Because of the US/UK financial mess we are seeeing a world wide slowdown and it will be severe.
I think that BHP and WPL are good defensive companies.
Neither need to raise capital to continue with their expansion plans, and falling commodity prices will be to some extent mitigated by a falling A$.
Demand from China will slow as exports fall and next year's prices for coal and iron ore could be lower. India's expansion should continue and this will support us to a limited extent.
By the time the next upswing comes, both should have extra production ready for it, meanwhile both should be able to sustain dividends and we might even get a surprise. Perhaps a special dividend from WPL and capital management from BHP?
wpl or bhp, page-5
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