Zbigniew Piekarski asks God's banker for a remedy for the country's economic illness.
"In Japan the population share of the elderly, defined here as those at least 65 years of age, climbed from 12% to 17% in the past decade, and demographers expect it to reach 30% by 2030. The absolute size of Japan's working-age population is already declining and is projected to fall 20% over the next three decades."
- Alan Greenspan, February 27
The situation above is happening in Europe and America, too, and is one of the unstoppable forces that is destabilising all economies.
In our recent history, the producers, who were also consumers, who were also the taxpayers, were in the majority. They supported those who were in the autumn years of their lives. Now the balance is changing, and it is changing with astonishing speed.
The implications of this situation are real, and they present grave problems, particularly for France. The French Civil Service is extremely well remunerated in terms of pension benefits - benefits that are unfunded. Several recent studies have concluded that the French government will go bankrupt in six to 10 years should these benefits continue.
Why do you think that France is insisting that Dim Wim Duisenberg, the head of the European Central Bank be replaced by Tricky (Jean-Claude) Trichet, the governor of the Banque de France, or another French clone to run the ECB? Because he will do what Jacques Chirac tells him to do. Remember that under French tutelage, 95% of the EU's agricultural budget is unaccounted for.
I have consulted God's banker, Roberto Calvi, on what Poland must do in order to survive. (If you recall, Calvi was nicknamed "God's banker" on account of his close ties to the Vatican. On June 18, 1982, he was found hanging under Blackfriars Bridge in London. The authorities quickly stated that it was suicide. Last year, after exhuming his body and using the latest forensic techniques, they concluded that he was a murder victim. His son, Carlo Calvi, believes his father died because he would have testified about the activities of offshore companies controlled by the Vatican.)
Roberto Calvi's message from the Other World is as follows:
As Swiss Re, the world's second largest reinsurer, is to cut its dividend for the first time since the San Francisco earthquake of 1906, you know that things are worse than they now seem. All European nations, from Scandinavia to the Mediterranean, are seeing their economies stall and stumble with Germany leading the way down. Poland must effect bold and imaginative solutions that will release the creative potential of all its people and not enslave them with senseless bureaucracy and dying industries run by failed foreign-owned companies. The government needs new sources of income, and the economy needs an injection of energy. You must unleash the famed "Polish extemporisation."
Before anything else, the currency has to be reformed. Get rid of the grosz. When most shopkeepers regularly ask their customers for small change, then you know that the whole system is in trouble. Keep the 10-, 20- and the 50-grosz coins, but get rid of the rest. If you wait and effect major currency reforms all at once, then you tempt social unrest.
To get its economic house in order, Poland should also follow the examples of several countries. The country should, like the US and UK, get rid of "proportional pontification," which leads to inaction, and have a "first past the post system." Then, whoever is elected will be in a position to actually do something.
Poland should also follow the example of Estonia by eliminating corporate taxes and imposing a low, flat direct tax. Let the people decide on how they will spend their money. Like Japan, the country should reduce interest rates to zero now. You will be forced to do it along with the whole of Europe, so you should bite the bullet and be the first.
You should imitate the Czechs by constructing tented cities on the German border, selling anything and everything. Use your bus tour operators and travel agents to organise shopping expeditions for the Germans and other EU members.
Poland should follow the example of former East Germany and start building theme parks celebrating all aspects of life in the communist state. It should staff them with individuals who long for the past and allow them to provide a truly historical experience.
Poland should build on the example of the Dutch by legalising and taxing all drugs. This would have the immediate effect of reducing crime levels and spreading the rewards throughout the population rather than restricting them to the hands of the well-connected few. It would also boost export figures as the existing crop of amphetamines would become a legal export under the brand name "Polish poppers" and locally grown cannabis as "Gorale grass."
The country should follow the example of Australia by legalising all brothels, incorporating their workforce into the economy and forming the establishments into corporate entities. This would reduce unemployment by at least 4% and double the number of companies listed on the WSE.
Finally, you should follow the example of Cambodia under Pol Pot by giving the current crop of politicians and civil servants 10 hectares of land, a spade, a pig and a packet of seeds and force them onto the land to fend for themselves.
All of the above changes would dramatically reduce unemployment, immediately swell the coffers of the exchequer and boost the performance of the WSE. Imagine the influx of foreign investments under this scenario!
On the WSE: Beware March 21. The WIG peaked at 22,868.40 on March 27, 2002, and the WIG 20 at 2,510 on March 10 of that year. Prices will experience a steep decline over the next two weeks to bottom around the Vernal Equinox.
- Alan Greenspan, February 27
The situation above is happening in Europe and America, too, and is one of the unstoppable forces that is destabilising all economies.
In our recent history, the producers, who were also consumers, who were also the taxpayers, were in the majority. They supported those who were in the autumn years of their lives. Now the balance is changing, and it is changing with astonishing speed.
The implications of this situation are real, and they present grave problems, particularly for France. The French Civil Service is extremely well remunerated in terms of pension benefits - benefits that are unfunded. Several recent studies have concluded that the French government will go bankrupt in six to 10 years should these benefits continue.
Why do you think that France is insisting that Dim Wim Duisenberg, the head of the European Central Bank be replaced by Tricky (Jean-Claude) Trichet, the governor of the Banque de France, or another French clone to run the ECB? Because he will do what Jacques Chirac tells him to do. Remember that under French tutelage, 95% of the EU's agricultural budget is unaccounted for.
I have consulted God's banker, Roberto Calvi, on what Poland must do in order to survive. (If you recall, Calvi was nicknamed "God's banker" on account of his close ties to the Vatican. On June 18, 1982, he was found hanging under Blackfriars Bridge in London. The authorities quickly stated that it was suicide. Last year, after exhuming his body and using the latest forensic techniques, they concluded that he was a murder victim. His son, Carlo Calvi, believes his father died because he would have testified about the activities of offshore companies controlled by the Vatican.)
Roberto Calvi's message from the Other World is as follows:
As Swiss Re, the world's second largest reinsurer, is to cut its dividend for the first time since the San Francisco earthquake of 1906, you know that things are worse than they now seem. All European nations, from Scandinavia to the Mediterranean, are seeing their economies stall and stumble with Germany leading the way down. Poland must effect bold and imaginative solutions that will release the creative potential of all its people and not enslave them with senseless bureaucracy and dying industries run by failed foreign-owned companies. The government needs new sources of income, and the economy needs an injection of energy. You must unleash the famed "Polish extemporisation."
Before anything else, the currency has to be reformed. Get rid of the grosz. When most shopkeepers regularly ask their customers for small change, then you know that the whole system is in trouble. Keep the 10-, 20- and the 50-grosz coins, but get rid of the rest. If you wait and effect major currency reforms all at once, then you tempt social unrest.
To get its economic house in order, Poland should also follow the examples of several countries. The country should, like the US and UK, get rid of "proportional pontification," which leads to inaction, and have a "first past the post system." Then, whoever is elected will be in a position to actually do something.
Poland should also follow the example of Estonia by eliminating corporate taxes and imposing a low, flat direct tax. Let the people decide on how they will spend their money. Like Japan, the country should reduce interest rates to zero now. You will be forced to do it along with the whole of Europe, so you should bite the bullet and be the first.
You should imitate the Czechs by constructing tented cities on the German border, selling anything and everything. Use your bus tour operators and travel agents to organise shopping expeditions for the Germans and other EU members.
Poland should follow the example of former East Germany and start building theme parks celebrating all aspects of life in the communist state. It should staff them with individuals who long for the past and allow them to provide a truly historical experience.
Poland should build on the example of the Dutch by legalising and taxing all drugs. This would have the immediate effect of reducing crime levels and spreading the rewards throughout the population rather than restricting them to the hands of the well-connected few. It would also boost export figures as the existing crop of amphetamines would become a legal export under the brand name "Polish poppers" and locally grown cannabis as "Gorale grass."
The country should follow the example of Australia by legalising all brothels, incorporating their workforce into the economy and forming the establishments into corporate entities. This would reduce unemployment by at least 4% and double the number of companies listed on the WSE.
Finally, you should follow the example of Cambodia under Pol Pot by giving the current crop of politicians and civil servants 10 hectares of land, a spade, a pig and a packet of seeds and force them onto the land to fend for themselves.
All of the above changes would dramatically reduce unemployment, immediately swell the coffers of the exchequer and boost the performance of the WSE. Imagine the influx of foreign investments under this scenario!
On the WSE: Beware March 21. The WIG peaked at 22,868.40 on March 27, 2002, and the WIG 20 at 2,510 on March 10 of that year. Prices will experience a steep decline over the next two weeks to bottom around the Vernal Equinox.
