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Pensions decimated

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  1. #61

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    Quote Originally Posted by East_coast:
    The BoE still has low rates at 2.25%

    The USA & Canada are already at 3.25% and rising faster

    https://www.global-rates.com/en/inte...ral-banks.aspx
    Since the move by the BoE was announced the Pound has fallen from 63.30 to 62.98 against the Peso.

    Edit, a few minutes later 62.52. Clearly the market is not impressed (and neither am I)
    Last edited by hullexile; 28-09-2022 at 07:14 PM.

  2. #62

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    So... what's gonna happen first... Liz getting defenestrated or Xi pegging the RMB to the HKD when it hits parity


  3. #63

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    Printing more money to keep pension funds afloat, this is going to end well:

    https://www.ft.com/content/756e81d1-...4-206386353c4e

    East_coast likes this.

  4. #64

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    Quote Originally Posted by qhank:
    Printing more money to keep pension funds afloat, this is going to end well:

    https://www.ft.com/content/756e81d1-...4-206386353c4e
    Shouldn't private pension funds be thrown under the bus on the trilemma of

    recession v devaluation of currency v inflation

  5. #65

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    Quote Originally Posted by East_coast:
    Shouldn't private pension funds be thrown under the bus on the trilemma of

    recession v devaluation of currency v inflation
    No. Losing your pension is devastating. I lost mine (Equitable) but I was still in my 30s. Imagine if you had a couple of years left? Those pensioners then become a drain on the state.

  6. #66

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    Quote Originally Posted by hullexile:
    No. Losing your pension is devastating. I lost mine (Equitable) but I was still in my 30s. Imagine if you had a couple of years left? Those pensioners then become a drain on the state.
    They are not losing it but just being encouraged to spend it in the UK as travel abroad will be expensive compared to the very cheap feeling from before. GBP is probably closer to where its long term future will be.

  7. #67

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    Quote Originally Posted by hullexile:
    No. Losing your pension is devastating. I lost mine (Equitable) but I was still in my 30s. Imagine if you had a couple of years left? Those pensioners then become a drain on the state.
    This time around the funds had margin calls due to punts in some 'complex derivatives'... Too bad none of them were invited to Liz's dinner..

  8. #68

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    Quote Originally Posted by East_coast:
    They are not losing it but just being encouraged to spend it in the UK as travel abroad will be expensive compared to the very cheap feeling from before. GBP is probably closer to where its long term future will be.
    I only glanced at the story but I thought there was the risk of the pension funds going belly up?

  9. #69

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    Name:  Liz.jpg
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    Still much better these clowns than the Goon in red.
    East_coast likes this.

  10. #70

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