Just under £300bn has been wiped off the value of UK corporate bonds since the start of this year following a major sell-off in the bond market in what is considered the biggest collapse in two decades.
In the first six months of this year, the total outstanding value of UK corporate bonds has fallen by 13.3% from £2.237 trillion to £1.940 trillion, a fall of £297.5 billion.
Aren’t we all just so grateful that Spudnomics was instituted. So all our pensions are invested in high interest bonds at 1%?
Spud insists that a redistribution of wealth is what is needed, so a colleague of mine asks…..
“How much of your own wealth will you be redistributing, Richard?
You’re sat in a mortgage free house worth 100s of thousands of pounds. Think of the help that would give to some of the poorest in society.
You’re predicting deaths through poverty this winter. Will you act to save lives by taking equity release and donating to the poor? Surely you won’t put your own finances ahead of the lives of the poor? Surely what you write isn’t just posturing?”
It is so very Guardian, isn’t it. Other people’s wealth must be commandeered to solve the world’s problems whilst theirs remained sacrosanct. The Polly Toynbee Solution delivered from the perspective of a lifetime of privilege. Talking about the Graun, didn’t some big cheese there recently receive an eye watering pay award? The Graun that has the the begging bowl at the bottom of every webpage.
Lord Spudcup is also calling for riots, and complaining nobody’s taking up his call.
” Talking about the Graun, didn’t some big cheese there recently receive an eye watering pay award?”
Yes, Katherine Viner the Guardian editor got a 42% pay increase, which meant a rise of £150k in cash terms. Apparently fat cat pay rises are fine, if you’re suitably woke……..
£300bn has been wiped off the value of UK corporate bonds this year
£500bn of QE money created 2020-2022
I see a link there, but Biden & Sunak MMT deny it. Trump & Putin to blame