Same page....
alors..
c'est tres diffificle....
mais je comprendre (j'espere)
Was a bit after my Dad's hovering off the coast of Vietnam if I'm honest....Quite easy to build a counter argument to Mr Starr of all the devepments that wouldn't have happened without war...but thermonuclear ...leave that to JoshuaI remember both well. Edwin Star was v popular in my Methodist youth club - it was the rhythmic "hook" as much as the lyric. I think Nixon's abolition of the Gold Standard was not fully understood at the time - but then we had the Heath government "doing a Kwasi Kwarteng" to occupy our tiny minds.
There are loads of funded defined income benefit schemes that would be affected.This grabbed me - lifted from the FT I think
I haven't had access to a defined income pension scheme since 1983. These are for civil servants and knobs, surely?NCR News: Latest News, Viral News, Local News, India News
NCR News: Read the Latest News, Viral News, Local News, India news, Health news, finance news, business news, technology and auto news.www.newsncr.com
I can think of a couple of BT executives in Brixton who have benefitted greatly from "early retirement" [like 25 years early on such inflation busting deals].
Why are "we the people" paying £65 bn to preserve pensions for parasites?
This is completely true every time, until it's not. Humans are ever in a state of either normalcy bias or mortality panic.There are always people preaching doom and there are always people saying it’s all about to go to the moon. At any point in time, there is somebody saying expect an imminent 50% collapse and there is somebody advising you to put it all into the latest fad. It’s worth remembering, however, that the market is overall made up of the balance of these people, and the prices already reflect the current average view of things.
Lots of investors there in that article. Where is chairman Mao when you need him ?
It's divide and rule mate! All very well if "one" is ex Lambeth Council early retired on 2/3 of a good salary.There are loads of funded defined income benefit schemes that would be affected.
Mine is the Local Government Pension scheme, with something like 6 million members and is worth £342bn. I'm guessing that's one of the schemes that could have come completely crashing down without intervention from the BoE. Loads of others too - even though most private ones have been phased out, they'll still be paying out benefits to retirees.
Glad we're all parasites to you!
It seems that some of pension funds facing an inability to meet margin calls from the banks etc. had been crying out for action from the Bank in the days before they moved.The BoE is always way too slow to react on interest rates IMO (insert joke about the MPC and 'design by committee' here).
I was mildly surprised that they reacted as quick as they did on buying the government bonds yesterday. I say mildly because not acting there and then may have sunk pension funds that very afternoon with some very real individual consequences.
It seems that some of pension funds facing an inability to meet margin calls from the banks etc. had been crying out for action from the Bank in the days before they moved.
Well my question is this:
Is it worth moving from National Savings @1.2% into a 2-3 year fix with the Market Harborough Building Society @ 4.05%.?
I meant savings not a mortgage, so no exit fees - but in any case your answer still seems right, which is why I'm holding on.It's a tough call, especially if you have exit fees. But currently it's the only thing that will give you short term certainty and there's absolutely no certainty that rates won't go above 4.05% right now.
I meant savings not a mortgage, so no exit fees - but in any case your answer still seems right, which is why I'm holding on.
Lots of useful advice on this threadWell my question is this:
Is it worth moving from National Savings @1.2% into a 2-3 year fix with the Market Harborough Building Society @ 4.05%.?
The BoE is always way too slow to react on interest rates IMO (insert joke about the MPC and 'design by committee' here).
I was mildly surprised that they reacted as quick as they did on buying the government bonds yesterday. I say mildly because not acting there and then may have sunk pension funds that very afternoon with some very real individual consequences.
Pretty much I agree. Or maybe from the BofE's point of view it's not so much protecting homeowners but the lenders from any falls. Politicians would be wary of the wrath of homeowners though AND not wanting another round of lender bailouts.It’s been 20 years of protecting house prices at all cost.
How come when interest rates change derivatives traders seek to get bailed out?
Credit Suisse Turmoil Deepens With Record Stock, CDS Levels
Credit Suisse Group AG’s gauge of credit risk rose to a record high while its stock hit a fresh low, adding to the turmoil after the bank’s attempts to reassure markets on its financial stability backfired.www.bloomberg.com
Just thought I would hoy this up
It’s not a lehmans and don’t think it’s massively systemic. Just a shit company in a shit business . Meh. More grist to the Bitcoin hype industry . Fiat etc
"There must be in-groups whom the law protects but does not bind, alongside out-groups whom the law binds but does not protect."How come when interest rates change derivatives traders seek to get bailed out?
I thought derivatives were supposed to stop traders in real things needing to be bailed out.
Couldn't we cut out a whole layer of parasites here?
Durkheim or Karl Marx?"There must be in-groups whom the law protects but does not bind, alongside out-groups whom the law binds but does not protect."