Nissan Motor co may close down in USA
1.  Biggest Car Rental company ( Hertz)  filed  for  bankruptcy  – they also own Thrifty and Dollar
2.  Biggest Trucking company  ( Comcar)  filed for bankruptcy  – they have 4000 trucks
3.  Oldest retail company  ( JC Penny)   filed for bankruptcy –  to be acquired by Amazon for pennies
4.  Biggest investor in the world ( Warren Buffet) lost  $50B  in the last 2 months
5.  Biggest investment company in the world ( Blackrock ) is signalling disaster in the world economy – they manage over $7 Trillion
6.  Biggest mall of America ( Mall of America)  stopped paying mortgage payments
7.  Most reputable airline in the world ( Emirates) laying off 30% of its employees
8.  US Treasury printing trillions to try to keep the economy on life support – their balance sheet will become $7 T+
9.  Estimated no. of retail stores closing in 2020  –   12,000 to 15,000.   Following big retailers have announced closing:
      —      J. Crew
      —       Gap
      —       Victoria’s Secret
      —       Bath & Body Works
      —       Forever 21
      —       Sears
      —       Walgreens
      —       Gamestop
      —       Pier 1 Imports
      —       Nordstrom
      —       Papyrus
      —       Chico’s
      —       Destination Maternity
      —       Modell’s
      —       A. C. Moore
      —      Macy’s
      —      Bose
      —      Art Van Furniture
      —      Olympia Sports
      —      KMart
     —       Specialty Cafe & Bakery
   and many more…………….
Massive mortgage loan defaults, credit card defaults and auto loan defaults are expected
The real impact of Covid -19 will be known in the third quarter of 2020.
The unemployment claims reached all-time high of 38+Million – unemployment is over 25% ( out of 160 million of working population, close to 40 Million are jobless).   With no income, consumer demand will fall drastically and the economy will go into a free fall .
This is just USA.. similar things may happen in other parts of the world .

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