I believe that kbgs old boys had figured out a strategy for their latter years and retirement which would have coped with banking and financial markets and trends - as they were a few months/weeks (now days) ago.

It sickens me that the greedy bastards, who have been juggling with our money and dropping us in the s t, have got away scot free with huge bonuses and left their institutions in the cackey. This pattern - at the lowest levels - was evident to the simplest of commentators (you and me - especially me) that those who were trading on their debt (an over -valued mortgage) to fund a standard of living beyond their capability to sustain would bring themselves - and eventually all of us - into deep pooh. And they have done.
So where do we go now? The views of respected fellow kbgs sufferers are invited.

Years at KBGS e.g. 1958-1964 (optional) 52-60

Current location (optional) Lincoln

As you comment Terry,
The greedy bastards who indulged in the money market were awarded a good percentage of any profits they make.
The same leeches, if their juggling in the market results in a loss, walk away totally unaffected.

Heads I win, Tails you lose !!



A quote on the radio tonight of a dealer who paid his bank to transfer his working staff and himself to Barbados to carry on his MONEY TRANSACTING work.
The cost of transfer to Barbados was £100,000.
It was quoted that this was a mere pittance, considering the amount of tax he SAVED on his paid BONUS !!

QUEL DOMMAGE !!

Years at KBGS e.g. 1958-1964 (optional) 50 - 55

Current location (optional) Keighley

My old dad taught me one very valuable lesson, if you cannot afford something, then you don't need it. I've tried to live by this all of my life and apart from a mortgage, never incurred debt. The stock market has created huge levels of debt as people borrow money, including remortgaging houses, to purchase margins, now that the system has crashed, they are losing everything. Yet, the stock market does not produce anything.

Years at KBGS e.g. 1958-1964 (optional) 58-61

Current location (optional) Blue Mountains, Australia via Haworth

If human vices such as greed and envy are systematically cultivated the inevitable result is nothing less than a collapse of intelligence.

If western civilisation is in a state of permanent crisis, it is not far-fetched to suggest that there is something wrong with its education.
~ E F Schumacher.

Years at KBGS e.g. 1958-1964 (optional) 53-58

This from Radio 4 this morning...
Q: What's the capital of Iceland?
A: About £4.50

I've been telling my children ever since they were able to discuss such matters that the world economic system is chaotic (see chaos theory in mathematics) and that there would inevitably be a crash (tipping point) sooner or later. Recent events have prompted them to start taking me a little more seriously on occasions. I'm thankful that the crash came when I still have the wit (just) to enjoy being vindicated.

Years at KBGS e.g. 1958-1964 (optional) 58-65

Current location (optional) leeds

That's great Shaun, I just wish that with your wonderful foresight you could have told us that the downfall began last year -I'd have taken steps to avoid it.

Sorry Trevor. I had no idea when it would happen. That's the central characteristic of chaotic systems. Their mathematics is so complex that, though for much of the time it is possible to broadly predict what will happen next, on occasions these systems are prone to dramatic fluctuations. That's what has happened recently. I have no more foresight than anyone else, but knowing how chaotic systems work means that I don't blame the current dramatic events in the financial markets on "greedy bankers" or "incompetent government".
There is an excellent book on Chaos Theory to which I could refer you if you wish.

Years at KBGS e.g. 1958-1964 (optional) 58-65

Current location (optional) leeds

I had that book. All the pages fell out.

Thanks Shaun,
I did once try to understand chaos theory but it was too much for me.
We need somebody to blame, well I do anyway, and I blame the bankers!!

I don't know the chaos theory - but like Shaun, as I heard over several years the incredible rate at which private debt was growing, I predicted that the debtors would take us all down with them. The cry from politicians - both blue and red -as well as the institutions -has been in favour of self-regulation - at which I have always blown a raspberry. For many years now, I have been (in private sitting rooms) decrying the high level of UK private debt and ending with the caveat "They'll bring us all down". If only I'd been wrong - but I was "square" because I favoured the mores and standards of the salaried man in the pin-striped suit to the commission-led jerk under the gel.
The way I see it is (apart from an unwillingness of politicians to interfere) - the big bonus b*****ds always knew where it would lead us - they just didn't now how soon.
But - get this - banks are still (13.10.08) e-mailing me with all kinds of fancy offer stuff - to take more of my money - to boost their own bonus bonanzas.
I reply with the following.....
"I am not changing my banking practices until the banks change theirs - for the betterment of their customers...."
If everyone of us showed solidarity in the face of the banks' self-interested solidarity - they might realise that they need us as much as (or more than) we need them.
May I recommend that you extend this sentiment electronically to all in your address book with the suggestion that they do the same.

Years at KBGS e.g. 1958-1964 (optional) 52-60

Current location (optional) Lincoln

If only we could get bank customers to confront their banks witha copy of the following letter:

Dear Sir,
I am writing to thank you for bouncing the cheque with which I endeavoured to pay my plumber last month. By my calculations, some 3 nanoseconds must have elapsed between his presenting the cheque and the arrival in my account of the funds needed to honour it. I refer of course to the automatic monthly deposit of my entire salary, an arrangement which, I admit, has only been in place 7 or 8 years. You are to be commended for seizing that brief window of opportunity, and also for debiting my account with $50 by way of penalty for the inconvenience I caused to your bank.
My thankfulness springs from the manner in which this incident has caused me to re-think my errant financial ways. You have set me on the path to righteousness.
No more will our relationship be blighted by these unpleasant incidents, for I am restructuring my affairs in 2000, taking as my model the procedures, attitudes and conduct of your very bank. I can think of no greater compliment, and I know you will be excited and proud to hear it.
To this end, please be advised about the following changes
First, I have noticed that whereas I personally attend to your telephone calls and letters, when I try to contact you I am confronted by the impersonal, ever-changing, pre-recorded, faceless enity which your bank has become. From now on I, like you, choose only to deal with a flesh and blood person. My mortgage and loan repayments will, therefore and hereafter, no longer be automatic, but will arrive at your bank, by cheque, addressed personally and confidentially to an employee of your branch, whom you must nominate. You will be aware that it is an offence under the Postal Act for any other person to open such an envelope. Please find attached an Application Contact Status which I require your chosen employee to complete. I am sorry it runs to 8 pages, but in order that I know as much about him or her as your bank knows about me, there is no alternative. Please note that all copies of his or her medical history must be countersigned by a Justice of the Peace, and that the mandatory details of his/her financial situation (income, debts, assets and liabilities) must be accompanied by documented proof. In due course I will issue your employee with a PIN which he/she must quote in all dealings with me. I regeret that it cannot be shorter than 28 digits but, again, I have modelled it on the number of button presses required to accesss my account balance on your 'phone bank service. As they say, imitation is the sincerest form of flattery.
Let me level the playing field even further by introducing you to my new telephone system, which you will notice, is very much like yours. My Authorised Contact at your bank, the only person with whom I will have any dealings, may call me at any time and will be answered by an automated voice. By pressing buttons on the 'phone, he/she will be guided through an extensive set of menus.
1 to make an appointment to see me
2 to query a missing payment
3 to make a general complaint or enquiry
4 to transfer the call to my living room in case I am there; Extension of living room to be communicated at the time the call is received
5 to transfer the call to my bedroom in case I am sleeping; Extension of bedroom to be communicated at the time the call is received
6 to transfer the call to my toilet in case I am attending to nature; Extension of toilet to be communicated at the time the call is received
7 to transfer the call to my mobile in case I am not at home
8 to leave a message on my computer. To leave a message a password to access my computer is required. Password will be communicated at a later date to the contact
9 to return to the main menu andd listen carefully to options 1 through 9
10 the contact will then be put on hold, pending the attention of my automated answering service. While this may on occasion involve a lengthy wait, uplifting music will play for the duration. This month I've chosen a refrain from The Best of Woody Guthrie...

'Oh, the banks are made of marble
With a guard on every door
And the vaults ore full of silver
That the miners sweated for'

After 20 minutes of that, our mutual contact will probably know it off by heart.

On a serious note, we have come to the matter of cost. As your bank has often pointed out, the ongoing drive for greater efficiency comes at a cost - a cost which you have always been quick to pass on to me.
Let me repay your kindness by passing some costs back. First, there is the matter of advertising material you send me. This I will read for a fee of $20 per page. Inquiries from your nominated contact will be billed at $5 per minute of my time spent in response. Any debits to my account, as, for example, in the matter of the penalty for the dishonoured cheque, will be passed back to you. My new 'phone service runs at 7c cents per minute (even Woody Guthrie doesn't come free), so you would be well advised to keep your enquiries brief and to the point.
Regrettably, but again following your example, I must levy an establishment fee to cover the setting up of this new arrangement.

May I wish you a happy, if ever-so-slightly less prosperous, New Year.

Your humble client.

hallo Terry my message is not about the credit crunch but asking for advice about how to sign on to the K.B.G.S.website.When I press sign here nothing happens.Is the site faulty is it my computor or is it me-a complete computer dumbo.Advice would be appreciated

Years at KBGS e.g. 1958-1964 (optional) 1954-1961

Current location (optional) filey

Click on "view/sign". Click on "post". fill in the fields, etc.
If this doesn't work it's a software/hardware problem.

Years at KBGS e.g. 1958-1964 (optional) 58-65

Current location (optional) leeds

Thanks Shaun it worked

Years at KBGS e.g. 1958-1964 (optional) 1954-1961

Current location (optional) filey

I went into Sainsbury's supermarket late one evening and took two packs of steak mince which had been substantially reduced due to their impending sell by date ( it never bothers me actually).
What I didn't know was if you bought two packs there was another reduction. I think it was £3.50 each or 2 for £5.
When I tried to pay at the till the checkout assistant looked perplexed.
" I've never seen that before " she sighed.
" We owe you 21p "
Their magical computer had knocked off the multisave from the reduced price.
Now that is what I call beating the credit crunch.
I walked out of the store with their goods AND their money.
And that is true.

Years at KBGS e.g. 1958-1964 (optional) 58-63

Current location (optional) abergele

A story to dine out on.

Years at KBGS e.g. 1958-1964 (optional) 52-60

Current location (optional) Lincoln

MORE ECONOMIC GLOOM
The Credit Crunch continues to track down more enterprises.
It was announced today that the well-known Barking business - "K 9 Kennels" has ceased training.
After a hasty meet of the Committee", it was decided the Master of Hounds should call in the Retrievers.

Years at KBGS e.g. 1958-1964 (optional) 52-60

Current location (optional) Lincoln

Don't give up the day job, Terry !

Years at KBGS e.g. 1958-1964 (optional) 55-60

Current location (optional) Harrogate

I did a quick survey of my immediate family who were in employment. Everyone of them was in a 'service' industry ie medical care, child care, etc. I always understood that wealth was created by someone inputting labour into a material such that the value of that material increased. For example, a sheep is shorn and its wool passes through many processes of fulling, washing, combing, drawing, spinning, dying, weaving, cutting, sewing until it is now a coat for somone's back. Labour has increased the value of the sheep's wool. Where today is that wealth being created that sustains the rest of us the vast majority of which works in the 'service' industries?
Our economy is a bubble, a make believe, a mirage. The bubble has burst. Always would do. I am just sorry my kids are having to live with it. Arthur

From the recent figures that are a cause of the latest rejoicing of economists and commentators (of that ilk), it looks as if the lesson offered above by Arthur has not yet been appreciated, let alone acted upon.

The latest excuse for glad handing appears to be that we have growing confidence in buying things from each other that have been made by someone else – with a level of credit of horrendous proportions. I fear it’s all going to turn over again unless we get some balance in the team.

A brilliant set of backs are "U S" if we don't select the forwards that can produce the ball.

Years at KBGS e.g. 1958-1964 (optional) 1952-60

Current location (optional) Nirvana