The economy from an Associate.

Subject: The economy

From an associate of mine:

By the way

As I mentioned in the past, I own a chemical and engineering company that deals directly with manufacturing across a good portion of USA. The slowdown in the economy has begun in earnest. I’ve had one production project cancellation and requests for quotes have almost ceased. All through the lockdowns ,business stayed reasonably strong but that has changed in the coarse of the last month. My bread and butter business is industrial production chemistry and that is down 25%.

My business is a good harbinger of the economy as we are in General manufacturing, medical, military, aerospace ,automotive and food.

It’s a stark comparison of 4 years ago when all cylinders of the American economy ignited. All the business leaving China was a Godsend. As long as Biden doesn’t roll back Trumps China policy it might hold off a major recession but I’m not hopeful.

I’m already seeing chemical raw materials increase with a dozen price increase letters on my desk last week. Increasing taxes will only add to the problem.

We grew during the Obama administration but we were a fifth the size. A bit more difficult now as I forecast I’ll be laying off some good people in the near future. No choice really.

Let’s hope common sense prevails in Washington but I’m not optimistic.



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