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Forget Recession: According To Caterpillar There Is A Full-Blown Global Depression

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Submitted by Tyler Durden on 07/22/2015 16:00: 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.

Read More: http://www.zerohedge.com/news/2015-07-22/forget-recession-according-caterpillar-there-full-blown-global-depression

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The drop in CAT''s sales may be due in large part to the efforts of BDS.

Since CAT sells equipment which is used to destroy Palestinian homes and build Settler homes, and let's also not forget it was on of CAT's products which was used to murder Rachael Corrie.  Many South American Governments fully support BDS, as do many South American people.

Perhaps if CAT would quit supporting apartheid they might be able to make some sells.

I agree, but I think they're just reporting what's happening across the board
in the overall global economy since they have moved overseas.

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The drop in CAT''s sales may be due in large part to the efforts of BDS.

Since CAT sells equipment which is used to destroy Palestinian homes and build Settler homes, and let's also not forget it was on of CAT's products which was used to murder Rachael Corrie.  Many South American Governments fully support BDS, as do many South American people.

Perhaps if CAT would quit supporting apartheid they might be able to make some sells.

Good, they need to sell even more bulldozers to evict the scum.

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It ain't just CAT.  It's painfully obvious that the economy is artificially propped up for the benefit of the few. When Goldman or J.P. Morgan claims to take a hit then .gov rushes in to bail them out.

Multinational corporations—those with more than 50 percent of sales outside the U.S.—are clearly having bigger revenue hits than those that operate largely in the U.S.

http://www.cnbc.com/2015/04/21/heres-how-the-strong-dollar-is-hurting-corporate-revenues.html

Samsung has seen a catastrophic collapse in China over the last year, with its smartphone sales market share halving in 12 months

http://www.businessinsider.com/samsung-china-sales-q1-apple-xiaomi-idc-plummet-2015-5


China's economic slowdown and the strong U.S. dollar caused Hershey's stock drop 3% Thursday. Its chocolate sales in China plunged almost 50% from a year ago.

http://money.cnn.com/2015/04/23/investing/hershey-earnings-stock-drops/

Smith & Wesson misfire: Rifle sales drop 50%

http://fortune.com/2014/12/04/smith-wesson-misfire-rifle-sales-drop-50/

Qualcomm Inc., seeking to appease investors after posting its worst sales decline since 2009, said it will cut its workforce by 15 percent and review strategic alternatives, including a breakup, as competition stiffens in the smartphone-chip market.

http://www.bloomberg.com/news/articles/2015-07-22/qualcomm-to-cut-jobs-after-worst-quarterly-sales-drop-since-2009

Sales Drop at IBM for 13th Straight Quarter

http://ww2.cfo.com/financial-performance/2015/07/sales-drop-ibm-13th-straight-quarter/


TripAdvisor down 9.5% on Q2 miss, guidance cut; Priceline also lower

http://seekingalpha.com/news/2654085-tripadvisor-down-9_5-percent-on-q2-miss-guidance-cut-priceline-also-lower


Union Pacific bears brunt of 31% slump in coal revenues

http://seekingalpha.com/news/2654055-union-pacific-bears-brunt-of-31-percent-slump-in-coal-revenues

Jaguar Land Rover's sales growth in China could drop by about 50% this year and decelerate even further next year, owing to a larger base of comparison and slower expansion of the world's biggest auto market.

http://www.ibtimes.co.uk/jlrs-china-sales-growth-could-drop-by-50-this-year-1471031

A&P store closings could eliminate 472 jobs on Long Island

http://www.newsday.com/business/a-p-store-closings-could-eliminate-472-jobs-on-long-island-1.10670661

The ShadowStats Alternate Unemployment Rate for June 2015 is 23.1%.

http://www.shadowstats.com/alternate_data/unemployment-charts

 

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