Wow. Major dose of reality. For Th’ Gaussling, this economy fiasco just went from made-for-TV to in-your-face reality. Big chemical producers are pitching 10 % chunks of resourceful humanity overboard. They are burning down inventory levels, pushing back raw material purchases, and stopping capital projects. The reciprocal of the old saw about “a rising tide lifting all boats” is in effect.

Well, everywhere except government. Government seems to continue to build up debt obligations into the tens of terabucks range. Now is a good time to have defense related products- things that have MIL SPEC on them.

But now is when it really sucks to be in advertising, RV sales, and office supplies.  Advertising budgets are among the easiest to cut when the flancing of blubber begins. 

This is a great time to hire. Lots of job candidates out there with degrees. I’ve been getting Hail Mary resumes from people wildly disconnected from chemistry.

If you are a well paid 50-something, golly, you might as well put a target on your back. This is one of the ways companies can re-jigger their staff to be rid of those expensive, middle aged folk who burden the health insurance pool with those costly diseases. In a recession, a company can use the situation to reset the payroll and have a chance to restaff with cheaper worker bees when things pick back up. That is, if there is anybody left.