I’m sure by now that you’ve seen that Trump has pulled the US out of the “Iran Deal”. Time will tell how this truly affects us. Many think it’s making the world and the US less safe.
We are already starting to see the ripples of this decision as American companies start to lose contracts because of Trump’s rash and thoughtless actions. The largest affected today is Boeing with a loss of about $20 billion in contracts. With that loss will come a large loss of jobs throughout the United States.
Boeing makes aircraft and contracts the making of different parts of their aircraft to other companies like Pratt and Whitney, UTC Aerospace Systems and others like them in and out of the UTC corporation. Those companies rely on their large contracts with companies like Boeing to keep their thousands of employees, employed. They also outsource much of their machine work and NDT testing to smaller companies employing thousands throughout the country.
So Trump’s bad decision yesterday, is affecting large companies like Boeing, which will trickle down to slightly smaller large companies like UTC/Pratt/UTAS, which will trickle down to all of the smaller machine shops, test houses and the like that they contract their work out to.
I guess Trump was right. Trickledown economics works. Just not in the way he originally outlined.