Theories Of Motivation In High Risk Sports Psychology Essay

Theories Of Motivation In High Risk Sports Psychology Essay Introduction This Chapter will attempt to give the reader a greater understanding of the windsurfing and the definitions and theories of motivation. It will use previous research that has been carried out to examine further some of these theories and observe consistencies and in-consistencies in the area of motivation in sports, outdoor sports and high risk sports. It will then use this information to Purpose of Research Justification Clarification of Terminology Historical Background of Windsurfing In the late 1940s, Newman Darby discovered how to sail a three metre sailboat without using a rudder by leaning the sail towards the fore and aft of the boat. It was not until 1964 that he designed the first universal joint, a component that connects the sail to the board that allows it to move in any direction (http://windsurfingmag.com/how-to/2008/03/26/windsurfing-glossary/). It was not until 1968 that Californian surfer Hoyle Schweitzer and Sailor Jim Drake got together and using Darbys ideas created the first windsurfer. They patented their design and in the 1970s began to produce it widely. It was Darbys concept of the Universal Joint that was at the core of their design that allowed the windsurfer to be steered without a rudder. Initially the windsurfer consisted of only one board which beginners learnt on and experts prevailed on. Everyone used the same kit regardless of the conditions or skill. (http://www.windsurfing-academy.com/information_bank/history/the_history_of_windsurfing.asp). The board was made from polyethylene, was 12 feet (3.5m) long and weighed 60 pounds (27kg) By the late 1970s windsurfing had taken a firm hold of America and Europe with one in every three households in Europe possessing a windsurfer. (http://www.windsurfing-academy.com/information_bank/history/the_history_of_windsurfing.asp, The Windsurfing Movie, 200?) The first world championships for windsurfing was held in 1973 and windsurfing became an Olympic sport for men in 1984 and in 1992 for women. Patent Abstract: Wind-propelled apparatus in which a mast is universally mounted on a craft and supports a boom and sail. Specifically a pair of curved booms are accurately connected athwart the mast and secure the sail there between, the position of the mast and sail being controllable by the user but being substantially free from pivotal restraint in the absence of such control. http://inventors.about.com/od/wstartinventions/a/windsurfing.htm Development of Windsurfing This section will look at how windsurfing has developed both in relation to the equipment designs and the attitudes towards it. It will also look at where windsurfing is today and attempt to predict the direction it may be heading towards. Definitions of Motivation For the purpose of this research it is important to understand what is meant by the term motivation. This section provides several definitions for motivation along with further information to bear in mind about the term motivation The term Motivation is derived from the Latin word movere meaning to move (Onions 1996) cited in (Moran, 2004). The concept of motivation can be defined as The hypothetical construct used to describe the internal and/or external forces that produce the initiation, direction, intensity and persistence of behaviour (Vallerand Losier 1999) cited in (Vallerand Rousseau, 2001) Motivation can also be defined as being concerned with those factors which initiate or energise behavior (Moran, 2004, p. 38). Sage (1977) cited in (Festeu, 2002) states that motivation is the energizing element of personality which is reflected in individuals direction and intensity of effort. Within the field of sports psychology motivational issues are implicated when a person undertakes a task at which he or she is evaluated or enters into competition with others, or attempts to attain some standard of excellence (Roberts, 2001, p.6) cited in (Moran, 2004, p. 38). Various theories of motivation will be looked at in greater detail within the next chapter Theories of Motivation. According to Roberts (2001) cited in (Moran, 2004), motivation is one of the most misunderstood constructs in sports psychology. Roberts (2001) states there are three reasons for this. Firstly motivation is often confused with arousal. Roberts (2001) states arousal needs to be channeled in a specific direction for motivation to occur. Secondly Roberts (2001) states that motivation cannot be enhanced through positive thinking as commonly believed. Research on goal setting shows peoples objectives have to be controllable and realistic to be effective. Finally some coaches believe that motivation is inherited genetically something which is also contradicted by research which shows motivation can be changed through appropriate instruction. Roberts (2001) cited in (Moran, 2004, p. 39). Arousal Theories of Motivation Introduction This section will look at the various theories of motivation that have been developed over the years. These theories are not all directly relevant to the subject of this research but are necessary to allow a greater understanding of the area and theories, both past and current, of motivation. It will also look at the different types of motivation and the different factors that affect them. It will draw on information from various studies using these theories to attempt to develop a further understanding of these theories and how they are relevant to the areas of said studies. Instinct Theory Most current sports psychology can be traced back to William James (Model, 2005). James (1890) published an article called What is instinct. James suggested that interest plays an essential role towards attention and consequent behaviour. This theory bears many similarities to the Self Determination Theory proposed by Deci Ryan (1985). The Self Determination Theory will be further discussed later in this section. Sigmund Freud (1915) provided one of the earliest theories of motivation reviving James theories. Freud (1915) cited in (Model, 2005) suggested that individuals are passive beings and are moved by instincts, the main two being sex and aggression. Together these formed Freuds (1923) Instinct Theory (Model, 2005), (Vallerand Rousseau, 2001). A major criticism of Freuds theory is that instincts can be hard to identify. Freuds theory also fails to take into account the effect the environment may have on motivation. (Silva III Stevens, 2001). Need Achievement Theory The Need Achievement Theory considers both personality and situational factors as important predictors of behaviour. (Atkimson, 1974) cited in (Festeu, 2002). Personality refers to an individuals drive towards success and avoidance of failure. Murry 1938 Atkimson 1974 festeu(3) Drive Theory Drive Theory is an expansion of Freuds Instinct Theory put forward by Clark Hull (1948). Freuds Instinct Theory was originally named the drive theory but was later re-named. (Model, 2005). Hull concluded that motivational behaviours derive from one of four drives: sex, hunger, thirst and pain avoidance. A drive occurs and provides energy for action Hull (1938) cited in (Model, 2005). Hulls theory creates a link between instincts or drives and behaviour. According to Hulls theory, as these drives occur, such as hunger, we become motivated to reduce these drives to zero in this case by eating. This is the first theory that implies extrinsic motivation. (Model, 2005). Flaws observed within Hulls Drive theory came to light as better understandings of arousal and its effects on people came to light. Arousal will be discussed further in the next chapter Factors That Affect Motivation in Sport. Hulls Drive Theory also did not take into account of the differing levels of motivation between different tasks and individuals. (Silva III Stevens, 2001) Maslows Hierarchy of Needs Self Determination Theory The Self Determination Theory is a model of human motivation that stems from the innate needs for competence, autonomy and relatedness within the environment. It provides an over-riding framework for intrinsic and extrinsic motivation. (Baldwin Caldwell, 2003) The Self Determination theory proposes that these psychological needs and the social environment will determine one of many motivations. Each motivation can have varied effects on our thoughts, behaviours and feelings. These motivations fall along a continuum and are all connected to each other (Deci Ryan, 1985) cited in (Model, 2005) Self Determination Theory (cooke, Fielding).pngCited in (Cooke Fielding, 2010) As the scale above displays, motivation can be divided into six different forms from intrinsic motivation at one end of a scale to extrinsic motivation at the other end (Deci Ryan 1985) cited in (Baldwin Caldwell, 2003). Amotivation refers to no motivation at all. (Baldwin Caldwell, 2003) describe it as a way of describing behavior which is neither regulated or intentional. Extrinsic Motivation Extrinsic motivation refers to engaging in an activity as a means to an end and not for its own sake (Vallerand Fortier, 1998) cited in (Moran, 2004, p. 40). It can be separated into non-internalised and internalised, as displayed in the diagram above. Internalised forms of extrinsic motivation carry some intrinsic factors contributing towards behavior but the primary reasons are still external. External Regulation External regulation is the most extreme form of extrinsic motivation. (Baldwin Caldwell, 2003). This refers to the doing of an activity solely to satisfy external demands such as for a reward or to avoid punishment. Introjected Regulation Introjected regulation is based on self controlled, ego orientated behavior that is usually driven by what others may think. Introjected motivation is not autonomous but rather externally focused behavior usually carried out to avoid guilt of anxiety or to maintain status or feelings of self worth. (Baldwin Caldwell, 2003). Identified Regulation Identified regulation has elements of intrinsic motivation but behavior is undertaken for primarily external reasons. (Baldwin Caldwell, 2003). An example of this is cross-training in sports. Windsurfers may partake in other exercises such as running or cycling not for the enjoyment but to maintain or increase fitness for windsurfing. They may enjoy the running or cycling but this is not their primary reason for participation. Integrated Regulation Integrated regulation is the most autonomous form of extrinsic motivation. A person carries out this behavior because it represents what they stand for. This can be demonstrated amongst volunteers for non-profit organisations. They carry out behavior for external rewards often with little compensation or direct benefit to themselves. Intrinsic Motivation Intrinsic motivation refers to peoples reasons for undertaking an activity for itself and the pleasure and satisfaction derived from participation (ibid., p.390) cited in (Moran, 2004, p. 39). This can also be described as the pursuit of an activity that one finds interesting and is engaged in for the inherent satisfaction derived from participation. (Baldwin Caldwell, 2003). Factors that Affect Motivation and Participation in Sports This section will observe the varying factors that encourage or discourage participation in sport or physical activity as a whole. It will draw on information gathered from the previous chapter and relate them directly to sport using research already carried out in the area of motivation in sports (5 buzz junkies) (8 understanding participation in sports) (The Art of Healthy Risk Taking) Motivation in Outdoor Activities This section will attempt to further explore the area of motivation towards the area of outdoor activity. It will explore motivational factors in various areas and various sports that draw from the natural environment to provide a medium to undertake the specific activities. It will also draw on research already carried out in this area to attempt to develop a greater understanding of any consistencies or in-consistencies in this area. Arousal (5 buzz junkies) (The Art of Healthy Risk Taking)(festeu 4) Risk Taking Nature and risk in adventure sports Philosophy, risk adventure sports Is Windsurfing an Extreme Sport? Windsurfing is commonly regarded as an Extreme sport however this term may be misleading. This label was attached to various alternative sports by the media originally in North America in an effort to attract the more lucrative teenage audience. (Dant Wheaton, 2007). The term High Risk is now commonly used by researchers in the field of these sports in place of the term extreme. It can be observed that the majority of windsurfing practised by most windsurfers cannot be described as high risk due to the fairly low risk of injury. (Dant Wheaton, 2007). It is important to remember that the more hazardous conditions attempted by many windsurfers by entering the seas in winds upwards of gale force and large swells still constitutes a high risk environment to enter. With this in mind, windsurfing can only really be described as a high risk sport when undertaken in such adverse conditions that if gear failure or rider error were to occur, self rescue would be close to an impossibility. This section will examine risk taking both real and perceived in the area of motivation and attempt to create an understanding of how this may alter individuals attitudes towards general activities and then specifically high risk sports. (The Art of Healthy Risk Taking) (To the Extremes out of the gene pool) What is even stranger is that some people go beyond being observers and take real risks, and expose themselves to real harm of 2 DANGER one kind or another, and that they do so completely voluntarily. Why do people, of their own free will, participate in such activities as sky diving, mountaineering, bungee-jumping, white-water rafting, big wave surfing, pot-holing, base jumping, cave diving, and hang-gliding? In this respect, it is interesting that new forms of voluntary risk are continually emerging or being invented in different parts of the world, and this seems to have been particularly true in the last decade or so. (Danger quest for excitement) Environment This section will examine how the natural environment can affect attitudes and motivation towards participation in activities. (To the Extremes out of the gene pool) (6 Environmental Factors) Gender Differences in Motivation (5 buzz junkies) (13 where have all the windsurfers gone) Windsurfing as a subculture rather than a sport Windsurfing is part of a group of activities born during the counter-culture movements of the 1960s Midol (1993) cited in (Wilkinson, 2010), (Dant Wheaton, 2007). Other activities in this catagory include skateboarding, snowboarding and the resurgence of surfing. As Belinda Wheaton (2003) Does Windsurfing require a different motivational pattern to other sports? Sport commitment of windsurfers Sports Motivation Scale Free Time Motivational Scale Sport Commitment Model Sport commitment of windsurfers (2) Research Questions

Forty Years in the Wilderness Essay -- Personal Narrative Nature Essay

Forty Years in the Wilderness Clouds of dust billowed behind our jeep like a filthy veil. Scrawny boys in underwear left their jacks to chase us. Seconds later, they trailed off calling "gringos." A bachata blared in the distance as we pulled up to the palm hut that doubled as a ranger station. Two shirtless rangers leaned against grimy cases displaying ceramic idols and shards of bowls. Sitting around over cups of steaming coffee, one ranger amused us with cuentos while Mom bartered with the other for a guide. Crabs scurried across the trail. My family and I tromped behind the ranger, eager to see caves decorated by Taino Indians. We were confident that this hike into a National Park would be an exciting challenge like our vacations in previous years to other forests in the Dominican Republic. Partially buried coconuts and fragments of brain coral created an obstacle course to scramble over on our way to the caves. James and Sarah raced ahead of the guide, while David and I meandered behind looking for lizards. Grandma won at "I spy," spotting tropical birds and brightly colored orchids dangling in the canopy quicker than any of us. Prickly underbrush and cacti engulfed the path in a sinister tangle. When we stopped for a drink, Grandpa grabbed a cactus to steady himself. His face contorted into a grimace as blood channeled between wrinkles and spines on his hand. Using my sleeve, I gently wiped Grandpa's hand and wrapped it in a handkerchief to stop the bleeding. We hiked on in silence, s hattered only by chattering parrots and humming wasps. The trail fed into the gaping mouth of a cave, surrounded by razor sharp stalactite and stalagmite teeth. We sprawled on damp boulders, munching on peanuts and hesitantly shinin... ... gone for six hours but it felt like years. Grandma carefully measured out even amounts of water from the thermos for each of us to wet our parched throats. When we piled into the jeep, it reeked of sunscreen, insect repellant, and body odor. Ignoring her usual rules, Mom let us hang out the windows as she sped to the nearest colmado. We sat in the shade of an almendra tree and guzzled a crate of pop and a five-gallon drum of water. I could smell hot grease from the corner fried foods stand, but the thought of food turned my stomach. All I wanted was to drink until I felt I might burst. Back at our cabin, I raced to the only bathroom and slammed the door. I stepped in the shower with my clothes still on and let the cool water pour over my body in an overwhelming sense of relief. The only coherent thought I could form as I stood there was: "Thank you God for water."

Financial Analysis of Amazon.com Inc.

This paper seeks to analyze the financial statements of Amazon. com Inc. for the years 2005, 2006 and 2007 by interpreting its profitability, liquidity, leverage and activity ratios and comparing the same with industry averages. This will also analyze the company’s growth rates, valuation ratios (price) and dividends and will employ horizontal and vertical analysis in process as needed. 2. Analysis and Discussion 2. 1 Profitability Return on equity of Amazon. com Inc. shows many things about the past performance of the company in the past five years.The continued decrease from 2005 through 2007 appears noticeable but the rates are still very high. . From 145. 93% in 2005, it has hugely decreased to 44. 08% in 2006 and further to 39. 77% in 2007. Such level of profitability is still very for purposes of determining a company’s profitability. Compared to industry average of 24. 9%, the company’s ROE is still higher. See Exhibit I in the Appendix. The range of 39% t o 145% return on equity encourages investors as it would mean that for every $100 investment, the investors expect returns of about $39 to $145. These rates could be viewed as something unprecedented for a company like Amazon.com Inc.. Its level of ROE is something that must be the envy of many other companies such as EBay Inc. , Enable Holdings and Friendly Auto Dealers, Inc (Yahoo Finance, 2008). It may be noted that return on equity is solved under the formula where net profit is divided by the total stockholders equity. When compared to an average rate of 1. 5% US base rate (Housepricecrash, 2008 ) if money was invested in a bank, the company’s would seem to offer more than twenty fold and it is something very difficult to find and would therefore make it very attractive to investors.The company’s return on assets for the years 2006 through 2008 ranges from 4% to 9% and which appears to be obviously lower that its ROE. The same may be observed in relation to the co mpany’s net profit margin for last three years and has not even exceeded 5% in any period. However, ROE must be superior in declaring the profitability of Amazon as compared to all other profitability ratios. Operating margin which measures within the range of 3 to 5% for the three years, represents the margin after deducting cost of sales or services and operating expenses.Things to be added or deducted still are other income(s). The ratios mean that the management of Amazon. com Inc. is doing well that it must thank its employee’s participation of employees in delivering value to customers. The net margins of the company for the three years are lower than operating profit margin, due to the additional deductions of interest expenses. The profitability ratios such as return to equity, operating profit margin and net profit margin have the capacity to show historical profitability but investors would base also their decision on estimates of the future.Since conditions change, wise users of financial information may just give more values to estimated cash flow in the future for valuing their investments in terms of dividends to be received from the company. This appears to be found in the case of Amazon as proved by high debt equity as would be discussed later in relation to its profitability. 2. 2. 2 Liquidity Liquidity enables a company to meet its currently maturing obligations. It is measured using the current ratio and the quick asset ratio.Current ratio calculation uses current assets to be divided to current liabilities while quick assets ratio is almost the same except that the inventory and prepaid expenses are being removed from the current assets to have a new numerator but the denominator is the same. Quick assets therefore normally include cash, marketable securities and accounts receivable and the use of quick asset ratio is very much relevant for one intending to have higher form of measuring liquidity. In such case, one would prefe r quick asset ratio over that of the current ratio.As applied now, the current ratios of Amazon. com Inc reflected 1. 39, 1. 33 and 1. 54 for the years 2007, 2006 and 2005 respectively while the quick asset ratios for same years are 1. 02, 0. 95 and 1. 19 for the same years respectively. See Exhibit I in the Appendix. Both ratios showed fluctuating trend where decreased was first noted and then increase followed after. The company’s liquidity may be considered to be still very high since current ratios average more than 1. 3 while quick asset ratio averages about more than 1.0 for the last three years. It current ratio for 2007 is very close to industry average of 1. 8 while its quick ratio of 1. 02 is not very far from industry average of 1. 6. Both its liquidity ratios are better when compared with S&P 500 index. See Exhibit I in the Appendix. The good liquidity appears to be a result also of good profitability of the company as observed earlier in terms of very high return on equity. 2. 2. 3 Leverage ratios Financial leverage or solvency refers to the company’s capacity to keep it stability over the long term.Generally measured by the debt to equity ratio, with the formula of having the total debt of the company divided by its total equity; a good financial leverage assures investors that the company is not to just to exist in the short term but it must also have a long life to recover long term investments which takes years to produce the needed returns. The debt to equity ratios of Amazon. com Inc. are 4. 42, 9. 12 and 14. 02 for the years 2007, 2006 and 2005 respectively. These ratios are however not as good as industry average of 0. 32. See Exhibit I in the Appendix .The ratios are indeed very high since the ratio of more than 4. 0 means that the value the company investments is not matched by what it borrows by about more than 400%. Remarkable Improvement were however recorded from 2005 through 2007. This must be due to its very high prof itability. This could mean that the company is expanding business as noted its net fixed assets reflecting growth rates of 25. 06%, 22. 53% and 67. 91%, the years 2007, 2006 and 2005 respectively. See Exhibit I in the Appendix. In other words, expansions are getting financed hugely from operations which is a sigh of a healthy company.Good solvency is a proof of good capital structure and for Amazon. com Inc. the same could be attainable as shown in the very remarkable improvement if its debt to equity ratio which cut more than half that on 2006 in 2007. Given also its very good liquidity as analyzed earlier, the company must be declared to have clean bill of health in financial terms. 2. 2. 4 Efficiency ratios The company’s profitability is being supported by its good efficiency ratios. Inventory turnovers for three years are very much higher than industry average and such efficiency is indicative of its better performance than competitors.Even its collection period and recei vable turnover are definitely above industry and S&P 500 index. No wonder the massive improvement in leverage ratio for two years is more than justified. 3. Conclusion Amazon. com is growing very remarkably in term of revenues, fixed assets, and net income. The increase in net income of more than 60% in 2007 is not easy to disregard and the fixed assets growth averaging more than 20% for the last three years could only mean an expanding company under a very favorable condition in the industry.Its profitability ratios, liquidity ratios, leverage ratios and activity ratios are very favorable to the company. Its profitability is sustaining not only its liquidity by keep improving is highly leverage financial condition. Although, 2007 liquidity and leverage ratios are not as good as industry averages, the chance that they could be improved soon by company’s profitability is very big given its higher than industry average ROE for the last three years. The activity ratios in terms of inventory turnover and receivable turnover in 2007 are higher than industry average which could only support for the company’s very high profitability.

Pollution affects the health of all living thing. Essay

Many peoples, animals and plants depend on water for survival of life but because of water pollution all living things must suffer or die from the effects caused by water pollution. Man is busy inventing new things every day and the consequences of these inventions affect the land, air and stream and causes water pollution. Some of the causes of water pollution are industries trying to fulfill the need of consumers by inventing new products and creating jobs for people. Another cause of water pollution is the chemicals that people use on their lawns and gardens. Water pollution can also be caused by land movement, avalanche and erosion from the weather. Animal also causes water pollution but they are unaware that they are actually causing pollution to the stream, rivers and lakes. The effects of water pollution in our stream, lakes and ocean have a huge impact on the living creatures that uses the water for their habitat. When the beaches and lake are polluted, tourists do not spend time to visit there, animals also die from consuming garbage. Another effect of water pollution is the cause of an oil spill in the ocean which has a huge impact on the living creatures and wild life that uses the polluted water. It is important for individual living in this planet to prevent water pollution. The planet is very precious for all it living thing. People have to use the planet resources carefully, and prevent water pollution to it streams, lakes and rivers. We all share this plant it earth, air, land and water. When one of these characters of the planet is affected it also affects another. One can use water People can purchase items that they need and not want. They can reuse and recycle items that are useable. One can use organic material in their gardens and lawns. Farmers can reduce the use of chemical in their crops. One can walk, bike or use transit to get around. Individual should not put sediments, nutrients, toxic chemicals, pathogens in water. These are some of the thing people can do to prevent water pollution.

Free Essays on Total Institutions In Full Metal Jacket

Total institutions in Full Metal Jacket A total institution is a place in which people are cut off from the rest of society and are almost totally controlled by the officials who run the place. There are seven procedures that separate a total institution from a regular institution. The procedures are: initiation, creating the helplessness of infancy, destroying the person’s previous sense of identity and self respect, mortification and degradation, disorienting experiences, depersonalization, and powerlessness. Stanley Kubrick’s Full Metal Jacket displays a perfect example of a total institution. The movie encompasses all of the characteristics of a total institution. The first is the initiation process, the process of initiation, is where the subjects are cut off from the outside world. In Full Metal Jacket the privates are taken to â€Å"the island,† where they have no contact with the outside world, only each other. This is evident because they all live together and do everything together; there is no contact with anyone other than their drill sergeant. The purpose of the initiation process is simply to setup the next procedure, creating the helplessness of infancy. When you create the helplessness of infancy, the people become totally dependant on those in charge. Since the marines have been isolated, they are forced to rely on their drill sergeant. In the movie, the drill sergeant controls all of the privates; they can do nothing without his permission. The drill sergeant tells them exactly what they will be doing and when to do it. For instance, he tells them when to go to bed, pray, and turn off the lights. The next procedure is to destroy the person’s previous sense of identity and self respect. In this step, it does not matter who you were before, or how important you were, everyone is taken down to the lowest level and reduced to a childlike state. To do this, the drill sergeant in Full Metal Jacket does several ... Free Essays on Total Institutions In Full Metal Jacket Free Essays on Total Institutions In Full Metal Jacket Total institutions in Full Metal Jacket A total institution is a place in which people are cut off from the rest of society and are almost totally controlled by the officials who run the place. There are seven procedures that separate a total institution from a regular institution. The procedures are: initiation, creating the helplessness of infancy, destroying the person’s previous sense of identity and self respect, mortification and degradation, disorienting experiences, depersonalization, and powerlessness. Stanley Kubrick’s Full Metal Jacket displays a perfect example of a total institution. The movie encompasses all of the characteristics of a total institution. The first is the initiation process, the process of initiation, is where the subjects are cut off from the outside world. In Full Metal Jacket the privates are taken to â€Å"the island,† where they have no contact with the outside world, only each other. This is evident because they all live together and do everything together; there is no contact with anyone other than their drill sergeant. The purpose of the initiation process is simply to setup the next procedure, creating the helplessness of infancy. When you create the helplessness of infancy, the people become totally dependant on those in charge. Since the marines have been isolated, they are forced to rely on their drill sergeant. In the movie, the drill sergeant controls all of the privates; they can do nothing without his permission. The drill sergeant tells them exactly what they will be doing and when to do it. For instance, he tells them when to go to bed, pray, and turn off the lights. The next procedure is to destroy the person’s previous sense of identity and self respect. In this step, it does not matter who you were before, or how important you were, everyone is taken down to the lowest level and reduced to a childlike state. To do this, the drill sergeant in Full Metal Jacket does several ...

German SMS Abbreviations Explained and Translated

German SMS Abbreviations Explained and Translated We used to be the kinds of people who vowed to never â€Å"butcher† the written language, be it German or English when it came to e-mailing and texting. That was a few years ago. Now, we must admit, having seen so many abbreviations, we have joined countless others, in typing at least the more common abbreviations. Germans, as you may have guessed, use some English SMS, but fortunately, German SMS abounds as well. Why not try to impress a German friend with some SMS German texting? Just be sure of thing - please don’t forget how the words really are spelled†¦ 8tung Achtung – watch outads alles deine Schuld – all your faultakla? alles klar? – everything o.k?aws auf Wiedersehen – good byebb bis bald – see you soonbda bis dann – till thenbidunowa? Bist du noch wach? – Are you still awake?braduhi? brauchst du Hilfe? – Do you need help?bs bis spter – till laterdad denke an dich – thinking of youdiv danke im Voraus – thank you in advancedubido du bist doof – you are dumbff Fortsetzung folgt – to be continuedg grinsen - smirkgk Gruß und Kuss – hug and kissgn8 gute Nacht – good nighthdl hab dich Lieb – love youhegl herzlichen Glà ¼ckwunsch - congratulationsild ich liebe dich – I love youjon jetzt oder nie – now or neverlg liebe Grà ¼ÃƒÅ¸e – heartfelt regardsmamim a mail mir mal – e-mail memumidire muss mit dir reden – have to talk with youn8 Nacht - nightnfd nur fà ¼r dich - o nly for youpg Pech gehabt – bad luckrumian ruf mich an - call mesfh Schluss fà ¼r heute- enough for todaysiw soweit ich weiß- as far as I knowsz schreib zurà ¼ck – write backvlg viele Grà ¼ÃƒÅ¸evv viel Vergnà ¼gen – lots of funwamaduheu? was machst du heute? – What are you doing today?Waudi warte auf dich – wait for youWe Wochenende - weekend

Analysis of Argentina Balance of Payments

The economic situation of Argentina was interesting between 1998 and 2007. However, it can be assumed that the worst year of the Argentinean economy was 2002. Before 1998, some factors such as a huge debt reaching 55% of the GDP, a currency pegged to the US $, the â€Å"Tequila† crisis in 1995, the devaluation of Mexican and Brazilian currencies, were responsible of the crisis Firstly we compared trade and GDP, to obtain the trade openness ratio. It increased strongly in 2002, due to a high increase in trade (133% 2001 to 2002) compared to the GDP that declined 11bp. The relatively high level of trade openness registered in 2002: 10. 08%, is based on the steep drop in imports 56%, related to the peso devaluation. As the peso stabilized and GDP undertook an ascending trend trade openness bounced back to low level again. Secondly, the balance of payments of Argentina can be analyzed in order to compare the exports to the GDP. The trade index of the country is under 20% until 2005, which is lower than the Global Trade Index at this time (30%). Nevertheless, it increased to reach a better level in 2007 (25%). For the valuation of the liquidity level, we compared the reserves to the imports, in volume and number of days. Since 1998, it is decreasing, sharply in 2001 and 2002, then recovering a better level between 20% and 30%. Therefore we can not consider that 4 months of reserves to be sufficient for maintaining a good level of liquidity, it’s a bit lower than the 6 months objective. In 2006, reserves influenced by the crisis in Mexico, dropped to 10%. To assess the debt service, we assumed a 5% interest rate, applied to interest payments and exceptional financing. Debt declined in terms of export multiplies especially due to the rise in exports and not to reimbursements. The highly indebted Argentina actually resorted to IMF financing and additional loans in 2001, when confronted with $3bn capital flight. Fluctuating between 900% in 1998 and 380% in 2007, the debt service ratio, far away from the optimal level of 33% , clearly emphasizes the state’s debt burden. The interest ratio is high, but still decreasing jointly with the debt, reaching a sane level below 0,25 in 2006 and 2007. Still this figure is actually deceiving, the interest ratio plunging due to ascending exports and not decreasing debt service. All liquidity indicators point out to a disappointing position for Argentina, still the reimbursements made in the recent years and the IMF account clearing entice improvements at this level. We can notice a huge change, in the current account since 2002. The negative current account which lasted for several years, had been replaced by a positive one in 2002. This change was attributable to the big decision of switching from a pegged currency (to the US$), to a floating currency. Consequently, the Argentinean peso was devalued. On a current account view, this means less imports, and an increase of the exports. Actually the volume of the exports didn’t take off the day when the decision of devaluating the Argentinean peso, but 2 years after. This phenomenon could be explained by the J curve theory. 2001 was a turning point in the history of Argentina. Forecasting the devaluation of the peso, investors revised their position towards the Argentinean market, foreign direct investment dropping by 80% from 2000 and 2001. This way FDI decreased drastically its role as a financing source (before 2001, Argentina was financing between 5 and 10% of its debt by the Foreign Direct Investment). Faced with such a drastic cut in foreign direct investment and portfolio investment, Argentina issued additional debt worth $ 10 bn. Over the last ten years Argentina experienced serious turbulence in its financial position that has negatively impacted its state rating and fuelled even more financial distress. Still, in recent years, rescue came and it was in the form of economic growth. This restored investors’ confidence, translating into higher absolute FDI inflows, and allowed for debt restructuring. With an outstanding debt of $6 bn towards the Venezuelean government, obligations of $ 500 m in the international debt market and a state rating of B (Moody’s), any investment in the Argentinean market will carry high risk that might not necessarily be offset by a high return. For the time being, we recommend not investing in Argentina.