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IPFS News Link • Economy - Economics USA

Recovery: Caterpillar Ask - What Recovery!

Caterpillar Inc Reports 3 month dealer statistics; North America February 2010 DOWN 30%, January 2010 DOWN 40%, December 2009 DOWN 46% I thought last February was pretty much "the depths of Hell" when it comes to the economy and heavy industrial orders? That's what we've all been told, right? That the economy bottomed last winter and spring and it's all sunshine and great days ahead, yes? Well, then how come we're seeing huge decreases from last February's run rate in one of the leading heavy-equipment manufacturers' sales everywhere except Asia, and there we're not seeing gains - just flat sales. Various forms of fixed investment are coming back, yes? We don't need anything like big diesel engines or earth-moving machines to actually construct any of that sort of fixed investment, right? The ToutTV pumpers wouldn't be lying, would they? (Let's see when this is picked up on CNBS - of course you know the answer, right? NEVER!) Disclosure: No position in CAT.