I won't go into too much detail as I just explained my...

I won't go into too much detail as I just explained my fundamentalist views over on the XJO thread. However, commodities are hostage to USA GDP which is out 11.30pm NSW time tonight, and as long as gov don't fudge those figures (which I should add I am worried they will-thus prolonging the pain as they have ever since Bear Sterns intervention) we should have a clearer picture of USA and UK led worldwide recession. UK GDP just shrank remember, and USA will be the knock-out punch for commodities.

Before anyone brings up China as our saviour (Aus number one resource customer), remember who is the top China customer for the end-products they export...USA.

Let alone China's steel industry is contracting like it's going out of fashion at present.

If I could present any resource/BHP bull out there just one link that will change your life or at least perspective...it would be this:

http://www.investmenttools.com/futures/bdi_baltic_dry_index.htm

Chart of Baltic Exchange Dry Index. If you don't know what it means, google it and do some research. It more than anything else puts the B into Bear Market for resources, and the R into Worldwide Recession, and more specifically in commodities.

Put simply, it is back to where it was before resource boom occurred.

Case closed your honour.