Australian banks Australian LNG Australian Shares Commodities Gold Iron ore price

Big Iron bubble roars

David Llewellyn-Smith

Thursday, 8 December 2016

Extraordinary circumstances today with the iron ore bubble unchanged from overnight:

But Big Iron headed for the heavens with BHP 1.7%, RIO 2.7%, FMG heading for $7 up 3% and WHC 1.4%:

When it will end nobody knows given it has no underpinning but bullshit is certainly mounting up:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.