Global economic crisis

For the past few weeks the news of all newspapers are looking very similar to 2008, when the world suffered from a serious economic crisis. Europe is in trouble, the US is in trouble... and that means that the rest of the world is in trouble.

The European Union and the US are the biggest economies in the world, and they do business with almost every country. If the economic crisis goes deeper that means that demand for products and commodities will go down, affecting countless countries but specially the BRIC's. The stock markets of numerous countries are already facing incredible losses, including the one day 8.08% devaluation of Bovespa, the Brazilian stock market. Investors are loosing confidence in the US an Europe and believing in a slow down of economies all over the world, pulling off their money from stock markets. Blue chips are being sold for incredible low prices. Some specialists and big time businessman such as Eike Batista (ranked 8 among the world's richest people) are saying that this is the time to buy, but maybe we should wait as it might be too soon, because when dealing with a global economic crisis we are never really sure of  how deep it might get.

Investors wait from a response from FED as they are very uncertain of what the future will be. Let us hope that at least for the other countries (not US and Europe) this crisis will be as Eike Batista defined, just a small little thing.