Today’s iron ore miner action is nervous with RIO up a half percent, BHP down 1% and FMG down 2% and looking toppy. This seems a little odd given the weak dollar and confirmation of further rate cuts in the jobs data. To the indexes:
The idiocy spreads have whipped out the cranial drill and lobotomized BHP and RIO with a spoon. At new wides both are threatening to shower the average with pureed grey matter The closure of this gaping wound is going to be one the most surgically horrifying moments in modern Australian business:
Death persists here:
Dalian is unmoved.
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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