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Post by ratty on May 29, 2024 0:31:19 GMT
Spoke to the state mining inspector for our district today, told him we were shutting down for the foreseeable future. He said that many are. It's a strange situation, because our business is fairly lean and generally an easy business to prosper in. But the difference right now is an almost complete absence of 'opportunity'. It's really just not there anymore. It's been like that for over a year now but we seem to be entering rock bottom this quarter. So we have accumulated enough inventory to last over a year easily, we will just coast. Sucks for the workers. My point is, if business is simply no longer interesting to us, as fairly easy as our business was to run, how bad must things now be? Anyway, my .02. Sad to hear that, Walnut.  |
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Post by walnut on May 29, 2024 0:43:26 GMT
Spoke to the state mining inspector for our district today, told him we were shutting down for the foreseeable future. He said that many are. It's a strange situation, because our business is fairly lean and generally an easy business to prosper in. But the difference right now is an almost complete absence of 'opportunity'. It's really just not there anymore. It's been like that for over a year now but we seem to be entering rock bottom this quarter. So we have accumulated enough inventory to last over a year easily, we will just coast. Sucks for the workers. My point is, if business is simply no longer interesting to us, as fairly easy as our business was to run, how bad must things now be? Anyway, my .02. Sad to hear that, Walnut. Thank you Ratty, I appreciate it, but we are fine. Not really a problem. My point is, it sure seems like a recession to me! And not a small one. By the way, Australia is a major mining powerhouse. Mining is 14% of Australian GDP. |
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Post by ratty on May 29, 2024 2:08:37 GMT
Sad to hear that, Walnut. Thank you Ratty, I appreciate it, but we are fine. Not really a problem. My point is, it sure seems like a recession to me! And not a small one. By the way, Australia is a major mining powerhouse. Mining is 14% of Australian GDP. ... and current government, in concert with the Greens, are hell bent on closing it down. I hope reality bites soon. |
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Post by glennkoks on May 29, 2024 18:17:19 GMT
Spoke to the state mining inspector for our district today, told him we were shutting down for the foreseeable future. He said that many are. It's a strange situation, because our business is fairly lean and generally an easy business to prosper in. But the difference right now is an almost complete absence of 'opportunity'. It's really just not there anymore. It's been like that for over a year now but we seem to be entering rock bottom this quarter. So we have accumulated enough inventory to last over a year easily, we will just coast. Sucks for the workers. My point is, if business is simply no longer interesting to us, as fairly easy as our business was to run, how bad must things now be? Anyway, my .02. I am sorry to hear this as well. I would love to get your thoughts on this and the economy as a whole. From years of reading your comments I assumed you mined slate, rock or other material used in home construction? Is the slowdown mostly due to the higher interest rates and the housing/construction industry? Here in Texas everything still seems to be going ok with the exception of inflation. It costs so damn much to live now. My weekly grocery bill for a family of 5 averages over 350.00 a week. |
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Post by code on May 29, 2024 18:42:35 GMT
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Post by code on May 29, 2024 18:47:14 GMT
Spoke to the state mining inspector for our district today, told him we were shutting down for the foreseeable future. He said that many are. It's a strange situation, because our business is fairly lean and generally an easy business to prosper in. But the difference right now is an almost complete absence of 'opportunity'. It's really just not there anymore. It's been like that for over a year now but we seem to be entering rock bottom this quarter. So we have accumulated enough inventory to last over a year easily, we will just coast. Sucks for the workers. My point is, if business is simply no longer interesting to us, as fairly easy as our business was to run, how bad must things now be? Anyway, my .02. Forgive me for asking to have you refresh my memory? What have you been mining? |
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Post by duwayne on May 29, 2024 19:17:51 GMT
This doesn't speak to your claim that the China debt ratio is double that of the US. |
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Post by glennkoks on May 29, 2024 19:56:50 GMT
This doesn't speak to your claim that the China debt ratio is double that of the US. Our debt to GDP ratio is 120%. China's is 287%. The last time I checked 287% is twice as much as 120%... |
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Post by nonentropic on May 29, 2024 22:12:01 GMT
The debt thing is interesting.
There is an issue that we in NZ kind of ignore, we have relatively low debt levels and when discussed the left wing NZ press say well Japan has multiple times higher government debt but they in Japan have purchased massive amounts of bonds and shares to drive demand and reflate the economy for 25 years, it didn't really do much, but also it was purchased with Japanese savings that is not the case in NZ.
If the people of a country hold their own government debt that demands a discussion about future tax but not sovereign policy.
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Post by walnut on May 29, 2024 23:46:29 GMT
Spoke to the state mining inspector for our district today, told him we were shutting down for the foreseeable future. He said that many are. It's a strange situation, because our business is fairly lean and generally an easy business to prosper in. But the difference right now is an almost complete absence of 'opportunity'. It's really just not there anymore. It's been like that for over a year now but we seem to be entering rock bottom this quarter. So we have accumulated enough inventory to last over a year easily, we will just coast. Sucks for the workers. My point is, if business is simply no longer interesting to us, as fairly easy as our business was to run, how bad must things now be? Anyway, my .02. I am sorry to hear this as well. I would love to get your thoughts on this and the economy as a whole. From years of reading your comments I assumed you mined slate, rock or other material used in home construction? Is the slowdown mostly due to the higher interest rates and the housing/construction industry? Here in Texas everything still seems to be going ok with the exception of inflation. It costs so damn much to live now. My weekly grocery bill for a family of 5 averages over 350.00 a week. Glenn, the slowdown seems to be construction/real estate/ interest rate oriented. Misery loves company though so I'm waiting for this to reach the rest of you guys lol. It's high grade building stone/flagstone, chopped stone and steps etc. It is a quarry business but the State and the Feds deem that it is "mining" so there is a 100+ page permit process with dozens of maps and legal work and quite a burdensome ordeal to prepare. We get visited by the state and MSHA authorities frequently, and our workers have to attend mining school and be certified with everything current. Code, I think that is what you were asking too. But for all that fuss, it's not really a big operation. I'm an optimist and I am aware that things could turn on a dime and get better again, recession recoveries are never announced and by the time that you realize it's over, some people have been in a boom for several months and you have to hustle to get caught up. On the other hand, I don't feel a recovery coming around the corner. |
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Post by glennkoks on May 30, 2024 1:39:27 GMT
I am sorry to hear this as well. I would love to get your thoughts on this and the economy as a whole. From years of reading your comments I assumed you mined slate, rock or other material used in home construction? Is the slowdown mostly due to the higher interest rates and the housing/construction industry? Here in Texas everything still seems to be going ok with the exception of inflation. It costs so damn much to live now. My weekly grocery bill for a family of 5 averages over 350.00 a week. Glenn, the slowdown seems to be construction/real estate/ interest rate oriented. Misery loves company though so I'm waiting for this to reach the rest of you guys lol. It's high grade building stone/flagstone, chopped stone and steps etc. It is a quarry business but the State and the Feds deem that it is "mining" so there is a 100+ page permit process with dozens of maps and legal work and quite a burdensome ordeal to prepare. We get visited by the state and MSHA authorities frequently, and our workers have to attend mining school and be certified with everything current. Code, I think that is what you were asking too. But for all that fuss, it's not really a big operation. I'm an optimist and I am aware that things could turn on a dime and get better again, recession recoveries are never announced and by the time that you realize it's over, some people have been in a boom for several months and you have to hustle to get caught up. On the other hand, I don't feel a recovery coming around the corner. I feel your pain. As a commercial fisherman I work in one of the most heavily regulated industries in the nation. I am told when I can fish, where, with what gear, how much I can harvest... The list goes on and on so much regulation it is impossible to keep track of. Unfortunately to make a living in my industry you pretty much have to be an outlaw... I am assuming the rest of the nation will follow construction/real estate in the months to follow. |
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Post by Sigurdur on May 30, 2024 10:07:44 GMT
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Post by duwayne on May 30, 2024 15:02:15 GMT
This doesn't speak to your claim that the China debt ratio is double that of the US. Our debt to GDP ratio is 120%. China's is 287%. The last time I checked 287% is twice as much as 120%... So you are saying that China's government debt plus private debt as a percentage of GDP is twice the US private debt percentage? Wouldn't it be more informative and less biased to compare similar things like China government debt as percent of GDP to US government debt as a percent of GDP? |
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Post by code on May 31, 2024 17:09:20 GMT
Glenn, the slowdown seems to be construction/real estate/ interest rate oriented. Misery loves company though so I'm waiting for this to reach the rest of you guys lol. It's high grade building stone/flagstone, chopped stone and steps etc. It is a quarry business but the State and the Feds deem that it is "mining" so there is a 100+ page permit process with dozens of maps and legal work and quite a burdensome ordeal to prepare. We get visited by the state and MSHA authorities frequently, and our workers have to attend mining school and be certified with everything current. Code, I think that is what you were asking too. But for all that fuss, it's not really a big operation. I'm an optimist and I am aware that things could turn on a dime and get better again, recession recoveries are never announced and by the time that you realize it's over, some people have been in a boom for several months and you have to hustle to get caught up. On the other hand, I don't feel a recovery coming around the corner. I feel your pain. As a commercial fisherman I work in one of the most heavily regulated industries in the nation. I am told when I can fish, where, with what gear, how much I can harvest... The list goes on and on so much regulation it is impossible to keep track of. Unfortunately to make a living in my industry you pretty much have to be an outlaw... I am assuming the rest of the nation will follow construction/real estate in the months to follow.  |
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Post by walnut on May 31, 2024 20:01:13 GMT
The stock market is apparently completely disconnected from main street. Where do I sign up to join the cabal? I will start in the mail room, or whatever it takes.
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