Tag: Caterpillar Inc.

What Caterpillars Know

The interminable slog to the election (death by a thousand cuts) is winding down, with the last debate tonight. Although focused primarily on foreign affairs I expect Romney to connect the dots between our listless stumbling bumbling economy and how it affects the rest of the world. I also expect Bob Schieffer to understand his role and his place, no on the spot fact checks duplicitly injected to bail out their preferable ,”No, Governor, really, the president does care about our foreign ambassadors, he told me so many times, carry on”.

But the inextricable link of world markets and economies, the notion that a tree falling (or a bad earnings report) in America is now heard in China and in Europe, this is the new reality. What we do with our economy, our debt, and our currency ripples across the world, and CEO’s know this better then most:

The global economic outlook is more uncertain now than at the start of the financial crisis in late 2008, chief executive of Caterpillar , Doug Oberhelman, said on Monday.
The CEO of the world’s largest maker of construction equipment also predicted that it could take another five years before Europe’s economy begins to see growth again.
“There’s never been a more unpredictable set of tea leaves than right now.

To deny that we are a major player, that how we manage our own house affects others in the global neighborhood, and that our mismanagement is playing hell with other economies denies the obvious. A more myopic sinister view might be that,”Here we go again, greedy CEO’s trying to influence elections, injecting their spin and their POV on national affairs”, naturally that would just be silly.

I would suspect that CEO’s, business people who understand capitalism, the free markets, and the profit motive would understand what conditions are optimal for making money/growing their business and what conditions are anathema to those pursuits. Oberhelman just gave Obama an “F” on the economy, we can do better.

Our security, and by proxy the world’s security is weakened when our currency is not stable, when our debt is unmanageable, and our growth is anemic. Romney needs to ram that home tonight.