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?