new forecast, page-59

I do see your points. I am looking at the graphs in past booms etc

http://www.rba.gov.au/publications/bulletin/2011/mar/1.html

Refer to graph 2.

The iron ore even by other countries during their boom for the last 20 years has been stable. They did not build anything like this to cause this spike,

I agree with you on the property boom it was a massive factor - but

It took about 130 year for 15 cites to be built in the US to reach NY size.

IT took japan about 40 years to do the same

It took China 7 years to build the city.They have built 15 cities that can house 250 million people. They are all empty ... I have been there.. imagine walking in the heart of sydney and melb and no one is around but everything is kept clean and nice..... it feel like you have enter into other world.

My point is not the iron ore will go down the tubes. It will be demand will be alot less. The price of iron ore 2007 ore china boom was 35 bucks.

From your post . they spent 4+ trillion during 2007-2014, and only looking at spending 1 trillion ....... that mean they have reduce their spending of project by 1/4.

This is my logic. Hence the question - Does the world really need that much iron ore. ?