Goldman joins the mining cliff bears

Friday, 17 May 2013

In a note today in which he forecasts a 90 cent Australian dollar within twelve months, Tim Toohey also offered the following chart of GS’ estimates of the mining investment cliff:

I’ve added this to my growing accumulation of forecast cliffs and the news is not great with GS more or less supporting ANZ’s uber bearish view:

As usual, take this chart as guide only owing to definitional difference and and assumptions about forecsast GDP.

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.