China has pulled out of the iron ore price talks without...

China has pulled out of the iron ore price talks without resolving the dispute on price. It bodes very badly for Australia but the silence of the mining sector is deafening. Why?

The markets have been too reliant on this 'bottomless pit' of Chinese goodwill. Dumping their consumer goods taking back all the hard earned foreign income and exchange from mining to whom?? to them?

How do we cover the disaster? throw money at the population. If they don't have any bread 'let them eat cake'.

The Beattie budget covered in a dress was as shameful as the Costello parading like Blakey from 'On the Buses'. A cheap wannbe Paul Keating arrogantly displaybg his ignorance.

it never ceases to amaze me who people at the level of Prime Minister and Treasurer can become so absorbed in their 'greatness' to forget the fragility of markets driven by humans and seasons.

I will sell down BHP, all of the Coal Mining stocks and hold on to Iron and copper. The smaller mining companies are like the penny dreadfuls are just that. Get out now. The larger retailers are in for ashakeup of their lives. The banks like ANZ and Westpac may have some residual value. But the Commonwealth and St. george and the NAB are like lepers. The Commonwealth will stand in the market to buy what anyone sells to maintain the fiction of success and strength. There are at least half a dozen brokers who are beholden to them for that exercise.

There is a Tsunami on the way chaps. (and ladies). God save us