Is this a "Wile E. Coyote moment" for the aussie, asks Macquarie's Brian Redican, pondering...

|By:, SA News Editor

Is this a "Wile E. Coyote moment" for the aussie, asks Macquarie's Brian Redican, pondering Fortescue's slashing of capital spending plans. The impact on the economy of a rapid decline in mining investment will be severe, he says, and take no comfort from still-large spending plans on the books - as cash flows evaporate, these too will be cut.