he knows more than the people who actually have to deal with economic trends.

This time it does not work like that, for example in the Czech Republic there is a large price increase and the Czech Crown has been gaining value against the Euro for years.

Prices can go up due to at least three factors: supply and demand, taxes and fees, and printing.
Currency A may be gaining against currency B if currency B is inflated faster. Example: dollar vs zloty.

And a massive surge in manufacturing costs and other overheads due to oil supply.

Hey, econ genius, I just said it...supply and demand. Printing is separate and in addition to supply and demand. To people with IQ higher than 70 printing is known as "inflation of money supply" or simply "inflation". Got it or was it too fast?

"Supply and demand" includes everything needed to create the final product. Oil is just one of the components.

For once you're right.


So you agree with me, that the crisis supply of fuel for energy and raw materials like packaging or the product itself caused by the war is a strong contributing factor in inflation.


What do you think all plastic and most agricultural fertiliser are made of? Pixie tears?

It's all made from fossil fuels, from the shrink wrap round the pallets, the contents of the pallets themselves and the wrapper on lorry driver's Mars Bar.

I will say it one more and then I am done with you:
Inflation is an increase in the money supply. The decision to "print" or not to "print" is in the hands of Central Banks in conspiracy with their ruling mobs aka governments.

No, less oil is not "inflation". Arabs can't print Euros.

I am done. Go away.

Say it ten thousand times. It still doesn't alter the fact that one of the largest driving factors in the current inflation surge is r*SSia's illegal and unprovoked invasion of Ukraine and the consequent crisis in fuel/raw materials supply.


So if half the currency in Poland were withdrawn from circulation by the NBP, do you think inflation would suddenly go down?

No, idiot. Printing money is. Oil prices are the same. 80 per.

Learn manners.


You still don't get it, do you.

That or you're just trying to argue pointlessly for the sake of it.

If you think the world's Central Bankers are all lying and a retired factory worker knows something that economists don't, so be it.

...by hiding the fact that only they can and do cause inflation.

You can't, I can't, my barber can't, Home Depot can't, unions can't, garbage collectors can't, farmers can't, coal miners can't...

Only the big overspending government in conspiracy with the Central Bank CAN. Duh!


I will answer after you define "inflation".

Better yet...Get lost!

Crikey, uipierdliwy or what?

The war is a universally accepted causative factor in the current inflation crisis.

But hey, a wiseguy thinks there are conspiracies.

Certainly these two are those most capable of directly affecting inflation, but it doesn't mean it's necessarily caused by them.

In the case of the United States, insane spending definitely played a role in driving a surge of inflation. However, it's hard to say to what extent it was a bigger factor than the pandemic-related supply chain shocks.

Trump passed a total of $3T in pandemic stimulus bills, and then Biden another $1.9T. That's basically $5 trillion dollars of spending that would not have occurred otherwise. Inflation surged immediately after - this was not a coincidence. They were literally putting thousand dollar checks into every American's pocket - driving up demand for everything, while at the same time supply was struggling more than ever before due to myriad bottlenecks created by the pandemic.

Shortages of key components, such as chips, drove up the price of everything - from cars to medical equipment.

In any case, what you guys are discussing is an incredibly complicated subject, that economists have debated over for centuries. What is inflation, and what causes it, is not a straightforward thing at all. The modern debate is between a monetarist school (broadly what Novichok argues), and the Keynesian school (which argues that short term fluctuations in demand as well as cost pressures play an important role).

To some extent, you folks are conflating a currency's devaluation, with an increase in the price of goods - but that is not always the case, and this is easily demonstrable. Anyway, let's not make this an academic debate.

It seems that my point is not registering.
Inflation is strictly about the supply of money. The prices we pay are another matter and should be called the cost of living.

It happens every day that inflation (supply of money) goes up because the bastards (Central Bank) "print" more and, at the same time, some prices actually go down.

To call an increase in price inflation is simply incorrect and is done because people are lazy and got used to it. The ruling mob likes the confusion because it helps them to hide that it was them who caused inflation by printing more money to feed the spending addicts at the top - aka "government".

One more time: the supply of money and the supply of goods are two different things that coexist every waking moment. Which contributes what to the final price is a separate issue.

The ruling mob are not in control of this, they do not like confusion and they are genuinely just trying to keep everything going any which way they can.

They like to confuse voters as to what causes "inflation". The wh*ores that work for the mob - aka reporters - lie and thus confuse voters by claiming that it is unions, weather, and everything else othen the gov spending sobs. That's what I mean by "the mob likes the confusion". These bastards are never confused themselves.

Inflation at a reasonable level is the basis of any well-functioning economy, so sometimes it's good to print some money, especially if you have a deficit as a country.

It's natural at a low level, rather than the basis.

Of course the war and the consequent rise of production costs is a huge factor in the current crisis and won't go away as soon as r*SSia is defeated.

We got conditioned that banks owe us interest when we deposit money in savings accounts. The problem is with where that interest is going to come from. It has to be "printed' as new money. That's why the so-called compound interest as a way to get richer is a lie and illusion.

5.27 zl to sterling at the moment.

I wonder if that will increase.

It will. The Central Bank led by a PiS nominee is contributing to it greatly.

The leader of Poland's largest opposition party accused central bank governor Adam Glapiński of acting under political influence on Thursday (Sept. 7) , after a bigger-than-expected rate cut stunned markets weeks before a parliamentary election.

Poles will vote on Oct. 15 and with the cost of living a key battleground, a 75-basis-point cut in the benchmark interest rate on Wednesday came as welcome news to people struggling with higher mortgage repayments.

However, economists have said that with inflation still in double digits, lowering the main interest rate to 6.00% risks entrenching high price growth. A narrow majority of analysts polled by Reuters had expected a 25-basis-point cut.

The inflation is no longer Putinflation, it is PiSflation.

GBP already up to 5.40 on the basis of this instance change

Similar moves for the USD and EUR

That was expected but this was too much. election stunt hope it dont backfire,they might have to dbl the increase after election.
But all good by me hope the inflation shoots up to 25%,I will be a very happy man.

Haha! Yes, one man's loss is another man's gain.

One structural problem Poland has been experiencing over the last decade or so, is that the cost of manufacturing there has been rapidly catching up with the EU average. Perhaps PiS is attempting to pull an Erdogan, and at the expense of the average Pole's misery - make Polish exports very competitive once again.

Runaway inflation is not great for consumption - so probably not great for PolAmKrakow - or anyone that earns from people buying food in zlotys. However, it's great for whoever is bringing hard currency into Poland with an eye to buying things on the cheap.

You don't even necessarily have to be bringing dollars and euros in, you could just be paid in them inside Poland. Then Polish pain can still be your pleasure.