I think an 8% unemployment rate equates to about 1m being out of work. There will always be pain (by all) when unemployment hits that enormous level, but the domestic banks are well prepared.
In the long term - things will be fine and work out fine. The LICs are well diversified, so holding a *top* quality LIC will perform over time.
I think an 8% unemployment rate equates to about 1m being out of...
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