A GUTTED WORKING MIDDLE CLASS
- JOB LOSSES – DIRECT COVID-19 IMPACT
- AIRLINES: Many will not survive or will be forced to merge with job losses. The International Air Transport Association predicts airlines will lose at least
- TRAVEL: Cruise Ships, Rail, Car Rentals all facing serious protracted problems. Hertz has filed for bankruptcy while Royal Caribbean Cruises’ Spanish cruise operator Pullmantur Cruises just became the first Cruise ship operator to file for Bankruptcy
- HOSPITALITY: Hotels, Motels, B&B’s, Vacation Resorts will see traffic impaired.
- TOURISM: Highly dependent areas such as Europe will be crippled.
- EVENT INDUSTRY: NFL, MLB, NBA, NFL etc, International Football etc will be crippled. Disney parks in the US and Europe still unable to open.
- OTHER: The coronavirus outbreak has triggered unprecedented mass layoffs and furloughs. Here are the major companies that have announced they are downsizing their work forces.
- JOB LOSSES – INDIRECT FROM FORCED COST REDUCTIONS
- BANKS & FINANCIAL SERVICES: HSBC Plans To Cut 35,000 Workers: This May Be A Harbinger Of What’s To Come
- TRADE SERVICES: Endless service providers from Law Firms to Tattoo Parlors are cutting staffs on expectations of slower revenues.
- RETAILERS DON’ SEE DEMAND LEVELS RETURNING SOON ENOUGH
- RESTAURANTS: Two Million Restaurants Worldwide At Risk Of Collapse
- STORE CLOSINGS: U.S. retailers could announce between 20,000 and 25,000 closuresthis year, according to a tracking by Coresight Research, with 55% to 60% of those situated in America’s malls.
- MALLS: Big Short on Malls Is the Only Distressed Game in Town – Bloomberg
- PUBLIC SERVICE WORKERS: Massive layoffs and pay cuts are likely coming to state and local governments as federal aid goes elsewhere. Even if government aid is forthcoming it only delays the inevitable cuts due to lost revenue (see Macro Analytics Video: Mainstreet Shock)
- ZOMBIE CORPORATIONS: According to the Bank of International Settlements (BIS) nearly 20% of all corporations are Zombie Corporations. It is highly likely many will not survive with massive layoffs with all being forced into major job reductions as lending becomes harder and more expensive.
- FALLEN ANGELS: Accelerating Credit rating downgrades due to expected slowing demand is lowering IG “BBB” corporations to HY credit ratings and therefore no longer allowing them to be Pension Plan and Insurance company portfolio holdings. The result is forced downsizing and layoffs!
FAIR USE NOTICE This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission from the copyright owner.
NOTICE Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. MATASII.com does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.