The worrisome economic message from Caterpillar - The Tell - MarketWatch
For every advertising-sales boom, every buyback-induced earnings
beat, every subscriber-growth explosion, there’s a troubling metric not
too far behind. Caterpillar, for instance, has been on fire, but its
strong run belies what’s really happening in terms of sales.
Before Thursday’s earnings report, Caterpillar
CAT
-3.32%
reported its monthly retail sales, and didn’t get much press. That’s because, according to Zero Hedge,
the industrial bellwether “hardly wants the investing public to know
the unpleasant truth” — that Caterpillar has reported 19 straight months
of declining year-over-year sales. The chart below illustrates that
truth. The company’s last losing streak started back in October 2008,
right around the time Lehman filed for bankruptcy.
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