Unlike most years, where the Santa rally is a thing, there’s not so much cheer on the stock market at the moment.
In other words, there’s a sale on. The Ermine has an additional problem, in that my money is held in increasingly worthless Lesser British Pounds, which are going lower relative to foreign assets day by day. That’s largely due to the pickle we have got ourselves into. Having narrowly voted to leave the EU for a land of unicorns and unlimited supplies of cake, hard reality seems to have met the dream. Usually when that happens the dream loses the fight.
The narrow majority for Brexit covered up an inconvenient problem in that there are two pro-Brexit constituencies, and their interests don’t really overlap.
These are roughly the groups as I see it – one lot want their unskilled jobs back, or at least not to see them going to young folk from the EU who can live more cheaply than their constituents can for a while1. There’s another lot who are the Tory headbangers of the ERG group, who are sore about the loss of sovereignty. There’s an argument that the sovereignty fight should have been had at the time of Maastricht and they should have signed up with James Goldsmith’s Referendum Party. These guys are usually rich enough to weather any storm of a no-deal, or old enough that they don’t have to find work in the resulting maelstrom, and some of them have fond memories of an imperial past when Britain ruled the waves. Whenever I hear Jacob Rees-Mogg speak, I do feel that the 1950s called, and I wasn’t even born in the 1950s, although I am about ten years older than him!
The top left side want much less immigration, they don’t really care about trade deals with non-EU countries, the top right don’t care about immigration but get off on the idea of trade deals free of the yoke of the EU that limits their coruscating ambition. There’s a small dark side of xenophobia, which isn’t necessarily just people who favour Brexit though it does tend to go along with the Brexit patch
At best only one of these groups with non-overlapping interests can be satisfied. Rationally, the largest group that can be satisfied would be the Remainers, because their desire is simple and achievable, what we had before that Cameron chap cocked it all up trying to hold his party together.
If one of the Brexit group gets what it wants, the other group largely doesn’t. The Remainers at least know they lost the fight. The Brexit contingent that doesn’t get what they want will be doubly pissed off because they thought they won. There is no win on offer here that gets anywhere near 50% of people happy. And yet Brexiters are busy screaming the house down about “The Will of the People Must Be Respected”. Well, yeah, as long as it’s not the will of the remainers and as long as it’s not the will of the other half of the Brexit voters, because for them that other lot’s Brexit is not my Brexit.
I’m all for respecting the will of the people, as long as they tell us which will of the people they think that should be. Will the real Brexit stand up and make itself known to the hapless captain of the good ship Britannia? Even when May brings them something that looks like a Brexit, as in ‘submit Article 50 to leave the EU’ people still yell out like two year-olds that’s not what we wanted, Waaah. So they defenestrate May and it’s Groundhog day again.
There should be an honorary eagle pecking out the liver for David Cameron for putting the question is such a stupid, damn-fool and undeliverable manner. It is like having a referendum on “Do You want Real Live Unicorns on the High Street Every Sunday”. The answer may well be yes, but it’s a tough one to deliver. Because: Unobtanium. In the form of cakeism in the first case and unicorns on the other
It’ll soon be the season of goodwill, which also seems to bring about exceptional financial muppetry for some reason. A few years ago it was Shona Sibary and her excessive brood that was financial folly du jour, along with TV producer Charlotte and a few also-rans. Along with running articles on how you can get to retire early, we’ve had a few on people who don’t seem to be planning on retiring ever.
I was tickled by this young 30-year old singleton living with her parents. Now I have some sympathy for her original plight of living in London on 40k a year. If you don’t want to share your living costs with other people, be they a partner or some sort of shared housing/flatshare arrangement, I can believe 40k isn’t enough to live in London. What’s a girl to do in such a quandary? Clearing off back home to live with Mum and Dad seems like an eminently sensible thing to do. Hats off to her for effective action in the face of adversity.
I also have to admire that she doesn’t have a credit card because she’s too worried about ending up in debt. Wise move, that. But where I am totally nonplussed is that of her £2200 pcm take home,
By the time I’ve paid rent, done some food shopping (I want to pay my way as much as I can), settled my phone bill and insured, taxed and put petrol in my car, there’s not a great deal left.
I mean FFS? Let’s leave aside the breathless insouciance of not getting that: hitting Bank of M&D for a few hundred sods a month for foreseeable expenses like eating and car maintenance is not paying your own way by any of the usual definitions of the term.
An ermine spent some £400 on road tax and insurance and £1k on servicing and fuel last year. My phone bill is some £50 a month, so that’s about £2k p.a. Let’s say that’s £200 a month. Leaves our heroine with £2k a month. Say she spends £1000 a month on drinking with her workmates and clothes, and surely the reduced rent to Mum and Dad plus food can’t eat up the remaining £1k. I’d say our young lady has a serious drugs habit she’s not letting on about if it’s really true that none of the £2200 a month actually sticks to the sides. There’s precious little detail about what she actually does spend it on, this is Grazia, after all, which seems to have little detail about anything. It did, however, introduce me to the latest wheeze to part the financially naive from their hard-earned:
Klarna – a buy-now pay later app
As I was considering a corduroy pink boiler suit in the Topshop Black Friday pre-sales, under the Add to Basket button, a rectangular box winked at me: “Pretend it’s pay day! Pay ⅓ now and the rest later”. That’s Klarna.
I confess I’ve read the entire article, and looked at the Klarna website, and it looks like a credit account that’s restricted in stores you can use it to pay. It absolutely beats the hell out of me why on earth you would want to do that, but if a subset of Millennials really are so gormless that they find ease of use of payment so important to them that they will take these restrictions lying down, then they deserved everything that’s coming to them, quite frankly. A jolly good shafting, by the looks of it.
Financial Friction is your Friend
There’s a strong hint that Klarna’s bad for your wealth right in the rubric here
Klarna is the millennial store card, designed for a generation who want things as easily as possible, or in Klarna’s words “a frictionless buying experience”
You want friction in the buying experience. It throws sand in the wheels of your advertising-addled monkey-brain. One of the wins I had in racking back my spending was the simple addition of controlled friction. If it cost more that £100, I wrote it down on a piece of paper with a date. Allow a week to pass. If it still looks like a good idea a week later, go get it. It’s really quite amazing how many things don’t look like such a good idea a week later. Hours of your life died to earn that money. Honour the sacrifice by taking the time out to think. Obviously if it’s a piece of safety equipment or it’s going to save life right now then go right ahead, but most purchases really aren’t that urgent. A little bit of sand in the wheels of the Iwantitnow reflex doesn’t hurt. Nowadays I can get away with 24 hours, but the week cooling-off period is a good one to break the I-want-it-now habit at the start.
Klarna is good for them. It’s not good for you. Much of Grazie’s article is spent talking about how great it is to be able to ‘buy’ a gazillion sizes, try out the ones that fit and return the others, without having to front the money. In the old days you could do that in the store, it was called a changing room. But fair enough, I geddit, things change, Millennials live busy lives and don’t do face to face, life is lived best through the screen of a smartphone. What I can’t get is what does Klarna do here that my trusty credit card can’t.
If I buy five pairs of high heels just after I pay the card off, I get well over a month before I even need to think about paying back my flexible friend. That’s probably long enough to find out which four pairs will give me bunions and return the buggers for a refund 1
a hard credit search each time you want to slice it
But the worst thing about Klarna is that say I am Grazie’s Sian, and while Klarna lets me return 9 out of my 10 items without raising the capital up front, I still decide that I need to slice it because my 40k salary is insufficient to buy myself all the things and experiences I wish to have in my young life. Each and every time Sian hits the old ‘slice it’ button, that’s a new hard credit search. Since she’s in the habit of spending more than she earns, that’s a new hard credit search every month, if not every purchase.
In comparison, if a grizzled Ermine decides to slice it, that’s called ‘not paying off the credit card in full every month’. No new credit search, just business as usual. It’s a stupid way of living for all the usual reasons, but were I saving for my house deposit then when I get to ask for a mortgage the bank isn’t going to go ‘Holy cow, 12 hard credit searches in the last year, no way am I lending this punter a single lousy penny, never mind a couple hundred grand’.
Nobody will lend me any money, because I have virtually zero income. The last time a hard credit search for ‘would you lend this mustelid any money’ was run on me was when I took out my credit cards, which was when I was still employed – it’s getting on for over ten years now. I took a look for credit searches on me. They are all for insurance and ID qualification, plus one for Starling bank. Who then go on to lie about my balance, saying it’s £0. It’s £2500 FFS, because they pay me a gnat’s cock of interest on the current account as well as being the solution to not getting receipts for contactless payments. They also don’t charge me stupid amount for using the card abroad 2.
Over There and Overindebted
Everything’s bigger in the States – houses, hot dogs, cars, and debt. And Financial Folly in the pseudonymous Kate and Tom. The problem is simple. Too many snowflake kids, too many airs about the kids, too much house.
Our first house was perfectly fine, but I was pregnant with our third child, and we had three bedrooms in that house and wanted a fourth.
They could probably afford the kids – just save the $15k pa each that goes on private schooling and give it to them as a bounty on reaching 21. See Rule 5 later on
But we have a good deal — we’ll pay $15,000 for the three of them. But, of course, it’s all going back on credit. There’s a company that offers educational loans for private school.
I love the way he claims to be good for $90k a year, and get works as a bartender at night. I mean, how does that bartending job even get to shift the needle on the dial? Then there’s this sort of addled thinking:
Tom: To be fair, we do try to save money where we can. We had a lease on a minivan that was costing us $405 a month that we just downsized to a $208 car. Kate: We always lease cars. Honestly, we can’t afford repairs. If our car broke down, we wouldn’t have the $3,000 to fix it. We need to have that high car payment because, frankly, we are not good enough with money to have savings.
Dudes, it’s simple. If you need to lease a car, you can’t afford to drive one. End of. Sure, if you could afford to buy one, but choose to lease, well, perhaps you get the new car smell more often. I pay too much for some things, because I can’t be arsed to squeeze the lemon on everything. I can afford to do that because I don’t borrow money for these things.
These guys aren’t stupid and they’re earning a decent screw. They’re playing a strong hand incredibly badly.
More and more I start to wonder if the road to financial success is far less about what you do do. It’s a tough one – in nearly all other endeavours you progress by getting better at what you do do. With money, an individual surrounded by clever people manipulating the atavistic monkey-brain with advertising, social media FOMO and people who want your money finds themselves in an unfair fight. It’s what you don’t do that matters:
Escapism seems to be the norm, people have got back from their hols and the rude awakening of life back at the office makes for good newspaper copy. It seems the Torygraph is working on this sort of thing, and let’s hear it from the Grauniad –
…the secret to never having to work again – but does it work for everyone?
Ah bless ’em. There are people who get to live in London and retire early. They aren’t the Guardian media types, though, who asked themselves this question and failed to detect yes in the echo from the walls of the city skyscraper canyons.
The ermine already established part of the dirty little secret to retiring early. You need to earn more than average for a decent amount of time, or massively more than average for a shorter time. The Times qualifies that as having £600k in the bank and a fully owned house, H/T Monevator for breaking down the paywall.They also say that Barney from Surrey managed this as a modestly paid accountant after 20 years. WTAF, guys, compound interest is irrelevant over a period of 20 years so there’s an implication this modestly paid accountant was on a screw of ~£800k * 2 / 20, assuming he had a savings rate averaging 50% and his Surrey place cost him about £200k1. That’s about £80k net pa, which is way over the average UK income. Now it’s possible he got lucky on the stock market, let’s face it the stock market probably worked the equivalent of three years of an ermine at the office, but there’s another little dark truth here. We are several years in to a bull run that is long in the tooth by historical standards.
Oh yes, and half our blessed fellow countrymen decided to devalue the pound in a rush of blood to the head a couple of years ago, which made the numbers bigger by roughly the same as the loss in currency value. It ain’t real guys, the tide’s gonna run out at some time, and much shorter than the 40+ years a fellow retiring in his forties and drawing down needs it to last… Let’s hope Barney has some other plans, eh?
I only earned a bit more than the British average wage compared to many others in the PF scene, but I did it for thirty years. Let’s get that into perspective, however, I earned getting on for twice the average national income for more than half my working life. Many PF writers earn a lot more than I did, but they are in industries where burnout is rife. So it’s pretty darned obvious that it’s not going to work for everyone, d’oh. And we really shouldn’t be bullshitting people, if you are earning the average wage, and get up to the average level of spendyness and the average number of kids, there’s not a snowball’s chance in hell you are going to retire early. End of. Sorry about that. You might get it so you don’t have to wait to 67, but 40? Fuhgeddaboudit.
Let’s look at a poster child – MMM. That was deconstructed by Flannel Guy a while back. It’s still an impressive achievement – most people who have a household income of $100,000 for ten years don’t end up retiring early, they rack their lifestyle up to spend that and then gaze longingly at the people earning $500,000 and wishing they were them. Yacht envy is a thing2, y’know.
So you gotta earn more, but that’s not enough. Not only do you have to do an MMM and know when to stop, you need to have a stroke of luck, or at least avoid some types of bad luck. The prime example is for God’s sake don’t have kids and get divorced before they all come of age. So the answer to the rhetorical question
but does it work for everyone?
Is even more a great big fat no. Not a prayer, Guardianistas. If you want to live an average life, do the things everyone else does, well, you ain’t gonna retire early, because that’s not an average thing to do.
There probably aren’t that many people who live in London and get to retire early in London. For two reasons. Just about everything about London, with the exception of transport and art galleries/museums, is dearer than pretty much everywhere else. So you need more to retire there, unless you bought your house 40 years ago on a teacher’s salary. Plus you’ll have more going out the kitty day-to-day, though perhaps that is compensated by the fact you can earn more in London. The operative word there is earn, which implies w-o-r-k.
The other reason is that of sample bias – if you are the sort that flourishes in London and earns shitloads of money you are probably driven, and would find doing without the finer things in life a massive privation and you’d feel out of kilter with your peer group. You’re more Wolf of Wall Street than the Good Life. Jeroboams of champers and fine dining don’t grow on trees. If you want to stop working and enjoy that, then you either need to have earned stratospheric amounts of money, in which case hitting the off switch early may be tough though necessary, or you need inherited money. Take Petra Ecclestone, for instance. A great way to retire early is to get Daddykins to earn the money 😉
Wikipedia says about her “Petra Ecclestone (born 19 December 1988) is a British-born heiress, model, fashion designer and socialite.” I’m guessing here, but probably the modelling and fashion designer income wasn’t quite enough for a 29-year old to buy the $90M Chelsea place and the 57,000 sq ft LA place. Thanks, Dad, is probably the order of the day, here…
The Times did a feature on FIRE where apparently 900 good people from London piled into a pub to hear about how they could retire early. Several things vaguely disturb me about this –
In a pub – you’ll find it easier to be an introvert if you want to retire early, because to be different you have to do different 😉
but the #1 thing that worried me was if they were paying to hear how to retire early, because they’ve started off on the wrong track. Retiring early is usually about spending less, and spending to find out how to spend less has a delicious irony of its own. If it was a general shindig to chinwag and you got to cover room hire, fair enough, but if it’s like one of those make-money-fast trading seminars then it’s wrong foot forward, people.
Update 30/9/2018 – it was a Facebook meetup and the only cost was the price of your beer, see Luke’s comment below. I am getting too much of a cynical S.O.B. I’ve been punted too many payable London events but I should roll back my guns in this case. There’s everything good about the extrovert wing of the FIRE clan getting together and drinking beer. I’m all for it. Mea culpa
The Times headline is modest earners find formula to retire in their 40s, which should be banned under advertising standards regulations. If these are modest earners in London they are stuffed. Has anybody told these poor saps that we are ten years into a massive bull run fluffed up by funny money? You don’t have to be clever to have made money on the stock market in the last 10 years. Weegee’s quip on how to get a great picture applies – f/8 and be there. The f/8’s irrelevant, it’s the be there. Where you gotta be clever is holding on to that wedge over the next 10 years – and if you’re retiring at 40 then you need to accumulate and hold on to that for the next 40 years.
How do you make a small fortune on the stock market? Start with a big one, or start when it looks like it’s going to hell in a handcart. That time is not now, dear modest earning office workers, so if you want to start your FIRE journey on your modest earnings, then don’t start with the stock market, start with racking back your spendy ways. Some of your spendy life choices have probably already been made, but don’t add to ’em.
So no, the ermine is not going to add to this pipe-dream. If you’re on a modest income in London looking at a bull run that’s one of the longest in recorded history and you are looking back at what would have happened if you had invested along with Monevator in March 2009 then stop right there, breathe in deeply and remind yourself that it was all a dream.
I’m not saying you can’t retire a little bit earlier than normal, if you invest sensibly and consistently, and control your spending, and you have reasonable luck. But look at the sort of privations RIT had to put up with to retire in his 40s – and he was an above average earner, again. But if you are looking at the stock market to do the heavy lifting, then forget it. If you are beginning to aim at retire in your forties, assuming you have started work, you are between 20 and 30. You can’t retire on a modest salary from a standing start in 10 years without having given it any thought beforehand. Really you can’t.
Take it from me – at 49 I wanted to retire early, from a standing start. By then I owned my own house almost (bar £1000) mortgage free, had a decent built up pension and I was earning a decent salary. Plus I was starting in a stock market swoon otherwise known as the global financial crash. Try as I might to munge the figures to give me a shorter timescale, I had to work another three years saving as much as I possibly could, living on less than the national minimum wage after all the saving. That really wasn’t any fun at all. 3
30 year-olds on a modest salary in London probably haven’t paid off their mortgages and you’ll have 20 years less pension savings than I had. You’re unlikely to cross the finish line in 10 years, and you have to stretch it for 15 years longer. And whatever you read about the magic of compound interest, forget it. Over a 30 or 40 year working life, compound interest sort of doubles the real value of your pension savings, as long as you leave them alone to grow. Over 10 years, not so much. If you don’t believe me, listen to RIT. There is no snowball in FIRE.
There’s a general rule about investment. By the time you read it in the papers, it’s too late. Beware Greeks bearing gifts. It’s going to be a tough ask for somebody starting now to replicate RIT’s work of retiring by 40. Oddly enough your greatest hope of doing that is for the greatest humdinger of a stock market crash to occur ASAP, provided you get to hold your job. But remember Weegee. You gotta get in there and stay there, and stay the course.
Passive investing aficionados will no doubt tell me that’s market timing, to which I would say yep. You want to retire in only 10 years, you need a bit of market timing on your side to get yourself a place most have to work for more than 30 years to get to. RIT reached the finish line using passive investing. But he sure started at a reasonably good time, too, like me. Methinks he earned more than that average British wage for much of that time, too. RIT also highlights some very serious social costs that will be more of a load on younger people – to wit:
The vast majority of my friends and certainly my indirect family are still from my pre-2007 days. This means that over time a big shift between our once reasonably common values and beliefs has occurred. […]
At the same time I have found it very difficult to find “new” friends with common interests to my new self (it really is amazing once you have shunned consumerism to see how much it dominates people’s lives). They really do seem to be few and far between.[…]
my day to day contacts and colleagues have changed and because their standard of living matches the salary they receive today I am now starting (if I’m not there already) to be seen as very obviously different.
The social contact is more important when you are younger. I didn’t experience these issues because I didn’t really rise through the ranks as I was saving to escape, I did that from the high-water-mark of my career. So while I experienced a much more dramatic adverse change to my lifestyle than RIT, I didn’t have so much of a drift away of common interests.
Beware newspapers bringing you promises of freedom from The Man through the stock market. It’s doable, but as a marathon if you start now. The starting pistol for the sprint probably fired over five years ago.
The stock market gets all the attention because of the promise of free money if it goes right. The other things – getting out of debt and reducing your spendyness are the Mr Boring of the FIRE world but they are reliable. They will deliver dividends just as they always did. FIRE wannabees should start with those first – get out of debt and spend less.
Don’t believe all you read in the papers…
I know, you don’t get to buy a garage in Surrey for £200k. Let’s assume Barney got lucky at some stage in the housing market. It’s what the asset cost Barney when he bought it that matters, not what it is worth now. ↩
I wrote that before googling the supporting reference because a lifetime of studying the human condition taught me yacht envy would be a thing ;) ↩
The fellow who introduced me to using pension contributions to save the loading of 40% tax, who opined that you have to be mad to be working here after 50? He’s still working there as far as I know. Absolutely nothing wrong with his theory. It was selling the lifestyle to his wife and kids that was too hard. Let’s face it, there’s nothing in it for his kids but privation, they don’t have to earn the money for their nice middle class lifestyle. I can see their point ;) ↩
A few years ago1, a young-adult daughter of some friends posted on Facebook about one of the delights of her office routine that made the experience of work bearable – “Look at all these yummy treats in my Grazebox, oh my,” with obligatory pic of the contents. I remember thinking at the time that this was wrong on so many levels, starting with the fact that sedentary office workers don’t really need to ‘reimagine snacking’.
You sign up with Graze, they mail you snack-sized boxes weekly at £4 a box, so you are paying £20 a week for your packs of mixed nuts. Tesco will sell you a 250g bag of mixed nuts for £1.50. Estimating your graze box is about 100g, you’re paying £17 a week for the privilege of not having to think about the office snacks aspects of your shopping 😉 That’s about £900 a year, a sizable chunk of a typical starter wage.
The Grauniad tells me that this is a special case of subscription shopping – a new up-and-coming trend
Welcome to the shopless shop, where customers pay for decisions to be taken out of their hands. Since 2014 the number of visitors to subscription shopping websites has grown by 800%. Customers receive a “curated box” of items of beauty products, clothes for work, even toys for their pets.
This sort of thing should really come with a whacking great link to MSE’s Demotivator tool, to help you compute just how many extra hours you are working to save yourself the effort of thinking about what you’re about to shovel into your piehole on a workday. It’s getting on for 4% of your take-home pay if you are on the average UK full-time wage of ~£27k. Let’s hear it from the Demotivator2
The peacock has his tail, and it seems humans have jewellery. In general the march of technology has made many things cheaper and sometimes better, though often not more durable. However, it seems the humble wristwatch is not one of these things, here we have a dude inquiring about finding good value in a watch for £8000. Don’t get me wrong – there are some sorts for whom maybe £8000 is about value. Say you are the crew of Apollo 13, you are SOL when the tank explodes in space, you are on 20% of electrical power, and you need a 5 minute burn to speed you on your way round the moon before your ticket to ride expires with the air. You have two chances to get this right. And the knob of the Command Module Interval Timer comes off in your hand. Then you might be grateful that someone spent a shitload of money on a watch that could survive takeoff. £8000 well spent, you get to see you wife and kids again. Early twenties, working for a REIT, looking to be individual in the stuff that you buy rather than the person you are, well, not so much.
I was recently on a retreat where they aren’t keen on mobile phones. I’m with them there, I don’t tote a mobile most of the time, although often I have one with me when I am out, even if it is mainly switched off. I discovered it’s far too easy to switch it on in a pocket just by bending down, pressing the button on the side that starts it all up. I get to be that tosser with the mobile, and I don’t like it, even if it is just the Galaxy startup sound on low.
A mobile is an okay way of telling the time, though I am still shocked that mobiles don’t update the clock from the mobile network, or failing that use NTP. But I have discovered that I want to go back to an old way of knowing the time, which used to be known as a watch. I have two, both from 30 years ago. One was my own, an automatic mechanical watch, because 1986 was still just in the time when it was cheaper to buy an analogue watch[ref]digital display watches were cheaper[/ref] as a mechanical one than a quartz watch and just about the time when mechanical cheap watches became serviceably accurate – the ones of my schooldays would gain or lose five minutes a day. The Seiko was good enough for that much a week ISTR.
I would use the Seiko but I don’t want to wear a watch all the time. So it would run down and stop, and generally be a pain, because for some reason I can’t wind it manually, so I’d have to shake it about and hope the mainspring has enough energy to run, that’s too much trouble for occasional use. Plus it’s the 21st century, FFS. William Gibson was right. There is no point to a mechanical watch, which is exactly why they sell for shitloads of money. Because humans are funny like that. The other one has some sentimental value because it was given to my Dad on his retirement.
This works – but the trouble is it eats batteries, they last less than a year. I took it to be changed a couple of times but after that I’ve had enough.
What I basically want of a watch is battery powered – I can’t be fussed with winding them, and the mighty quartz crystal pretty much solved the drifting out problem, you can check a quartz watch monthly and never be more than a couple of minutes off. Analogue, because I can easily compute 20 minutes from now in a third of the sweep. I confess as a retiree it is sometimes nice to know what day it is as well as the date. I had a browse of Amazon, and after a couple of minutes I lost the desire to look any more, because the paradox of choice was doing my head in. I did since discover one should change watch batteries yearly or maybe every other year. This is to forestall the blighters spewing out sludge, the idea seems to be change the batteries before they run flat. I didn’t know that, though it applies to other sorts of batteries I guess.
There are two other techniques, that replace the battery with a supercap. Either charged by movement energy like the automatic mechanical watches of old or by solar. The latter sounds like it could eliminate the not wearing it all the time and the battery leakage problem. So if my investment in a little bit of IPA and a new battery fails, that seems to be the way to go. Shame that people still putz about with a mechanical ring for the date, which is fundamentally a digital display. It wouldn’t be too hard to use a LCD display for the day and date, which would save mucking around with the date on months shorter than 31.
Casio do these, but I can’t really cope with the idea of a plastic resin case. I don’t really care how ugly a mobile phone is, but a resin watch will offend me regularly with its gauche machismo. I am too old to join the military. I appreciate this is a matter of taste, but it isn’t mine. And I really don’t want a watch that even thinks of making a noise. Five alarms is five too many. It seems nobody simply takes all the mechanical gubbins of showing the day and date and swaps it for a LCD of the same size. Perhaps they can’t make LCD displays small enough and sharp enough, though with watches there seems to be some kudos in doing bizarre things mechanically that really should either not be done at all, or done electronically.
The paradox of choice makes me think better
A retiree should be insanely curious about the world. One is simply to sharpen the saw, the other is because he has the luxury of time, to really get into something because it is there. One of the incidental values of being curious is that it leans against the learned helplessness of living in an unrepairable consumer world. And so I thought ‘Self, for thirty odd years an electronics engineer, what is the obvious most likely cause of a watch working, but running batteries down excessively? Well, it is what battery operated devices left in a drawer for years have always suffered from – a battery leaks and leaves gunk behind, which adds a slight load. You don’t notice that with a radio or a power drill, but a 373 battery is tiny, so the added load is much bigger in proportion to the capacity of a watch battery[ref]leakage is a much bigger issue than I’d expected. After I got the replacement and pressed it into place with my fingers, I noticed the bit on the invoice where it said “please refrain from pre-testing watch and coin cell batteries, and only use plastic tools (no fingers!) to insert battery wherever possible to avoid premature failure of battery cells” Oops. Oh well, I will know next time, eh ;)[/ref]. I confess I’d never really thought about a watch battery leaking, I have never seen a leaking button cell. I just didn’t think it happened.
So I popped the back off this and observed that there was indeed gunk from a previous battery. Not only that, but neither the place in LA who had swapped the first battery in 1993 nor the well-known high-street jeweller’s in Ipswich had seen fit to inform me of this (the battery I extracted was clean, so not at fault).
A tissue and some isopropyl alcohol were my friend, so writing this post saved me the price of a new watch, by galvanising me to get off my backside and remain challenged and keep learning. It isn’t that I am short of the money for a replacement watch, and indeed if I miss having the day display then I will buy one. But all H Samuel had to say is “we will change the battery for you for £5, but there is evidence of leakage and we recommend a clean of the compartment if you find battery life is reduced, that would be £25”. This took me less than five minutes [ref]this is apparently not the correct way to clean this off, but it will do for me[/ref] it would have been an easy £20 profit guys! Even if they didn’t want the profit warming me up to the issue wouldn’t have left me pissed off thinking they sold me an old battery when it expired in less than a year.
A visit to the bizarre form over function world of Consumerism with a capital C
When I was at school, the office used mechanical adding machines, because electronic calculators only started to appear in the mid 1970s. When the hell was the last time you saw a mechanical adding machine or a slide rule in an office? There is absolutely no reason for the mechanical watch to exist, perhaps save in the West Virginia Radio Quiet Zone or the like. The sheer exuberant impracticality of the mechanical watch and bizarre fetishes like the tourbillon have become mobile jewellery in themselves – Blancpain tells us
The tourbillon compensates for running errors due to gravity by mounting the balance wheel in a rotating cage. Equipped with a tourbillon, your watch runs with greater accuracy.
Well, yeah, but not half as much as throwing the bugger out and swapping it for a quartz crystal would.
Okay, so you lose out on the pretty rotating device, but the accuracy wins out. I don’t know why they don’t get rid of the dial altogether then and have a living, breathing mass of rotating and shifting whatnots in a crystal round case. An orrery or an astrolabe, maybe an Antikythera mechanism would suit Sir to a T, and our young REIT worker could use his iPhone to tell the time while dazzling his boss and clients with his metropolitan sophistication and one-of-a-kind-ness
Meanwhile, the Chinese can send me a working analogue quartz watch from Shenzen for less than three quid, delivered. That’s only twice the price of my replacement battery, although the aesthetics suck slightly (but not as much as the Casio IMO). Ain’t consumer capitalism amazing…
Not only do you get to touch the hemline of Blake Lively thus acquiring a sprinkling of her faeriedust that will make you younger, more beautiful and generally transform your otherwise pedestrian life of quiet desperation into celebrity heaven, but you also get to read cock like this
The bones of old New York get a new lease on life in these Dutch-style bicycle crates. Built to last a lifetime from reclaimed local wood sealed with natural tung oil, each beautiful Brooklyn-made piece is imbued with its own unique character. Caboose it onto your bike to carry the day’s produce, impromptu flowers for your sweetheart, or whatever you need to transport in a stylish manner—emission-free!
Ninety-Five flippin’ dollars – that’s fifty-six of your Earth Pounds. For something with massive great slats that will spew your designer shit out all over the highway if you actually did stick it on a bike, which is why people in Amsterdam use bike baskets made of mesh so all their crap doesn’t fall out, particularly when they ride over the cobbles. Not only that but bitter experience has taught me that you stick your flippin’ uprights on the inside of the slats so you can get enough screw into the damn things else you’ll have a kit of parts again in no time at all. Years ago I made some VHS tape holders along these lines inspired by the ones in Sex Lies and Videotape where I forgot this, or else got to learn it for the first time 😉
It’s time to throw in the towel on the you can become free through not spending all your wages buying shit meme. The opposition forces are too strong when people bankroll this sort of cobblers. Decadence has set in too deeply. The economy is shattered, fewer and fewer people will earn enough to fulfil their modest aims in life, and yet the froth rises and spreads over the surface to cover the roiling darkness. The fight is futile, the bad guys won, the battle is lost. The centre cannot hold; the falcon can no longer hear the falconer. All hail to the God of Shopping, our new overlords.
Won’t someone send out the search party to find and scoop up all the brains that have fallen out all over New York City so at least they can be given a decent burial rather than feeding the dogs? And please, please, let Preserve go bust quickly to restore my erstwhile belief that I don’t share a planet with too many fools ready to be parted from their money…
Summertime in the city finds the good people at Monevator dwelling on thoughts of refreshment, but out here is the sticks while sipping my iced coffee I sensed a stirring in the Force and the distant laughter of the nascent Holly King, with thoughts of Winter. The old boy Thomas Tusser has something to say about summer idleness
Even though the Oak King holds sway, the Holly King‘s powers are now rising. Hard to believe on balmy lazy Summer days when school is out, but this too will pass, and the nights draw in.
Now, at the height of Summer, it is a good time to convert a pallet into the finest kindling known to Man – the wood is so dry the pieces are almost musical when they hit the ground, like the plates of a xylophone.
Sound of kindling pieces being moved – each almost has its own note, the tonality sounds different to me from ordinary bits of dry wood being moved.
Like so many things you can do yourself for modest cost, consumerism has a ready-made alternative – Wilkinson’s will sell you some in a plastic bag
but what’s the fun in that? The cynical part of me did wonder if the plastic bag might not have more calorific value than the product if you could use it without the noxious byproducts. I knew one fellow in an old house with an open fire and a massive inglenook who would toss an entire bag of coal on the fire, plastic bag and all. There was enough draught up the chimney that it didn’t stink the place out, but I still felt it a teeny bit on the coarse side of living.
Thomas Tusser would look askance at such effete consumerism, and I’m with him there. I now have a couple of great big garden bags full, probably about £200 worth of kindling at Wilko prices. And running it in July means it’s absolutely bone dry, I stow the bags in the garage so it stays that way. A fine alternative are pine cones which make good kindling, and they are to hand in the coming months.
It’s the open structure and large surface area that seems to be the win here, rather than any particularly resinous property like fatwood. I figured I’d see why my kindling is almost musical in its dryness with a fine Chinese gizmo
Now you can’t rely on a cheap piece of Chinese junk traceable back to national standards of a finger in the air via an indirect measure (bulk resistance?) but comparing the kindling with
the kindling does seem pretty good! The willow is deceptive – the end I stuck the meter in is good (you can burn anything with less than about 20% water content) but further in it is too high, over 30%. They do generally say you have to season willow for two years to get the best of it.
The universal handy rustic construction resource – the wooden pallet
Loads of these get thrown out, and indeed I’ve seen many people on building sites burning pallets in the open to get rid of them. In the US they seem to worry about termites and stuff so they chemically treat them. I’d probably draw the line at using them for construction inside the house[ref]not only do you not know where they’ve been, but all the pieces are of slightly varying thickness and width. I’m not a competent enough woodworker to do cabinet making with decent regular sized wood, never mind all sorts like that![/ref], but for a log store extension they were neat
Unlike in the States the majority of pallets round here are untreated so they will rot, or maybe that’s just the result of scroungeable pallets tending to be one-wayers[ref]According to this in Europe we do not permit chemical treatment of pallets, which is why your pallet compost bin rots so fast. That’s good if you want to burn them, though avoid engineered wood bits like the compressed blocks of the side riser because the glue gives of bad stuff if it burns.[/ref]. This was constructed so the pallet used for the base and the side can be dismantled and replaced if need be. You can’t have too much wood storage, though most of our core drying is on the farm on a bigger scale. The one thing I am hopeless at is stacking wood – Mrs Ermine converted my efforts into something a third the size
That’s enough headspace allocated to the Holly King for now, time to consider the virtues of Pimms in the late afternoon like those decadent city folk 😉