Well I still believe that is why we have the mess since last month.
50% iron ore is for China property. Definitely, reality wise, we wont have same accelerated iron ore consumption for now. US steel is still far away. But that is what they want ..
sp = f(e,m) ; stock price sp is function of e economy and m money.
E we know is easy boring but m can veto.
I don't believe China will bailout just like west. Never greater will never be greater again for quite some times. Definitely bond wont pay interest. They don't have any issue to not paying bond interests to their banks forever, as their bank is their own. But how about pinkrock?There are few scenarios, waiting some more clues. Just China can't bailout everything if their export may crash (i think) and riot at same time.
I would not bet bhp for iron ore demand but I will bet some m plays out in US where I have interested most since early year. And continue to short emerging since i dont believe US will let it go just like that. Fiscal has more opportunity to come out soon but that may come with volatility
Simply if we believe bhp and commodity, we have to bet aussie interests , protect it with submarines and bet China will be suffering A LOT and possibly DIE, our poor biggest customers unfortunately.
Drama ... popcorn please
end cycle price target $8 to $12, page-115
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$42.30 |
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