That the real estate bubble in Korea is bursting?
But few people are aware of this, as of yet, because of the government's modest capable handling of the still could be potential crisis. We Koreans mess up on small and big things, but when it comes to "making a living" things, we're pretty serious. You knew not that you knew that? Right?
Wilson Pickett - The Midnight Hour (remember the clothes and hairstyles?)
I consider Korea to have been somewhat democratic for only the last 10 or so years. Before that? Too much shit went on. You could legally open bank accounts under false names and shit like that. FYI, you could pay no taxes on inheritance and not get caught legally. Some Good people tried to correct that several times and some other people kept doing media blitzes and opinion spreading and other shit. They said it would be bad for the economy to pass a law requiring you to open your bank account in your own name. And so on. Gimme a break! And people bought into that! People still use convoluted fairy tales like that and it works, but to a lesser extent. To know all this shit and avoid depression would have been a miracle. I guess. Hey! I'm smiling. I'm trusting God only. What do people know! Almost accepted the prognosis that I was slightly depressed. "Knowledgeable people"? Where? Close to four months now. Maybe I should have sent the gifts by Fed Ex?
A lot of money is being diverted from the consumer economy because social safety nets were established and the underground (untaxed) economy of corruption/drinking/bad shit are strongly discouraged. Granted that strongly is less than acceptable. We didn't have health or unemployment insurance or social security before that. And there was the foreign currency shortage crisis. Koreans are still used to over 10% growth per year. 4% growth and Koreans think we're up shit creek. Upon reflection, we did really well. Especially the last five years.
The next five years? I ask God for help and God tells me to help myself. Just joking! In part. God helps, but you have to help God.
Now, can you see?
