4000 employees?! FOUR THOUSAND?
That is insane. They absolutely have to be using this as a smokescreen for dumping dead wood and cutting unproductive types. How many pathologists did they dump?
See folks when this "over" and we finally accept a new normal of roving lockdowns across the country for the next 2+ years, S&P to 1200 easily.
We maybe in double digit unemployment for years...and years.
1.) Collapse of commercial RE as 80% of commercial leases are unpaid and default rates go beyond 15%
2.) Collapse of municipal bond markets as low interest return no longer correlates with risk
3.) Collapse of consumer spending and total collapse of corporate bond market even with Fed intervention
---Stock market down drafts 50% from current peak---
4.) Collapse of residential RE as defaults spike to beyond 10%
---Market corrects down another 25% after a short rise, S&P settles below 1000 for first time since 2009--
5.) Displacement of citizens as people flee rolling lockdowns in urban areas, increased ability to work remotely, massive decrease personal safety combined with no cultural opportunities of any worth. Cities literally are now obsolete human constructs and will eventually collapse into large collections of massed poverty.
6.) New normal of a much more spread out American population, increased flows into Montana, Wyoming, Alaska, Idaho, Utah, Dakotas, Iowa and Vermont, massive drop off in people living in NYC/New Jersey, Philadelphia and Chicago which all become massive Detroits, Professor Thomas Sowell coins this transformation: the "Detroitification" of American urban slums.
7.) Largest expat movement in US history begins as even formerly low density places see unacceptable influxes and the corresponding virus blooms. Author Malcolm Gladwell coins this mass out migration the "American Diaspora."
--Government admits singular vaccine not possible as capsid and spike protein mutation through antigenic drift renders initial vaccination program useless--
8.) Rolling lockdowns finally end permanently in all states in early 2023, economy begins slow recovery.
9.) S&P recovers to 3394 in the year 2025 marking important psychological milestone for the new 1st term president Donald Trump, Jr. who is still mourning his father's death at the end of his 2 terms in office. China's Communist Party collapses from military coup, EU officially dissolves along with NATO and Russian leads a 2nd Warsaw Pact initiative in Eastern Europe and unites this with the military government in Beijing hailing this as the only viable counter-weight to the American superpower.
10.) Democratic Party devolves into 2 sub-parties after catastrophic losses in the 2024 election cycle: Progressives and Liberal party both of which become minority parties due to declining population bases in former stronghold states. Republican party likewise splits into a Libertarian party and Conservatives officially ending the 2-party system which had lasted since 1796. Numerous formerly large urban centers become walled "super-prison cities".
--AOC retires from politics in 2028 after having "realized the Green New Deal on the wings of the most unpredictable angel: COVID-19".--
11.) 2030: Human population drops for 10th consecutive year, Elon Musk hails the Amazon-Google-Apple (The AGA) conglomerate's creation of true consciousness digital artificial intelligence as the "end of the human race."
www.cbsnews.com
