How are we fortescue? haha (1 Viewer)

How screwed is Australia


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Devozzzz

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Whats up everyone. Whats everyone's take on current economics? Europe, mining boom, Chinese politics etc
 

Kieran95

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Europe and America - I personally hate these stimulus packages. The governments just seem to be injecting more debt into their already indebted balances. Me myself, i have an extremely negative outlook for the global economy in the coming years. Surely with America at 14 trillion dollars of debt and Europe about to collapse, their source of funds will eventually discontinue and they will be left to rot, obviously impacted severely upon the rest of the world. I just can't see how we are going to avoid a such a severe downtown that we have never seen before.
 

Devozzzz

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I feel the exactly the same, adding to that, iron ore price have fallen 35% since April and turns out the Chinese government has been artificially creating demand for steel. Now they have a 50+million tonne surplus of it. Not much Australia is going to be needed for. Therese even news that Kazakhstan has found some insane amount of coal that they can sell for for half as much to china as Australia sells it for.
 

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