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Well, yes, works for me

The messages that comes back to me, very loud and clearly from this and from the new Act requiring that 18 year olds contribute to pensions that will inevitably be saved in predominantly share based funds, are threefold.

First the stock market is terrified that the Ponzi scheme that supports share valuations might fail. Those valuations have depended fur decades on more, and regular, funding coming in than there are sales taking place. Hunt is helping extend the false impression that this market has anything like the value given to it.

Because that’s how the old sell their assets – their savings – to the young so that they can eat the capital in their pensions. That’s how pensions work, d’ye see?

5 thoughts on “Well, yes, works for me”

  1. Ultimately, the price of shares depends on the yield on government paper. So if he doesn’t like share markets he shouldn’t be in favour of government debt.

  2. Face it, people like Spud are just the front runners for what you should all know is coming – the State is going to expropriate your pension funds and ‘invest’ them like it does all the rest of its spending. There’s a big pot of money out there that people aren’t quite as attached to as their day to day income so the State is eyeing it up eagerly. Income is taxed about as much as it can be now without reducing revenues, so that well is tapped out. Pension funds represent a completely new source of revenue. They’ll offer some promises written on tomorrow and just take it.

  3. BiND: That is…. STAGGERING. And in that time we’ve had an outright Communist standing on an outright Communist manifesto *fail* to get an elected majority. And professed a Conservative government implementing most of it.

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