generic loctites as good as the real thing?

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In my experiences, yes. The important thing is using the correct one for the application. I've used seldom seen green Loctite on my job at UPS. Having clean threads is a must for thread lockers to work properly.
 
I never tried anything else but i figure if the fastener really needs a locking compound its probably best not to cheap out and use the brand name. JMO
+1 on using the correct compound for the job, be careful with red unless its really necessary.
 
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