Category: Finance

British finance minister: “the end of the austerity policy is in sight”

British Finance Minister:'das ende der sparpolitik ist in sicht'

Philip hammond introduces the draft budget. Image: gov.Uk / open government license

Philip hammond presented the draft budget for 2019 with multi-spending and threatens his party colleagues with the consequences of one "no deal"-brexit

The british minister of finance philip hammond is one "remainer" – an opponent of the eu’s exit from the eu. He is a member of the conservative party. That does not make his job easier. Whatever he does, rough parts of his own parliamentary group and the party membership will always harm him – partly right – to use his office for a campaign to the growth of the brexit vote.

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Bubgelden abroad can go to the thousands

Bubgelden abroad can go to the thousands

Munchen, 23. May 2012 – for a year, deutsche behords will be habited with bub money certificates from the european countries. That can really hurt, because lawn, dramming and too much alcohol is comparatively expensive in most countries.

Drive in norway only without a cant

In some countries, too unusual regulations apply. So only a few know that a roundabout in most countries have to be left at the next exit, if you drive on the right track. An easter rich speciality is: who holds ahead of a crossroads, automatically waives his eventual right of way. In sweden, a car may be parked for a maximum of five days at the same (public) spot. In the neighboring country norway, smoking is banned at the tax and in france the towing vehicles with private cars.

The evergreen alcohol at the wheel

At the topic of alcohol, there are a variety of different regulations. In france, an alcohol test apparatus must be available from july 2012 in each car. The book money is low with eleven euros, and it is enough for a simple shotterute with tube, which is already available for around a euro on gas stations. More than 0.5 per thousand cost in france 750 euros. High are the bubgelder at alcohol at the wheel in ireland (1270 euros), poland (up to € 1300) and great britain (up to 7350 euros). Danemark charges even up to a monthly income. In croatia, romania, slovakia, czech republic and hungary, the 0.0-per-thousand border. Norway, poland or sweden steps on from 0.2 per thousand.

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There is no grunes life in the wrong

There is no grunes life in the wrong

Image: bundis 90 / the great north rhine-westphalia / cc by-sa 2.0

The green falls in the climate crisis a central ideological function. Comment

The grunen chancellor can? This question, raised by mirror-online, seems quite justified in view of the results of the youngest state elections. Bundis 90 / grununen was able to grow in both countries, the party is considered the clear electoral winner of the urn gang in rhineland-palatinate and baden-wurttemberg.

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Sex scamming

Sex scamming

Scammers use the money transfer among other western union. Photo: usia. License: cc by-sa 3.0

In a moroccan small town, an industry has developed, the arabs from the gulf states lures via facebook and skype in errrbergsflecken

In central marokko, there is a small town called oued zem, which, according to the bbc reporter reda el mawy, has established a new business so that the economy has succumbed to the economy there: skype-sex scamming, mainly on rich arabs the gulf state is aimed at.

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25 Years amazon.com: an internet star lands in criticism

25 years Amazon.com: An internet star lands in criticism

It started with a single computer book, the "fluid concepts and creative analogies: computer models of the fundamental mechanisms of thought" by douglas hofstadter and its fluid analogies research group. With this book, jeffrey bezos tested in april 1995 in a kind of beta phase under computer scientists as to whether an online trade can pay with beers, if they are sold 30 percent at the price of retail price. If the computer scientists recommend the book to buy at bezos, he promised a credit of 8 percent – for the next bookman.

"Analogy and creativity", so the german title of the hofstadter book, were closely related to bezos, after completing an analysis of the sales opportunities in the exactly narrow world wide web for an investment company. The amazon was the big river in the world, amazon should become the largest handler in the world.

25 years Amazon.com: An internet star lands in criticism

To start from amazon.Com incorporated on 16. July 1995 you had just a dozen beech in stock, but was that the insistence of a megastor (175.000 bucher). In the first press release in early october it was already a million titles that the "groomed bookstore in the world on the web" allegedly. "If it’s in print, it’s in stock" prosped jeff bezos, who is very modest for himself "wall street wunderkind" written.

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Absurd numbers

The greece rescuers want to print the debt load by 2020 to 124 percent – with a colorful patchwork from single-ends

Greece is unavailable. In any case, not with the previously pursued neoliberal policy mix of budget roots and structural reforms. Knowledge the finance ministers of the eurogroup spat has been at the latest since mid-october, when imf boss christine lagarde demanded a delay of the austerity plan for two years and a second debt section. You also know that these emergency operations cost money, a lot of money.

Absurd numbers

Federal finance minister schael was already asked before the meeting of the finance ministers. Image: council of the european union

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Will 2014 the year of the plankton in the lower food chain of the financial market?

Author and financial manager georg von wallwitz to the present and future of the (shares) fund industry

The author and financial manager georg von wallwitz conveys in his much noted essayist work "odysseus and the wiesel – a mutual introduction to the financial markets" on a readily readable way, insight into philosophical history and thinking in the financial industry. At least since the financial crisis in criticism, the expensive and little customizable products, which created the fund industry, especially with regard to the stock markets. In the interview georg of wallwitz explains why he does not believe in loudness and gives an outlook on the ongoing boron year.

In her book, they criticize wide parts of the financial industry as unpunty parasites, which of the company overall more damage than serve. I quote from your book: "there are many people selling products that are crap. The financial industry has no unique selling proposition." can you learn why some sectors may allow more than others to trade unpunished against customer interests? A is always there where information asymmetry prevails, from which the provider benefits, for example in the area of cosmetics. This is no less the case in the financial industry than in many other sectors. The customer believes in the idea that still makes something meaningful behind the packaging. The core of the secrecy, which represents the financial industry as a necessary prerequisite for serious banks, is often only a justification to act behind the scenes unmolested. This creates special information asymmetry. Another quote from your work: "but the unobstaceable information advantage, the banks and wealth administrators, means that the game will be unfair again and again. Winners and losers are then fixed from the outset." has not really improved since the financial crisis and the possibly higher sensitivity for financial ies in the population? Georg von wallwitz: that is hard to say. The people are more likely to be more deliberately, that they are often pulled over the table. You hardly know what to do about it. But guilt are not only the sellers of financial products, but to a good part also the investors, where the greed eats the brain. If one comes around the corner, ten and more percent return promises, and people engage in it, unfortunately one can only conclude that man wants to be exchanged. Albermine yield goals will not disappear so easily from the world, they sell themselves too well. And another last book excerpt: "really unappetizing it will only be at the bottom of the food chain, the plankton, the so-called private clients. Often enough there are brought there without shame and without moral concerns good belonging people around their savings. Shares are sold, which internally with the short "pos" be marked, which is for piece of shit. Bonds are sold, which the bank no longer wants to have in their own beers because they no longer dare to the ier. It will be funds or "structures" (also like "certificates" called what sounds safe) that are loaded with tremendous bonds and very little spiritual effort." how does it look for six to seven years after the financial crisis, the business as usual at? Georg von wallwitz: i’ll explain it with an example from our everyday life: we had a case in our buro, where a man who began to erect at alzheimer’s for a while, from pages of a coarse bank almost every month with a new ship’s fund was supplied. At these, it was involved in the commission of the bank. And the consultant has exploited that for the customer of the ship funds every time a new story was. Some fund providers in germany have developed very creative hidden steam models that criticize consumer protectioners. At least it will change something? Georg von wallwitz: the fund industry is a bit stronger in the focus of the european regulators, so the identification of a total cost ratio (total expense ratio) was allowed to be a good and real thing so that the cost system becomes more transparent. Which performance and emergency model is based on your company to make a fair deal for all sides? Georg von wallwitz: we are also overpaid in some ways what i did not want to hide. Since the time of philosopher and theologian thomas of aquin, the righteous payment will be defined, which consolidates the production costs of the product and the market supply price. We lie in the middle between the local price, are cheaper than the average, but of course also significantly higher than the manufacturing cost. After the theory of marginal costs, we are repaid, but underpaid after the gear practice. On average, we are 0.6 percent in a building model, with the larger depots, of course, the smaller deposits always subsidize a bit later – although they pay a higher percentage. For 40 euros a month you can not operate individual portfolio management. In the sense, we have built a small robin hood factor, which does not take place in the fee for hourly rate at the end of the hourly rate. On the other hand, german providers are obviously too conservative with the money of investors last year, so that the success of foreign representatives, believe the numbers, is much better off. How do you see the german fund industry in the international context? Georg von wallwitz: the german investors tend to be very risked. For this, the stock is simply not anchored enough. The wealth administrator then has an asymmetric risk profile when the market goes up ten percent, then everything seems to be bad under seven percent return. And in the other case, when there is ten percent down, then everything is what is about minus three percent, in the perception of the investor bad. The keeping the wealth manager rather to be careful. A underperformance in a rising market is not taken this long as a underperformance in a falling market. This asymmetry is also available through surveys to satisfaction with the products. They themselves were some time in the fund industry at some well-known providers. What did she motivate it to get out there and to raise its own company in the wealth administration? Georg von wallwitz: i am from the ground on the type of self-like and also write bookers, which did not go, i was employed. I have told a top sleeve and my supervisor again and again what you can do better. That did not matter. A classic career would have been so securely installed. Of course i have also seen the chance to make myself self-standing with your own company. Is not it like dr. Jekyll and mr. Hyde a certain inner contradiction, on the one hand no moral, but still a critical book on the strange bustle of the fund industry and even parallel to list its own products in this area? Georg von wallwitz: there is also a book, which say i was 20 years at goldman sachs and now calculate with everything now. I do not write a billing book, because i am particularly appreciated the social benefit of the financial industry, all the unappetiticities of recent years. It is not my claim to put me morally on the high ross. Also, i do not challenge the abolition or nationalization of the financial industry, especially since in other industries does not take much better. I liked characterizing how the industry works primarily, something that is still reading in ten years. Literature only to write for the day, has no appeal for me. The mechanisms that i show will continue to work in the future. But what is clear that the financial industry ames a key role due to its particular importance, because a deutsche bank could not be replaced as a mobile radio company that makes bankruptcy. Therefore, it must be particularly regulated. Let’s see something detached from the personal environment into the events of the fund providers. The most famous representatives of these species are the three coarse specialists union investment for the volksbanken, deka for the savings banks and dws for private banks (deutsche bank). How do you have the market come true since the financial crisis? Georg von wallwitz: honestly, we currently have neither from the union nor from the deka products in our depots. These are largely sold on their own house channels and are usually in the ratings about morningstar not far above.

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Micropayment

Technical ways to control the internet. Part v: end of the internet?

Nowadays, shopping on the internet is still a rough thing – something that many people are defensive, as they are aware of the risks. The credit card can, so to speak "expired" will (which is called, someone uses the spied-up credit card number to buy in turn) what myriad can have unpleasant consequences. When certificates and trusted computing prevail, this martset will be loseless. With a personal certificate that ensures the secure connection (and which, if necessary, is linked to one or more computers to have exclusive access and the / are protected by a mantra, a smart card or biometric system), and certificates, on the other hand, verify the identity of the handler, the annoying process, which is currently associated with shopping on the internet, turns a smooth surfing and shopping experience.

Micropayment allows payments between two certificate holders. The user means a financial transaction by sending a message to the borse, which was signed with his private certificate and identified the payment receiver through its public certificate. Furthermore, the message contains the high payment, which should be tailored.

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