Yep it’s mental. I don’t know the first thing about the oil industry but why don’t they just like stop pumping it out for a bit if it’s worth minus money per barrel ?
fucked if i know how it works. i dont think its meant to work like this though.
Yep.
Banks, hedge funds, Investment houses and mugs like me with private pensions have to put the money somewhere. I don't think it's delusion as much as a total lack of alternatives to put the money.
I'm in the pension at work and paid into The Local Government Pension Scheme for years.
Exactly. Over the years, whenever I’ve considered it to be a good time to not be invested in risky assets, the question I’ve always come up against is “So what isn’t risky? What’s the alternative, here?”
It's a good scheme, if they weren't constantly trying to move the goalposts with regard to paying out (although even with that it's far better than a private pension). But you need to be employed in certain state operations. And I don't think it's going to be immune to all of the shocks to come.
I have considered moving the money to a sipp and buying land. But the set up and management fees are eye watering.
Not to mention that anything tangible requires maintenance, which is not necessarily cheap.
Cant beat them join em eh?
I'm hoping to set up a small holding with a bit of b&b/camping at some stage in the next few years. So it might be compatible with that.
Isn't that what we are all essentially doing on a daily basis through our purchases, votes, actions, etc?
What's the alternative if you don't want to live your retirement in penury?
a smallholding in a remote and defendable position.
Likely to starve to death. Perhaps a community of such small holdings might have a chance.
Sounds a bit like communism to me.
