Yup!!!! It's Definitely a Depression!!!!!!!!!!!!!!!!!!!!!!!!
Cummins earnings tumble.....for 2009 the engine maker sees sales down more than 30%.
Dow Chemical first-quarter profit plummets 96%......net sales fell about 42% to $9.1 billion from $12.9 billion.
I could go on, but you get the point.....SALES at some of our most important companies DOWN 30, 40% and more....and the outlook is deteriorating....as we know, imports and exports were down by about a third in Q1.
Remember, a Depression is only a 10% drop in GDP from peak to trough.
Just like the auto companies and construction companies that slashed half or more of their their workforce.....you should not be surprised if similar behavior occurs in many other industries as revenues evaporate such as chemical, industrials, finance, etc......
Government and healthcare is just starting to slash to make up for evaporating revenues.
And some of you Fools question Alstry's projection for 30-50% unemployment.....at this point, and the current trends, it is only a matter of when......we should be over 17% when reports come out next week.
And by the way, for those of you that still don't understand what happens to a company when revenues drop 30% and more and the business has significant overhead and leverage.....you may want to take a look at Chrysler and GM as excellent models.
Prepare....Don't Fear......Zombie Nation is moving ahead and on a tear.....