AyG
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Post by AyG on Mar 19, 2020 12:19:39 GMT 7
OK, not all the cruelty of the Tories. That would take days, if not years or decades, to outline. In this case I'm thinking about the shift from final salary pensions to money purchase. Absolutely great for the capitalist bosses, but for the workers, not so good.
I feel sorry for pensioners who've had their pension pots ravaged and can now safely withdraw only a fraction of what they were able to last year.
I feel sorry for individuals not yet retired who will panic and now switch from equity investments to cash.
I'm fortunate since my pension pot was virtually wiped out by the Equitable Life fiasco and the subsequent failure of the government to provide adequate compensation. Little money left there for me to worry about.
I look back to the days, now long gone, where employers such as Cadbury, Colman (as in mustard), Rowntree, Robinson (paper manufacturer) and Massey understood it was their moral imperative to look after their workforces and their workforces' families.
Anyway, George Orwell once wrote “If you want a picture of the future, imagine a boot stamping on a human face—for ever.” It's no longer the future; it's already here.
Edit: Whoops! How could I forget Titus Salt and Lever in my list of the good.
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AyG
Crazy Mango Extraordinaire
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Post by AyG on Mar 19, 2020 17:05:04 GMT 7
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siampolee
Detective
Alive alive O
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Post by siampolee on Mar 19, 2020 19:04:03 GMT 7
And in the short term, yes, it's a disaster for fund managers. But let's see what the picture is like in six months' time.
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Post by rgs2001uk on Mar 19, 2020 20:16:42 GMT 7
And in the short term, yes, it's a disaster for fund managers. But let's see what the picture is like in six months' time. As I mentioned in another thread, the ripples are now spreading, the pommie peso is the latest to be trashed. Have already decided, if it hits 30 baht, I am out of here, and the mrs cant wait. Nothing to do with Thailand or its people, more to do with quality of life. Short term, , look at the long term, there are people whose pension funds will never recover. Sadly at the moment, there is no one driving the bus, its everyone for themselves, gawd knows what going on in greece or italy, their countries are basically reduced to junk bond status, more like zimbabwe or venezuala than europe. Merkels worst nightmares are about to come true, the break up of europe, as they are thrown under the bus to spare the german people, and too be honest, I wouldnt blame her.
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Post by rgs2001uk on Mar 20, 2020 20:51:06 GMT 7
And the ripples continue to hit the shores.
I personally know of people who have pulled out of house purchases, people who are now having problems selling their house.
One has postponed his retirement.
Another is about to toss a six figure sum into NS&I
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smokie36
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Post by smokie36 on Apr 25, 2020 1:12:51 GMT 7
And in the short term, yes, it's a disaster for fund managers. But let's see what the picture is like in six months' time. Revised this picture yet old chap?
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smokie36
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Post by smokie36 on Apr 25, 2020 1:13:31 GMT 7
And the ripples continue to hit the shores. I personally know of people who have pulled out of house purchases, people who are now having problems selling their house. One has postponed his retirement. Another is about to toss a six figure sum into NS&I Meanwhile my mattress gets more lumpy. Oh well.
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siampolee
Detective
Alive alive O
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Post by siampolee on Apr 25, 2020 12:21:22 GMT 7
Seems the family trust has suffered very little. All the revenue producing entities are performing fine income stable.
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Post by rgs2001uk on Apr 25, 2020 20:57:19 GMT 7
Seems the family trust has suffered very little. All the revenue producing entities are performing fine income stable. Good man, always nice to read a success story, at the moment, I am still down about 15%. Mine are based on growth not income, got a letter in the other day, a pension fund I am part of sent me an update to let me know, my pension will be updated for an extra 1.7% for this year, great news, not even claiming it yet, makes me laugh when i read the tales of woe elsewhere about pensions not being updated because we are in Thailand.
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siampolee
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Alive alive O
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Post by siampolee on Apr 25, 2020 21:26:20 GMT 7
To be fair I should say that the income generators are actual commercial enterprises pwned by the family trust. Not investments in stocks, shares per se. Financial advisers are old fashioned as they believe in cash flows, money talks and has done so for the last eighty years.
Grandparents were old money due to their great grandparents and other assorted kith and kin who made their money from railways in the day.
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onionluke
Crazy Mango Extraordinaire
I escaped from the dark and dingy orlop only to be captured by cattle rustlers and now
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Post by onionluke on Apr 27, 2020 1:54:20 GMT 7
May I ask the venerable members, "Who will benefit from the Covid-19 state in the financial sector?"
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siampolee
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Post by siampolee on Apr 27, 2020 9:24:48 GMT 7
My two pennyworth is, who or what created the mass hysteria concerning this Covid-19 issue ? Follow up question. Where and perhaps why was it created, how did it evolve, natural progression or man made ? Indeed a wonderful advance ploy for controlling people and as suggested commercial issue too.
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AyG
Crazy Mango Extraordinaire
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Post by AyG on Apr 27, 2020 9:50:02 GMT 7
We can cut that list down a bit based upon modern medicine.
The plague is bacterial (Yersinia pestia), so can be treated by antibiotics, and there is also a vaccination against it.
Cholera is also bacterial (Vibrio cholerae) and can be treated by antibiotics and vaccinated against.
Smallpox (Variola spp.) is the same, though it's now been eradicated globally.
That leaves us with the viral diseases.
Yellow fever can be vaccinated against.
There are effective vaccines against influenza which can limit its spread.
Contracting HIV is largely voluntary. Don't have sex with another person or unscreened blood transfusions and you'll be OK.
Ebola has a vaccine.
MERS, SARS and SARS-CoV-2 (which causes COVID-19) are all coronavirus for which there is no effective vaccine. (There's a promising one on the way for MERS. Works well in mice.) Fortunately, neither MERS nor SARS was very effective at spreading rapidly. That's not the case with SARS-CoV-2 which has spread globally at an alarming rate.
So SARS-CoV-2:
- spreads rapidly - can't be treated by antibiotics - no vaccine - kills.
So unless taking chloroquine, injecting oneself with bleach, or shining a flashlight up one's arse proves to be miracle cures, this virus represents a unique threat to modern society.
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smokie36
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Post by smokie36 on Apr 28, 2020 2:05:56 GMT 7
May I ask the venerable members, "Who will benefit from the Covid-19 state in the financial sector?" Me.
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Post by rgs2001uk on Apr 28, 2020 21:52:17 GMT 7
May I ask the venerable members, "Who will benefit from the Covid-19 state in the financial sector?" Me. Hows your pension fund coming along? mine has been trashed.
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