Tuesday, 4 December 2012

Mining boom over. Nothing to show. Harder times ahead

Andrew Bolt, Herald Sun (Australia)
"I repeat: the crisis we face is that the mining boom is over with nothing to replace it. And what on earth did we do with all that easy money? What trash did we buy? What surpluses squander? "
.....Mr Morse says China’s growth will slow from 10.5pc to 5.5pc by 2020 - Credit Suisse thinks it could be as low as 4pc, and the US Conference Board 3.7pc - but the crucial twist is that appetite for resources will wane as the Politburo calls time on history’s greatest building boom in history and opts instead for a modern, sleek, consumer and service-driven economy..."

No comments: