OT CAT Stimulus jbog - the silly tax rebates and giveaways on corporate taxes are indeed wasted - will result in little to no added spending - so CAT's business will not benefit from them. And yes there's plenty of useful infrastructure work this country could do that dwarfs the stimulus spend. Last week they trumpeted 0.25 bn to California for some infrastructure - was it high-speed rail? For context in my home town of Atlanta - pop 450,000 - we have a $4bn sewer rehab program. $.025 bn is a rounding error for a place with a 30mm pop, in other words.
I'm amazed CAT expects a US house building upturn later this year. They may be right, but the housing market needs more stock like a hole in the head. Dead CAT bounce, perhaps? (Sorry, couldn't help myself)
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