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It’s all good today for the iron ore miners, though I’m not sure why. BHP and RIO are roughly even and FMG is up several percent, perhaps with the dollar down. Or the news that FMG is cutting executives to save costs, though hemorrhaging leadership staff was never a good sign in my book. Here are the comparative indexes:
The idiocy spreads are again narrowing and the moron cross is complete with BHP falling faster than RIO, though I accept it needs to be renamed given the oil crash and will drop it henceforth:
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The junior catafalque is festooned with a string of new lows, with BCI and ARI sinking once more:
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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.
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