This article was written by Michael Snyder and originally published at his Economic Collapse Blog.
Editor’s Comment: The system is beyond the point where it is merely showing stresses and fractures. Things are now falling apart and there may well be no way of putting them back together again.
The media will continue to claim everything is fine, until the day of panic and reckoning when it will suddenly be the ‘next Greece’ or ‘2008 all over again’… but worse.
27 Major Global Stocks Markets That Have Already Crashed By Double Digit Percentages In 2015
by Michael Snyder
Anyone that tries to tell you that a global financial crisis is not happening is not being honest with you. Right now, there are 27 major global stock markets that have declined by double digit percentages from their peaks earlier this year. And this is truly a global phenomenon – we have seen stock market crashes in Asia, Europe, South America, Africa and the Middle East. But because U.S. stocks are only down less than a thousand points from the peak earlier this year, most Americans seem to think that everything is just fine.
The truth, of course, is that everything is not fine. We are witnessing a pattern similar to what we saw back in 2008. Back then, Chinese stocks and other major stock markets started crashing first, and then U.S. stocks followed later.
And it appears that we may have entered the next leg down for markets in the western world this week. The Dow was down another 252 points on Thursday, and all of the major stock indexes in the U.S. are now negative for the year except for the NASDAQ. Unless there is a major turnaround in the coming weeks, the six year winning streak for U.S. stocks is likely over.
But when you step back and look at what has been happening globally, a much more ominous picture emerges. I spent much of the afternoon looking at stock market charts for the largest economies all over the globe. What I discovered was financial carnage that was much worse than I anticipated.
It turns out that there are 27 major global stock markets that have fallen by more than 10 percent from peaks that were set earlier this year. If you want to verify this information for yourself, just go to Trading Economics. As you can see, many of these stock market declines have been quite impressive…
1. China: down more than 30 percent
2. Saudi Arabia: down 26 percent
3. Germany: down about 13 percent
4. United Kingdom: down close to 12 percent
5. Spain: down 15 percent
6. Brazil: down more than 22 percent (13,000 points overall)
7. Malaysia: down 17 percent
8. Turkey: down 16 percent
9. India: down close to 12 percent
10. Chile: down 11 percent
11. Columbia: down about 30 percent
12. Peru: down more than 40 percent
13. Bulgaria: down more than 20 percent
14. Greece: down more than 30 percent
15. Poland: down about 19 percent
16. Malaysia: down 10 percent
17. Egypt: down 32 percent
18. Indonesia: down 18 percent
19. Canada: down 12 percent
20. Ukraine: down 45 percent
21. Morocco: down 13 percent
22. Ghana: down 17 percent
23. Kenya: down 27 percent
24. Australia: down 13 percent
25. Nigeria: down more than 30 percent
26. Taiwan: down 15 percent
27. Thailand: down 20 percent
We have not seen numbers like these since 2008, and trillions of dollars of stock market wealth has been wiped out globally. So the “nothing is happening” crowd is simply dead wrong. Stocks are already crashing all over the planet. Just because the big U.S. stock market crash has not happened quite yet does not mean that a major global financial crisis is not happening.
But do you know what is crashing here in this country?
Junk bonds.
At this point, yields on the riskiest junk bonds have risen to levels that we have not seen since the last financial crisis. As I have discussed repeatedly, yields on junk bonds spiked dramatically just before the stock market crash of 2008, and now it is happening again…
This is precisely the kind of behavior that we would expect to see if a major U.S. stock market crash was imminent. Personally, I watch the junk bond market very, very closely because it is such a key leading indicator. And according to Jeffrey Snider, it appears that “something” is starting to cause junk bonds to sell off at an alarming pace…
There isn’t much as far as confirmation, but it increasingly appears as if “something” just hit the triple hooks (CCC) in the junk bond bubble. At least as far as one view of it, Bank of America ML’s CCC implied yield, there was a huge selloff that brought the yield to a new cycle high (low in price) above even the 2011 crisis peak.
But just like in 2008, a lot of people will not heed the warnings because they don’t have the patience to watch long-term trends play out.
We live in a society where we expect constant instant gratification. We have instant coffee, video on demand and 48 hour news cycles. If something does not happen immediately, most of us quickly lose patience.
On my other website, I include a lot more stories about things that are trending in the news. For example, earlier today I wrote about the horrible shootings in San Bernardino, California and I explained why I believe that Islamic terror is now more of a threat to the American people than ever before.
But on this website I like to take a broader view of things. For months, I have been warning that conditions were perfect for another major global financial crisis, and since that time events have been unfolding in textbook fashion.
And as you can see from the numbers above, we have already entered a new global financial crisis. If you tried to tell someone in China, Brazil or Saudi Arabia that a financial crisis was not happening, they would just laugh at you. We need to start learning that the world doesn’t revolve around the United States.
Of course the U.S. is heading for tremendous difficulties as well. This is something that I covered yesterday. All of the fundamental economic numbers are absolutely screaming “recession”, and yet most of the “experts” are still forecasting good things for the coming year.
Those that do not learn from history are doomed to repeat it. None of the problems that caused the crisis the last time around have been fixed, and most of our “leaders” seem blind to what is happening at this moment even though the exact same patterns that played out in 2008 are playing out once again right in front of our eyes.
If you have been waiting for the next global financial crisis, you can stop, because it is already here.
As we move toward the end of 2015, let us hope for the best, but let us also get prepared for the worst.
Guess what?
USA is next!!!
WTF, my stocks are going up! Stocks of food, fuel, ammo, etc. just keep going up lol. He must be in the wrong market!
Of course the holy hypocrites don’t welcome the refugees to “Israel.”
https://twitter.com/HoffmanMichaelA/status/672882811313848320/photo/1?ref_src=twsrc%5Etfw
They are smart enough to reject the enemy.
Wrong. They are the enemy. Jewish historian Michael Hoffman’s revisionist website makes it clearly evident.
http://www.veteranstoday.com/2015/12/05/who-owns-isis/
https://www.youtube.com/watch?v=bPCwon2BKoQ
I see these ads marketing slip on boots to metrosexual men. Don’t buy fucking slip-on boots. Your ankles will get rubbed raw hiking through the woods. Trust me, I used to use Wellingtons to climb in the winter. They work great for a day hike but any more than that is pushing your luck. You need laces.
Trouble is, shoelaces used to be made of leather, and they wouldn’t come untied. No more. Modern synthetic shoelaces come undone all fucking day long. Especially a pain in the ass if youre moving through the woods with a backpack. This knot in the video I have beta tested and it should put a stop to it.
Don’t bother buying headlamps or flashlights with red or green lenses or flash capabilities or flood/spot selectors or variable intensity levels. You cant hike at night with that fucking red light bullshit. It’s useful if youre stationary or crawling a short distance on your belly, or sailing or flying a plane at night. I use the sidewinder that has blue/green/white/IR lenses, and a red/white headlamp; I only ever use white at full intensity flood. They say green wont spook animals and blue makes blood trails visible. I’ve tried it and I call bullshit on both those claims.
I’ve read that 95% of ocean sailboats have never been to the open ocean, and 95% of outdoor gear is purchased by city slicker sheeple. I definitely think that the purpose of the vast majority of tacti-cool shit is to ambush your wallet at Cabellas (I fucking hate Cabella’s anyway…poor quality and exorbitant shipping costs).
Here’s a tip about tying your shoelaces so they don’t come undone during the day. After you tie the first simple knot, continue by tying the bow knot backward from the usual way, reversing things from left to right and vice-versa. Your shoelaces will stay tighter longer, even if they’re synthetic strings.
This is just one of many things that most of us do incorrectly.
acid….double knot your laces you stupid fag punk. any old guy could tell you that.
OBAMA: “REPUBLICANS ARE AFRAID OF SYRIAN WOMEN AND CHILDREN? THAT DONT SOUND SO TOUGH”.
SO OBAMA THINKS WOMEN COULD NEVER BE AS GOOD AT FIGHTING AS MEN…WHICH IS WHY HE IS OPENING ALL COMBAT JOBS TO WOMEN.
MUSLIM WOMAN SHOOTS 17 ODD PEOPLE
WTF?
Dude, the caps lock button on the left side of your keyboard,if you stop SHOUTING more people will read and respond to your comments. Mostly friendlies here who share your frustration, so there is no need to SHOUT!
And off topic.
You Americans are obsessed with violence and guns!
Do you realize your country is doomed?
Yes, there is every reason to SHOUT WHAT HE SAID FROM THE ROOFTOPS, INCESSANTLY UNTIL THE F’ING SHEEPLE WAKE UP!
https://www.youtube.com/watch?v=3CHGKkm6vl4
Welp. We’re fucked.
How are we actually supposed to prep for a financial crisis? I keep seeing it repeated “Get out of debt, have multiple bank accounts” but what else?
My same question. All I ever get is the same stuff- get out of debt, invest in yourself(whatever that means), have a decent supply of beans, bullets, and band aids, etc. etc. A better answer would be how will the financial crisis proceed. Will we do an Argentina, or Zimbabwe? A Germany or Venezuela, or none of the above??
Reduce expenses…
Have some silver on hand in case of emergency…
Agreed
If you are not already out of debt, then your just screwed. I would not hord money either. Cash will loose it’s value, however, you should have enough to operate for a while.
Silver for everyday trading, gold for preserving your wealth.
Look to the stories our grand parents told us of the great depression. It didn’t happen overnight, and it wasn’t over the next morning…
I prepare for cataclysmic events, but also for the slow grind that seems to be looming now. Everything is costing more, and at the same time salaries are going down, work is more difficult and more time consuming due to rules and regulations.
Here comes the slow suck. Items cost more and it takes more time to accumulate the ability to acquire them. If you can’t make it yourself you have to pay a small fortune to get anything worth having.
I would prefer a quick reset as it seems it would actually be less painful, like ripping a bandaid off instead of pealing it off slowly.
Look out for the “Graboids” too, they’re sneaky little buggers!
You are right about the Depression. It started in 1929, but was not full blown until 1932.
I too wish for a fast crash, but we are getting a death by a thousand cuts.
Right on Burt!
Oh no! Ghana is down 17%, we’re all doing to die! (sarcasm)
My Cocoa Derivative Futures Index Fund is crashing!! Also my Spicy Manioc Pyramid Apex Futures Fund is also down. Bummer…
better to have real money than just paper money.
Paper money can burn real money not.
Record Silver Coin Demand Signals Financial Trouble Ahead
http://www.silverdoctors.com/record-silver-coin-demand-signals-financial-trouble-ahead/
My hair is on fire i,m so skeered .
Was it Stevie Wonder ? Nothin from nothin leaves nothin ?
Thats about where i am , sooo……
Billy Preston…
ht tps://www.youtube.com/watch?v=aj5DccgBYeM
When the great USA starts to flounder on its immigration policy, that’s when the rest of the world shits its pants.
When America has had its fill of immigrants then immigration as we know it ends.
Time to close the borders.
Time to protect what’s dear and loved from the destruction of ungrateful aliens.
Time the Western countries said NO MORE. NO MORE. NO MORE.
The cost is too high.
This from a close friend who is a recently retired *very* senior IL. state trooper that I know. No, you won’t be able to verify this on leftist Snopes, but for those of you reading this, I can tell you this is ipsissima verba what he wrote me, (minus a typo correction):
Where is the third person that every witness said was there?
Just like after Katrina, why when we need to protect ourselves most, when we are the only ones that can save ourselves is their first reactions to make us more vulnerable to attacks from bad people?
What about pledging allegiance to bad people do these people not get?
San Bernardino has some of the toughest laws in the country, how’s that working for the victims?
What we need is more kneejerk reactions.
So what ever happened to those “3 white males in body armor”?
Obama, the best gun salesman EVER!
That was important when it was 3 white males, but once it was learned it was muslim, then they shut up.
Don’t forget the “long guns” comments by the Lame Stream Media at every turn… agenda misses no opportunity to be heard!
Until Jim Cramer jumps off the Brooklyn Bridge, we have nothing to worry about.
Oh Michael, looks like you’re going to be wrong for 6 years. No collapse for you, even after yet another collapse prediction by the end of this year. I just wonder how long people will keep reading your false prophesies. Better sell all the ad space you can now.
And just think we are only told what they want us to know its going going gone. Besides cant take it with ya. Just buy more ammo u b ok hell or high water
Malaysia is down 17% ….#7
Then Malaysia is down 10% …. # 16?
Which is it? The Fat lady ain’t singing until spring 2017.
It won’t make much difference to middle class investors except to those who are beneficiaries of pensions plans and those heavily invested in the stock/bond markets. I complained to my IRA fund manager it seems when the market goes down even a little my plan looses big, but when the market goes up a lot my plan barely grows; always an excuse. But he is doing alright, he is making more money off my plan than I am. I closed out one fund and will soon do the other before it is too late. Sorry to get sidetracked. I just can never get enough good information. The super wealthy don’t have that problem, they get all the information; and let’s not fool ourselves, this includes inside information. No one can get the information they have. When the market reaches the point where it has been played out so it can no longer be sustained the middle class will be stuck holding the bag, we’ll be the last to know. Middle class investors will be wiped out, people expecting their full pensions ( both public and private employees) will lose out and probably only receive a fraction of what is due, if at all. But the insiders will be long gone with their fortunes intact. They will have milked dry all types of pension funds and tax-deferred accounts. In the last housing crisis more than a few “super investors” took vast amounts of lousy and underwater mortgages for almost nothing, bundled them into new investment instruments, had their crony friends give them high investment ratings, sold them and made gigantic profits from people who were not insiders and were falsely assured they were good investments. Eventually buyers discovered the truth of their real value and lost billions and billions of dollars, and ended up having no recourse. Trillions of dollars are missing both in both the public and private sectors, it seems no one knows what happened to it (like we all believe that). Wealth has become hideously concentrated to a very few. When the financial crisis arrives many banking systems will do their bail-ins so we won’t even be able to access our accounts, they will just take possession of our money which actually little is there anymore anyway. Just get your money out of the system before it is too late.
Malaysia was listed twice. One was down 10%, the other 17%. Maybe East Malaysia and West Malaysia.
If you are attacked like thet and are not packing you are screwed help is minutes away and when they finally get there there they are just a mop up crew………
Meanwhile, the DOW is heading sharply back towards 18,000.
Which is good considering most retirement accounts depend on it for survival.
Collapse there means boom here, at least so far.
Wot you mean you cannot just keep printing money at the FED (jewish owned bank) and keep lending it out to the US government at interest to make everything better.
Well blow me down i thought the money tree could keep bearing fruit for ever and ever.
if debt was the problem in 2008 then repayment was the solution but if we can just start a war then people will forget they own jack shit and are all in debt up to there eyeballs.
Will we ever know the truth of anything that is really happening in this little
world of ours? Does it really matter if you do not know Jesus as your Savior?
You will not go to the Kingdom of GOD, you will be totally destroyed and
It will be as if you never existed! That is the second death! Think about everyone!
Once you have made your decision that affects your eternity, then it is time
to prepare for whatever calamities will befall us! Praise the Holy Creator Father!
Shut the f*ck up you f*cking f*ggot. You think if God existed he would let all the sh*t that happens on this planet, his planet, happen at all?
Oh go ahead, give me your bullsh*t speech about how this is man’s fault and not God’s. You’re a mental midget and God isn’t real.
Just remember man: when you can’t face reality, there is always God.
Also Jesus got off easy. I’d take a day on a cross and a weekend in hell than living in Jewmerica for the rest of my life.
You. Suck. F*ggot.