Bloomberg reports that: “Volvo said it received 115 order bookings for heavy trucks in Europe in the quarter, down from 41,970 trucks a year earlier.” The rest of the article doesn’t even matter.
The only question now remains: recession or depression? The financial erudite still does not fully understand that we are reaping what was sowed by Greenspan during his tenure at the Fed, especially during 2002-03. And what is even more frightening is that his successor, Bernanke, is following the same grievous path.
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