What difference a few days make. It just goes to show you can't...

What difference a few days make.

It just goes to show you can't just keep emptying out the wallet of Australia and WA  (on the verge of a mother of all recessions, housing crash and credit rating downgrade) to give to the Chinese enjoying a massive surplus, with $4 lazy trillion in reserves and laughing at how Abbott makes Aussie battlers pay to see thier GP, countless Aussie miners losing their jobs when the Chinese keep pumping more iron while just saved what amounted to $50 Billion EDBITA of lost earnings in the global IO industry.

If a couple of Chinese miners did what BHP and Rio are doing to systematically impoverish China to enrich Australia because of some harebrained scheme, then someone would literally be facing the firing sqaud.  

http://www.theage.com.au/business/m...-iron-ore-price-weakness-20150421-1mq6xt.html

BHP Billiton has deferred some spending at Port Hedland in response to iron ore price weakness

A few days earlier

http://www.theaustralian.com.au/bus...ws-more-iron-ore/story-e6frg9df-1227290601977

BHP Billiton iron ore chief Jimmy Wilson has described the dramatic price plunge to below $US50 a tonne as part of a normal commodity cycle as he vowed that the mining giant would “unashamedly” continue to add to the supply surge for at least another two years.

Mr Wilson insisted he had no plans to reassess BHP’s plan to expand its annual iron ore output in the Pilbara from 245 million tonnes to 290 million tonnes by mid-2017,