WA government already lost the AAA credit rating (is forecasting...

WA government already lost the AAA credit rating (is forecasting 2015 IO price to be $US 75/T or $93/T based on AUD-USD Exchange rate of 0.81).

WA has no need to under-promise to over deliver like Abbott/Hockey (being totally caught out buy BHP/RIO - ROB THE POOR TO GIVE TO THE RICH - scheme) and not involved in the diplomatic games with the Chinese (signing a useless FTA - and MUSTN'T be seen to be influencing market pricing) artificially over-lowering the IO forecast to $63/T (as BREE has just done - seemingly told by the government to amend this number having come up with $94/T just 12 weeks ago).

Is the WA government (being too conservative) by trying NOT to deviate too much from the Mickey Mouse federal IO forecast from BREE who just dropped their forecast by almost 50% in a just 12 weeks ?

The calendar average IO price for 2014 has been $90/T - $94/T (reported by mining weekly and The Australian yesterday) and it has already destroyed the WA and federal government finances causing a $43 Billion deficit getting worse by the hour (according to Joe Hockey, the worst terms of trade setback in over 50 years all happening in just a few short months).

How on earth could the budget black hole and fiscal emergency ever turn around if the IO price doesn't rebound quickly (let alone for IO price to fall a further 4o%) all because it's a SUPPLY side largely from 1 country - Australia ??

It's all BS to me.