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The evidence is rapidly accumulating that the Australian economy is entering depressflation.
A junior West Australian iron ore miner was forced to scale back non-essential activities to keep its operations running after coming within days of running out of fuel.
Fenix Resources, which operates three mines in the state’s Mid West, hauls its iron ore hundreds of kilometres on road trains to the port of Geraldton.
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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.