The problem is, with any market, is the forced and severely distressed selling when the debt is more than real asset value, and in recent days IMO, that is all it has been.
If metals don't recover, many here in WA will lose their jobs or be forced to looks for jobs as simple and perhaps underemployed tradesmen; and when the contruction business ineviteabley fails as the debt trickles down, it can be social chaos for those with young families, uneducated wifes, maxed out cards and assets worth much less than they were bought for with a never ending line of interest payments.
Not pretty - seen it before.
Hopefully the relaxation of monetary policy will be smooth and effortless as if not, the pain may be substantial.
