As we’re all aware, the last three years have seen unending supply chain snarls and production backlogs for a variety of reasons. We might be seeing these forces coming back into equilibrium, but don’t break out the champagne just yet.
The backlogs are lessening not because productive capacity and plant performance is finally rising to meet demand, but instead because demand is falling to a level at which supply chain snarls just don’t matter as much. The marginal consumer is tapped out.
Caterpillar Inc.’s stock tumbled to the lowest level since early June after the company said its order backlog shrank in the third quarter, a sign the market sees as slowing demand for its iconic yellow machinery in the coming months.
The year-on-year decline of $1.9 billion is the first since the third quarter of 2020, when Caterpillar was grappling with the effects of Covid-19 shutdowns on its sales…
I have a theory why the yellow machinery isn’t moving. I talked to a fellow yesterday who had looked into trading his 5 year old Case 580 backhoe for a new one. They offered him less than $100k on trade-in, and the sticker price on the new one was $240k.
Is there something wrong with his 5 year old backhoe? he might be better off keeping it, with all the useless environmental geegaws on the new ones…
I was looking at some auctions a while ago and the older ones are creeping up in price
Thats the conclusion he arrived at.
52 week high 293
52 week low 204
Currently 227. Low but not exactly freefall when you look at the overall US market or even just the S&P.
While puppet governments around the world went full fascist on their populations using the Coronahoax as the excuse (especially in the “free” west), the puppet governments in the countries to where our production has been exported over the decades used the same Coronahoax as the excuse to severely curtail production.
Between these two pincers, both production and supply (caused by the western puppets purposely creating inflation, destroying the economy, and stealing from the productive to redistribute) have dropped precipitously.
In a similar manner, Western nations have seen the effectiveness of their various cities’ roadways massively degraded by imbecilically converting lanes for bicycle use against the will of the overwhelming majority. At the same time, new road and especially infrastructure construction is inadequate for even the current traffic, and new on/off ramps often consist of only a single lane regardless of traffic density.
At the same time, cars are being phased out, alternative (aka old, such as LRT and buses) forms of transportation “encouraged”, and densification pushed. All while population-replacement levels of every form of immigration floods the nation, no longer even under a flimsy guise of “refugees” or some other easily-disprovable BS.
Because it was always part of the agenda. None of these events are serendipity. Our puppet politicians, media, “globalist” corporations, etc. all belong to the same organizations and are all controlled by the same people. We are all being led down the path to slavery and are almost there.
Putting faith in controlled “elections” will do Jack shit. We will soon have nothing, and the vast majority of zombie imbeciles (everyone on “the left”) will be happy or will grudgingly accept it while hoping for the next fake-right puppet (Trump) to save us (sadly most on “the right”).
I meant to say “…both production (supply) and demand…”