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The world is experiencing a plunge in share values which easily outstrips that of October 17, 1987, and could potentially match the Great Crash of 1929. No longer can anyone dismiss what is happening as being of importance only to those who work in the rarefied world of Wall Street, the City of London and other financial centres. The seizure in the credit markets has cut off the flow of finance to every business and every household across the globe. 'The drop in the stock markets is having equally disastrous consequences for us all... making us all poorer' Our savings held in insurance policies, share ISAs and pension funds have suddenly dropped in value, making us all poorer. Even more seriously, it will leave some private-sector pension funds struggling to meet their promises to those who have retired and those still in the... [read full story]
