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Forget Recession: According To Caterpillar There Is A Full-Blown Global Depression
One wouldn't know it by looking at CAT stock, which has gone very much nowhere in the past 5 years thanks to just one thing - an exponential increase in the company's share buybacks...
... but the company's publicly disclosed monthly retail sales have just one message for anyone who follows them: forget recession, there is a global depression going on.
And it is not just in China as many would like to scapegoat: in June, in addition to a -19% drop in Asia Pacific (following a 30% Y/Y plunge a year ago, which in turn followed a 21% drop in 2013), US retail sales posted their first Y/Y decline since February, dropping by 5%.
But the real depression is in Latin America, where CAT retail sales plummeted by a whopping 50%: the most in reported history, and follow an 18% drop from a year earlier.
Summarizing it all, after an increasingly shallower series of dead CAT bounces in the past year, first thanks to Latin America, and then the US, global retail sales just dropped by 14% - marching the biggest Y/Y decline since the financial crisis.
And the cherry on top: there has now been an unprecedented 31 consecutive months of CAT retail sales declines. This compares to "only" 19 during the near systemic collapse in 2008.
In other words, if global demand for heavy industrial machinery, as opposed to unemployed millennials' demands for $0.99 Apple apps, is any indication of the true underlying economy, forget recession: the world is now in a second great depression which is getting worse by the month.
Source: CAT
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So CAT may go the way of Ford's Nasser: CEOs Borrow money, run up debt , buy back shares and increase the stock price, load up on the stock options and proceed to nearest bank? Other shareholders and workers left amidst the rubble.
Ditto with Health Care Providers (Hospitals, HMOs, who will fall first), then to the health care insurers (Humana, Cigna, UNited Health etc) who will eventually fall once there is no one left to dig the holes (sorry got to thinking about Dave Mathews Band's Song "One Sweet world ..."no one left to bury here, no one left to dig the holes") , I mean, pay the premiums at which point those CEOs will have loaded up the stock options and redeemed at the nearest bank, and spent their loot before hyperinflation nullifies it.
Phukking monster Pussy Texcess C opps in action:
http://www.nytimes.com/2015/07/22/us/sandra-bland-was-combative-texas-ar...
Stocks just about to hit green for the day!!!
That escalated quickly....
FUCKING BULLSHIT!!
Ha ha! One of my partners said "recession" twice in a meeting this morning and both times I corrected him by saying "depression" in front of everyone.
Forwarded vindicating article.
Thanks again, Tyler.
Your nail gun is in the mail.
Is it loaded?
Dumb article.
It's only a depression for the slaves. The owners are eating very well, thank you.
problem : declining US sales
Root cause: Governor Gary Johnson: My Neighbor’s Dogs Have Created More Shovel-Ready Jobs Than Barack Obama (Video)
https://www.youtube.com/watch?v=sPYOvOcBgOg
At the FOX News-Google GOP Debate Governor Gary Johnson says his neighbor’s two dogs have created more shovel-ready jobs than Barack Obama.
Solution : CAT needs to lay off its CATs, and hire more DOGs.
Could it just be their machines are expensives? The last large road construction on the NJ turnpike had a few CAT machines but at least 3x as many other ones bearing some other mfg. which names escapes me now.
Kubota. Cleaning Cat's clock on price. Cat is yet another US manufacturing company in decline because of a myriad of reasons: government regulations, dollar strength, company complacency, uncompetitive labor costs... True free trade will level the standard of living for all countries and peoples of the world; the US standard of living must plummet to reach equilibrium. Not good. The only question is: Will Americans accept their fate in that scenario?
Well, Americans hasn't done shit about it yet!
Oops. Meant Komatsu.
Bull.
Proper policies (i.e. taking Obama's bootheal off the U.S. free market) will result in an increase in the standard of living for EVERYONE. It's how it's worked over the last hundred years, until recently.
Minion: You called sir?
BHB: Yes. CAT is doing too well. Find a way to destroy them.
Minion: Take a look at these Kubota brochures.
BHB: Give them a tariff-free, UST supported discount!
Minion: As you wish, it shall be True. May I leave to work?
BHB (ziiiip) Suck this first.
Minion: At your command, Sir.
US standard of living is far below Northern Europe's
''Coming from Northern Europe back to the USA is like leaving the Jetsons and returning to the Flintstones'' -NYT reporter in 2011.
Or is it just that Americans want a Tiffany product at a Walmart price?
You mean Americans work for more than fifty cents a day?
What about the competitors of CAT, are they down too?
MOO is the agribusiness ETF. It is making a series of higher highs and higher lows. MOO is going higher.
The decline of CAT means that CAT is having problems.
When's the bailout?
When you have a population of super poor and ultra rich, it makes sense that only businesses that cater to these demographics can be successful.
check McDonalds and WalMart
i agree with you, zerohedge. There are signs that The Plan B is in play becase you and I are not the only ones who know this.
QE4 is coming people....... GET YOUR GOLD & SILVER NOW!!
Oh, bullshit. Look at the stock 'market'.
Apparently someone did not recognize the sarcasm..I thought it was funny because it is true. Things are bad when the plunge protection team is working 24/7 just to maintain current levels. Goldman Sachs said the stock markets would grow a modest 5% this year from the highs at the beginning of the year, which on the DOW was 18,233 (approximately) and they can't keep it above 18K.
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It is unwinding as they may have run out of tools and if the FED does raise interest rates (if you call 0.25% a raise) they will cause complete havoc as the "dollar" would rise and kill more corporate profits at a time when profits and revenues are declining worldwide. Not to mention the carry trades the banks are drunk off of that would unwind in a hurry. I say they will NOT do it unless they intend on collapsing the bond market, the equity markets and the rest of the world.
they dont want collapse, they want an orderly decline. like the one in effect for the last hundred years
We are a huge thorn in the side of THEM.
"Oh, look honey, another laid-off CAT guy. Please give him a dollar."
"OK, but what is he gonna get with it, Karen?"
The government can't hedonically adjust the number of backhoes sold worldwide.
Looks like CAT world retail sales Y/Y change suggests not a "panic depression" but a "controlled depression"...future does not look promising.
They are really pimping Apple on Marketwatch.
Solution: upgrade those old military bulldozers and level more settlements!
Mosque Armories? I'm down wit it.
Use bulldozers to level the FED, all synagogues and JCC's
Remember that Obama used them as the model of recovery & "job creation"; Obama wasn't joking...he just forgot to tell you the intended direction. Hope you all caught this recent statement by Obama, that we have NOT funded ISIL or ISIS or IS; whatever is the catch-phrase of the day.
------------------------
Obama vows to speed up ‘training ISIL’ https://www.rt.com/usa/272470-obama-training-isis-slip/Axelrod: "You fucked up!"
Bath House: "Freudian slip."
"I don't care. The Tribal Elders are upset. I hate to being you this message, but you are on thin ice."
They have come to the point where there are no give and take markets. It’s just total control by the financial despots and their mouthpieces. To me this can’t last much longer. This CAT story is a perfect example. I remember Obama and the CAT CEO, his new friend, praising the future and using Caterpillar’s success as evidence.
This cannot continue. This story is exactly where we are. And, now, they’re having a hard time lying.
Evidence? Here’s Future of Capitalism (2011) with “The President’s Polluter Friend”:
If one had to name a company that was one of President Obama's favorites, Caterpillar would have to be high on the list. On February 6, 2009, Mr. Obama named the company's chairman and CEO, Jim Owens, to his Economic Recovery Advisory Board. On February 12, 2009, Mr. Obama flew with Mr. Owens aboard Air Force One to Caterpillar's headquarters to tout the stimulus bill. On November 24, 2009, Mr. Owens and his wife were invited guests at Mr. Obama's first state dinner at the White House, in honor of Prime Minister Singh of India. On February 7, 2011, Mr. Obama praised the company, which is based in the president's home state of Illinois, in a speech to the Chamber of Commerce.
In November 2010 Douglas Oberhelman took over from Mr. Owens as chairman. Mr. Oberhelman has been more critical of the Obama administration. Federal Election Commission records show that Mr. Oberhelman donated to the McCain and George W. Bush presidential campaigns and to the National Republican Congressional Committee and Illinois Republican Party but not to Mr. Obama's campaign. Mr. Owens also is an active environmentalist, serving on the board of the Illinois chapter of The Nature Conservancy and as a Trustee of the Wetlands America Trust.
That's the context in which, late last week, the Environmental Protection Agency, the Department of Justice, and the state of California Air Resources Board slapped CAT with a $2.55 million civil penalty for violating the Clean Air Act by shipping "more than 590,000 highway and non-road diesel engines without the correct emissions controls."
The case is to be settled via a 27-page consent decree.
It raises the following questions:
Caterpillar's statement on the whole thing is as follows:
Caterpillar fully cooperated with the U.S. Environmental Protection Agency (EPA), California Air Resources Board and Department of Justice in this matter. As the decree indicates, Caterpillar denies any wrongdoing, but does agree that the decree represents a good faith effort between the parties to resolve their differences and avoid potentially lengthy litigation. Caterpillar is committed to following the terms of the decree.
by Ira Stoll | Aug 4, 2011 http://www.futureofcapitalism.com/2011/08/the-president-polluter-friend
This is so stuck in the past. The modern day economy doesn't need poison-carbon emitting machines to do the work. All we need is to push a button and our 3D printers magically dig ditches and construct buildings for us! Silly CAT.
And let's not forget an Oppressed Mexican.
Can Yellen convert a depression into a never ending asset ascension all on her own?
Maybe the new blonde from FX has a rocket in her bra like a terrorist financier --who is drunk on "whatever it takes" Squid beer-- to launch the Nasdaq back to dream territory.
WHen Apple, Google, Facebook and MicroS hold the world in their arms.
"You'll never walk alone" you steroid pumped wankers, when the guillotine unfurls its naked edge, ready to sky fall like a Tour de France hallucinating ride down Alpine slopes.
Ride tall, ride lonesome, until the final call.
Now the war on sound money is hitting the big guys. The American Dream, without a sound money system, is dead. Our monetary system is the very heart of our economy, locally and globally.
We are in the last chapter for paper currency; it has become a fight between the banks and value. An unsound monetary system rings the death knell for America as the “land of opportunity” and liberty.
What has the Fed wrought?
For one thing, as Ron Paul explains, “Congress could not get away with spending beyond our means year after year if we did not have a Federal Reserve System ready to finance it all by purchasing bonds with money it creates out of thin air.”
For another, there would have been no "busted housing bubble" with devastated homeowners in the streets.
For another, savers would not have been ruined and looted by inflation.
And wage earners would not be mired in an eroding standard of living brought on by the ravages of a boom-bust monetary system.
The doors of small businesses would not have been shuttered by Fed-financed monopolies that have destroyed competition.
Sadly, all of the above are America’s “Forgotten Men.”
What prosperity America now enjoys is a false prosperity, an illusion brought on by the Fed’s low interest rates. Costless? It is a charade, risking hyperinflation and the destruction of the currency, awaiting the next devastating “correction” – adding again to the countless number of Americans ruined by the Fed’s financial “bubbles.”
Who will be the Fed’s latest victim, the next “Forgotten Man”?
Warns Ron Paul: “It is essential that Americans be given the chance to escape from this system and protect themselves from possible financial ruin, by being able to use gold and silver if they so desire. If anyone would rather continue to transact in the depreciating dollar, he would be free to do so. But anyone who prefers a currency that holds its value and won’t become worthless before his eyes just because his government ran the printing press one too many times would have real options.”
There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.
Ludwig Von Mises
And are any of the “presidential” candidates even addressing our Federal Reserve “System,” the private system that’s responsible for our financial mess--impoverishing We the People to advance the Oligarchs? And Congress won’t even audit the Fed. Why, because our “representatives” have a vested interest in perpetuating the “system.”
"I went to bed last night with Markets, but this morning I woke up in a Soviet."
*****
"Reggie, my plans are nearing fruition. If I could only round up YT and get him out of the way I could Rule as Idi Amin!"
"Why not capture them like on that Planet of the Apes movie and stash them in old Wal-Marts and remote military bases?"
"Great idea. But that's too many to feed since they outnumber us. Look up Xyklon Gas from NAZI Germany, I have an idea. As sure as I am president, YT will fold and march to his Death, hahaha."
"But, Bath House, many YTs are Gay."
"OK, we'll save them. And the guys who know how to fix stuff."
What you postulate is true. However, it would require a huge percentage of non-co-operation or an outright secession or civil war.
Perhaps, when TSHTF, we will see who is ready to fight in one way or another for freedom or who will bend their knee and be decapitated by Islam.
I am sure things are weird with the global economy and all, but it is worth examining CAT loss of market share from Chinese heavy equipment manufacturers.
I remember in the 90's China had very little in the way of exportable heavy equipment. Then here comes CAT and all their smart MBA to go into China.
The only thing that happened was those PLA managed SOE reversed engineered CAT product line and bought it for themselves and their development and now sell it half price to the rest of the world.
Globalization hurts - even for big operators like CAT.
Like I said. I watched it with my own two eyes. CAT execs herded around China with this weird look in their eyes like they just got caught fucking the neighbor's cat.
This "strategy" hits everybody, including GS and fundamentally why you don't ship your basic research and heavy industry offshore.
The Chinese are playing chess. Americans played checkers.
"Hahaha, Wo Fat, we copy Cat and name it Bulldog. Sell to everyone at half price! Also add half-quality so owners buy maintenance contlact!"
"You will get a medal from the Central Committee, Xi."
"I want Gorld."
“Let your enemy come to you." -- an old Chinese proverb
The Chinese have always played their enemies for fools. And they are playing America’s oligarchs and the West for fools.
China is using the economic transfer of America’s wealth and innovation to her shores to realize her plans as a world superpower. In the same way, Maoist China preserved its Soviet alliance for many years, using Russian economic aid and military protection to build an ultra-secret military-industrial development while transforming itself into an economic power house.
The globalists who rule America’s economy, interconnected to the Fed but to no country save perhaps Israel, have de-industrialized America. They not only offshored America’s manufacturing base solely for labor arbitrage to realize huge gains for themselves, but they gave away America’s technology, patents, research, high-paying jobs and her future for a pot of porridge; in short, they destroyed America’s justification for market capitalism.
The result is an industrialized Red China rapidly surpassing U.S. hegemony - a threat to world freedom as Americans have known it.
America will not “recover” unless the people oust this Congress and the Fed. Her employment opportunities already are too far undermined; her rise in her consumer income already has stopped. She has no future in her present condition.
“Globalism is a wrecking force of amazing power to wreck.”
They no doubt left out the crap electronics in the copies as well. The quality is also most likely better, as well as the price.
And the pen is mightier than the sword, USSA still has to discover this.
Word going out to it's vendors from CAT is that come November and December things are going to be very quiet (meaning absolutely dead). They are saying that they see no improvement for much of 2016 either. I don't know how bad things are going to get, but if what they are saying is correct. It's going to get very bad. Many of the suppliers around their facilities in the midwest are cutting costs like crazy to try to hang on through whatever is coming.
I'd love to paint a huge Confederate Flag on one of Cat's big dozers,and ram that thing right through CNN's broadcasting studio..
Be a little more "PC" and also accurate: Use a Gadsden Flag.
Oh they think that one is racist too.
Stars and Bars? There are many CSA flags...how bout the Quantril Raider Flag?
I think all ZH has known we were in a Depression for at least the last 5 years.
Despite all the CBs "papering" over the problem, it is easy to find the data supporting this assertion.
The only link waiting to complete the chain of Depression/Default is Public Confidence, hence the 24/7/365 Propaganda by the Banksters Who Own All Media.
Quite true. I had an AFLAC rep walk into my shop this morning trying to sell me various types of insurance. After I reamed her over my hatred for banks and insurance companies, I asked her if she owned any of the products?
I reminded her that after my ridiculous health insurance premiums and business insurance, etc. that I have no interest in anything.
I reminded her that banks and insurance companies own the tallest buildings in the world for a reason. Then pointed toward the door.
Spot on my good man. As I have put it on ZH for several years:
"there is no recovery, there is no growth"
And as I have put it since I began commenting at zh, the US is in a BOTTOM UP DEPRESSION.
As the media really doesn't care what's happening to America's poorest, they only see how well the banks and brokerages are doing.
Bottom up depressions are a different kettle of bouillabaisse.
Thanks to Bernanke and QE, this may be the first bottom up depression in recorded history.
Thanks, that's a very accurate description of what's happening.
Well if the entire system wasn't based off stupidity, such as this never-ending growth story, maybe we could have a different system. I don't know, say one based on goodness towards mankind and survival, instead of fucking everyone's retirement with quartely reports every 3 months?
This system is imploding because it is stupid. Plain and simple.
You still don't get it. It is not the system in this case, it is the people behind the system. I still believe in the notion of small government and free markets but not run by thieves and liears. My mother use to say "El mono aunque se vista the seda, mono se queda" Which I will transliterate to "It is not how you dress them is what they are". The scumbag running the govt and banks are what they are. Nothing will change until we are willing to do something about them.
All true but the only thing "we" are going to do about the "system" is to starve it of our financial contributions. I read today that ESPN is signing a new multi-billion dollar contract so we can all be absorbed with the NFL, NBA, etc.
If "we" are going to change anything at all, it must start with how we spend and where we spend. That includes taxes of all flavors.
Nothing is "changeable" from my perspective unless we wise up and cut off the beast and conglomerates.
No, I get it. I used to think the way you do. Then I evolved.
https://www.rt.com/business/310451-gazprom-cnpc-gas-deal/
Schrodingers CAT.
The decline in Latin American sales still sounds like the work of the Chinese downturn, no? The raw materials going from LatAm to China, until they don't go that way as much anymore.
I am a retired American living in China. Because I worked on construction when I was younger, I have an interest in how the Chinese build things. In my travels, I see the biggest building boom in the history of the planet. Where are the CAT machines? They are conspicous in their absence. All day I see Komatsu,Hyundai, Hitachi, Daewoo/Doosan, Sany, Zoomlion, Longking, XCMG, LiuGong, Sumitomo, Volvo, Shantui and Chery working 24 hours a day, 7 days a week.
This bullshit from CAT is just that. They played their cards wrong.
I did a quick mental inventory of my home.
Dishwasher, Washer/Dryer, big side by side door refrig. microwave. Stand mixer, expresso machine, built in gas range, 3 LED monitors, 2 tablets, 3 smartphones, 1 55 inch HDTV (LED), power tools, lawn mower, chain saw, and all gardening equipment.
ALL made in Germany or Korea. NOT ONE thing made in the USA
I was just in Moscow and the same experience. 2 weeks and not one CAT machine...JCB and Korean gear.
The way traffic is down here in South America...I wish I could drive a D-9...
It takes a 5 year chart to show technical support for CAT at 70, down 12%. That would be DJIA 15,700, but my screens say it will be much worse:
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=cat&insttype=&freq=2&show=&time=12
This is why I frequent ZH, for the 'in the weeds' micro illuminating the macro. Thx Tyler
the DROP in S. America is coming from a huge slowdown in the economy of Brazil. and why? because China is slicing its imports of raw commodities. So the economy of Brazil is not exactly "rocking on".
If you are hoping for the "miracle of growth" i.e. China economic expansion, then bad luck - it dried up.
There is no "bounce back" from US consumers now. That engine of global consumption is dead forever. With China going "static" (i.e. a growth recession or worse), and Europe in the toilet because of EU problems, there is no new group of "global consumers".
YES, I do blame the Central Banks, including the Fed. And YES - I do blame the people who worked behind the scenes to prop up the markets and "save the system". Because when you shoot down the Free Market, then you have got no price discovery And without that, you will NEVER get a new group of global consumers.
THE GAME IS OVER for US consumers to be driving global business. It's over!
THIS SECOND GREAT RECESSION - more like a Depression - is where the world WAKES UP and deals wih this reality.
Recession, Depression, < need a new word to describe this cluster$uck >
Clusterfuck might do, imagine in the year 2134 they are in the middle of a clusterfuck and the talking heads on the holographic information portals are saying that they haven't seen a clusterfuck this big since the great clusterfuck of 2007 to 2048.
There is another factor which no one has mentioned yet: the sharing economy. While most of us have heard about Uber and some other big sites; it makes a lot more sense to share a big ticket piece of heavy machinery which costs hundreds of thousands or millions of dollars than it does a car. And to the extent heavy machinery is shared, the lower the demand for new equipment.
corporate self cannibalism, the new normal
Easy fix: stop reporting monthly sales like MCD did. You're welcome.
All commodities - and especially Gold and Silver - are SCREAMING "Global defaltionary collapse just ahead" - as are any number of economic indicators (Baltic Fright, Electricity consuption, HY credit ...)
The US dollar will continue to rocket higher as the rest of the world economy collapses. And just wait for the CBs to start raising interest rates.
Can anyone offer an historical example of what happened when Central Bankers began raising interst rates in the face of a global deflationary depression?
Could the price of Gold, oil etc go to zero in a total "sudden stop" macro-economic heart attack? I would guess that the price of the USD in this environment is essentially infinity. So would it be possible if these trends continue for a single crisp $20 to - eventually - buy up all the real estate in California??
The Chinese had to stop building ghost cities at some point.
I guess we can all wring our hands and say woe is me. I just got a rejection email this morning from a PI firm for an insurance investigation position. This was a direct referral from a friend. They thanked me for my "impressive qualifications and experience" (meaning I was over-qualified) but had to go with someone else. I suppose it was someone younger, being that I'm 55+. And the position would only be part-time to start. And my primary skill set is IT (for the past 30+ years). I had a conversation in the process with the VP, Director of Operations, who was an Army airborne vet. I'm a Marine. Being a vet, interviewing with a vet, on top of a personal referral is still not enough these days. Agreed, we are in a depression.
I'm still waiting for results for another interview I had last week in Austin, for an IT position in Austin, from a NY firm opening a new branch. They are going to hire 2 to 3 out of hundreds of applicants. They conducted last week, in 2 days, up to 16 candidates face to face. I was one of the 12 to 16. I'm supposed to hear some news this week. I'm in Houston, where the economy is supposed to be peachy. Not from what I see, and have seen since the summer of 2012, my last layoff from an AT&T subsidiary.
I was watching Greg Hunter (the so-called former CNN alternative media free press) interview Nomi Prins (former Goldman Sachs). She actually got an audience with the FED. Supposedly the FED called her asking for advice. Here is the exchange:
https://youtu.be/132lK9W28Ok
I further comment in this discussion as fooser77. I let myself known here to all who will listen. I'm not just wringing my hands. I'm pissed!
Your story touches my heart. Our American society is sold on the world market while our political representatives deliver every day for the multinational globalists who seek out resources and low-cost labor around the world while turning their backs on the Americans who paid the taxes and, in your case, served in uniform for their protection.
I cannot tell you how the loss of liberty and the loss of representative government brings hidden tears daily to my eyes. I see the dire results everywhere.
Byron York recently wrote of the problem facing America'producitive-class in The Washington Examiner:
“The Senate Judiciary Committee recently held a hearing into abuses of the H-1B skilled guest worker visa program. Lawmakers heard experts describe how the use of foreign workers has come to dominate the IT industry, with many tech giants using the program to fire well-paid current workers and replace them with workers from abroad at significantly lower pay.
“”The current system to bring in high-skill guest workers ... has become primarily a process for supplying lower-cost labor to the IT industry,’ two experts who testified at the hearing, Howard University's Ron Hira and Rutgers' Hal Salzman, wrote recently. ‘Although a small number of workers and students are brought in as the “best and brightest,” most high-skill guest workers are here to fill ordinary tech jobs at lower wages.’
“Exhibit A in the abuse of H-1Bs was the case of Southern California Edison, which recently got rid of between 400 and 500 IT employees and replaced them with a smaller force of lower-paid workers brought in from overseas through the H-1B program…”
http://www.washingtonexaminer.com/silenced-workers-who-lost-jobs-to-h-1b-visa-abuse-quietly-speak-out/article/25
And, this, by a controlled government monopoly, as well.
"I'm pissed".
Keep voting. How has that worked out for the last 25 years? NAFTA GATT and what ever this latest assrape is called TPPP or something.
Gee if i didn't know any better I'd think our elected officials are not representing us.
LOL
Another excellent global example of the upcoming global impact from a global company and eventual market direction. If not right now because it is being propped up then later when that propping up is no longer sustainable and it collapses like a house of cards.
The impacts are not on everyone's doorstep yet. They will be soon enough along with the consequences for everyone of not acting to change it. Not just for themselves or country but Universally for the betterment of all.
1. There are increasing numbers of indicators showing the eventual direction of the financial markets each day.
2. The facts and evidence, both public and private, are tremendous and indicate an eventual financial collapse that will have farther reaching impacts than almost anyone can imagine.
4. The interconnected marketplaces significantly increase the risk of this being a major global event and the potential for one major e vent to trigger a global crash.
http://www.zerohedge.com/news/2015-07-21/smart-money-used-last-weeks-mar...
Get with the times CAT, quit making stuff and just play the stock market.
Now that Global Growth is sayonara, the only demand for heavy equipment is in the bath houses of San Francisco and Manhattan.
CAT should bring its expertise to penile implants.
Hmmm, given that Caterpillar is but one of many heavy equipment vendors, are all the other ones experiencing multiple months of falling sales? It may simply be that Caterpillar is losing market share on a global basis due to stiff competition from Japanese and Chinese manufacturers of heavy equipment.
We'll just have to wait for Tyler to tell us how the other heavy equpment guys are doing.
Or perhaps Vice-Charman's Fischer's recreation of the NIS with the USD is doing exactly what the text books tell us a strong currency will do to exports.
The world are fukkee-fukkee, no?
*************************************
edit
And if their sales and market share are rising?
Its transitory...
So on a personal level we should all be getting out of every debt including mortgages, since there won't be enough circulating currency in the economy to pay????
To Hubbs - All big companies have been sending more an more jobs to asia for 15 years, now with about 50% of middle class/professional jobs gone and another 33% still here but going to undercutting h1b visa holders the remaning 17% that still have a decent paycheck know the end is near.
re "Full-Blown Global Depression..."
Looks like someone let the CAT out of the bag. FUR enuf.
Thank your lucky stars that we have Hillary - The Peoples Champion - waiting in he wings to get the good times rollin' again
Hey there kids- unless you have ever bought and had to run any heavy equipment maybe you ought to velcro your lips shut.
Never operated or bought any CAT equipment. I just helped to design and build it.
CAT did a 180° from its primary emphasis being quality/reliability improvement, to cost reduction.
The effect this had on quality and reliability was predictable.
I just helped to design and build it.
So did I. The unions were a royal pain in the butt. Their rule book looked like a phone book. One in 10 was a steward and did no work ... just agitated. I was once in a test cell at their tech center instrumenting a diesel engine. I counted 14 people who had to be on hand just in case their particular craft was needed ... when any single one of them could have done what needed to be done ... as could I, but being non-union, that was prohibited.
When CAT designed and built a product from the ground up, like their excavators, the results were superb. They did everything they could to stimulate the workers and assure quality. The workers were in teams and the product moved on an air pallet. When complete, the workers had their names engraved on plaques inside the service doors.
They also took over many lines (e.g. Towmotor). The re-engineering required was astonishing. And bringing them up to product support standards was a real challenge.
I kept in touch with the people I worked with up through their retirement. They retired at positions of Vice President, Presidents of Subsidiary, Director of Product Support worldwide. The company just got better and better. Except for small contractors that can't afford the products, contractors swear by CAT.
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this is getting so repetitive...its like a woman whose tit is insatiable.
Capitalism, I mean "socialism" in ZH parlese, has the face of a "whore" who only knows one word of French : ENCORE ! She is the bane of patriarchal order!
Its what that unmentionable excrement, the Germano-jewish : Karl Marx, invented ; the man who predicted that capitalism was a disease that never stopped "giving" crises after crises, in the name of "invisible hand! "
A bit like the Church, or the other two Abrahamic creationist religions, never stopped warning Mankind that to not accept "eternal penitence" and the summary execution of all heretics and heathens to that effect , would condemn Man to eternal fire in the "over and beyond", what we call "eternal afterlife".
Like the proverbial biblical Eve, insatiable wife, having bit the Apple... who shouts : encore!
In the eyes of patriarchal order she was the MArxist whore! Not the other half of humanity!
The Abrahamic Churches and capitalism, two faces of the same scam in name of "Invisible hand!" The ruling ORDER.
Dogma, dogma, dogma... where has simple, empirical decency gone?
Its not decency that commands, its ORDER of "we be the Man !"