[cripplecreek]

While the defense contractors listed here profits might suffer they will still have major contracts. I don't know if crushed is the right word here!! Downsized is more like it.

That in itself might actually spur job creation. When the automotive supplier I worked for downsized, the job went to a shop on the other side of town that did the job cheaper. Most of the people who were laid off from our shop were given preference in hiring at the other shop because they knew the job.

[WildHighlander57]

Downsized, as in Los Angeles 1989 to 1992?

All the major aerospace companies were laying off in massive quantities.

Whole departments were eliminated, from the manager on down.

It was brutal and many people never were able to get back into the industry when it finally started to recover.

Entire shopping malls closed because the factory workers that shopped there were out of work.

That mall is still closed.

This time if it happens again, I don’t think folks will ever work in the field again, due to that “unemployed need not apply” meme.