"When the evidence of China's housing bubble deflation is much more clear (as I think it will be in ~6 months), demand for steel, and hence iron ore, is going to reduce such that $130/tonne will seem like a dream.
~$60 per tonne a la GFC would put a lot of mines, and hence a lot of cashed up bogans, out of work."
Why is it an assumption only "cashed up bogans" are working in any lucrative jobs arising from booming sectors? That implies tertiary qualified professions are 'above society.' Cashed up bogans, cashed up Blue Veins, it's all the same if you're in a one hit wonder employment cycle.
Also, I'll buy some Australian 12m SHS posts to put in my yard, to hold up the sky as it falls in LOL
