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2010. The

The year is over, the traditional looking back is called for to investigate the question of: What will be left by 2010? From my perspective there are probably more insidious developments for specific events. You have probably manifested by such slowly. Or we say: they are thus more likely to be perceived as normal.

"The end of privacy" had facebook -Bubi Mark Zuckerberg (Time Magazine's "Person of the Year") has been called - and he drove. About himself this year, there were already not so bad film ( "The Social Network ) - and look at: the publicly shown" privacy "was it seems not too pleasant. 2010 every case was proof that ethical principles as "on the way out" is how national laws. Hello globalized, networked world!

WikiLeaks uncritically published "secret documents" and regarded it as a good deed, without exception, represent half the world to each other only - call for a ground-breaking and dangerous balancing act between the desire to transparency and openness in the long term and may achieve the opposite.

The book "Axolottl Road Kill" enters the new copyright issue Absurditätslevel. The author Helen Hegemann copy-and-paste from various novels can be commercialized as a young writer and star even admits frankly that they have written off - without major sequelae. The lady is in the media, the book is selling brilliantly, eh fits all. What the hell is copyright anyway? The Catholic Church

sings now not only "back every year" for Christmas, but could indicate this kind of recurring to the abuse cases. Instead, deal Vatican rather silent on the subject, the corresponding output waves induce the local Cardinal Schönborn to an unattractive compared with the Nazi period.

In Chile 33 miners are celebrated, who stood for months underground, to be rescued in a unique action. As the man is so dependent, he forgets that the accident which has led to through bad management, poor safety measures, greed and a corrupt system is due. The backgrounds are thus not unlike that of the largest "man-made catastrophe" of the year: the BP Oil disaster in the Gulf of Mexico.

This event and the protest of TeaParty known as ultra-conservative movement, the U.S. has shaped 2010th Which brings us to stupidity, especially when combined with politics, arrived - and not to have much to Austria: The fact that Mr Strache the wheel banal-inflammatory Santander rhetoric every time nor can a piece to turn on, he proved to the Vienna-election . The fact that he is unfortunately on the right horse, too. The nation is in its mass will probably be stupid - and will also be addressed Sun Do not blame the blue dial really struggling to recognize and exploit? In truth this is probably nothing more than the bill for the policy that works for years, of funds with hard fact, "fold your hands, Goschn keep" the people after the bowl's motto to keep stupid.

the lazy, überproportionierten government bureaucracy are counterbalanced by a Visionslosigkeit their peaks, which is unparalleled. The obviousness of many reforms is also of little help to get the ruling class to act as the latent discontent in many specific areas - for example: the education policy. Rectors, professors, students, parents, students, kindergarten teachers and screaming for months, the soul from the body, the PISA study was the matching slap in the face - and "top" is just arguing about which of the Pröll (federal or Country ) post more in the future may haggle.

As if that were not enough, demonstrate former members of the caste that they have it: The Men Grasser, Meischberger and Co . do not show without chutzpah, as corrupt and stinking in this country Said stupid people "ruled" is. Head-shaking enough no more.

All this in the year in which Dichand died with the man who is probably also a certain part to blame for this system to blame. Every country has the government it deserves, right? "foreign ashamed" is not for nothing was elected to the word of the year.

That the economy in the world "crisis" is , in which it has catapulted himself into it, is also not new, but even "normal". Well, framework data (growth, inflation, exchange rates) in the year 2010 again, but they are commonly considered to be quite deceptive. Approaching national bankruptcy, is the utter collapse of the system and similar apocalyptic images painted on various walls.

no wonder at all corners and ends of "Parachutes" clamped so that it only Greece, Ireland and then tomorrow there. The fear of the domino effect is greater than the learning effect from the past - we have built prosperity on debt, we can triumph in the financial sector on the real economy, we have attempted to exploit the third world until she is on it come that we now depend on it. And now? If in 20 years must be the first Chinese foreign language? Where is the much vaunted "knowledge economy" with which we can compete against the production company of the formerly poor countries? (Where us back to the education policy would be ...)

Spain has won the World Cup in South Africa and it was good. Criticism of the award of the world's biggest sporting event in the African winter was loud, but incomparably quiet for decision, the next games in Russia (2018) and especially in the Arab-Muslim-dictatorial-super hot Qatar (2022) to hold. Allegations of corruption or not: Let's see what the world will say to 2022.

I count among the few people who have flown a lot this year, but hardly affected by the various difficulties of the air traffic was - what luck! Iceland has the world by his "Natural" side to know - Greetings from Eyafjallajökull . In December, snow fed airports and airplanes in various frozen-scenes chaos were to blame. Nevertheless, almost beautiful, if nature has terrorism as a theme in their place.

The music was the "Big Bang" in 2010 or from, as well, sneaking the "new world order" approach rather softly way from the property, to streaming services. Youtube is increasingly used as the ultimate jukebox. Thus Skeros (in fact already published in 2009) Hit Cabin Party million plays on Youtube Added to that, the sales figures were still low - know the song does stop every now. Still missing Here's a real "business model", which is able to replace the existing. The debates surrounding this issue will last longer and also carry flowers that speak of the end of pop culture. Big giants like EMI stumble and stagger, meanwhile, between existence and being broke, even though the Beatles may finally be on iTunes GE bought and sold.

Like every year, this year the vote and discovering music consumption went back massively on my part. First reason is the lack of time, which is bitter. On the other hand, the "Diary Run" the concert has, in the first half of the year brought to light that nearly 200 bands must have made this year look to me. According I am also doing easier to list the most interesting live experiences: First, there would be

the memorable pilgrimage of about 30 residents to see in Vienna to Munich to MUMFORD & SONS in April in the crowded backstage. Energy, heart, joy, just the acceptable amount of pathos, humor - this concert was all that should provide a great evening. Everything. Afterwards over a beer a little drunk with the band chatted, but it could not really spoil. Great! And everyone agreed to have the pleasure of this volume in "intimate" framework would be - that will soon be history be (which has now come true already, the band is on a direct path to the stadium). Since

would Efterklang who have spread in the Brussels edition of "Spot on Denmark" in AB her magic dust on me. Who needs hit singles, radio airplay or Seitenblicke stories when he has the gift to take people on a journey from which one wishes she would not stop so quickly ... fabulous! Since

would FIRST AID KIT I knew only fleetingly before they put me in Zurich in m4music Festival made a fan. This seems to Efterklang mentioned spells occur in Scandinavia with the mother's milk. The very young sisters are from Sweden, are still on tour accompanied by her father and have not yet been a British agent who is acting stubborn, short-sighted and not very wise.

And LCD SOUNDSYSTEM in Berlin were simply fantastic. Mentioning receives an honorable Jarle Bernhoft , who took me in contrast to the hyped figures Ellie Goulding , Jamaica and Marina & The Diamonds on a cold € Sonic maintain evening splendidly. A minimum of just such receives Thomas Dybdahl that the Spot in Aarhus was my highlight.

It clearly gets around, and that's a good thing. In this country, I often like to put this year my knowing smile to find at least for myself the confirmation to work with the greatest Kapazundern that are left to local theaters. A number garish concerts to 2010s-oeuvre "If you that my love does not prove" come to mind - some of which I was a part of the "rat choir" suddenly everything behind, but on stage - funny one experience.

Velojet have with their "Heavy Gold tour, including String Quartet (snow) the bird shot - especially to me is the very intense Popfest remain appearance in memory. This first unqueried skating exhibition of the Viennese scene at Karlsplatz was even a fat exclamation mark - with a few teething problems, but great.

FRANCIS INTERNATIONAL AIRPORT have with "In The Woods" delivered a masterpiece of its records and assets to bring a special time and time again to improve on the boards. TROUBLE OVER TOKYO has released an album as a book and fills us with pride - on his entertainer qualities you had to make either before or after care. And. Sun Next.

These and many others have also worked with the Beach Boys-evening on the occasion of this year's ink b (each) day bash supplied B72 in a more than evocative evening. I pull all the hats and say proudly and loudly THANK YOU for this year!

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Ben Bernanke at The Daily Show on quantitative easing

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world energy outlook: rising energy prices weaken growth

On 9 November 2010 the World Energy Outlook 2010 published by the IEA. Some of the graphics presentation are worrying:

1. Conventional oil production reached the top 2006th Conventional oil can be pumped easily and at low cost from the ground. Unconventional oil is extracted from oil sands or pumped from the deep sea, the production costs are correspondingly high and the proportion is small.
   
   to get around the present level of production are, therefore, new conventional oil fields to explore and open up. Since this happened to a large extent, I must wonder where these oil fields to come suddenly.
   
   
2. The next graph shows the change in energy consumption. While the IEA assumes that emerging economies will consume more coal and gas ... goes ... it from a significant decrease in the oil and coal consumption in developed countries. So you can not rumdüsen with your beautiful, heavy cars. Unfortunately, this is no longer in it, as the oil now comes to China, sorry!
   
   
3. So we can assume with great certainty that represent increases below massive understatements, especially as the IEA believes that the policy could screw down the oil prices. One remembers the political "success" of the various climate summit.
   

It seems that the IEA is playing down future price increases for political reasons. More details on the IEA's Repot in this blog .
One can probably assume that the future economic growth is reduced by rising energy prices.

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European debt crisis

The markets were weak today, caused in part because of European debt crisis that Ireland's banks. Today's Financial Times includes an interesting graphic, which gives an insight about the extent of the crisis.

Germany is in a real dilemma, because both its banks USD have borrowed 139 billion to Irish banks, and hence are comprehensive support packages, on the other hand, the German citizen tired to run to the European problem countries to help.

I also found a Morgan Stanley (MS) report of 22 November 2010 (Morgan Stanley Strategy Forum) on the topic:

Global Economics by Joachim Fels freely translated and shortened the original text in English blog): The
yesterday decided rescue package is not the end of the crisis, it just opened a new chapter. MS believes that the crisis moved from the periphery of Europe (PIGS States) to core Europe.

be further referred to the following uncertainties:

1. The European help increase the solvency of the Irish banks. The repayment ability of the Irish has not been established.
2. What happens in 3 years, ending when the rescue fund? Bond buyers should also play their part? This would have a massive devaluation of government loans for the episode!
3. imported by the rescue fund core Europe, which guarantees the debt, the solvency crisis from the peripheral Europe. .

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What if I would have bought instead, Apple shares ...

Blogger Kyle Conroy researched historical prices of Apple products and Apple stock prices
He presented in a table, the price of the product at the time of the appearance of the present value of the share package to the following:
I
If you had 1997 instead of the Powerbook G3 for $ 5700 Apple shares (AAPL ) purchased for the same value, they would today be worth USD 330 000 .- . The reason for this incredible performance is the phenomenal development of $ AAPL's fourth to USD 300 -:

Source: Reuters

In hindsight, we are always wiser!

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Taleb: The Fed squeezes the ketchup bottle to all of us full

Nassim Taleb author of "Fooled by Randomness " and "The Black Swan " and successful Optionenhänlder an outspoken critic of the financial establishment. He keeps busy with non-linear effect chains and improbable events that occur but only too often. Recently he was on Bloomberg TV a very pictorial comparison with a ketchup bottle.

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outperformance are of value stocks with low risk

Last week I had the honor to attend a presentation organized by Prof. Haugen by the Swiss CFA Society.

Robert Haugen presented very convincingly the attractiveness of value stocks with low risk. These shares have a solid and proven business model, the constant but not fast-growing earnings and attractive dividends generated. His empirical research shows that these stocks have delivered in the last 80 years konsisttente outperformance.

In Paper of 2008 "Case Closed" he explains these results

... "we feel that the market overreacts to past record of success and failure on the part of companies, making relatively expensive (growth) stocks too expensive and Relatively cheap (value) stocks too inexpensive after the initial: as follows. overreaction, the market tends to correct itself, producing low returns to expensive growth stocks and high returns to value stocks cheap, as the relative profitability of these companies tends to mean-revert faster than expected. "

This article has important implications for the selection of stocks in a portfolio and provides the justification for the success of value investors like Warren Buffet.

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quantitative easing children

following Youtube tip I have on a Morgan Stanley Presentation will receive:

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Chinesisiche properties and the high-risk advances emerging

BCA's Arthur Budaghyan made yesterday in a presentation of the Chinese real estate market and its impact following on emerging markets stocks key messages:

The recovery of the last 2 years has been driven by Chinese economic stimulation of the real estate market. homes rose out again by 45% although the real estate boom has gone on 12th The Chinese government now seems to be worried and tried to prevent overheating by increasing interest rates. End of 2007 increased the Chinese government, interest on the same basis with the result that raw materials (highly correlated with emerging countries) and emerging market shares six months later (usual time lag of monetary policy) massively invaded (June 2008).

Arthur believes will be only a short-term bull market QE2 effect of 3 months and then collapse the markets.

Another indicator of the increased IPO Tätigket the commodities trader Glencore as (recall the IPO of Goldman Sachs, Blackstone, 1999 or 2007).

adjacent graph clearly shows further how much the volume of trade due to large capital inflows and undifferentiated purchases exploded.

addition, advanced raw materials in USD but not in CHF or JPY (defensive currencies). A sign of the weakness of the USD and the non-confirmation of a strong emerging market growth.

The preferred asset class is, therefore, liquidity. Arthur does not believe also that the resources of the QE2 will flow into the real economy, which is consistent with a deflationary scenario and is a stable dollar.

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U.S. monetary base

The monetary base of an economy consists of coins, notes and deposits of commercial banks at the central bank. The monetary base is the only thing that can control the central bank directly. The following chart traces the historical course of U.S. monetary base. In the last 2 years this was like a Missile. The Fed has to be at a loss to make such a historically unprecedented measure

are the way the 600 billion of the QE2 does not take into account (would not have space on the graphic)!

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Greek swap Report

Bloomberg has reported that the ECB does not publish the report on the Greek swap transactions with Goldman Sachs.
By arranging a dubious swaps, which masked the debt and deficit, helped get the Bank of Greece in the EU. Monsieur Trichet's ECB
was quoted as saying: "The information contained in The two documents would undermine the public confidence as regards the effective conduct of economic policy ... "and" ... mention in the current market very vulnerable environment, the substantial risk of acute and adding to volatility and instability. "

Needless to swap the damage to European citizens.
jemenand Does not Euros or Greek bonds?

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Barton Biggs and Bill Fleckenstein on Bloomberg TV

Dealbreaker.com On the blog I found an entertaining interview. Specifically, the excessive demands on the presenter makes the clip worth watching. Unfortunately hinerlässt the famous Barton Biggs a sad impression.

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The Suicide Wall Street's

I must confess that I am very ordinary: My favorite author is a bestselling scribe Michael Lewis and his two books, "Liar's Poker" and "The Big Short".

• "Liar's Poker" is about life in investment banks on Wall Street in the Eighties. The reader is shocked by a surreal culture of greed. The stories are told but they still are very humorous and entertaining.
• "The Big Short" tells the story of Wall Street geeks who bet against the system and high gain. Wall Street's greed and the left still significantly increase: A bond dealer complained, although his bonus was $ 47 million.

in a Bloomberg TV interview on YouTube predicting an end to Michael Lewis of the Wall Street business model, should the anger of the electorate to find their way into politics.


exercise investment banks as intermediaries for their customers and are trying at the same time to realize a quick profit by breaking down trade positions against the same customers on or off. A massive conflict of interest is the result. Maybe in the future, these two activities will be separated: cheap online broker on one side and hedge Funds on the other side.

A very exciting and entertaining film is "Enron: The Smartest Guys in the Room" , although the story had been in years. Here's the trailer:





For avid readers who are interested in historical speculative bubbles is "Extraordinary Popular Delusions and the Madness of Crowds" recommended . 400 years in a book madness!

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Chinese debt and excess capacity

The last post I wrote about China's high debt and excess capacity. I must confess that I was not much convinced by my argument, so I is investigating a little further. Morgan Stanley's Wang Qing, on 31 March written 2010 on the debt:

China's total debt is low at 170% of GDP compared with developed countries in the total debt of 250% -500%. Next is the external debt relevant because national debt can be offset with the national assets. China has the lowest external debt of the world . Although the ability to generate cash flows, etc. is considered, can be identified no systemic risk. However, the opacity of some local banks in the quality of its loan portfolio, which puts a damper on stock prices.

Regarding excess capacity, it is clear that these are made in real estate and heavy industry. I doubt, however, that these sectors can drag the economy into the abyss. Moreover, the recent interest rate hikes introduced to limit the growth in capacity.

On 22 October 2010 preconceived Gregory Peters and Jason Draho the situation is as follows: The quantitative easing supports risk-taking: Buy the U.S. dollar and buying preference shares of Emerging Markets.

is again: Do not fight the Fed!

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overcapacity in China

have in recent days, I read an interview on Businessinsider.com and presentation by Vitaliy Katsenelson. Although Vitaly's presentation seems to knit, I have to keep it good that he made me doubt the basic chinesesischen investment case

• overcapacity : Due the partially centrally planned economy of China (with a huge bureaucratic apparatus) was overcapacity in the property sector (commercial and residential) and built in heavy industries such as cement and steel. The stimulus program after the financial crisis in addition to increased capacity.
• debt overhang : lots of money (in the form of loans) will be distributed in accordance with the Politikauf the local level. The stimulus program increased the debt in addition
• Impact on the Chinese economy. Due to high fixed costs (depreciation and debt service) is likely to suffer the national economy strong.
  
• International Impact: raw material suppliers such as Australia, Brazil and Russia will feel the impact most.
  

But do not, fight the Fed. Despite this gloomy picture, the planned quantitative easing in the U.S. will help ensure that this bubble will not burst in the short term. Of course this approach the risk of a missed exit is inherent.

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inflation and stock returns

investors who want to protect it from inflation Aktienegagement be disappointed by the graphics of www.businessinder.com :

Experienced and value investors who follow the classic Benjamin Graham (as WE buffet) to know this connection long ago.

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The beautiful myth of Moloch

Spiegel Online has time and again, we ventured to explain Korea. For the experiment, it is said, as always, thank, but also many observations are correct there. Moreover, the mere presentation of Seoul as existing on the widely read German side is positive. But not if we once again experienced that the author has no idea of the city, or get on his research trip just the usual things has shown. I'll just comment on the original plays a few things. Of course I'm biased as a consultant to the city of Seoul a little (cough) I do not want to conceal.
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/ NOTE cynicism /

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Green, green, Seoul
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22 million people live in Seoul - for decades a juggernaut, gray and full of cars. But city planners are developing here is a lot of money for the city of the future: green, healthy and happy with big dreams.
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First of all, not 22 million people live in Seoul. In Seoul, some live more than 10 million people in the province of Gyeonggi drumrum you might find the other 12 million, in well-organized, well planned cities with the latest infrastructure and good air quality.
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can learn the West in South Korea, as does the eco-renovation of a Mega City?
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No he can not, because Seoul has a very different history and buildings as European cities. In addition, there is no city in Europe that is as large as Seoul. The same applies to the United States. If the west with even Mexico City and Rio de Janeiro are meant: No, can not learn from these cities because they are in a very different stage of development and such projects can not lift. Point.
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like a revolutionary or-gooder does not Kim Ki Ho straight. The graying college professor from Seoul smiles a lot while talking. Jacket and tie are properly seated, the peak also. He speaks in a low voice, and promotes patient for his ideas. But what he says is downright subversive. "Is going to foot a feeling of freedom," says Kim. And because life in Seoul with freedom "has nothing to do", is the high school teachers on the offensive. He wants his city to make this massive structure of asphalt, cars and pollution, human again.
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How nice. These old professors who still mourn their German town times. Ensure that there is no freedom, seems to be well enough Professor salary was to begin working in the middle of the Moloch.
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Kim wants a free and pedestrian city of Seoul. A truly cataclysmic plan.
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One can at Hangang already 60 km walk without once having to stop. Pedestrian zones? Myeong-dong, Insa-dong, Mok-dong Myeong-dong is, etc. But I think a larger pedestrian area as they have among the most European cities. Purchasing Quality has nothing to do with pedestrian privilege. Kudamm and Koe are also beautiful shopping streets.
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The word of the 57-year-old has weight. The professor of urban and regional planning at the University of Seoul is a kind of eminence grise.
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Ah Here it is again. A city with "22 million" residents, and only one university! No wonder that since the big problems are. I'm assuming that he is a professor at the Seoul National University. Incidentally, of all the universities that I've seen the world, by far the most extensive ever with the greenest campus.
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He studied architecture in Aachen and Urban Development, he is internationally renowned expert in his field, and he designs in a Planning Commission at City Hall visions for survival in the mega city. And he has managed to be heard. The metropolis of more than 22 million people nearly choked on their growth, but this year it presents itself as a model for a change. As the "World Design Capital", the second in Turin 2008, will she a model and the "innovation center of the future". Seoul is beautiful and green design and serve as a key for it. Not always new glittering facades are required, but pedestrian boulevards and traffic calming measures. An experiment that could be groundbreaking for other mega-cities of Jakarta and Mexico City.
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Ah, there we have the mega-cities of the West, Jakarta and Mexico City. Indonesia's mineral resources by the way, despite a per capita income of almost exactly one tenth of Korea. Of course, is exactly the right comparison!

The change in direction is urgently needed to Seoul. Nearly half the 48.5 million South Koreans now lives here in one of the largest urban centers in the world. The clock in the boiling pot is determined by an unchanging pulse of tireless activity and hectic noise from early morning until late at night.
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Yes, this is called the economic center, as I have not heard in other cities around the world different. This can not of course in the closing paradise understand. And even the claim that half of Korea in Seoul live is not real by repetition. There are people inside the commute from the suburbs of Seoul, there is the counter-movement. You simply can not fully incorporate Gyeonggi-do Seoul.
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Seoul's traffic, Seoul is predatory. Vehicles to pedestrians. More than 2.5 million cars are registered in the capital alone, tens of thousands of buses and hardly to be counted motorcycles and scooters, the crowds move through the city. "Life here is a struggle," says the young political scientist Kang Bo Ra. "An hour of walking is like a pack of cigarette smoke," said urban development researchers Bahk Hyun Chan.
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captured good comments. No wonder you are a journalist, I know that the way tens of thousands of buses are not necessarily a bad sign. Would it be better if the tens of thousands buses only a few hundred and people would fortieth to hang on a truck in India?
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'Stroll is a very beautiful word in many languages is not really ", says expert Kim. "Especially not in Korean."
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Yes, there are many words that do not exist in other languages. For example Pungnyu as a term for loose living, in harmony with nature, art and pleasure.
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The university professor will therefore be given the last is not necessarily wegsanierten Old Town district. Not only because of its more than 600 years of history, but also because of the old, not ground roadworthy streets. He wants Also more and better sidewalks, pedestrian crossings, one-way streets, pedestrian zones, bike paths.
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is nothing compared to object. The 600 year old history is another thing, most of the quarter, which are simply wegsaniert the way here in Gongdeok are refugee district in the 60s and 70s, in which was until now done nothing, little worth preserving. The situation is different in places like Seochon or Bukchon. 'd Like to see what you said a Brazilian, when a professor says that the favelas are so cute, purely because there can be no large cars.
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grassroots democracy still a foreign word.
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Yes, computer is still a foreign concept, but it does use it anyway. How good that we regulate everything in Germany on a democratic basis. And that we approve of basic democratic decisions, such as in Switzerland unconditionally. Good thing we do not see that it was probably in Korea are similar to many popular votes as in Germany and especially at higher levels. Even intra-party democracy based on party days is at least as controversial topic of discussion; after all, there are several candidates to choose from in Korea and also a presidential candidate is not ausgeklüngelt in back rooms.
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Professor Kim is the head of the Citizens' Initiative Dosi Yonda, which roughly means "Union for a pedestrian-friendly city."
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No, it does not. It's called "Union for the city" or "Union City". And is the correct romanization for the term "Dosi Yeondae. Since we received demonstrated time and again why the abolition of diacritical marks in transliteration is better, but keep a jumble and the common use to no good.

This is remarkable in itself for Korea, where specified by the end of the eighties or the military, the tone of political and grassroots democracy is a foreign concept to this day.
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Oh No, there are NGOs in Korea! And not just for cities but for every conceivable topic.
. That he has
but still found the open ear of Mayor Oh Se Hoon, 49, and that Seoul is a kind of ecological cosmetic surgery is prescribed as a surprise.
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is not at all surprising, and the mirror-author reveals why even at the end: Oh, is even environmental lawyers and activists have been, it was clear that this is his main theme. He has made it an election campaign. Surprisingly, perhaps, is that he has kept his promise.
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"We must find a new balance," says Oh. The city will again become a "harmonious "Are for work, people and nature. For too long the environmental economic interests had been sacrificed. Now we stand in a" regionally significant turning point ".
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true.
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Oh likes to talk about his . vision of Seoul as a "soft city" in which the creative industries are at home, culture and urban development play a new role and live people to not only work, he is convinced that "Design has the power to make the world better." inside out why it to the city.
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You might have the entire article should be only talking Oh, now the third paragraph without objection on my part.
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Design Center with green spaces

The 85,000-square-meter site of the former Dongdaemun Baseball Stadium, which was surrounded by hundreds of small tailor shops and laundry rooms, to be built for at least 250 million dollars a modern center for fashion and design. The core will be a spaceship-like monster made of steel and glass with conference and event rooms, fashion schools and exhibition space, the designers of the British star architect Zaha Hadid.
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The monster is like any other modern building in the world of steel and glass, but above all it is overgrown with greenery, fits into the environment, raises Differences between inside and outside, top and bottom.
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Another centerpiece is a large park that will crowd out the seemingly endless car flows from the center. For South Korea's previously prosperous metropolis ruthlessly that are totally new perspective.
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What, what, where? What is meant? Yongsan?
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defect rather than the current Seoul area grew in width, especially in the height at which asparagus-shaped residential towers drab, close together: a city had become a nightmare of glass, steel and concrete.
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Trist are the residential towers, the same old design also no question. They are close to densely partially built, the larger complexes are located in large well-kept gardens. Whether Seoul is a nightmare, I doubt it. How good that a city is not just the sum of its buildings. It is what old towns still maintain so nice if the substance and structure is not correct, a city is a real nightmare.

But she also grew downward.

At dinner in the underworld

Seoul - these are really two cities: one about the earth, but also a colorful underworld. Wherever possible, a descent into the earth, is at access to the extensive subway system, for example, connect a long shopping arcades the stations. Under huge street intersections, in subways, but also in office buildings or hotels, there are lively traditional markets and thriving service centers.
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Yes, this is called smart and practical ways of planning and enables fast connections. If there is anything that Seoul should not give up, then this practical system.
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gyms, clubs and restaurants like the popular "Hofbräuhaus" in the office and entertainment district in Gangnam lure above ground often with a narrow door, behind the descent.
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Oh my God! Clubs in the basement! A world first. A nightmare. And restaurants in cellars and I am for the immediate closure of all Council cellar, wine bars and
not least ... um ... as beer cellar as the Bürgerbräukeller. Anyway because only evil things like Hitler coups are held. Really, those crazy Asians build, just keep in the ground!
And otherwise: Is there still the Hofbräuhaus? Is this not long ago closed down? So popular, it may well not have been.
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Mayor Oh not like it when his advisor Kim a "displacement of the pedestrian under the earth" speaks. Oh had for the "underground city planning" a very unique role: "We had our exploit space absolutely. "But that was yesterday.

Today everything is different. competitiveness is more important than ever to believe Oh," but only one city where you would like to live, is also a city in which you want to invest like ". .
right Mr. Oh, even if the platitudes do slow painful. A born politician, our mayor.
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Oh is a Dauerlächler who always seems nice and because of his boyish charm is well received. For his Master Plan The lawyer sought tuition in Europe. He was in Milan, Brussels and Graz, he was informed in Hamburg on the new port city.
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A Metropolis seeks no tuition, they visited other cities to build relationships, develop and learn. It's called learning from each other and the way is contrary to the above sections, is where talk of Seoul as a model. Korea exports its subway system and Germany its trams, so you help each his part.

Back home, he noted that the awareness of his countrymen has changed. "Our people want to finally enjoy free time and feel good," he believes.
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he not only believes, is like that. And noted he has also before his trip to Europe, from the He came back with bulging order books for the city.
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stands at the window at City Hall and looking down on a huge lawn area, the official one for Seoul's relations can enjoy almost eerie calm.
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At least you should still be able, if one writes for Spiegel Online (my hatred of the envious position at Spiegel Online is intended)
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It is not that long ago that the Government was still one of the worst traffic islands of the city. Six multi-lane main roads from all directions met here to a giant star-shaped intersection and clouded the centuries-old royal palace Deoksu just across the street with a permanent cloud of exhaust. It has been Ohs predecessor Lee Myung Bak, of such "new thinking" prepares the way.
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The same president the way, the demonizing of the left intelligentsia as fascist dictator, who had just disposed of democracy in Korea.
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The current president acknowledged that Seoul is not one of the highest population densities in the world could continue to grow infinitely. Lee turned to the public transport system. He organized express routes for buses and work for her own, congestion-free lanes. Lee could main transport hubs calm and reanimate a river covered with concrete in the center, the Cheonggyecheon. He was first buried in 1961 and then replaced by a multi-lane expressway was.
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Several facts behind each other dargeleget correctly. One with an asterisk.
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The six-kilometer-long highway leading through the living room on stilts almost in the heart of Seoul.
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whether there were particularly large living room on the way, I doubt, unless you count with that the textile workers have been sleeping until 70, in their factories.

For the equivalent of around 300 million € was Lee demolish them. For over four years flowing the creek again to just under four kilometers in length and became the symbol of the green awakening.

environmental friendliness as a trademark

Oh let other road junctions in the center of calm, unassuming side streets with sidewalks aufhübschen, create green spaces and fountains. The pedestrian-friendly transformation of initially 20 major streets of the city is part of the official design program.
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fascinating to see what in the few months after tutoring has brought from the West to create smart, so everything. Or you have about starting before?
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"remain of course the economy, Transport and education are very important, "says the mayor - but" to increase the satisfaction of the citizens, environment and culture are the key factors: the environment is to our "In five to ten years, he wants to Seoul have made it a pedestrian-friendly city." be the new brand. "
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's good. sound
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Compared to Lee's traffic measures Oh visions downright revolutionary. He wants to" work wonders on the Hangang, and the lake shores of the mighty Han River for people and Arts reclaim.
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If he wants to accomplish the Miracle of the Hangang, he comes a few decades too late. But the second miracle of Hangang it might be already, so it is certainly in all the brochures.
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The mighty river bisects the city from east to west at around 50 kilometers of shoreline. Eight to zehnspurige car runs the Hangang lined on both sides and divide the city as a demarcation line, partly on concrete stilts.
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that line to about the same park the river, maybe you should say to the overall picture.
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Now the power to "the new icon will be. Oh wants to "reclaim nature along the river for the people" with a mighty effort and the paradise for cyclists and joggers . Develop High-rise neighborhoods to the water front areas and capital transformed to a port city "will be.
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Where we are back to Lee Myung-bak would be indebted to the Oh to any case of political success more than his boyish charm, which is highlighted by the article as.
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Libeskind builds Giga-skyscraper

is part of the plan, a new residential and business district in Yongsan, the star architect Daniel Libeskind has designed. Archipelago is the potpourri of 21 apartment blocks, offices and parks in the Yongsan district. The center will form no later than 2017, when a 640 meter high skyscraper, one of the highest in the world.
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apartment blocks is again one of those terms. The latest 200-square-foot apartments with river views are always automatically apartment blocks once they exceed a certain number of storeys. The German does not live like high, but the Koreans, but please let her preference, as long as the houses are well designed.
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For this, the highway on the north shore, inverted world, be placed partly under the earth in miles of tunnels. That such plans sound technically and financially almost unbelievable, does not bother Oh. "The agreement shows the people that we can convince," he says.
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is not only for it, but within the overall transport plan laid, in other places. Why is the "inverted world" should be, open up to me not even the fifth reading.
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Before he was elected three years ago when the mayor, the lawyer was not only renowned Ökoanwalt. He was quarrelsome member of the largest environmental initiative of Seoul. He changed only the pages, but not his conviction. Oh for the willingness to go far politically.
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Yes, in an age in which all the people demanded better quality of life and the government spends billions upon billions in green technologies, it is really daring as a foster son Lee Myung-bak's jump on the program. A very bad this revolutionary Oh.
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How far? In early summer, will be local elections in Seoul, and since it must be re-elected. For Oh Se Hoon still marvels before: He wants to inherit from his predecessor a second time. As president. That would be early 2013.
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The elections are likely to end 2012, the inauguration would be 2013, right. Should he do anything the way he is without a re-election of a candidate for the Democratic primary basis of GNP in 2012. But how to win candidate nomination process, as Mr. Oh can still ask for time in Germany, for example, the Federal President, neither elected nor directly elected on a democratic basis as a candidate. Or, the Chancellor, when this is the same. Or the prime minister. Or or.
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