Life is short ...
18. May 2009:
Now, after issuing some very very important documents incorrectly, I called my personal support at the bank for a correction. They told me, that it was not their fault, because the information they received were wrong. FINE then. Nobody told me anyway that the documents will be issued without asking me to sign or to review the drafts. The accreditation fees have to be paid anyway. FINE ...
A few days later, I received the so-called corrected and accredited version of the documents. Looked into it. And now What?
They got it all wrong again. So this Monday, I had the pleasure to talk to my bank again. This time, they even admitted that it was their fault alright.
From now on, the bank lost my trust and believe in their competence.
Trust and Trustfulness towards banks
Since the breakdown of the US-American bank sector, the trust towards banks has been declining and dropping. My personal relations towards my Austrian banks have been stable until now.Now, after issuing some very very important documents incorrectly, I called my personal support at the bank for a correction. They told me, that it was not their fault, because the information they received were wrong. FINE then. Nobody told me anyway that the documents will be issued without asking me to sign or to review the drafts. The accreditation fees have to be paid anyway. FINE ...
A few days later, I received the so-called corrected and accredited version of the documents. Looked into it. And now What?
They got it all wrong again. So this Monday, I had the pleasure to talk to my bank again. This time, they even admitted that it was their fault alright.
From now on, the bank lost my trust and believe in their competence.
17. June 2008:
Social studies say: We are living in a social and economical system based on consumption.
More social studies reveal: More people get caught in consumption binges. Shopping binge rules our society.
But is this really always intended by the consumers? No, not always.
Consumer has an idea of how much a product is worth for their individual needs. So he/she will buy the product when his/her notion actually fits the quality and price or other assets the product is providing.
Now within all the technology innovations processes and after decades of economical revolutions, many people are actually urged and pushed into consumption. Not willing to consume, they have no choice.
Cost reduction leads partly to input cost reduction, partly to quality level reduction to raise the producer's benefit. Quality level reduction is actually carried out like this: product price stays the same - quality level sinks - guarantee terms are shortened and so on.
e.g. A color laser printer. Original price 599 euro. Guarantee duration 1 year (can be extend with payments). Has an average life time of 3 years. After 3 years, the printer is broken and need a repair for 430 euro. The actual printers price after 3 year is at 460 euro.
So the questions is now (abstracted) to CONSUME (repair) or to CONSUME (buy a new printer).
Cutting the quality is not a very good choice to go for producers. The outcome of this strategy are often rather negative than revenue rising. Since 1. the image of the brand is ruined and 2. consumers are rather told to buy a new printer with a different brand than to repair the broken product for the same price.
Always consumption binge ?
NO...Social studies say: We are living in a social and economical system based on consumption.
More social studies reveal: More people get caught in consumption binges. Shopping binge rules our society.
But is this really always intended by the consumers? No, not always.
Consumer has an idea of how much a product is worth for their individual needs. So he/she will buy the product when his/her notion actually fits the quality and price or other assets the product is providing.
Now within all the technology innovations processes and after decades of economical revolutions, many people are actually urged and pushed into consumption. Not willing to consume, they have no choice.
Cost reduction leads partly to input cost reduction, partly to quality level reduction to raise the producer's benefit. Quality level reduction is actually carried out like this: product price stays the same - quality level sinks - guarantee terms are shortened and so on.
e.g. A color laser printer. Original price 599 euro. Guarantee duration 1 year (can be extend with payments). Has an average life time of 3 years. After 3 years, the printer is broken and need a repair for 430 euro. The actual printers price after 3 year is at 460 euro.
So the questions is now (abstracted) to CONSUME (repair) or to CONSUME (buy a new printer).
Cutting the quality is not a very good choice to go for producers. The outcome of this strategy are often rather negative than revenue rising. Since 1. the image of the brand is ruined and 2. consumers are rather told to buy a new printer with a different brand than to repair the broken product for the same price.
20. March 2008:
Due to an economical point of view, money is something abstract. It is the materialized relation of values between good/service A and good/service B. There is some truth in it.
BUT: There is a new definition of the term money:
"Money is a natural resource."
I like the second definition way better, but I guess I am living in the wrong country to truly understand and feel it.
What is money ... ?
Some weeks ago, our economics professor at the university discussed with us, students the meaning of money.Due to an economical point of view, money is something abstract. It is the materialized relation of values between good/service A and good/service B. There is some truth in it.
BUT: There is a new definition of the term money:
"Money is a natural resource."
I like the second definition way better, but I guess I am living in the wrong country to truly understand and feel it.
27. January 2008:
1. It is a known fact that Marx was supported by Friedrich Engels. With a bad tongue, one could say Marx was Engels parasite. From this it follows that Marx is a ''Lumpenproletariat".
2. Hookers are nowadays providing a special type of service. Despite the fact, that they are providing their own body as service and despite the fact, that all brain using service providing professions are using part of their body to provide services .. (a few mental leaps) ... All service providers can be referred as Lumpenproleriat as well ... ?
Now don't stone me to death.
Word of the day :: Lumpenproletariat
Lumpenproletariat, a word introduced by Karl Marx and referred as the class of the society which is unproductive/parasitic and unaware of the classes. Examples are: swindlers, confidence tricksters, hookers, brothel-keepers, rag-and-bone merchants and beggars.1. It is a known fact that Marx was supported by Friedrich Engels. With a bad tongue, one could say Marx was Engels parasite. From this it follows that Marx is a ''Lumpenproletariat".
2. Hookers are nowadays providing a special type of service. Despite the fact, that they are providing their own body as service and despite the fact, that all brain using service providing professions are using part of their body to provide services .. (a few mental leaps) ... All service providers can be referred as Lumpenproleriat as well ... ?
Now don't stone me to death.
22. January 2008:
Horror crash on the stock market
Yesterday, the stock market in the whole world dropped and dropped. Well today, the DAX is still dropping. Where is the end ?
03. January 2008:
My observation of the IKEA phenomen:
Hotdogs for 50 cents, soft drinks with refill for 1 euro, Hotdogs with a free refill soft drink for 1.30 euro. The restaurant and the store densely packed. A separate playground for kids. Happy parents enjoying their nonparous time. Cheap dishes in the restaurant, which was even more densely packed than the shop area. People everywhere.
So not exactly the right spare time activity for me, but seems to be just the right thing for the other 90% of the visitors.
The IKEA Phenomen
Today was my first visit of an IKEA store. Some of my friends told me how great IKEA stores are, especially for families with children. In addition, some told me that they enjoy their Saturyday's IKEA visits because of their delicious "all-you-can-eat" dishes in the IKEA restaurant.My observation of the IKEA phenomen:
Hotdogs for 50 cents, soft drinks with refill for 1 euro, Hotdogs with a free refill soft drink for 1.30 euro. The restaurant and the store densely packed. A separate playground for kids. Happy parents enjoying their nonparous time. Cheap dishes in the restaurant, which was even more densely packed than the shop area. People everywhere.
So not exactly the right spare time activity for me, but seems to be just the right thing for the other 90% of the visitors.
14. July 2007:
What is islamic banking and why so?
Short: The shariah (Islamic law based on the Koran) prohibits usury and the collection or payment of interest. So moslems are not allowed to deposit their monetary assets in banks to gain interest.
So what is the difference between islamic banking and our conventional banking system?
Islamic banking is consistent with and operates in accordance with shariah.
Just an example: credit application
If a customer wishes to loan money to purchase an item, the bank might buy the item itself from the customer, and "re-sell" it to the customer at a profit. The customer will be able to repay the bank in installments.
I think this approach of new banking system is quite useful for moslems both living in islamic and non-islamic countries. On this way the economic processes will work more efficiently and advantageously for the islamic population.
Read everything!
Islamic banking
Islamic banking is the new trend in the banking sector.What is islamic banking and why so?
Short: The shariah (Islamic law based on the Koran) prohibits usury and the collection or payment of interest. So moslems are not allowed to deposit their monetary assets in banks to gain interest.
So what is the difference between islamic banking and our conventional banking system?
Islamic banking is consistent with and operates in accordance with shariah.
Just an example: credit application
If a customer wishes to loan money to purchase an item, the bank might buy the item itself from the customer, and "re-sell" it to the customer at a profit. The customer will be able to repay the bank in installments.
I think this approach of new banking system is quite useful for moslems both living in islamic and non-islamic countries. On this way the economic processes will work more efficiently and advantageously for the islamic population.
Read everything!
06. June 2007:
- I have got no idea, this seems really unreasonable for me.
In Austria, an asylum request needs several years to be handled. In those years, the occupation restrictions for asylum seekers forbid the applicants to work properly. The maximum salary an applicant is allowed to receive lies at a level of 100 Euro per month. In comparison with the poverty level in Austria, which lies at 700 to 800 Euro per month, it is really absurd !
Read everything!
The discussion about asylum seekers
Asylum seekers should not work? Why is it so?- I have got no idea, this seems really unreasonable for me.
In Austria, an asylum request needs several years to be handled. In those years, the occupation restrictions for asylum seekers forbid the applicants to work properly. The maximum salary an applicant is allowed to receive lies at a level of 100 Euro per month. In comparison with the poverty level in Austria, which lies at 700 to 800 Euro per month, it is really absurd !
Read everything!
15. May 2007: 
Germany decided to introduce a fat tax on products with high sugar and fat values within their "fit instead of fat" campaign.
Nowadays, food costs are rather unbalanced. The price for healthy products are often 3 oder 4 times higher than those of Junk food. If we think about the 1 EURO campaign for 11 products at McDonald. For 1 euro we can buy a ready-to-serve meal like a cheeseburger or a chickenburger and so on.
But if you want to get a good tasting meal rich in vitamins, you will pay way more than 1 EURO. So many people tend to get cheap fast food, because it is really convenient.
The simple thought after the "Fat Tax" is that with the increased price of noxious food, the demand after the mentioned will be shrinking. This is a basic cost and demand equation in economical sense.
A question that comes up here: from the logical and economical point of view, this might work, but will it work in our junk food addicted society ?
Read everything!
Fat Tax - the solution to overweight ?
Nowadays, food costs are rather unbalanced. The price for healthy products are often 3 oder 4 times higher than those of Junk food. If we think about the 1 EURO campaign for 11 products at McDonald. For 1 euro we can buy a ready-to-serve meal like a cheeseburger or a chickenburger and so on.
But if you want to get a good tasting meal rich in vitamins, you will pay way more than 1 EURO. So many people tend to get cheap fast food, because it is really convenient.
The simple thought after the "Fat Tax" is that with the increased price of noxious food, the demand after the mentioned will be shrinking. This is a basic cost and demand equation in economical sense.
A question that comes up here: from the logical and economical point of view, this might work, but will it work in our junk food addicted society ?
Read everything!
13. May 2007:
The average number of new opened accounts for portofolios lies at 50.000 everyday! Chinese people are selling houses and flats to invest on shares.
In addition to this hype, also the national anthem has been adapted for fun.
Read everything!
Chinese "stock market" anthem
In the last few months, nearly everyday is a new height for the chinese stock market (China's main stock index). With the bubble growing, chinese shareholders and non-shareholder are drifting into an absolute (rather irrational) exuberance.The average number of new opened accounts for portofolios lies at 50.000 everyday! Chinese people are selling houses and flats to invest on shares.
In addition to this hype, also the national anthem has been adapted for fun.
Read everything!
