Predictation for the New Year
(1) A hail of pink slips. The unusual number of layoff announcements
during the December holidays foreshadowed the main event, as most businesses seek to reduce headcount by 5% - 10% — and seriously affected businesses do much more. Like retail, as they close their marginal stores.
(2) Retail bankruptcies. The extraordinary number of retail bankruptcies during the Christmas shopping season foreshadows the tsunami hitting in the first few months of 2009.