Mass panic, food and medical supply shortages, severe economic decline, sudden large-scale layoffs, hoarding, govt. mandated business shutdowns and activity restrictions, non-critical healthcare shutdown, national guard activations, sick, dead, and dying people around the world, all with no end in sight. In answer to the OP's question, I'd say that point has been reached...
Yeah sadly, I think I have to agree. Not TEOWAKi or anything but the economic effects are already severe.