I think a lot of the problems they've been having with?supply chain bottlenecks?look like they've kind of worked their way through the system.

Although the quarter (for CNH) was a disappointment, the outlook shows some promise.

There's still some tightness in some of the components. But overall, the company continues to fire on all cylinders.

Basically, all the forces that can enlarge the retired elderly population are in overdrive. The forces that would expand the younger (and working) population paying for Social Security and Medicare taxes are in reverse. The result is a kind of perfect demographic storm.

We still have a supply.

When you remove a fish that small, you are removing the goose that lays the golden egg.

The report shows that the rules themselves are not strong enough. Many countries are not paying attention to them.

All participants of the fishery will be better off in the long run if stricter regulations are enforced.

What a nice little quarter for them, considering all the headwinds.