China getting desperate for our good coal !

Originally posted by Cuppajoe2: ↑

Hi Adam,

You hit the nail on the head with the Roubini reference. He is still at it casting a negative spin and doubt in every direction still confident in spite of being wrong at every juncture... just like moorookami.

It reminded me of a passage in Ben Franklin's autobiography where he describes "croakers" people who take a negative view on everything and especially the future of an economy and a country. This was from the 1700's in the USA mind... but they had the same nervous Nellies saying the same silly things back then.

Quote from Ben's autobiography:

"There are croakers in every country, always boding its ruin. Such a one then lived in Philadelphia; a person of note, an elderly man, with a wise look and a very grave manner of speaking; his name was Samuel Mickle. This gentleman, a stranger to me, stopt one day at my door, and asked me if I was the young man who had lately opened a new printing-house. Being answered in the affirmative, he said he was sorry for me, because it was an expensive undertaking, and the expense would be lost; for Philadelphia was a sinking place, the people already half-bankrupts, or near being so; all appearances to the contrary, such as new buildings and the rise of rents, being to his certain knowledge fallacious; for they were, in fact, among the things that would soon ruin us. And he gave me such a detail of misfortunes now existing, or that were soon to exist, that he left me half melancholy. Had I known him before I engaged in this business, probably I never should have done it. This man continued to live in this decaying place, and to declaim in the same strain, refusing for many years to buy a house there, because all was going to destruction; and at last I had the pleasure of seeing him give five times as much for one as he might have bought it for when he first began his croaking."

Makes me wonder if Mooroo's antecedents may have migrated from Philadelphia and included a Mickle who brought the family playbook with him...

Cuppa

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" ........ at last I had the pleasure of seeing him give five times as much for one as he might have bought it for when he first began his croaking."

lol

While renting a flat in Sydney in the 1980s there was a picture of this type of croaker in the real estate agent's window.

The photo was of an elderly guy with a white beard down to his knees. It was explained that this guy was the croaker who was waiting for real estate prices to fall.