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alstry (34.92)

When FAST is Slow you know it is a Depression

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July 13, 2009 – Comments (4)

FASTenal Co. is one of the best managed companies in the S&P.  It sells industrial and construction supplies and is an excellent barometer on the overall health of the economy. 

The company reported today that SALES were down OVER 21% despite increasing the number of stores it sells through. 

http://finance.yahoo.com/q?s=fast

Since a DEPRESSION is commonly defined as a contraction in GDP of only 10% peak to trough, it is getting clearer and clearer that our economy entered into a Depression in the second quarter as industry after industry, and company after company are reporting sales declines of double digits.

4 Comments – Post Your Own

#1) On July 13, 2009 at 11:43 AM, tfirst (33.45) wrote:

Fastenal is THE most expensive supplier out there. If their sales are down maybe it is because contractors have become aware of their costs?

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#2) On July 13, 2009 at 11:45 AM, alstry (34.92) wrote:

Industry sales are down as well, so your argument can't fill up the well but I have to say your effort was swell.

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#3) On July 13, 2009 at 12:35 PM, alstry (34.92) wrote:

NO DOUBT IT'S A DEPRESSION!!!!!!!!!!!!!!!!!!!!!!!!!!!!

(MarketWatch) -- Ad-supported media will see a 14% decline in advertising revenue this year, the ad buying agency Magna said Monday, but there is room for optimism.

"The first half of 2009 will likely turn out to be the worst period of this recession, during which time Magna estimates ... advertising revenues will have fallen by 18% vs. the same period in 2008," the company said.

http://www.marketwatch.com/story/magna-sees-ad-revenue-declining-14-in-09

This is a double digit decline on top of last years decline!!!!!

Advertising 

Autos

Builders

Banks

Commecial Real Estate

Developers

Industrials

Technology

Services

and soon Government and Health Care........DOWN Double digits!!!

 

No doubt it's a depression...despite the lies economists tell ya...

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#4) On July 13, 2009 at 3:14 PM, OneLegged (< 20) wrote:

If you work for Goldman Sachs there is no depression.

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