If you’re jealous of those with more money, don’t just sit there and complain. Do something to make more money yourself — spend less time drinking, or smoking and socializing and more time working.
Today she claimed that Australians should be willing to work for less than $2 a day:
Australian mining magnate Gina Rinehart has criticised her country’s economic performance and said Africans willing to work for $2 a day should be an inspiration.
Ms Rinehart is said to make nearly A$600 (£393) a second.
The richest woman in the world is making an increasing number of public appearances, and speaking of increasingly controversial topics.
I wonder why.
It couldn’t be that she is becoming increasingly aggressive and controversial because her core business is in trouble, could it?
Marc Faber suggests so:
There have been four mega bubbles in the past 40 years. In the 1970s it was gold; in the 1980s it was the Nikkei, and in the 1990s it was the Nasdaq. Bigger than all of them, though, has been the iron ore bubble, a tenfold increase in prices in less than a decade.
Here’s iron ore priced in dollars:
Julia Gillard’s denial seems to confirm the inevitable:
Australia’s mining boom is not over and its ‘death’ has been exaggerated.
That is her “subprime is contained“ moment.
Larry Elliott explodes the myth that this time is different:
Commodity-rich countries, like Australia, have never had it so good. China takes 25% of Australia’s exports and iron ore accounts for 60% of all the goods Australia sells to China. One reason Australia avoided recession during the global downturn of 2008-09 was that it had a well-run banking system. A much bigger reason was that the country had become a giant pit from which China could extract the minerals it needed for its industrial expansion. Money flooded into the country from sovereign wealth funds and hedge funds looking for AAA investments. The Australian dollar has soared, as have property prices.
China’s economy is now slowing, and although the economic data is not particularly reliable, it seems to be slowing fast. The country has two million unsold homes, with another 30 million under construction. There is a glut of iron ore and the price is falling. Where does that leave Australia? Horribly exposed, quite obviously. It has an over-valued currency, an over-valued property market, and its major customer is now desperately pulling every available policy lever in the hope of avoiding a hard landing. Whatever happens, the Australian dollar is a sell. Just how big a sell will depend on how successful Beijing is in reflating the Chinese economy.
Perhaps Gina Rinehart should spend less time drinking, socialising and writing awful poetry and more time preparing her business for the inevitable iron ore bust?




gawd that's a fat ugly aussie
The kind one has to roll in flour to find the wet spot. You're welcome for the "visual".
I believe her title is 'Lady Creosote.'
Golf Clap for the headline Tylers. Well done you.
I'm her huckleberry
must see a bonzai production of her floating like baron harkonnen...
Ms Rinehart, I'm your sugar baby.
She has a gravity well for crying out loud. If the light hits it right. you'll see that she's developed a ring from previously scarfed meals.
Toast point crumbs, tiny pheasant bone fragments, little flecks of filet mignon.
She's more like a Bloviating BLIMP
You seem to have struck a raw nerve with the bloviating blimp subset of society. Anger a la carte.
Back to Rinehart, she does look pretty gassy. With spontaneous combustion, she could probably pull off her own Hindenburg moment.
When you're as rich as her, does it really matter.
Of course I find her physically repulsive, but if she was a man, would all of the above be typed on this board? Say what you would like, that's what I like about 0Hedge. Very politically incorrect. However an old fat man vs an old fat woman... is there a double standard? I'm just sayin'.
Jabba the slut.
Good Lord, she is almost biblically representative of her "class".
the Marie Antoinette of the 21st century
That fat fuck can bend space-time.
And those Tuck-Shop lady's arms give me the chills.
Fat Bastard: Of course I'm not happy! Look at me, I'm a big fat slob. I've got bigger titties than you do. I've got more chins than a Chinese phonebook. I've not seen my willie in two years, which is long enough to declare it legally dead.
[on the verge of tears]
Fat Bastard: I can't stop eating. I eat because I'm unhappy, and I'm unhappy because I eat. It's a vicious cycle. Now, if you'll excuse me, there's someone I'd like to get in touch with and forgive... myself.
Fat Bastard: [Farts] Sorry. I farted. It's a long road ahead.
I finally understand the phrase - money can't buy you happines...
Watch out for lipoedema Gina, those are hell of a thingamajicks...
Nice!!!
I look forward to seeing her head on a pike.
First someone send her a roasted pig, she looks hungry...
Happy (sad for my stocks) to see iron dropped in price, but not for her.
Kosher blimp.
Shut up you guys. I'll bet her daddy loves her.
In my world, she would have been T-Boned driving a Prius on the drivers side by Falcones drunk old lady in her Mercedes.
Well here's the real deal folks. Her daddy hated her. Not only that her kids hate her. Frank passesd away and left everything to his Filipino maid, Rose Porteous, rather than her. She is currently in a lawsuit with her 2 kids and it's not looking pretty on her side...she's a bag of garbage...
M A D C O W
Japs need to step-up their Whaling.
Genetically cross Homer Simpson with Monty Burns, give it a sex change and a lobotomy, keep it in a MacDonalds for 6-months, and out pops Gena Rinehart.
I beg to differ with you on the lobotomy. She may be ugly, but she's not stupid.
She may have inherited a few million dollars from her father, but you don't turn a few million into billions by being a dumbshit.
I had to sign in to give that one a THUMB UP! Harsh, but at $400 / second - she can probably take it. At A$600 / second - she can take it and eat toro, toro, toro all the way to the bank.
How many seconds, at A$600 / second, could you stand being on the bottom while she had her fun with you?
I can hold my breath for about 40 seconds - for $24K, well, uhm, no. I'll get back to you when I can hold it for 4 minutes or more. By then, however, I might have to deal with crushed organs. Ah, fuck it. Back to the mines.
It is actually "Gina The Hutt"...
We have Jabba too
http://www.couriermail.com.au/business/clive-palmer-in-36bn-hk-float-to-...
I have a better picture of her...
http://images1.wikia.nocookie.net/__cb58378/starwars/images/7/7f/Jabba_S...
...and her cooter probably looks like a tired dogs mouth
hows that for a visual?
Like a Bulldog eating mayonnaise?
Or an oyster that crash-landed at high speed. That woman is uglier than a can of smashed assholes.
"bulldog eating mayonnaise" I logged in to say that is disgusting but some nice word smithing..
I swear to God, one day I will make a shitload of vanilla pudding and eat it out of one of those giant Hellman's mayonnaise jars...Just can't decide the best spot... either my doctor's office lobby or a Whole-foods/ organic market sort of place.
More rolls than a bread truck.
I heard she had her staff train six golden retrievers to sniff out and slurp out any cooter issues.
How's that for a visual?
Dude, I just thew up in my mouth!!!
There a piece in every crease though.
lets keep this sterotypical.....i'd do her.....
EEEEEEEYUUUUU....... Where's the eye bleach?
Ode To A Small Lump Of Green Putty I Found In My Armpit One Midsummer Morning
She is just pissed because she has not seen her feet in 35 years and has to tuck her floppy tits into her shoes!
I'm going to need a lot more popcorn.
gee all that cash and you would think she would have full time liposuctionist ( a person who sucks lipos).
I wonder if she owns any KFC franchises close to home??
And a Vogon as well.
As an Australian myself I am absolutely embarrassed and ashamed of this fat cow. Her diet of McDonald's with pure Aussie beef is regurgitating some ugly commentary back out of its disgusting ugly mouth.
B'dias amigo.
Perhaps Gina will start the movement of $2 a day wage and spread the excessive wealth that she skims from the Ozzi people, around more fairly. If the wages were in gold and silver I guess that $2 a day would be reasonable. As it is, this globalized glutton represents the height greed and the ugliness of the fiat currency, wealth extration machine that the rich and powerful employ against the workers. I don't begrudge someone the fruits of hard work and good fortune but I do rail against the rich pitting the desperation of laborers against each other, to glean more than they deserve. It's callous and gluttonous, as depicted by her habits. She's a pig of a person and deserves a come-uppence.
Confiscate the wealth of the 1% ers. Leave 'em with $500 million max.
Now, we're starting to get somewhere.
"but I do rail against the rich pitting the desperation of laborers against each other, to glean more than they deserve..."
Sweet Jesus, man, haven't you just described the entire "Free Market"/Globalization shitshow?!?
Exactly.
'Bought time ZH stepped on this cockroach--and she is certainly is a big cockroach.
She probably pays those Africans $2/hr to squeegee the swelter sweat off of her, or maybe to mine salt from her many folds.
can we see Iron ore priced in terms of some other metals ?
Basted in a honey-glaze sauce at 350 for 12 hours with an apple in her mouth, and she would be of much more use to the "little people" than the cock and bull BS she is currently spouting off. This is starting to become class warfare reminiscent of the good old 1800 and 1900s.
She's already made a shitload of money, so why should she care?
So why should we care?
Another BS Aziz article.
Here's a reason for caring: Oz and the miners provide a classic case study in malinvestment, boom-and-bust, myopia and denial. There are plenty of instances of insider trading and gov corruption. The situation in Oz should be a warning of how complacent a society on the brink of disaster can be.
AzizSensationalism!
Find an image of an unattractive, obese player in the system and let the venom rain.
FFS, you are all too timid to handle a woman of this magnitude!
she's kleptofacist and you know it
she'd sooner have you as a slave than bat an eye, what's up with your shit twinkie funt
Yes, already I have vivid fantasies of her brutality. The rich, hideous mistress always did it for me.
A carrier deck couldn't handle a woman of that "magnitude".
Delete - dupe.
Ok, then I suppose masturbation at the images of Chuck Norris is more your style. I want that bitch on my side.
even an african miner, would want more than two bucks, to hit that.
Laff.
African miners would find her as their model woman.
I understand that dorky financiers prefer anorexic blondes from Norse lands.
The sloven, malcreant, so-called elite hate one thing above all else. Being laughed at as the morally bankrupt caricatures that they have become. They really, really hate that.
So why do you spend what little capital you have defending them?
Take note of Fortescue, massively overleveraged to fund expansion on expectation of continued high iron ore prices which have taken a dump.
They aren't the only ones...
Much the same as the Australian Fed Gov expecting massive tax reciepts due to their well timed Mining Tax which is supposed to fund their profligate spending, not to mention help fund compensation payments for their also well timed Carbon Dioxide tax.
The popping of the iron ore bubble will pop a few more bubbles here downunder...
Yes your right - FSG is going belly-up unless the Chinese Calvery come with large supplies of wontons to swollow the thing whole and without even the obligatory "Burp"
Juliar is toast, as is the surplus, as is the entitlement society that comes with it.
The Trouble with socialism is that eventually, you run out of other peoples money - Iron lady Thatcher
(the above does not apply to Ben Bernanke who just keeps giving)
Yes, I remember hearing not too long ago that the Australian housing market was different and therefore sustainably priced. Let's see how that pans out.
Whatever the realities of the Australian housing market, the whole article inevitably suffers credibilty issues when it says things like:
The country has two million unsold homes, with another 30 million under construction.
When the population of Australia is only 23 million...
Or... did the authors poor grammar manage to mangle the construction of the piece so much as to confuse the issue as to which country's housing he was talking about?
Elliot was refering to China not Austraila when he stated that they had 30 million under construction. Nothing wrong with his grammar he was refering to the last country he mentioned, China.
Your typos lead me to believe you were up too late...
It still brings us back to Central Banking Debt Induced Money. The mines would have been able to absorb contraction if they had not borrowed so much. Pure market forces would have prevented over inflated borrowing. The Banksters with free money induce debt, and eventually debt slavery and ultimately asset confiscation via bankruptcy. The banks win no matter what...it's the Central Planners playbook that must be destroyed.
She's already *inherited* a shitload of money you mean.
Three ways to make money in Oz: gamble, steal or inherit.
http://s1144.photobucket.com/albums/o489/_DrBenway/
rich kobe beef cow.
No Shit. If I had to be that fat to have her money I would pass.
i'd take the money ...then go on a diet ...eventually!
but that wouldn't cure the UGLY
She might want to spend a little more time exercising body parts besides her mouth...
there ain't a paper bag thick enough or a flag large enough......
Three bags.
..... of Flour and don't forget the Twine (please don't forget the "find your way out" Twine
I prefer a 2x4 strapped across my ass, limits overpenetration..
Let them eat Cake
Looks like she got most of it
Delicious cake...
http://media.rob.nu/wp-content/uploads/2009/08/omnomnom-cake.jpg
A few days back i made a call to short Australia. In fact i didnt have Australia in my mind, much less Chinese statistics or commodity prices.
My reasons shall stay my own, suffice to say that the AUD does not fare well between a strong Euro and USD.
Why speaking about "no benefits" or "2 dollars per day" people always mean somebody else, not himself/herself?
A bubble? More like a gas bag!
This smacks of class warfare. She obviously earned her wealth, how else could she be so rich and powerful? The poor need to get busy.
once upon a time :> a pi-rat walks into a bar...
...he meets an intelligent woman who is totally shit-faced, wearing fuk-me shoes and has a head the size of a volkswagen...
.. she weighs 365 lbs if she weight on ounce...
and.. (to be continued..)
You didn't hit that.
gina? nope!
not nearly cute enough for a pi-rat
too small too!
Are you into feederism, love? Or you just like big girls?
the pi-rat rulz!
I love your feces, bro.
These shoes?
I can't get my wife to wear them.
I look forward to the rest of the story.
how many pair does she have, spaz?
i think that link is the combat model
try nordstrom's?
or yer wife's closet?
but yes, the 4-inch minimum lift is tres important; and it can be a fuk-me even on snowshoes
just ask her! L0L!!!
see ya!
I just can't get my wife into... She just doesn't dig... Oh, never mind.
Platform stilettos.
She's Australian. She wears thongs. Not that kind of thong. Flip-flops. Fuck, that picture has gone into my long term memory. The memory erasing remedy, it does nothing.
http://www.youtube.com/watch?v=EryhQdXTjP8
Let her eat Oprah.
She did.
MY EYES ARE MELTING
My Eyes. The gogles do nothing.
http://www.youtube.com/watch?v=OqfOxm_1BE0&playnext=1&list=PL993C4F970C0...
I need to rinse my eyes out with some anhydrous ammonia to get rid of that picture.
Fucking fat beast.
Ugly.
Inside and out.
She and John Candy...the only people to eat the Paul Bunyan Blue Ox '96er.
http://www.evtv1.com/player.aspx?itemnum=8865
Shooooooooooort.
Now that she's rich beyond belief and the price of iron is collapsing, it's time for her to shoot her miners and insource some unshot miners from South Africa.
with all that money...you'd think she could find the time to put her fat ass on a stair master once in a while.
damn.
Iron ore is her #1 mine, se also owns the peanut butter M&M mine in Western Queensland. That mine is hurting as well as she is eating nearly 40% of its production.
Salad all over the screen. Magnifique!
birth control masking as a beluga
egad :shudders:
Energy costs are a big part of mining. iron ore is worth nothing really its the most plentiful of all.. its the energy involved in extracing adn refining.. So as we all know energy prices arnt coming down and so this will certailny cushion any decline in ore prices from falling (chinese) demand.
if everything goes to shit then mines are worth more than fashion outlets and facebooks.
Ill take the mine anyday.
booms in iron ore are rare because of recycling also
good point. also energy intensive though. i just dont think its a bubble in the conventional sense.. can bubbles only deflate half way and still be a bubble?
a collapse of 50/60% is likely but not 80/90%
imo marginal demand for iron ore has been largely a china thing recently with some speculation thrown in. defaults on contracts have been cropping up in the news. from an energy standpoint making steel from ore is much more intensive than recycling. if they start scrapping ships (check shipping rates) look out.
if you look at the chart it went expo at around the same time as everything else.. something to do with benny and his printing press. prior to the printathon prices were rising in a relatively stable way.
i think we correct back to 65 and then move slowly up again.. its all nominal prices at the end of the day though. central banks are gonna call this one for us..
either way.. people will always need metal of some description and china has a lot of people. working ships dont get scrapped for steel only old redundant ones. For them to start scrapping tankers and yachts the ore price would have to be much HIGHER to make it worht while.
having said all that. i think we agree here. Prices will fall (a lot) before they rise again
She's a bubble
Don't get around that bubble with a pin cause you will get rich expensive gravy all over yourself.
This type of woman herniates her intestines regularly. Pays doctors millions to stuff her intestine back into her pig bloated carcass. I would take a meth-loaded, teary-after-crashing-the-car-in-Montauk Lisa Falcone over this walrus anyday.
True wealth = healthy, good looking body.
Mean fucking comments, but so damn funny!
You don't understand. She got where she is by being smarter and harder working than you. Just better. Nothing to do with a bubble or luck. You common little man.
That's really how they think. Now if she really was smart she'd have divested herself of stock at the peak. As it is she'll wait till 90% is gone, then sell at the bottom. Aanndd ... just put on a short position on the aud.
ODE TO A SMALL GREEN LUMP OF PUTTY I FOUND IN MY ARMPIT ONE MIDSUMMER MORNING
No Vogon Poetry allowed. This is Fight Club. Not literaryily us to death club.
What Gina Rinehart actually said:
Misquoting for the purpose of personal ad hominem attacks is the hallmark of the Left.
+1
typical aziz article
I was just quoting from the BBC article, which I sourced via hyperlink:
http://www.bbc.co.uk/news/business-19487985
As far as I can tell, she did imply that working for $2 a day was inspirational and that Australia should look to compete with those low levels.
Anyway, that's not the issue — I have nothing against Gina Rinehart. The issue is the bubble.
It's bursting.
No, John, she was clearly not referring to or implying that African wages were "inspirational".
She was clearly referring to the cost of doing business in Australia, with a Socialist Government taxing the beejesus out of the industry with new taxes, industrial relations practices, green tape and the Indigenous hand-out industry effectively destroying competitiveness.
I'm glad that you have "nothing against Gina Rinehart".
One wonders, then, why your final sentence reads:
Good to see fair and balanced commentary, John.
You nauseate me spdrdr with your pathetic defence of this morally bankrupt sociopath. She dares to lecture Aussies on their work ethic when all she has ever done is inherit her daddy's mining leases and spend millions of dollars in legal bills trying to ensure her own kids don't get access to any of the inheritance.
And as to your attack on the 'socialist' Australian government - LOL. What a wanker you are. The government caved into the Rinehart and the rest of the big miners and watered down the mining tax to almost total insignificance.
She has actually proposed a special immigration zone in Western Australia where she can import cheap labor to work the mines, unencumbered by any existing Australian conditions of employment. There is no doubt she would leap at the chance to have $2 a day workers from South Africa in her mines.
Chook,
You are a degenerate imbecile. Enjoy the rest of your life in the 99%.
spdrdr - enjoy your life in the 0.00000001 % - those who are prepared to lick Gina's asshole.
I have little doubt that she if could she would employ horrendous safety conditions if possible and could care less if they stacked workers like cordwood at her mines just as long as production didn't lag. She's a moral bankrupt and disgusting individual.
Of course, the resentful losers fail to appreciate that Rinehart increased her 1992 $75 million inheritance to a current $29 billion.
Without, might I add, importing cheap labour, compromising worker safety or usurping workplace conditions.
All the losers (including the entirety of the Gillard pustule of a Government) wish for is redistribution of da wealth. Politics of envy.
Now I get it! You ARE Gina (spdrdr - sociopathic plutocrat derives rich daddy's royalties). Welcome to ZH!
Do you want a job?
I have too much self-respect to work for that 'woman'.
...Africans want to work and its workers are willing to work for less than $2 per day.
That ship sailed bitch or don't you read the newspapaers.
She makes me chubby in me trousers
I think I can sum up her thinking. The Aussie miners, who she seems to despise, took her advice, formed a union and started making more money. African miners are so inspirational to her because they get shot for asking for more wages. Based on this line of thinking I can state Gina Rinehart wants to shoot Aussie miners. (edit- /sarc just to be on the safe side)
Today she claimed that Australians should be willing to work for less than $2 a day:
Not being sexist, but I'm assuming she originally inherited her wealth.
She did, from her father Lang Hancock.
She's well aware that China will start selling stockpiles and drive the price of iron ore to less than the cost of production. All the mining stocks will tank. China will then swoop in with its huge foreign reserves and buy the whole mess for next to nothing. It's a classic commodity maneuver.
If one is gonna hate the wealthy, she sure makes it easy.
Not even pleasant to look at for crying out loud.
Eat the rich! Its why they're there after all.
I saw a fat chick riding a mini-bike today, and thought about that old joke about both being fun to ride until your friends saw you ... I'd ride her for a billion or two.
L0L!!!
in your heart you already have[jimmieCarter]
I'd ride her for a billion or two.
she's all yours bro
"..."Australian mining magnate Gina Rinehart has criticised her country’s economic performance and said Africans willing to work for $2 a day should be an inspiration..."
[expletives about mike hunt deleted].....she is making 600 usd/sec and is satisfied that people mining her crap or someone else's crap are making 2 usd per day is an outrage beyond words....fuck you bitch!!!!
give to cross international, a relief organization helping the hungry children in mozambique and elsewhere in africa....do not lower yourself to her level - she is scum of the earth and just because she can wrap herself in miles of designer sheets - and still need more yardage - doesn't give her one extra fiber to pull herself out of moral turpitude....she is a vile disgusting bitch......she is no role model whatsoever.....a self indulgent condescending marie antionette....
how can anyone smugly comfort herself with someone making 2 dollars per day and living in squalor.....i know she approves of nike's slave labor camps in indonesia