re: Ann: FMS Pilbara Iron Ore Mining Lease Gr... When the GFC...

re: Ann: FMS Pilbara Iron Ore Mining Lease Gr... When the GFC hit a lot in the mining design game in Perth were laid off and within six months they were all rehired.

The USA is climbing out of the hole. Germany is OK, the rest of europe is a bit of a mess because socialist governments keep borrowing money to give to those who won't work.

Indonesia, Vietnam Malasia etc are all marching foreword and their societies are slowly improving.

People forget that India is tracking China something like 10 to 15 years behind China.

No one and I mean no one knows how this China thing is going to play itself out there is no president in history for what is happening there. The concept where the state owns all land and they can develop anything without all the standard problems of private ownership that we have is a model made in heaven. There are no economic books or professors with any knowledge of this economic model.

We do have a flipping clue as to how this will work itself out.

One thing we do know is in a concrete structure the tension element comes from steel. If you are going to build anything big with big spans you can only do it with steel. The Bauhaus group in Germany changed Architecture by going to three main materials, stone glass and steel.

There is a 35 day advantage in the sea trip between us and Vale. Vale is going to 400 thousand ton ships to help in the equation. I see us doing the same and you are still left with a 35 day advantage.

So guys stop talking doom and gloom. Every pheasant in china wants a washing machine and guess what the material is it is mainly made from.

Our bigger worry is the rotwhiler with lipstick who wants to take our iron ore profits and give it to dole bludgers.