By their very nature, declining businesses--particularly unionized ones--tend to protect their older members and encrusted bureaucracies more than they look to the future.
Out-of-the-money puts on the index are generally more expensive than equally OTM calls because more investors want to protect their stock portfolios on the downside by buying puts than tend to speculate on a rise in the index.
Those public servants deployed globally to protect us are an exceptionally small percentage of our population, and we tend to remain unaware of the burdens they shoulder on our behalf, often in hazardous conditions.