Joe Hockey blathers on Forrest

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From The Australian:

“I have been speaking to all of the miners. I have been speaking to their customers.’

“Obviously the sharp fall in the iron ore porice has had a dramatic impact on our revenues, as it has the entire mining industry.”

“But common sense must prevail.”

“I have a lot of sympathy for Andrew Forrest, and all the workers in the sector.”

“Markets go up and markets go down. If there is untoward conduct it must be dealt with. We’ve been following this closely.”

What does that mean?

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.