We lost something like $9 - 11 trillion in 2008 but it was localized to American markets and the mortgage bubble...more or less. It was VERY expensive and fundamentally altered some things here in America, but not near as much as it actually should have [ I'm looking at you Wall Street ]. But overall, people still went out to dinner and lived their lives. Kids went to school...yada yada.

We aren't there yet, but this has the potential to be the most expensive & long lasting event in human history. The entire world on standstill for months on end with the effects to be felt for years. Many, many trillions world wide by the time its all said and done. That's a big hole to climb out of. Things are going to suck ballz for a while.