QE is Bad For Your Pensions
I don’t mean dear old Liz, as I think the longer she lives, the better it will be for the economy and my pension. But the link is the opposite with Quantitative Easing, which according to several commenators will mean that long-term annuity rates will fall. This article is from CityWire. Here’s an extract.
On the one hand there has been uproar from some experts about the impact on people’s pensions. This is because QE is used to buy back government bonds, or gilts, which reduces their yields and in turn lowers annuity rates, which are linked to gilts and which determine the amount of pension many people receive.
However, others argue that annuity rates were already dropping before QE begun; that while we are hostage to the broader economic backdrop which includes QE, the eurozone crisis is what really matters. ‘It’s the broader backdrop that is most relevant,’ said Tom McPhail of Hargreaves Lansdown.
It doesn’t look good does it. I suppose I could put in a stove that burned paper and just put my pension in it, a bit at a time. I would at least be warm.
On the other way, I’ve sort of created my own annuity using Zopa, where I put the money I got from selling C’s Boxster.
Everything Comes To Him Who Waits
In all this fuss about the new England manager, nothing has been heard from Stuart Pearce. Although, Harry Redknapp has almost ruled himself out. As have a few other candidates like Alan Pardew.
So does this leave the field clear for Stuart Pearce to be caretaker manager for the match against the Netherlands. We might find out in a few minutes. I suspect we will hear he’s got the job, as who else knows their way around the FA offices, boardroom and politics? If they pick somone for one match, even if he was of the status of say Arsene Wenger, he would be unable to do anything in a couple of weeks.
So could the reason, Pearce has been quiet, is that he knows more than anybody else and doesn’t want to overturn the pile of unstable bricks? Remember as assistant coach to the England team, he will have detailed dossiers on all the England players and because of his job as Under-21 coach, he’ll know the players coming through.
The pundits all say we won’t win Euro-2012 or the football at the Olympics, so if he performs well in the Netherlands game, his coaching team could be given the responsibility for Euro-2012 in addition to the Olympics. In fact, as the Olympics tournament is not many games, handling two teams might not be much more difficult, especially as he’ll probably have Beckham in the Olympic team, to help and act as a conduit for the media.
The permutations are endless.
They have just announced Stuart Pearce will be manager for the match against the Netherlands.
Do I think they’ll take it away from him for Euro-2012? No! Unless we get beaten seriously by The Netherlands. After all he’d be some elephant to have in the room next door.
The Wisdom of Stuart Pearce
Ask a tabloid journalist and they’ll tell you that Stuart Pearce’s philosophy is summed up by his nickname; Psycho.
But look him up on Brainy Quote and you get a totally different view.
Here’s a couple of examples of quotes from Stuart Pearce.
But to me the bottom line is the more education you can give yourself, and the more preparation you can do, the less chance of failing.
I am one of those people who quite enjoys responsibility.
If my results are not good I will lose my job.
There are no quotes of any sort for Harry Redknapp.
Psycho or Harry?
At present they are the only two candidates for the job of England coach, if you assume that the coach must be English; Stuart Pearce and Harry Redknapp.
For Euro-2012, both would have other duties, with Harry at Tottenham and Pearce involved with Team GB at the Olympics.
So if one of them get the England job part-time, it wouldn’t be good for England in Euro-2012.
In my view, Pearce is better qualified, as the England team for the next few years, will be players he’s brought through the Under-21s. He also knows the various factions in the FA and how they operate. He would have handled the Terry situation very differently to Capello.
Also read, Pearce’s biography in Wikipedia. He’s made the odd mistake, but he’s never been involved in any scandal. And he learns from his mistakes. Does Harry?
But don’t forget that Pearce was playing on the day of the Hillsborough tragedy and I suspect, that deep down he wants to avenge it. He will some way some time, even if he doesn’t get the England job.
Also what happens, if he’s caretaker manager for the Holland match, sends out his team, and wins handsomely. Could he be overlooked for England manager? If he doesn’t win, looking as his record, he would probably put up a good showing at the Olympics.
The Anonymous Widower 