So this boom that has rained bucks on its beneficiaries and disadvantaged the majority in myriad ways – in Perth, at least – appears to have busted. Slow handclaps for the stockbrokers and financial media seers who declared time and again with unshakeable confidence that China’s dizzy growth rate was assured for another three decades, regardless of America’s economy or the state of global markets. Add India, the other waking giant, to the mix and we had a cake that would just keep on a-risin’. Turns out, ’twas more like a souffle full of hot air that escapes with a hiss when taken out of the oven, leaving big ambition and great expectations collapsed in a cheesy heap…
I say three cheers for the bust. The boom has misshapen the Perth community quite grotesquely in all sorts of ways. Here are a few obvious examples: Continue reading Three Cheers For The Bust→
Now, for your delectation, the final podcast in this series of excerpts from my interviews with Perth mining company executive and boom beneficiary, Mr Hilton Casey-Urqhuart-Newton-Thomas.