{"id":7943,"date":"2020-02-28T14:27:32","date_gmt":"2020-02-28T18:27:32","guid":{"rendered":"http:\/\/stateofthenation.co\/?p=7943"},"modified":"2020-02-28T14:27:32","modified_gmt":"2020-02-28T18:27:32","slug":"final-collapse-of-the-global-economic-financial-system-begins","status":"publish","type":"post","link":"http:\/\/stateofthenation.co\/?p=7943","title":{"rendered":"Final Collapse of the Global Economic & Financial System Begins"},"content":{"rendered":"

$5 Trillion Wiped Out From World Stocks Amid Fastest Collapse In History<\/h1>\n

ZeroHedge.com<\/p>\n

MSCI World Stocks collapsed from a record high into ‘correction’ in just five days.<\/p>\n

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The plunge in global equities has wiped out more than $5 trillion in value, or equivalent to nearly Japan’s annual GDP.\u00a0<\/strong><\/p>\n

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On Thursday afternoon, Guggenheim’s Scott Minerd said,\u00a0“this is possibly the\u00a0worst thing I have seen in my career<\/a>… it’s hard to imagine a scenario in which you can contain the virus threat,”<\/em><\/strong>\u00a0adding that “Europe and China are probably already in recession and US GDP will take a 1.5-2.0% hit.”<\/p>\n

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Guggenheim's Scott Minerd says the coronavirus crisis is possibly the worst thing he's ever seen in his career: "This has the potential to reel into something extremely serious" pic.twitter.com\/xLhhNm3u7t<\/a><\/p>\n

— Bloomberg TV (@BloombergTV) February 27, 2020<\/a><\/p><\/blockquote>\n