Why you shouldn't trust analysts unconditionally

11 April 2007
International Monetary Fund
http://www.guardian.co.uk/business/2007/apr/11/globaleconomy

"All of you have heard or read about the slumping US housing market, problems in sub-prime mortgages, bankruptcies and foreclosures, and more recently, softening business investment - much of the news has not been good," Johnson said at a press conference to launch the WEO.

"And you might ask if the US sneezes, won't the rest of the world catch a cold?

"This is a key risk to the outlook, and a timely question that we have looked at extensively in this report. Our bottom line view is that while the US may have sneezed, it appears to be a mild sneeze thus far, and not likely to spread."

1 October 2007
International Monetary Fund
http://www.forbes.com/markets/feeds/afx/2007/10/01/afx4173610.html

PARIS (Thomson Financial) - IMF managing director designate Dominique Strauss-Kahn said the US subprime mortgage crisis is unlikely to have a dramatic impact on world growth.

'The US mortgage crisis will certainly have some effect on growth. But I do not think that these effects, as far as we can measure them today...will be dramatic for growth,' he told a news conference.

He said the crisis now seems to be under control, even if it is not yet resolved, he said.

The outlook for world growth remains solid, with emerging economies continuing to grow strongly, he said.

1 October 2007
Alan Greenspan
http://www.forbes.com/markets/feeds/afx/2007/10/01/afx4174433.html

LONDON (Thomson Financial) - The former Federal Reserve chairman Alan Greenspan suggested here Monday that the global credit crisis triggered in August might be coming to an end.

Addressing business leaders, Greenspan said: 'Is this ... credit crisis about to be over? Possibly.'

30 October 2007
US Treasury Secretary Henry Paulson
http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2007/10/28/international/i042634D89.DTL&type=politics

U.S. Treasury Secretary Henry Paulson said Tuesday that the American economy is strong enough to overcome the trouble in the country's housing market although the subprime mortgage crisis may take longer than expected to resolve.

"We have a very strong global economy. We have a strong U.S. economy," Paulson told a meeting of business executives in New Delhi. "Most parts of the capital market are functioning normally."

7 April 2008
International Monetary Fund
http://www.irishtimes.com/newspaper/breaking/2008/0407/breaking50.htm

Government intervention at a worldwide level is needed to address the credit crisis, the head of the International Monetary Fund said today.

"I really think that the need for public intervention is becoming more evident," IMF Managing Director Dominique Strauss-Kahn told the Financial Times in an interview.

Mr Strauss-Kahn said the credit crisis was far more than an American problem. "The crisis is global," he said. "The so-called decoupling theory is totally misleading."

Developing countries such as China and India would be affected, the paper said.

He added that the IMF this week will revise down its global economic forecasts to below the current private and official consensus.

April 2008
Asian Development Bank
http://www.adb.org/Documents/Books/ADO/2008/

A key message of ADO 2008 is that, although problems will spread from the global economy to developing Asia—a process that is already visible in high-frequency trade and financial data—the region's growth in 2008 is much more likely to moderate than to lurch down. Developing Asia is not immune to global developments, but neither is it hostage to them. In the near term, Asia's structural transformation, robust productivity growth, and favorable policy climate will continue to support healthy growth. The outlook for credit may well tighten, but the regional financial system—which is still mainly built around bank credit—should be largely insulated from the huge deleveraging now under way in the US.

18 May 2008
Deutsche Bank
http://economictimes.indiatimes.com/articleshowarchive.cms?msid=3051430

FRANKFURT/GERMANY: Josef Ackermann, the chief executive of Deutsche Bank AG, said on Sunday that he believes the global credit crisis is drawing to an end and that financial markets are in no danger of collapsing.

30 July 2008
HSBC
http://www.channelnewsasia.com/stories/economicnews/print/363847/1/.html

HONG KONG: Global banking giant HSBC has dismissed fears of a global credit crisis having a large impact in Asia. It said that overall, Asian economies remain robust, thanks to strong domestic demand.

25 September 2008
Australia & New Zealand Banking Group
http://www.bloomberg.com/apps/news?pid=20601081&refer=australia&sid=aKP3xO.9SKy0

Sept. 25 (Bloomberg) -- Australian banks are ``looking very strong'' amid the global credit crisis, said Mike Smith, chief executive officer of Australia & New Zealand Banking Group Ltd.

September 2008
Asian Development Bank
http://www.adb.org/Documents/Books/ADO/2008/update/default.asp

Events in the first 8 months of 2008 suggest some major changes in the external environment affecting the assumptions made in April when Asian Development Outlook 2008 was released. The slowdown in the G3 (United States, eurozone, and Japan) is now seen continuing until the end of 2009. As a result, growth in the volume of world trade will slow. Both food and fuel prices, which have surged this year, are forecast to come down but will remain higher than in 2007 for the rest of this year and next. With the continuing turmoil in financial markets, the cost of new capital will become higher, and access harder, for developing Asia.

In addition to the regional slowdown in growth and jumps in inflation, current account surpluses are diminishing and deficits are widening. Currencies are depreciating, putting upward pressure on inflation. Another danger is that although central banks have begun to tighten monetary policy, some may have let the inflation genie out of the bottle by doing too little, too late, since interest rates in most countries are still lower than inflation.

4 November 2008
The Earth Times
http://www.earthtimes.org/articles/show/239991,global-credit-crisis-sinks-australias-allco-finance.html

Sydney - Australian banks Tuesday pulled the rug from under debt-laden local leveraged buy-out specialist Allco Finance Group. Receivers were appointed for Allco and its shares placed in a trading halt after talks with the 12 banks failed to reach agreement on a repayment schedule for debts of 667 million Australian dollars (446 million US dollars).

4 November 2008
Morningstar
http://www.morningstar.ca/globalhome/Industry/News.asp?Articleid=ArticleID113200814341

Investment funds in Canada had one of their worst one-month performances in a decade in October, as investors around the world sold off equities and flocked to the safety of U.S. Treasury bills. All but four of the 43 Morningstar Canada Fund Indices suffered losses in October, including 20 indices that lost more than 10%, according to preliminary performance data released today by Morningstar Canada.

6 November 2008
Australian Treasurer Wayne Swan
http://www.canberratimes.com.au/news/local/news/general/credit-crisis-smashes-40b-hole-in-budget/1353273.aspx

Unemployment is tipped to rise to 5per cent by June 2010, with inflation predicted to fall to 3per cent next financial year. Unemployment figures are to be issued today, with economists expecting a rise from the current level of 4.3 per cent.

Treasurer Wayne Swan said, ''The global financial crisis has smashed a $40billion hole in the budget.''

ANZ senior economist Mark Rodriguez said it expected Government revenues to deteriorate further because of optimistic assumptions in the mid-year forecasts.

Who do we trust now?

For a good overview of the global credit crisis and why it came about, go to Anatomy of a global credit crisis by The Independent.

My numerology reading

Your Life Path Number is 8

Your Life Path Number represents the path you should take through life and the talents and skills you have to make your journey a rewarding one.

You were born to lead and your Life Path will provide you with opportunities to express your God given talents. You will have to learn how to be an effective leader without becoming dictatorial. Success seems almost unavoidable for you, but it may not be in the form of finances. Indeed, your success may well be measured in terms of accomplishments, which could take on historical proportions.

Your Life Destiny Number is 5

Your Destiny Number sheds light on those things you must accomplish in your life to be fulfilled.

A 5 Destiny number indicates you will move through life on a stream of change. It is your destiny to explore the limits of your personal freedom and promote free will for all. You will encounter change throughout your life, and where many would see this as instability you will embrace it as the coming of new opportunities.

Your Soul Number is 3

Your Soul Number describes your deepest desires and dreams and the person you truly want to be.

You desire to make people happy, laugh, and be all they can be. You want to create, have fun, and remain ever enthusiastic. You are a lover of life, and will do all you can to ensure those around you are aware of just how grand a gift life is.

Your Personality Number is 11

Your Personality Number reveals the "external you"--the personality traits others will know you by.

You have the Master Number 11 as your Personality Number. Master Numbers indicate nearly complete or complete development of the traits associated with the number they would reduce to. This relation is usually expressed by writing the Master Number and the number it reduces to together. Master Number 11 is often written 11/2. Freedom and responsibility come with having a Master Number. You have the freedom to choose whether to allow your Master Number traits to express themselves or not. If you opt to act responsibly and use your lofty powers, you will find your reward is in the choice itself. If you choose to ignore your talents, you may find yourself taking more than one step back. You may incur a Karmic Debt. Those with an 11 Personality Number are visionaries. They are old souls blessed with an enormous volume of wisdom concerning our spiritual world. They are idealistic, individualistic, creative and extremely perceptive. 11 personalities are always very bright and may well be considered geniuses by those who know them. Intense and having a lust for life on a grand scale, they have seen the mystical side of the universe and liked the view.

Your Maturity Number is 4

Your Maturity Number reveals the person you will come to be--your true self.

You will learn the value of hard work, discipline, and organization in your early years. As you grow older you will contribute to things that are destined to last. In your later years you will have built things of lasting value. You may have some health issues to which you will apply your organizational skills to lessen their effect on you.

Your Balance Number is 9

As long as your life is on an even or uplifting keel balance numbers are relatively dormant. However, in those times when your life is out of order your Balance Number can become central to resolving the turmoil you are experiencing. Your Balance Number reflects the traits you need to bring to the forefront in order the get through difficult periods with the least amount of damage or time wasted on negative influences.

A 9 Balance Number indicates you have the ability to see the big picture when it comes to trouble. While you may be able to see what is truly best for all, you also have a tendency towards condescension and retreat into your own perfect world. Regardless of how you may feel at times, you are no better than those around you. Resolve yours and their problems through leading them towards a fair solution.

The 4 Pinnacles

Pinnacles represent moments in your life in which you realize current goals and learn some of life's lessons. If you are at the beginning of a Pinnacle, then they can be used as a predictive tool to assist in managing your future. Your first Pinnacle begins at birth and last until around the age of 27. Your Second Pinnacle last through the next 9 year and the Third Pinnacle last for 9 years after the Second Pinnacle has passed. Your Fourth Pinnacle picks up where the Third Pinnacle ends and last throughout the rest of your life

Your First Pinnacle Number is 4

You are in a period where you should be building a solid foundation on which to carry on your life. You may be building a home, family or career. Whatever you are doing, it is not a time in which you will or should take it easy.

Your Second Pinnacle Number is 6

A 6 Pinnacle notes a time of love and devotion to friends and family, or possibly the building of a new family after a divorce. During this Pinnacle your energies will be focused on your home-life. You will nurture your loved ones and beautify your surroundings as much as possible. During this Pinnacle that which is in your heart will come to the forefront.

Your Third Pinnacle Number is 1

A 1 Pinnacle indicates a time when you are attempting to become self-reliant and allow your individuality to blossom. This is a time when you may want to seek teachers to assist you on your journey toward independence. If you should have a 1 as your third or fourth Pinnacle, it is likely destiny is grooming you for leadership.

Your Fourth Pinnacle Number is 6

A 6 Pinnacle notes a time of love and devotion to friends and family, or possibly the building of a new family after a divorce. During this Pinnacle your energies will be focused on your home-life. You will nurture your loved ones and beautify your surroundings as much as possible. During this Pinnacle that which is in your heart will come to the forefront.

The 4 Challenges

Challenges denote personal weaknesses and temptations you will have to overcome and strengths you will have to develop to fully realize your goals. The 4 Challenges have the same time frame as the 4 Pinnacles.

Your First Challenge Number is 0

The 0 challenge means the choice of what you do with your life is entirely yours. Yours is an old soul--you've already struggled through all the challenges of the other numbers. Your reward for completing these Challenges is free will. You may face all or any of the challenges of the numbers 1 through 9. You may simply drift through life without a destination or goals. Or you may rise above the struggles of others and use this Challenge period to sculpt a life based on love, integrity, justice and vision. At first glance, this freedom to choose may seem like a vacation, but it isn't. Indeed, the gravity of the responsibility which comes with a 0 challenge is tremendous, because how you choose to address your 0 challenge will profoundly affect the lives of those around you, and, possibly, the entire world.

Your Second Challenge Number is 2

Your Challenge is to learn how to manage your natural sensitivity to others, aversion to conflict and need for harmony in a way that will not repress your own needs. In time you will learn to balance your needs with those of others.

Your Third Challenge Number is 7

A 7 Challenge always marks a very serious period in your life. This period will be marked by intense introspection and the pursuit of spiritual wisdom. Your challenge will be to move through this period of self-discovery while dealing with the isolation such inner journeys often cause. Also you will have to learn to differentiate reality from fantasy.

Your Fourth Challenge Number is 2

Your Challenge is to learn how to manage your natural sensitivity to others, aversion to conflict and need for harmony in a way that will not repress your own needs. In time you will learn to balance your needs with those of others.

The 3 Cycles

Cycles occur in 28 year periods. The First Cycle last from birth through your 28th year and is called your Formative or Seed Cycle. The Second Cycle--your Productive or Fruit Cycle--begins at age 29 and last through your 56th year. The Third Cycle, your Harvest Cycle, begins with the coming of your 57th year and last throughout the rest of your life. Your Cycle Numbers tell you the lessons you must learn and goals you must meet to stay on your Life's Path and achieve your true destiny.

Your First Cycle Number is 11

An 11 cycle is a period of great personal growth and attainment of spiritual knowledge. As they develop, carriers of an 11 cycle will be expected to lead, educate and inspire humankind.

Your Second Cycle Number is 2

If you are in a 2 Cycle you are going to develop at a slow, even pace. Your talents for peacemaking and gentle persuasion will come into play often. Understanding relationships will be your main goal in this period. Should this be your Third Cycle, patience and diplomacy will be the characteristics of this Cycle.

Your Third Cycle Number is 4

This is a time for you to put things in order. You will address many of life's practical concerns during this period. Discipline, order and a willingness to work hard are your greatest allies during this Cycle.

Your Karmic Lesson Number(s) are/is 2 4 6 7

Karmic Lesson numbers reveal areas in which we need to grow. To become more complete, we need to give extra attention to these areas in this lifetime. If one of your 5 core numbers is the same as a Karmic Lesson Number the significance of the Karmic Lesson Number is reduced.

A 2 Karmic Lesson Number indicates a need to learn the art of diplomacy and tact. Try to be more sensitive to the feelings of those around you. Make an effort to learn to work with others as a team.

A 4 Karmic Lesson Number is indicative of a need for direction in life. Although you may feel somewhat confused about why you are here, work to find your true path through this life. The number 4 appears in your core numbers, so the importance of this number is lessened.

A 6 Karmic Lesson Number denotes an inability or reluctance to make commitments. Even when you do commit yourself to something it may be your nature to hold back any true passion for the commitment or relationship. Over time you might do well to slowly allow your passions to express themselves and put your heart into your commitments and relationships.

A 7 Karmic Lesson Number signifies you may be neglecting your innate talents. Whether it is a lack of will or fear of failure, it appears you are not devoting enough time and energy to honing those talents that are core to your being. You know what you are best at, so embrace it.

Your Karmic Debt Number(s) are/is 13

Karmic Debt Numbers signify past abuses of your talents that you must make amends for. Like all of us, you have made many choices and taken many actions in your lives. Some of those choices and actions have been mistakes. Your past errors must be addressed, so you can use your Karmic Debt Numbers to identify exactly what type of mistakes you have made in the past and how you can atone for them.

A 13 Karmic Debt Number implies that somewhere along your being's path you forsake your spiritual self for material gain. You may have abused others to get ahead. Because of your past behavior you may find yourself facing what appears to be one brick wall after another as you try to find success. The key to overcoming these obstacles is perseverance, hard work and the development of a spiritual awareness that keeps you from abusing the rights of others.

Your Lucky Number is 1

Your Personal Lucky Number does not change. This number will be lucky for you your entire life. Your luck derived from this number will be strongest when you are addressing events and issues related to the general meaning of the number. Lucky Numbers should not be relied on to constantly produce positive results, or make impulsive, high risk gambles. They simply mean that where they appear you have an edge. How large an edge is impossible to determine, but seems to increase with the number of occurrences your Lucky Number is be associated with a given event or issue.

Those with a Personal Lucky Number 1 will find their luck derived from 1 strongest when they are facing new beginnings. The 1 will also bring you good fortune when you are in a leadership role. Your 1 may not serve you as well when dealing with established financial or romantic situations.

Your Signature Number is a 1

Signature numbers are based on how you sign your name. Your signature carries the power and the faults of one of the base 9 numbers. You may actually want to sign different documents with different signatures to reap the benefit of a particular number. For instance, if you are signing an agreement of partnership you might want to alter your signature to reflect the powers of the number 2.

The signature you entered is a 1. A 1 signature is good for those involved in an independent enterprise.

Your Birthday Number is 2

This number is most influential between your 28th and 56th year. While it is not the most important number in your profile, it does have an effect on your Life's Path and Destiny.

You understand the need for cooperation and enjoy the company of others. You do well in a group setting and have the ability to maintain harmony within your crowd.

Your Personal Year Number is 5

This number tells you what is happening in your life this year. This number should be used to help you avoid setbacks and focus your energies on those areas of your life where you are most likely to achieve your goals.

You are in a year of change. This is a good time to move in new directions, take a few risks. A 5 year is also a time when your curiosity is at its zenith. Make time to sate your inquisitiveness, travel, and explore interests which you have never made time for before.

Your Personal Month Number is 8

This number tells you what is happening in your life this month. Use this number in the same way you would your Personal year number, but apply it only to the current month.

This is a time for you to take things seriously and ensure all aspects of your life are moving. Make time to be alone and allow yourself to evaluate where your life is going.

Your Foundation Letter is H

Having a H Foundation Letter identifies a creative person who has little fear of risks. Projects and ventures will come and go with you. Some will fail, but many will succeed.

Your End Letter is A

Having an A End Letter denotes someone who is not a quitter. They will finish whatever task they have taken on with or without the help of others.

Your First Vowel is A

Having an A First Vowel suggest you may be far more determined to succeed than you let on.

Interesting. I respectfully agree with 'needing tact'. This is mostly here for me to look back and refer to it whenever I feel like it.

Chinese Calendar Predicts Baby's Gender

Oh my god! I did not know about this! Who knew what Google would throw up when one searches for 'chinese lunar calendar'.

You can choose for yourself whether you want a boy or a girl by following the chart. The woman's age from 18 to 45 (Chinese reckoning) is on the top line while the months 1 to 12 indicate the month when the baby is conceived. By following the chart you will be able to tell in advance whether your baby will be a boy or a girl. Thus, you can plan to have a boy or a girl. This chart has been taken from a Royal tomb near Peking, China. The original copy is kept in the Institute of Science of Peking. The accuracy of the chart has been proved by thousands of People and is believed to be 99 percent accurate.

By reckoning, you follow a line drawn from the figure representing the woman's age to a line drawn from the month the baby is conceived. For instance, if the woman is 27 years old and her baby is conceived in January (according to the Chinese Lunar Calendar), then her baby will be a girl. The chart is based on the month the baby is conceived and not on the birth of the baby, B-Male, G-Female.

Remarks: A Chinese Scientist discovered and drew this chart which was buried in a Royal tomb about 700 years ago.

Source: http://www.holodeck.com/pregnancy/chinese-cal.html

Who knew? However, according to this calendar, both my sisters and myself are supposed to be boys. 99% accuracy, eh?

The Price is Right

I've been reading a lot about the current economy, partly because so much is going on now, mostly because I work in a financial institution. During the course of my readings, I found out a lot about what's driving the Global Food Crisis, which I thought I'd share with you.

Essentially, the high prices of the food that you're seeing whenever you go out is caused by 3 things:

1. The price of oil & the green revolution
2. Global economic growth

The Price of Oil & the Green Revolution

Most people wouldn't think that the price of oil would impact the price of food so much, or that the green revolution could have any adverse impact. The ugly truth is that the Green Revolution may cause thousands to go hungry. Here's how it works:

The input for food is fertiliser. Fertiliser depends on natural gas. The price of natural gas is related to the price of oil for obvious reasons. Therefore, if the price of oil skyrockets, so does natural gas, and so does food.

Another way it works is:

The price of oil affects anything that depends on transportation for its success. Food needs to be transported. Therefore, if the price of oil increases, so does the price of food.

So how does the Green Revolution cause the hunger of a nation? Chew on this:

The Green Revolution promotes the use of biofuels (among other alternatives) as opposed to oil in order to wean the world away from a pollutive way of life and a dependence on a non-renewable source. But what are biofuels?

From Go Green Virginia: Biofuels are any fuel derived from biomass. Agricultural products specifically grown for conversion to biofuels include corn and soybeans

Biofuels are essentially made of food. Corn and soybeans are the staple diets of (to my knowledge) South American and other corn-producing countries, just as much as rice is to Asia. Incentives for biofuel production are drawing farmers away from using land to produce food to using land to produce biofuels. This has resulted in lower food production as a whole.

While biofuels aren't the only alternative to oil, the Green Revolution, coupled with misinformed well-meaning consumers and the rush by companies to 'Go Green' have affected the price and supply of food.

Global Economic Growth

So what does this mean to you? Surely the price of oil and the Green Revolution makes no difference to you being able to eat nasi lemak for breakfast everyday. Wrong.

Economics 101: A shortage of supply of any product in relation to demand will result in an increase in price.

Newsflash: The price of food today is twice as high as it was at the start of 2008.

The cause of this was mostly global economic growth, especially in emerging economies such as China and India. Demand has been outpacing supply since 2003. Global stocks of food have been declining since 1999. The limited supply has resulted in volatility in the price of food as it gets more reactive to small shocks, such as rice export bans in major rice exporters such as India and Vietnam.

The Global Food Crisis

The main points that I'm trying to make is that (1) the price of food is increasing, and is unlikely to decrease substantially anytime soon until the world replenishes the supply of stocks, and (2) the supply of food is relatively low.

Admittedly, this doesn't affect how I eat. I'm still stuffing myself silly. But let's take a moment to think about how this will affect the hardcore poor living on the UN World Food Programme, who recently declared a state of emergency. Let's think about the victims of the Vietnam floods. I know, I'm all sunshine, aren't I?

Let's get pensive

Some say 'Knockin' on heaven's door' is the greatest song of all time. Some prefer 'Hotel California'. Me, Pink Floyd's 'Wish you were here' is top of the list for obvious reasons. Refer, if you will, to the opening verse, which gets me every time. Every time.

So you think you can tell heaven from hell, blue skies from pain
Can you tell a green field from a cold steel rail
A smile from a veil
Do you think you can tell

A brilliant rendition is by Fred Durst and John Rzeznik, and while I may be a bit skeptical of Fred Durst's abilities to sing a ballad, it's truly beautiful. And it gets you thinking, can we really tell heaven from hell? Can we tell blue skies from pain?

For some, escapism to a different country and disappearing from friends and family represents heaven, when in reality the escape provides the hell that excessism and immorality breeds. For others, a rigid regiment set by strict parents is what they have been brought up to see as heaven, when in reality, their mental health suffers in hell.

Everytime I hear this song, I wonder the same thing. Am I in heaven, or am I in hell? I'm hardly one to complain, having little to no money problems, but to be fair, that just means I have more time to find other problems - the same kind that comes with comfort - family, emotional and physical. Did I choose to come home, or am I trapped here by my own perception of heaven? Am I swimming in a fishbowl?

Did they get you to trade your heroes for ghosts? Hot ashes for trees? Hot air for a cool breeze? Cold comfort for change?

Did you exchange a walk on part in the war for a lead role in a cage?

How I wish, how I wish you were here. We're just two lost souls swimming in a fish bowl year after year running over the same old ground. What have we found? The same old fears.

Wish you were here.

Grey matter

In a classic turn of events that highlights the so-not-black-and-white-ness of being socially responsible, the blind masseurs of South Korea won the case to maintain the South Korean law stating that only the visually impaired can be licensed masseurs. From BBC: Blind S Korea masseurs win case:

A South Korean law which states that only the visually impaired can be licensed masseurs has been upheld in the country's Constitutional Court.

The licensed masseurs - who must be registered blind - have been protesting against moves to change the law.

They say it is a legal protection that provides many blind people with autonomy and an income.

Sighted masseurs said that the law infringed on free employment rights and criminalised them in their trade.

"The court decision is not only a verdict on our right to live but also a measure of South Korea's conscientiousness," said Lee Gyu-seong from the Korean Association of Masseurs.

Sure, you think, "Well hey, that's a good thing. Them blind people have work." And I'm not condemning the South Koreans for coming up with the law in the first place. It's a brilliant idea to get the blind to work instead of begging. From personal experience, I can tell you that many of the Malaysian blind folk make a conscious choice to beg instead of work because they make more money.

The positive implication of the law is that you give the blind gainful employment and a way to make a real living. You give them hope and a life. On the other hand, now that the law has become a way of life, it's become a way for the blind to become lazy, and instead of seeking out gainful employment where they could be better, they fall back on becoming masseurs.

Is there a union that ensures the quality of massage provided to protect the consumers? Are there schools to teach proper massage techniques to the blind? Where does the law leave the poor, sighted Koreans whose only skill is massaging? Are there measures in place that makes massaging a skilled profession that justifies the segmentation of society in this way? (NB: I'm asking this not because I'm questioning the authorities, but because I really don't know.)

If S. Korea rescinds the law, it makes them look like dictators where perception in developed countries is already just that. On the other hand, by leaving the law as is, S. Korea is allowing the blind their own careers, but at what cost? How willing will other business be to make an effort to hire the disabled when such laws exist? The general idea will be, "We don't need to hire the blind regardless of their other abilities. They've always got massaging". And while I always enjoy a good reflexology massage, one has to ask, "What are the real long-term economic and social implications of such a ruling on the blind?"

Just when I thought it was over

Just when I thought the worst of 2008 was over, it turns around and gets one last piece of my heart.