I got lucky or unlucky to be in the U.S. right now to experience a possible economy downturn. The once-prestigious investment bankers on the Street now become the cheap target for deep pocket buyers. Bear Stearns is one example. J.P. Morgan got a favorable deal of only $2 per share, and the whole street is going to wait to see who will be the next one.
It's interesting to watch CNN's Larry King show today when several "financial experts" were talking about how to invest money right now. One expert said people have to keep their money in the stock market in order to enjoy a longer-term return. However, confidence does matter a lot here. When one person said it is crisis, it is usually not; but when seventy percent of the people said this, it is going to be. What I cared most is how U.S. stock market will affect the global market. I have to admit that New York is still the center of the world, while Europe and Asia markets couldn't replace right now. China market including Shanghai and Hong Kong will behave the same way, though the fundamental is different. The consumer industry in China is still pretty strong, while a lot of companies are going to report strong earnings, such as China Mobile. It is necessary to realize it and take advantage of this good opportunity in the market.
Speaking of this, even Premier Wen said the economy this year is going to be tough. However, the liquidity is still high when we see central bank of China still raised the deposit reserve rate for banks to absorb the liquidity. It is a good year to relax and enjoy Olympics. Keep energy to work hard next year, my comrades :)