You have to wonder at what it will take to get some system hugging media to recognise balderdash. Today’s example is Bartho at Dad’s Army who writes:
Is the $US48 a tonne forecast for the average iron ore price next financial year optimistic or pessimistic? It depends on whether you are an iron ore and steel optimist or pessimist.
…It would appear that Treasury and the government simply chose to average out recent prices rather than trying to develop a more sophisticated forecast of their own. Given the very wide range of market predictions of the price, both in the near term and longer term, that’s a reasonable and relatively conservative approach.
