The Rising Influence of Rising Affluence

[jbog]

CAT continues to set all-time highs—stock currently +61% from 12-month bottom.

Recession?

I'm not clear how you look at Cat or Deere and make any correlation to a recession. In the 70's, 80's and 90's did you look at Oil prices and conclude what recession?

Cat and Deere are in transformational business's today and will enjoy a nice cycle.

If I want to consider a recession I'd rather pay attention to JP Morgans and Wells mortgage origination's this week that went from $42b and $48b to $7b nd $15b, back to early 2000's numbers.