Four (or Five!) Reasons Why

…You Shouldn’t Stand In Line For New Products

1. In the current environment of mass production, it is extremely rare for a product to sell out and never get restocked, even for luxury and “exclusive” goods. Is it really worth standing in line for hours to be the first among your friends to get your hands on something? Are you admired because you are the first on the block with the new gadget or Harry Potter book? (Yes? Maybe it’s time for some new friends.)

2. Prices drop quickly, especially when it comes to technology. Yes, prices always fall over time as technology becomes outdated. But in many cases, manufacturers drop prices fairly soon after launch, much to the chagrin of early adopters. Mmm…anyone remember the iPhone, Razr or the Zune?

3. Bugs. New products always have lots of bugs, especially when the manufacturer is breaking new ground. The best thing to do is to wait for service packs, patches and fixes to be integrated. User groups, forums and wikis also supply a wealth of information to solving issues with new products.

4. You never know what’s going to become the standard. While a product launch can generate a lot of excitement and hype, it doesn’t always guarantee that success or survival. For example, when the iPod launched there was no indication that it would be the player of choice. Think of the economy of accessories, hacks and add-ons surrounding the iPod. Now think of Creative’s Zen player. Mmm…

5. Lining up can be bad for your health, as was the case with the PS3 and Halo 3.

For a good summary on how long to wait before you jump into buying new consumer electronics products, click here.

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….You Should Get a Dog

1. A dog could save your life. Think of all the stories about a beloved family dog frantically waking up his masters to warn them about a raging fire. You ever hear anything about a cat meowing loudly to save the day? The only time cats make any noise is when they’re hungry or in heat.

2. Having a dog is a great way to get some exercise given they need to be walked several times a day. It’s impossible to walk a cat or a rabbit, although I have seen some people try - and it’s not a pretty site. Of course, dogs often need to go for a walk at 6 a.m., which can be a killer in the middle of winter when it’s dark and freezing outside.

3. Dogs are good company. They’re overjoyed when you come home from work; they’ll listen to you and do stuff when you tell them. So what if this behavior is entirely predicated by the possibility of a snack being delivered.

4. Dogs come in all shapes and sizes so you can pretty much get one that exactly fits your needs. There’s no way you can say that about a cat, rabbit or fish. Mind you, everyone wants a big dog because they make you feel safe without realizing that big dogs eat lots of big meals and require big walks.

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…Home Ownership Is Not A Savings Strategy

1. While even turkeys fly in a strong wind and a housing boom makes every home owner look smart, economists have shown that houses generally cost more than what most people make when they sell. In addition, the gains don’t match watch can be earned through long-term stock ownership.

2. When you add up interest, insurance, regular maintenance and a couple of costly repairs that are inevitable, a home owner can spend up to three times the purchase price of a house over the life or a mortgage. Look at the Cost of Home Ownership here.

3.Over half of monthly payments go to covering interest during the first half of the term. More so, over the first five years of a mortgage, it is almost all interest. What this means is that if you sell your home early in the term of your mortgage, little money is made as ittle equity is built.

4. Home owners often pay more for a house than they can afford, resulting in large mortgage payments and little ability to diversify their investment outside of home equity. Furthermore, with companies freely offering low-deposit mortgages, buyers are often deluded into thinking that they can afford to buy a bigger house than what fits their budget. As Suze Ormon notes, “Never forget that it is one thing to buy a home, but it is another thing to be able to keep that home.”

For a nice summary of key myths surrounding home ownership versus renting, click here.

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….It’s Good to Be Canadian

1. It only took 31 years but the Canadian dollar is finally close to being par again with the greenback. Hello, cross-border shopping! Hello, exchange rates that aren’t embarrassing anymore!

2. Canada has an abundance of wood and oil - two commodities in strong demand, particularly fast-growing countries such as India and China. All we have to focus on now is keeping everyone away from our water, especially those drought-stricken Americans.

3. The NHL’s 2006/07 season is just a few weeks away. It’s the sign that summer is over, and that we can now retreat to our home entertainment centres to watch hours of sports.

4. We may have the annoying Avril Lavigne but she’s an angel compared with Britney, Lindsay, Hilary, etc.

More: It’s weird when you take pride in a beer commercial but Molson’s “I Am Canadian” ad continues to prompt people to break into “Oh Canada”. And if Canadians ever need a pick-me-up, Paul Henderson’s game-winning/series-winning goal during the 1972 Summit Series always does the trick.

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…”Made in China” = “Buyer Beware”

1. Poor production management. As the saying goes, “You get what you pay for,” and cheap goods often mean poor production quality. Cheap price = short life!

2. Poor quality management. A recent report from General Administration of Quality Supervision, Inspection and Quarantine, China’s standards watchdog, notes that 20% of tested domestic products failed to meet safety standards. More so, a report issued in July by Senator Charles Schumer indicated that 60% of goods recalled by the U.S.’s main safety regulator came from China.

3. Poor labour management. While the cost of living in China is lower than in North America and Europe, the wages earned by Chinese labour wage are significantly lower in relative comparison. The China Labour Watch’s report on toy manufacturers showed the continued existence of poor working conditions and below-mandated wages. More shocking that this is in light of minimum wage being a paltry US$91.68 per month in Shenzhen, an area significant toy manufacturing.

4. Poor environmental management. With a “growth first” strategy in place, China has inflicted a lot of damage on the environment, from smoggy cities to water shortages. We should all feel sorry for the upcoming Olympians who will have to suffer through some pretty crappy conditions.

While “Made in Japan” and “Made in Korea” used to hold equal suspicion with consumers, it is obvious that China needs to pick up its game. For more, click here, here and here.

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