Chinese don't really believe in markets. They like stability, they like control.

Nobody really knows what the market is going to do, but it sure looks like we are going to have a lot more volatility.

I think the Chinese are really amateurs when it comes to running markets.

It may be that the U.S. stock market starts to rise if people think it's gone far enough.

I think it's hard to understand in economics. It's easier to understand on psychology.It's a kind of panic or a sense that the world economy is just not in as good shape as we thought and so everybody is chasing everybody else.

I think oil prices are down for two reasons. One is, there is a lot of supply. There is a lot of supply because the U.S. now produces a lot of oil and there is a lot of supply because the Saudis seem to want to produce a lot of oil, maybe to punish the Iranians and the Russians.

There is also a concern that there is a lack of demand of oil. And so when commodity prices fall, it's good if you happen to be a consumer, but it's sometimes seen as symptom of a weakening economy.