If you want to see true, fundamental economic weakness, look at medical, government and groceries - medical equipment orders are the last to fall, and serve as an omen of very bad times to come, as they're the last thing people, medical professionals and hospitals cut back on, when cost cutting is mandated by lower revenues, etc. We've already seen weak pharma sales (J&J, et al.). I know that doctors and hospitals are beginning to struggle, and many hospitals are laying off medical staff, in fact, and this is very ominous. Health-care profit fell 20 percent as the U.S. market for orders âremains tough,â said GE Chief Financial Officer Keith Sherin said on the call. http://www.bloomberg.com/apps/news?pid=20601087&sid=a1ccT6agdq2M
one often wonders, in a depression, who, just whom? is going to be buying all this new equiptment..... is it really that hard to see why their results were off?
They're prepping for Bam Bam's reform. Why would hospitals want to buy equipment, if in the future, they may not be able to write it off?