Welcome to the recovery!
– Welcome to the Recovery (New York Times, by Timothy Geithner, August 2, 2010)
– For Caterpillar, This Is What The “Second Great Depression” Looks Like (ZeroHedge, May 20, 2015):
To put Caterpillar’s ongoing second great depression in context, during the Great Financial Crisis, CAT suffered “only” 19 months of consecutive retail sales declines. As of April 2015, this number is now 29, and there is no hope in sight of seeing an annual rebounce any time soon.
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Well, during the Great Depression, there were a lot of family owned farms that used their equipment. Today, there are a few, over sized Greedy Gut farms that took all the profit out of smaller farms….and they use less equipment….and likely buy farming equipment from over seas vendors……
It is a different world, our entire economy has been swallowed up by a few greedy guts who run roughshod over the rest of us……There is no viable comparison to the 1930s……….we had say over our government in those days, and our currency was backed with gold. We had laws that prevented greedy guts from doing what they do today with abandon…….