Somewhat surprised to read in the Daily Telegraph that Ashley Alexandra Dupré, the 22 year old aspiring singer who was Eliot Spitzer’s nemesis, charged £500 an hour. This is almost certainly less than the hourly rate charged by M’learned friends in killing (at least in most of the UK papers) the story that linked The Emperors Club VIP with one of our part time military peers. But probably more fun.
Category: Modern Life
A modern man
Leaving aside whether or not A levels (or more correctly A2s) are getting easier, the youngest (a boy) is now only concerned that this summer he beats his four sisters. It is a percentage game. I have pointed out to him that even if he gets better grades, this will not make him the most intelligent of the five. His answer was that I lacked male solidarity!
Matching pension liabilities
It is a shame that a lot of the good sense about pension investments is hidden away. This morning there was an excellent article by Edward Chancellor in FTfm, Pensions still oblivious to bond wisdom.
The first rule of financial prudence is that assets and liabilities should be matched. Unfortunately, during good times this rule tends to be forgotten. There’s normally a profit to be made by borrowing in a low-yielding currency and lending in another at a higher rate; or by borrowing short and lending long. The mismatching of assets and liabilities lies at the heart of the current credit crisis. In recent months, many have discovered the perils involved in the pursuit of such easy gains. Only the pension world remains oblivious.
He may have the Pension Benefit Guarantee Corporation in his sights, but what is true that side of the Atlantic also holds good over here.
A civil society?
88% of us think that there is a social divide in the UK, only 5% think this gap will narrow in the next five years, and only 23% would be prepared to get involved to bridge the gap. [from a recent public poll by NCVO]
Who to believe?
If you believe the government, the chances of our children living as long as us is not certain. For example, according to the Department of Health,
Obesity is associated with many illnesses and is directly related to increased mortality and lower life expectancy. Tackling obesity is a government wide priority.
But how should we reconcile this with the information coming out of the Pensions industry. See two recent reports in the FT, Companies face up to the real cost of pensions and Proposals to add pressure on pension funding. The evidence is that we are all living longer, and will go on doing so (pace the Department of Health). What perhaps concerns the government is that illness will not kill us so quickly, so the cost to the next generation will be greater.
Enough said: George Wilkinson's blog 