Monday, October 10, 2011
Sunday, October 9, 2011
New World Order 'breaking down'
On the eve of the
10th anniversary of the US-led invasion of Afghanistan, thousands of
Afghans staged a rally in Kabul to protest the occupation of their
country.
Interview with Fredrick Toben, Australian author and political commentator.
Interview with Fredrick Toben, Australian author and political commentator.
Shuttle diplomacy to resolve debt crisis
Bad economic news
kept coming in Europe this week: Franco-Belgian bank Dexia could be
dissolved, credit ratings were lowered for Spain, Italy and more than 20
financial institutions and the European Commission gave member states
10 days to agree on a plan to recapitalize its banks.
Private pensions worth 30% less than three years ago
If only they had saved for their golden years in Gold instead of paper promises.......
From the UK Guardian:
Stock market turmoil and record low interest rates have left workers nearing retirement with private pensions worth substantially less than those who finished work three years ago, new figures show.
Overall pension incomes are now 30% lower than they were three years ago when the government began attempts to boost the economy through quantitative easing, according to accountants PricewaterhouseCoopers.
Peter McDonald, a partner in the pension practice at PwC, warned that those retiring this year would be left "between a rock and a hard place", forced to defer claiming a pension until the market picks up.
"Compared to only three years ago, a money purchase pension is now worth 30% less than it was," he told the Telegraph.
With stock market turmoil set to continue and this week's resumption of the Bank of England's quantitative easing programme, injecting another £75bn of new money into the economy, annuity payouts are set to shrink further.
The FTSE has fallen by about 15% since May, which has cut the value of many workers' private pensions schemes........read on
Stock market turmoil and record low interest rates have left workers nearing retirement with private pensions worth substantially less than those who finished work three years ago, new figures show.
Overall pension incomes are now 30% lower than they were three years ago when the government began attempts to boost the economy through quantitative easing, according to accountants PricewaterhouseCoopers.
Peter McDonald, a partner in the pension practice at PwC, warned that those retiring this year would be left "between a rock and a hard place", forced to defer claiming a pension until the market picks up.
"Compared to only three years ago, a money purchase pension is now worth 30% less than it was," he told the Telegraph.
With stock market turmoil set to continue and this week's resumption of the Bank of England's quantitative easing programme, injecting another £75bn of new money into the economy, annuity payouts are set to shrink further.
The FTSE has fallen by about 15% since May, which has cut the value of many workers' private pensions schemes........read on
Ben Davies on the Black Adder banking system
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