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Iron ore - supply and demand rides again
Topic Started: 30 May 2014, 03:23 PM (44,259 Views)
John Frum
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Mustapha Mond
23 Sep 2014, 07:49 PM
Timmy was a false profit
Prophet
"It were not best that we should all think alike; it is difference of opinion that makes horse races." - Mark Twain on why he avoids discussing house prices over at MacroBusiness.
"Buy land, they're not making any more of it." - Georgist Land Tax proponent Mark Twain laughing in his grave at humourless idiots like skamy that continually use this quip to justify housing bubbles.
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Jimbo
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lulldapull
23 Sep 2014, 07:07 PM
Fuck it was obvious........so is the housing crash. It is inevitable for two years now! If not more!!!!!!
I was obvious five years ago when I first went to China to manage stuff being built there for less than half the price it could be built for in Perth (including shipping).

I am now in Seoul for a short while doing some final checks on a project that would have cost five times as much if it were built here.

WA has benefited from a massive input of capital that has seen wages and prices skyrocket way beyond anything realistically sustainable.

We are in for a hard landing.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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lulldapull
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yeah Jim, it's obvious how bad things are now.

BMA/ bechtel unloaded the last few hundreds from coal in QLD this week. Same with bhp. Mitsubishi coal has lost confidence in the market.

Also Santos/ QGC/ Origin between them fired anywhere from 400 to 500 just this last Friday from all the FEED & Execute upstream gathering works. 160 alone by Santos, since I know people there. :bye:

All highly qualified folks mostly on $230k+ per year contractors & many dozens of staffies too......... :bye:

It'll only get worse. Just watch.

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Foxy
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Zero is coming...

John Frum
23 Sep 2014, 08:29 PM
Prophet
thank you John, i am dyslexic.
Peter
lulldapull
23 Sep 2014, 09:21 PM
yeah Jim, it's obvious how bad things are now.

BMA/ bechtel unloaded the last few hundreds from coal in QLD this week. Same with bhp. Mitsubishi coal has lost confidence in the market.

Also Santos/ QGC/ Origin between them fired anywhere from 400 to 500 just this last Friday from all the FEED & Execute upstream gathering works. 160 alone by Santos, since I know people there. :bye:

All highly qualified folks mostly on $230k+ per year contractors & many dozens of staffies too......... :bye:

It'll only get worse. Just watch.

how will they pay the mortgages??







peter

Is the demand side of the housing market shrinking??

Will this raise supply??

Will houses follow the price of coal and iron ore.???
Edited by Foxy, 23 Sep 2014, 09:57 PM.
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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Jimbo
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lulldapull
23 Sep 2014, 09:21 PM
BMA/ bechtel unloaded the last few hundreds from coal in QLD this week. Same with bhp. Mitsubishi coal has lost confidence in the market.

Also Santos/ QGC/ Origin between them fired anywhere from 400 to 500 just this last Friday from all the FEED & Execute upstream gathering works. 160 alone by Santos, since I know people there. :bye:

All highly qualified folks mostly on $230k+ per year contractors & many dozens of staffies too......... :bye:

It'll only get worse. Just watch.

I had a look at few ex collegues Linkedin profiles the other day and they are scratching around for work. One was a quality Engineer at Dugald River and the other was at Jimblebar as a construction manager.

These people will get work, but it won't be the 200k+ a year work that they are used to. Meanwhile they have taken on commitments that require 200k+ a year salaries to finance.

Australia has vast resources and everyone will want them at some point, but we rushed in too hard with development to try and take advantage of silly market prices for commodities.

Interesting times ahead (to say the least).


Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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Foxy
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Zero is coming...

doubleview
23 Sep 2014, 06:51 PM
Uncle mustapha is spinning out lately espec as ore falls further off the cliif, fuck he has gone off the rails!

He thinks he predicted it as FOXBAT and wants to bow to himself.
It was not predicted, it had already happened.

Peter
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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newjez
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John Frum
23 Sep 2014, 08:29 PM
Prophet
actually, I think profit works as well, even if it wasn't intentional
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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Foxy
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Zero is coming...

Jimbo
23 Sep 2014, 09:58 PM
I had a look at few ex collegues Linkedin profiles the other day and they are scratching around for work. One was a quality Engineer at Dugald River and the other was at Jimblebar as a construction manager.

These people will get work, but it won't be the 200k+ a year work that they are used to. Meanwhile they have taken on commitments that require 200k+ a year salaries to finance.

Australia has vast resources and everyone will want them at some point, but we rushed in too hard with development to try and take advantage of silly market prices for commodities.

Interesting times ahead (to say the least).


They will be like a big turd after a buffet diner.
Caught half way in and half way out.

A full on push pull situation.

Do they upsize and down size at the same time??

What is going to happen gentlemen??

Peter

When all that money is not hitting the Perth property market what will happen.

Small bars hmmmmm now thats going to be interesting.

Are any of you invested in this market?? Know anyone that is??

Blood bath alert.
https://www.youtube.com/watch?v=eADGy8c3D8o

You know it's over when the dumb dumbs say it's over.

But it is just a little to late.

Good luck boys.

Oh the doors are locked.
Edited by Foxy, 24 Sep 2014, 10:11 AM.
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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Foxy
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Zero is coming...

http://www.theage.com.au/business/mining-and-resources/fortescue-debt-joins-junk-exodus-in-iron-ore-rout-20140924-10l621.html
Money for nothing and you ore for free.

https://www.youtube.com/watch?v=wTP2RUD_cL0&list=RDwTP2RUD_cL0
Can he tap dance?? :D

Ore maybe he needs to buy a bigger truck. :D

Peter
http://www.watoday.com.au/wa-news/barnett-government-banking-on-iron-ore-20140924-10l1dv.html

oh dear what could the matter be??

Peter from Perth
http://www.dailytelegraph.com.au/business/breaking-news/iron-ore-a-and-shares-hit-the-skids/story-fni0xqe3-1227068094661


What does this mean to monkey 1 renting house to monkey 2???

I just wonder.

https://www.youtube.com/watch?v=VSBDlsTyT60

Peter

As i say the VERY best of luck.
Edited by Foxy, 24 Sep 2014, 10:24 AM.
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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Ex BP Golly
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Did I hear that correctly?

$78.90.

Whoaaaa!
:lol
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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