Woman in a hot air balloon realized she was lost. She reduced altitude and spotted a man below. She descended a bit more and shouted, ‘Excuse me sir, can you help me? I promised a friend I would meet him an hour ago but I don’t know where I am.’

The man below replied, ‘You’re in a hot air balloon hovering approximately 30 feet above the ground. You’re between 40 and 41 degrees north latitude and between 59 and 60 degrees west longitude.’

‘You must be an engineer,’ said the lady balloonist.

‘I am’, replied the man. ‘How did you know?’

‘Well, answered the balloonist, ‘everything you told me is technically correct, but I’ve no idea what to make of your information, and the fact is I’m still lost. Frankly, you’ve not been much help to me at all. If anything, you’ve delayed my trip even more.’

The man below responded, ‘You must be in management.’

‘I am,’ replied the lady balloonist, ‘but, how did you know?’

‘Well,’ said the man, ‘You don’t know where you are, or where you’re going. You have risen to where you are, due to a large quantity of hot air within. You made a promise, which you’ve no idea how to keep, and you expect people beneath you, to solve your problems, and you are prompt to blame others for your fate and stupid deeds!!!!!

Admitting you are wrong

A good engineer, like a good scientist, must at some point admit that he is wrong. This is very difficult to do — especially for mid- and late-career engineers who are a bit set in their ways. This is, in my opinion, I guess, a pride thing. And many senior engineers have spent their whole careers building up that reputation and pride. But what they may not understand is that it is important, and right, to admit when you are wrong and that act should bolster an engineer’s reputation, not mar it. Only those who would not, or cannot, admit errors who are the bad engineers.

So, do not fall into the same trap.

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Interesting article written by an Indian Economist, especially the last paragraph!

Many points, while debatable, are worth pondering. Here they go…………

Japanese save a lot. They do not spend much. Also, Japan exports far more than it imports. Has an annual trade surplus of over 100 billions.

Yet Japanese economy is considered weak, even collapsing.

Americans spend, save little. Also US imports more than it exports. Has an annual trade deficit of over $400 billion. Yet, the American economy is considered strong and trusted to get stronger. But where from do Americans get money to spend? They borrow from Japan , China and even India .

Virtually others save for the US to spend. Global savings are mostly invested in US, in dollars. India itself keeps its foreign currency assets of over $50 billions in US securities. China has sunk over $160 billion in US securities. Japan ‘s stakes in US securities is in trillions.

Result:

The US has taken over $5 trillion from the world. So, as the world saves for the US – Its The Americans who spend freely. Today, to keep the US consumption going, that is for the US economy to work, other countries have to remit $180 billion every quarterly, which is $2 billion a day, to the US !

A Chinese economist asked a neat question. Who has invested more, US in China , or China in US? The US has invested in China less than half of what China has invested in US.

The same is the case with India . We have invested in US over $50 billion. But the US has invested less than $20 billion in India .

(Then) Why the world is after US?

The secret lies in the American spending, that they hardly save. In fact they use their credit cards to spend their future income. That the US spends is what makes it attractive to export to the US . So US imports more than what it exports year after year.

The result:

The world is dependent on US consumption for its growth. By its culture of consumption, the US has habituated the world to do it. But as the US needs money to finance its consumption, the world provides the money. It’s like a shopkeeper providing the money to a customer so that the customer keeps buying from the shop.

(If) the customer will not buy, the shop won’t have business, unless the shopkeeper funds him. The US is like the lucky customer. And the world is like the helpless shopkeeper financier.

Who is America ‘s biggest shopkeeper financier? Japan of course.

Yet it’s Japan which is regarded as weak. Modern economists complain that Japanese do not spend, so they do not grow. To force the Japanese to spend, the Japanese government exerted itself, reduced the savings rates, even charged the savers. Even then the Japanese did not spend (habits don’t change, even with taxes, do they?). Their traditional postal savings alone is over $1.2 trillions, about three times the Indian GDP. Thus, savings, far from being the strength of Japan , has become its pain.

Hence, what is the lesson?

That is, a nation cannot grow unless the people spend, not save. Not just spend but be happy, and if need borrow and spend.

Dr. Jagdish Bhagwati, the famous Indian-born economist in the US , told Manmohan Singh that Indians wastefully save. Ask them to spend, on imported cars and, seriously, even on cosmetics! This will put India on a growth curve. This is one of the reason for MNC’s coming down to India , seeing the consumer spending.

‘Saving is sin, and spending is virtue.’

But before you follow this Neo economics, get some fools to save so that you can borrow from them and spend!!!

While there are different perspective on the issue but, the points are rather interesting and entertaining. Kudos!!

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Life is not fair, but so what? There is nothing that can be done to eliminate the unfairness, yet there are plenty that can be done to thrive and prosper in spite of it, and even because of it.

Charles J. Sykes’s words of wisdom are honest, at times harsh, and often hilarious advice: about what most children will encounter in the “real world” post-schooling and how parents can help them best prepare with honest challenges. Not all of them have to do with academics, like:

Rule No. 1

Life is not fair. Get used to it. The average teenager uses the phrase, “It’s not fair” 8.6 times a day. You got it from your parents, who said it so often you decided they must be the most idealistic generation ever. When they started hearing it from their own kids, they realized Rule No. 1.

Rule No. 2

The real world won’t care as much about your self-esteem as much as your school does. It’ll expect you to accomplish something before you feel good about yourself. This may come as a shock. Usually, when inflated self-esteem meets reality, kids complain it’s not fair. (See Rule No. 1)

Rule No. 3

Sorry, you won’t make $60,000 a year right out of high school. And you won’t be a vice president or have a car phone either. You may even have to wear a uniform that doesn’t have a Gap label.

Rule No. 4

If you think your teacher is tough, wait till you get a boss. He doesn’t have tenure, so he tends to be a bit edgier. When you screw up, he’s not going to ask you how you feel about it.

Rule No. 5

Flipping burgers is not beneath your dignity. Your grand-parents had a different word of burger flipping. They called it opportunity. They weren’t embarrassed making minimum wage either. They would have been embarrassed to sit around talking about Kurt Cobain all weekend.

Rule No. 6

It’s not your parents’ fault. If you screw up, you are responsible. This is the flip side of “It’s my life,” and “You’re not the boss of me,” and other eloquent proclamations of your generation. When you turn 18, it’s on your dime. Don’t whine about it, or you’ll sound like a baby boomer.

Rule No. 7

Before you were born your parents weren’t as boring as they are now. They got that way paying your bills, cleaning up your room and listening to you tell them how idealistic you are. And by the way, before you save the rain forest from the blood-sucking parasites of your parents’ generation, try delousing the closet in your bedroom.

Rule No. 8

Your school may have done away with winners and losers. Life hasn’t. In some schools, they’ll give you as many times as you want to get the right answer. Failing grades have been abolished and class valedictorians scrapped, lest anyone’s feelings be hurt. Effort is as important as results. This, of course, bears not the slightest resemblance to anything in real life. (See Rule No. 1, Rule No. 2 and Rule No. 4)

Rule No. 9

Life is not divided into semesters, and you don’t get summers off. Not even Easter break. They expect you to show up every day. For eight hours. And you don’t get a new life every 10 weeks. It just goes on and on. While we’re at it, very few jobs are interesting in fostering your self-expression or helping you find yourself. Fewer still lead to self-realization. (See Rule No. 1 and Rule No. 2.)

Rule No. 10

Television is not real life. Your life is not a sitcom. Your problems will not all be solved in 30 minutes, minus time for commercials. In real life, people actually have to leave the coffee shop to go to jobs. Your friends will not be as perky or pliable as Jennifer Aniston.

Rule No. 11

Be nice to nerds. You may end up working for them. We all could.

Rule No. 12

Smoking does not make you look cool. It makes you look moronic. Next time you’re out cruising, watch an 11-year-old with a butt in his mouth. That’s what you look like to anyone over 20. Ditto for “expressing yourself” with purple hair and/or pierced body parts.

Rule No. 13

You are not immortal. (See Rule No. 12.) If you are under the impression that living fast, dying young and leaving a beautiful corpse is romantic, you obviously haven’t seen one of your peers at room temperature lately.

Rule No. 14

Enjoy this while you can. Sure parents are a pain, school’s a bother, and life is depressing. But someday you’ll realize how wonderful it was to be a kid. Maybe you should start now. You’re welcome.

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One very important thing you can do is to dream, and use the power of those dreams to triumph even in the face of all the unfairness and the challenges. Good Luck!