Starvin Larry

Who says there’s no deflation? What do you call a 99 percent discount on a Caterpillar Wheel Loader? Click the link at the end and check the photographs at the end of the stories for other massive discounts. From Tyler Durden at zerohedge.com:

Two weeks ago, when looking at the latest Caterpillar retail sales data…

… we said that “If Caterpillar’s Data Is Right, This Is A Global Industrial Depression.”

Today we get visual evidence of this, courtesy of an Australian heavy industrial equipment auction where machines such as a Caterpillar 992C wheel loader, which normally costs $2.9 million, can now be bought for just $15,000, a 99% discount!

As Australia’s ABC reports, now that the commodity bubble has burst for good, auctioneers are hard at work selling tens of millions of dollars of suddenly useless coal mining machinery for just a fraction of its original market value.

The…