Peter Schiff reported that public pensions in the UK leveraged up with borrowed money. Rising interest rates could put the pensions at risk. The Band of England stepped in with QE.
Kick the can one more time. Policy makers try to avoid the inevitable, pick your poison,
10% inflation robbing the pension fund of half its value in 7 years, or face the music and default on billion dollar loans. One way or another, the outcome is bad, but predictable.
Peter Schiff reported that public pensions in the UK leveraged up with borrowed money. Rising interest rates could put the pensions at risk. The Band of England stepped in with QE.
Kick the can one more time. Policy makers try to avoid the inevitable, pick your poison,
10% inflation robbing the pension fund of half its value in 7 years, or face the music and default on billion dollar loans. One way or another, the outcome is bad, but predictable.
One possible modification to the 60:40 portfolio is to replace some portion of bond by precious metals and other commodities.
Thanks Michael. Elections have consequences and unfortunately we are living with them for past many years in Canada.