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Caterpillar- Caterpillar reports 53 pct decline in 3rd-qtr profit on slumping sales, lifts profit outlook. Caterpillar has responded by dramatically cutting production and laying off thousands of workers. Since spotting signs of a recession last year, the company has cut 16 percent of its work force, which now stands at just above 94,000.
Originally posted by St Udio
it seems the components (corporations & small businesses) of the economic engine are deliberately being ignored by the growth maker Banks, who could - but are not providing - monies to keep the economic engine running.
The banks & wall street financial firms are hoarding the Trillion$ of taxpayer money to play the 100% guaranteed Interest Rate Spreads
i.e. they 'borrow' Zero%-to-one quarter % money from the FED, then buy USTreasures paying 3-4% and pocket the guaranteed profits --- then award themselves outrageous Bonuses because their BottomLine is positive.
On the other hand, the Trillion$ the select 20 or so banks have (in their greedy hands) are actually propping up the ever depreciating dollar ,with the Treasury paper & bonds they buy almost monthly....
but, these financial entities are also buying commodities and other real assets, including the magical stockmarket return to the 10,000 level.
all this activity to the Detriment of the masses, and the economy, and to the future of the social fabric and social order...
of course, one shining point of light is the company Apple Inc, because they have a Best-of-the-Best product... a $259 ipod among other expensive must-haves which the Elites & aspiring elites need... to ascend their heirarchies of power.
as for the masses...
feed them cake & give them Circuses
american idol, reality TV on plazma screens, conspiracy sites on the www,
Originally posted by presario
Here's an interesting graph of the value of the USD compared to the other major currencies.
I love seeing that Peter Schiff video, but I'd love even more to see him address those clips and get those propaganda experts back to see what they say now. Nothing would please me more than to see those idiots admitting that he was right all along.
But you know, I have a feeling they'd still be sitting there saying everything is going to be fine. They really are THAT deluded.