Two days after I arrive at the bay area, I still didn’t see anything wrong. I arrived in Saturday, and has a bunch of meetings in San Francisco. Everything seems great. Now, it is Monday.
However, some chat with my friends today is all about negative news.
Lehman Bros’ Bankruptcy
I may be too late on news, but I just heard about the bankruptcy of Lehman Brothers. I just heard it 10 minutes over coffee from my old friend in eBay.
What? What is happening. Then I realized the Dow Jones dropped by 504 points, the worst since 9/11. It is a bad day today.
How interesting that my first meeting tomorrow will be at Lehman Bros’ office. It is a awkward situation. How about the meeting tomorrow?
But there are much bigger question to ask beside my little meeting: What’s next for the US economy?
Feeling the Recession
I haven’t experienced recession in my life time. The China economy just keep growing in the last 30 years since I was born. There are some problems, but not as big as US recession this time.
My friend told me that Americans just cut their spending, and don’t pay for many things. They don’t buy new things, they don’t have expensive dinner (or even don’t dinner outside), and they don’t plan for vacations. (By “Don’t”, it really means less). Jobs are cut, and the cloud just appears to be everywhere.
To add a note to this, yesterday, I had appointment with a friend at Starbucks, 1 Market Plaza. We went into the building just to find out the coffee shop has been closed. It just echos of the news that Starbucks is closing outlet because people don’t buy expensive coffee as often as before.
It seems people in American is tied more closely to economy and finance world than we are. I still cannot understand what is going on now. Would like to hear what do you think about it.
And, the question is, what about China?