Commodities crash could turn Australia into a new Greece

Commodities crash could turn Australia into a new Greece

From telegraph.co.uk

Last month Gina Rinehart, Australia’s richest woman and matriarch of Perth’s Hancock mining dynasty delivered an unwelcome shock to her workers in Western Australia: accept a possible 10pc pay cut or face the risk of future redundancies. Ms Rinehart, whose family have accumulated vast wealth from iron ore mining, has seen her fortune dwindle since commodity prices began their inexorable slide last year. The Australian mining mogul has seen her estimated wealth collapse to around $11bn (£7bn) from a fortune that was thought to be worth around $30bn just three years ago. This colossal collapse in wealth is ... (full story)

Poor old girl. tries to screw family, now trying to screw her workers. What goes around ,comes around.

Quoting Sniper2000

Disliked

Poor old girl. tries to screw family, now trying to screw her workers. What goes around ,comes around.

Ignored

this old old news the telegraph is quoting news from the early 18th century

because they lost the second cricket test match this is the news we are getting sore losers I recon fair dinkum

naahh, 15% GST should fill the hole

Old news yeah.. but not getting any better and numbers look grim going forward?

Ahh, looks like it's all over. Will have to grab me swag, billy and fishin' line and go bush....

Canada's economy is more sensitive to oil price, so no, I do not think so.