Are the global markets in bigger trouble now than they were in 2008?

After a record-setting end to 2013, global markets are now in steep decline. Bloomberg News is reporting a retreat that started in emerging markets has since spread to developed countries and erased $3 trillion from global equity values. Whether we are living in a bull market or not, experts say the threat posed by emerging markets is the greatest they’ve seen in more than a decade and declines may worsen.

“Nobody is telling you what’s really happening right now, and what’s happening right now is really, really significant,” Glenn said on radio this morning. “In 2008, our crash destroyed $1.8 trillion of wealth [in America in the first quarter]. What’s been happening in the last couple of weeks has destroyed globally $3 trillion of wealth.”

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While the $3 trillion figure is not nearly as staggering as the $14 trillion lost globally in the 2008 crash, the lack of coverage of these losses is notable.

“Here’s the intriguing thing, scary thing. There’s no one saying that this is over. They are saying this is the beginning, and they are calling it just a correction. But I don’t think anybody called the panic of 2008 a correction,” Glenn concluded. “And now you know why all the banks are putting in those [regulations] –get your money out because if you are dropping 20% and it’s not even a story. Why do you think it isn’t a story? Seriously, why is that not a story? How much money have you lost… And how much more money are you going to lose as we go down this path? And we are just at the beginning of it.”

Read the Bloomberg News report HERE.

Front page image courtesy of the AP

  • http://www.youtube.com/watch?v=V8FvmesaxXg Revan

    But remember half of this country not working is a recovery to this white house.

  • Fat Lip

    Over the top we will go we are basically there now its the fall that will separate the good the bad and selfish and all 3 groups will most definitely suffer and for what .
    ILLUSION is the name of the game.

  • ZEROGON

    Goodbye Dollar…Hello Euro

  • landofaahs

    Yes it’s worse. We have increased the debt federal, state, local, personal, student loan etc. The next crash that is coming is going to be crushing. I feel sorry for those who have not had the ability to protect themselves. The need will be great. I pray the the churches have enough people who can make the difference.

  • SonsOfLibertyRiders

    the same people who warned you in 2006 are still the ones telling you the truth: Schiff, Paul, Woods, Napilitano, Amsah, Massey.

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  • The Savage Hombre

    Reject the tyrant’s designs for absolute despotism: http://www.amazon.com/dp/B0094KY878

  • landofaahs

    How can any sane person question that? We and all the world including China have doubled and tripled downed on the debt bubble. I think China is even worse than America and that is saying something. There is a great reset or collapse coming and I am surprised at how long they have managed to postpone it. Frankly, it’s really not even odumbasses fault. He’s too much the puppet to take credit for it. The most any of these idiots can do is buy time. Use that time to prepare folks. There are ways to defend yourself but it depends all depends on your particular circumstances. If someone were willing to tell me their circumstances I would be willing to offer suggestions.

  • One Thirsty Bear

    Ultimately, it’s up to each of us to communicate the basics of responsibility, liberty, and prosperity to your social networks: http://www.amazon.com/dp/B0094KY878