China sees Big2 plot unconvinced by Hockey

Joe Jockey is a lousy treasurer and a even worse actor IMO.

Pretty sure Walsh told him the Big2 plan is “long term” when they met last month only that by then the Coalition will be kicked out of government and Hockey - Abbott will have resigned from politics and Australia losing the AAA credit rating with a deficit ballooning towards $100 Billion.

Firstly, there is nothing short term about killing 32 IO projects globally (so that the cartel can milk China like a cow from 2017 onwards and until 200MTA of high grade iron ore hits the market from Africa come 2020 and beyond if lucky).

So Hockey expects the Chinese to believe he demanded a meeting with Walsh only to be told that it gets even better, there will be no floor and these Big2 execs are just so “short term” while his government is clinging on by the tip of it's fingernails.

The following is the biggest load of incoherent &^$# I have ever heard from Hockey. I didn’t know Sam Walsh is a newbie on a 2 year contract or that the BHP board turns over every 12 months. Zigzag vs straight line…WT ? So BHP and Rio are more profitable immediately when IOP is at $47 vs $120...WT ?

"I find it very difficult to step into the heads of chief executives because a number of them are quite short-term in their thinking," he said. "That's why it's important to have longevity on a board." He said CEOs had a high turnover rate and "they're going from point A to Point B in a zigzag rather than a straight line, and going to where it looks more profitable more immediately rather than taking a longer term approach".

I think the Chinese are going to be very confused from Hockey's comments last month and those of yesterday.

http://www.copyright link/business/...over-call-for-iron-ore-cartel-20150325-1m768l
....Mr Hockey, who had a rescheduled meeting with Rio Tinto executives on Wednesday, said he was very concerned at the decline in the iron ore price and its impact on revenue....

http://www.copyright link/news/policy/budget/joe-hockeys-25b-iron-ore-budget-hit-20150412-1mj7gx
....."There seems to be no floor. We are contemplating as low as $US35 a tonne, " Mr Hockey said...