here to break it down, jonas manages ferries from max fund. he is -- jonas max ferris, a fox business contributor. what due think about the selloff? it is getting serious. >> federal government getting out of the way is part of the problem. melissa: you're saying them getting in the way the is first place. getting in too deep with no clear exit. i hear what you're saying. emerging markets are thinking because they're reacting what is going on. >> that is the official reason. the real reason, emerging markets are falling apart. 10 of hundreds of billions of dollars gone into these markets last 10 years because wall street sold decoupling. america was in decline. these stocks will do better and their economies will grow and our currency will collapse. the exact decoupling happened over last two years. our stock market was hot, up 32% last year. their markets are going this way and looking at a chart. people are reassessing this, changes from pimco all the way on down where they're getting out of emerging markets, fund investors pulling 10 billion