Monday, December 3, 2007

Credit crunch solves pension crisis

Pension deficits shrink by more than 90 per cent in a year

Absolutely fascinating. The credit boom did not only create an unsustainable housing boom but was a major cause of the country's pension crisis by making corporate bond yields unattractive. Apparently people are now investing in lower yield/less risky corporate bonds and pension fund deficits are as low as 1%. Wow.

Posted by planning4acrash @ 06:06 AM (457 views)
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