Hyphy Doc

Oops Fed did it again...

By cutting down the federal fund rate, aka the interest rate on overnight loans between banks to almost 0%, Fed is really trying its best in injecting one last stimulant for the economy. Will the dollar falter? Yes. Will the economy collapse? Not yet. If the economy were closer to full-employment the policy may be too stimulative and risk inflation. But deflation seems to be more of a concern these days than inflation. The low interest rate depreciates the dollar. However, this expansionary monetary policy effectively increases exports, and decreases imports (high import prices). The overall net exports increases. Thus, GDP should incease. On the other hand, based on consumption funtion, with the lower interest rate, investment should increase, and output increases accordingly. As such, it's not bad to have such a weak dollar in the current recession.

Nevertheless, there are long expenditure lags associated with monetary policy, so the interest rate cut may not significantly help the economy yet. But it should help to some certain extent.

ps. due to the limited macroecons principle's knowledge I have, the above analysis is merely my two cents worth. Feel free to share your thoughts. =]

Filial piety, the utmost important virtue embraced by Chinese culture, plays a vital role in defining sagehood or sainthood throughout the Chinese history of religious practices. The emergence of Confucian teachings is a breakthrough in Chinese history, for it not only lays the foundation of Chinese culture, but also sets the guiding principles of one’s actions. Filial piety is highly authoritative in the teachings of Confucius, and the Classic of Filial Piety (孝经) serves as the one of the earlier documented sources (400 B.C.E.) of teachings on filial piety. Chinese religion is multifaceted. It encompasses myriad practices such as Taoism and Buddhism. As history progresses, new forms of religious practices are adopted and novel ideas are generated. Yet, filial piety has infiltrated almost all forms of Chinese religious practices, be it Confucianism or Taoism, traditional Buddhism or modern Buddhism. However, the theme of filial piety is reshaped and reinterpreted by people during specific periods of time to give rise to novel ideals of sagehood or sainthood.

The idea of filial piety was first introduced in the Analects, a compilation of the teachings of Confucius written by his disciples. In the book, filial piety describes the basic role a son/daughter should play in a society. “When your parents are alive, comply with the rites in serving them; when they die, comply with the rites in burying them; comply with the rites in sacrificing to them.”[1] As long as a child’s parents are alive, he/she should serve them whole-heartedly. This form of filial piety involves completing household chores, providing parents with delicacies, tending to the parents’ requests and needs, and always displaying respectful comportment. “Today’s filial piety is called being able to provide sustenance. As for dogs and horses, both are provided sustenance. But, if one does not show respect wherein lies the difference.”[2] This type of caring for the parents reveals “a parents’ superiority and a child’s inferiority”[3], as well as the importance of a child’s respect towards his/her parents. If a child complains and grudges, he/she is not considered filial due to his/her insincerity. “As for the young taking on the burden when there is work to be done or letting the old enjoy the wine and the food when these are available. That hardly deserves to be called filial.”[4] Hence, Confucius effectively argues that every Chinese citizen, including the saints and sages, should observe the filial piety without any form of insincerity. Although in the Analects, filial piety pertains to both household behaviors and behaviors within the broader social context, the former is more important. After all, a saint cannot proceed on to ruling the state without taking good care of his/her parents. Family responsibility is still the core of the Chinese culture.

Conversely, philosophical Taoism seems to denounce the importance of filial piety. At first glance, Chuang Tzu believes that without the restrictions and naming imposed by societies and people, one is able to achieve supreme happiness. Chuang Tzu argues that “men claim that Mao Chiang and Lady Li were beautiful, but if fish saw them they would dive to the bottom of the stream, if birds saw them they would fly away, and if deer saw them they would break into a run.”[5] As such, what humans perceive as “beauty” may not abide by a universal standard. Human prejudice and discrimination are subconsciously rooted in their beholding of “names” and “judgments”, and become obstacles for them to attain sainthood. Chuang Tzu once intended to offer a skull a body again, and “make him some bones and flesh, return him to his parents and family”[6], but the skull happily declined the offer by saying “why would I throw away more happiness than that of a king on a throne and take on the troubles of a human being again.”[7] Filial piety seems to be a burden, and thus undermines one’s potential to wander freely in the world. The notion of filial piety is subject to the criticism of differentiating the “superior” parents from the “inferior” child. The child will have to take up responsibilities and attempt to serve the parents. In the process of serving, the child intends to obtain “good” food, and the intention of naming the “good” will breed the notion of the “bad”, thus creating prejudice within the child. As the Daodejing puts it, “The One gives birth to two; two give birth to three; and three give birth to all things.”[8] As soon as one labels an entity with a name, he contributes to the mushrooming of more “names”. This phenomenon triggers a chain reaction. “When the six relations were no longer harmonious, there were filial children.”[9] As such, filial piety is the upshot of an unbalanced interpersonal relationship. Nevertheless, is Chuang Tzu really attempting to subvert the traditional filial piety within the culture? No. Chuang Tzu claims that the Way will be achieved with everyone fulfilling their own duties, and obtaining a harmonious relationship between parent and child, older and younger brother, as well as husband and wife. As such, there should not be a term called “filial piety” to begin with, for a healthy parent child relationship could exist as long as the two fulfill their own duties. Consequently, what Chuang Tzu is denouncing is not the process of taking care of parents, but the actual naming of “filial piety”. Chuang Tzu agrees with Confucius that a balanced parent-child relationship is crucial for the stability of the society, but with so much emphasis placed on the labeling of “filial piety”, one is hindered from obtaining sainthood.

If the teachings of philosophical Taoism are to condemn the naming of filial piety, then traditional Indian Buddhism actually mentions little of this Chinese virtue. Early Indian Buddhism suggests that one has to cut off family ties to pursue Nirvana. Buddha himself left his family to serve as a great example. “Sorrow, lamentation, pain, distress, and despair are born from one who is dear, come springing from one who is dear.”[10] Individual salvation thus cannot be achieved with the constant sorrows generated by the family. This certainly impedes the prospering of Buddhism in China where family relationships are highly treasured. In order to compete with existing religious practices in China, Buddhism tactically adopts the filial piety ideals and transforms itself into an attractive religion. During the 5th century C.E., Buddhism itself shifts its focus from practicing the Hinayana to practicing the Mahayana; world salvation is emphasized instead of individual salvation. As a common representation of Guanyin Bodhisattva, Miao Shan princess shows how one is able to comply with the traditional Buddhist teachings while upholding the virtues of filial piety. Miao Shan rejected her parent’s intention to seek out a husband for her, and she ran away to embark on the journey to attain Buddhist sainthood. However, she later came back and saved her father by cutting off her arm and used it as a secret ingredient to cure her father’s blindness. “The story accommodates the Confucius virtue of respect for parents (filial piety) by showing that it can be fulfilled only in Buddhism.” [11] Buddhist mentality builds the foundation of all actions and virtues, with filial piety being one of them. The practice of Mahayana enables an individual to exercise filial piety. Questions are raised when people wonder why such emphasis is placed on filial piety in Mahayana Buddhism. The answer is witty - personal filial piety alone is inadequate to redeem the sins of everyone in the family, including those of the deceased ancestors; but with the help of Mahayana rituals, one not only helps the living family to accumulate good karma, but also assists the ancestral spirits to transcend into the heavenly realm and rid of all sins. According to some Buddhist scriptures, when a monk attempts to free his mother from hell, the Buddha tells him that “it is not something that you, alone, have the power to do anything about.”[12] Instead, Buddha asks him to “prepare on behalf of past parents of seven generations and any living parents who are currently experiencing crisis all manner of cooked delicacies, fresh fruits, vessels for bathing and abulation…The entire assembly of saints (will) all gather together…”[13] Whoever gives offerings to these monks will have their ancestors “escape the torment of the three lower destinies”[14] and their living parents “will enjoy hundred years of good fortune and happiness.”[15] Evidently, filial piety is no longer associated with the Confucius interpretation of serving one’s parents with respect. In Mahayana Buddhism, Mahayana practices, rituals of offering for example, are indispensable mediums for one to cultivate filial piety. Mahayana practices elevates the ideals of filial piety – rather than merely providing parents with delicacies, a saint enables the entire family to transcend to the heavenly realm by whole-hearted dedication to Mahayana Buddhist practices.

Chan Buddhism, being a school of Mahayana Buddhism in China, also highlights the importance of filial piety. It is interesting however, to see how Buddhist nuns play a role in defining filial piety within the teachings of Chan. The prominent Chan Master Qiyuan Xinggang has to “deal with her responsibility to her deceased fiancé’s parents before she could embark on the religious life she desires. She needs the permission of Chang’s parents, to whom she owed a filial duty as strong as, if not stronger than the one she owed her own parents.” [16] Filial piety thus extends to the in-law families for Chinese women. Qiyuan Xinggang must respect her in-law parents, and their permission is a prerequisite for her pursuit of Chan. It is clear that Chan Buddhism values filial piety, and one is not supposed to embark on the journey to enlightenment without fulfilling the basic role of a filial son/daughter. In this case, we observe a subtle extension of filial piety beyond one’s personal family. As for the daughter, she not only needs to serve her own parents, she is also responsible for the welfare of her in-law parents. The idea of family is extended to a larger context, and women thus have to achieve more in fulfilling their filial piety in both families. As a result, enlightened female Chan masters may have to follow the Mahayana practices even more strictly in order to transcend both of her families into the heavenly realm.

So much for the infiltration of filial piety in traditional Chinese religious practices, let us now take a leap forward to examine the contemporary Chinese Buddhist reform movements. In modern days, the concept of Renjian Fojiao-humanistic Buddhism, has brought about new meanings for the traditional Mahayana Buddhism. Taixu, being one of the leading architects for Renjian Fojiao, shifts “the focus from attaining rebirth in an other-worldly Pure Land to the transformation of human society itself into one through benevolent bodhisattva action.”[17] As such, much investment and effort are channeled into the re-construction of current society. Tzu Chi, the Buddhist Compassion Relief Association, becomes the best representation of “the modernization of Buddhist Compassion.”[18] “Tzu Chi’s social vision is largely based on classical neo-Confucian theme-the family.”[19]”In keeping with this Confucian form of social imagination, the boundaries between their own small families and the Tzu Chi family become blurred-as do the boundaries between the Tzu Chi family and the world as a whole.”[20] As a result, Tzu Chi members treat everyone in the society as their extended family members. Whenever and wherever help is needed, they will generously offer their helping hands. To them, the importance of converting the current world into a Pure Land is much more pertinent than living a transcendent after-life. Their expression of filial piety encompasses their responsibilities to their direct families, their common mother Master Cheng Yen (founder of Tzu Chi), and the entire society. Master Chen Yen suggests that one ought to “practice filial piety to increase the ‘wisdom life’ of one’s parents, and the way to do this is to abandon the selfish, temporary love we give only to our relatives and close friends and expand our love to include all living beings.”[21] As such, one becomes a rightful filial citizen and contributes to the establishment of a “pure” society filled with great love and compassion. This accumulates good karma for one’s parents and the filial actions will assist the enlightenment of one’s parents, and the parents will in turn start to contribute to the society as well. Tzu Chi has so far gathered ten million members world wide, and their accomplishments earn them international recognition. They helped with the relief work of 1999 Chichi earthquake and 2008 Sichuan earthquake. They also established schools in Taiwan to educate the young. Tzu Chi’s incorporation of filial piety into the characteristics of its members has brought abounding light and hope to the overall Taiwan community. This type of filial piety is a result of the combination of traditional theory with modern practices. While Confucius advocates absolute obedience, Master Chen Yen has successfully made “Confucian theory more flexible.”[22] This dichotomy between traditional and modern teachings is integral to the topic of filial piety. By extending the family to the entire society, the enlightened master breaks down the absolute “superior parent-inferior child” model, and preaches the virtues of cultivating filial piety within the larger social context.

As we have seen thus far, filial piety appears in almost all forms of Chinese religious practices. Nevertheless, its form and the way it is presented vary from time to time. Should we assume that filial piety is like water, then Confucius would say that filial piety resembles water in a bottle; the water in this bottle will give birth to all virtues. Chuang Tzu would agree, yet he orders the removal of the bottle, for it constrains the natural flow of the water (filial piety). Without the bottle, the water will diffuse more effectively and freely to enhance the growth of virtues. For traditional Mahayana Buddhism, water is not just for inculcating personal virtues to attain sainthood; it also serves as an essential constituent to purify one’s entire family. As for contemporary humanistic Buddhism, the water is meant for the entire world, thus every single drop is powerful enough to save and purify a soul; thus it is shared among all people. Filial piety will continue to be involved in the reshaping of future Chinese religious practices. Yet, we could always see the subtle resemblance of modern filial saints and traditional filial saints. The essence of filial piety never changes - to love with great passion and respect.

References [1] D.C. Lau. “Book II. Verse 5” The Analects. 1979. pp 63. Dec 11 2008. [2] D.C. Lau. “Book II. Verse 7” The Analects. 1979. pp 64. Dec 11 2008. [3] Keith N. Knapp. Selfless Offspring. 2005. pp 114. Dec 11 2008. [4] D.C. Lau. “Book II. Verse 8” The Analects. 1979. pp 64. Dec 11 2008. [5] Burton Watson, Chuang Tzu. 1996. pp41. Dec 11 2008. [6] Burton Watson. Chuang Tzu. 1996. pg 115. Dec 11 2008. [7] Burton Watson. Chuang Tzu. 1996. pg 115. Dec 11 2008. [8] Wm. Debary. Sources of Chinese Traditions. 1999. pg 89. Dec 11 2008. [9] Wm. Debary. Sources of Chinese Traditions. 1999. pg 84. Dec 11 2008. [10] Thanissaro Bhikkhu. Piyajatika Sutta. 1998. Dec 11 2008. [11] Jose L. Cabezon. Buddhism, Sextuality and Gender. 1992. pg 167. Dec 11 2008. [13] Donald S Lopes. Buddhist Scriptures. 2004. pg 331. Dec 11 2008. [14] Donald S Lopes. Buddhist Scriptures. 2004. pg 332. Dec 11 2008. [15] Donald S Lopes. Buddhist Scriptures. 2004. pg 332. Dec 11 2008. [16] Beata Grant, Eminent Nuns. 2008. pp 39. Dec 11 2008. [17] Scott Pacey. A Buddhism for the Human World. 2005. pg 63. Dec 11 2008. [18] Richard Madsen. Democracy’s Dharma. 2007. pg 16. Dec 11 2008. [19] Richard Madsen. Democracy’s Dharma. 2007. pg 18. Dec 11 2008. [20] Richard Madsen. Democracy’s Dharma. 2007. pg 18. Dec 11 2008. [21] Richard Madsen. Democracy’s Dharma. 2007. pg 25. Dec 11 2008.

I don't know why I set up this blog. Just a feeling. I need to.

During the A levels of 2005, I started blogging, and have started numerious blogs ever since. Ironically, few of them pertains to my intellectual curiosity, and the majority of my previous blog entries were nothing but random rambling of life.

To this end, I really hope to start sharing some of my academic pursuit here.

Back to finals.

Peace out.