Paying peanuts

I have recently noticed that some of the translation jobs posted at translation directories such as proz.com and translatorscafe.com offer extremely low rates. I am aware that some of the agencies work from countries where the currency is weak in comparison to £s and €s. However, agencies offering rates of USD 0.03 and USD0.035 per word are definitely crossing a line. I would be extremely hesitant to subcontract a translator who claims he/she would work for less than USD90 per thousand words. Given the industry's lack of regulation and the common idea that anyone who speaks more than two languages is able to translate, these low rates present a risk to the translation industry in general. Professional translators should think twice before accepting underpaid jobs, even if they are desperate for a job.