Watchmen: Chapter III - page 25

PAGE 25 

Panel 1:  Bernie’s statement that “Superheroes are finished” is a direct comment on what is happening within the world of the Watchmen.  “Masks” are being picked off one by one.

Panel 2:  A bit of the “real-world” pokes its head in as Bernie talks about the genesis of comic books in 1939 (Superman debuted in 1938, Batman in 1939) and the superheroes that – in our world – eventually saturated the market.

Panel 3:  Note the triangle on the delivery van – Veidt’s symbol.

Panels 4-8:  These panels are colored again with a various hues of red, symbolizing the dire times coming with the headline that Bernie reads from the evening edition:  “Russians Invade Afghanistan.”  We also see that Bernie’s philosophy has changed from being self-sufficient to looking out for one another.  With the Russians pressing in light of the fact that Dr. Manhattan has left, it’s necessary for everyone to come together.