How would you interpret the word “this” here? Dear Shepherd, All right pal, keep your hair on. Probably this is not going to be the salutations you’ve been waiting for. Merry Xmas and all that. Things have changed here, it can’t be helped. I collared a job in ads. No fish! Me myself, in an office full of neck ties, and let me tell you, these cats are steaming. I don’t want to be the jerk that can’t keep up. … How would you interpret the word “this” in the sentence “Probably this is not going to be the salutations you’ve been waiting for”? Does it refer to the preceding sentence or the whole letter? Thanks. And this excerpt is taken from The Lacuna by Kingsolver.