The Mining Industry Has Shed $1.4 Trillion in Market Cap Since 2011

Miners are people too.

Look at the shares of RIO, VALE, FCX and BHP; it’s representative of what has taken place in this once proud, gigantic Chinese dependent industry.

“It’s terrible, there are no two ways about it,” said Paul Gait, a mining analyst at Sanford C. Bernstein Ltd. in London. “A lot of people were hoping at the start of 2016 to see at least some stabilization in the commodity performance in these stocks. Essentially people were looking to close the consensus short that has characterized 2015. This has clearly not happened.”

Enough can’t be said about the debilitating effects of this Chinese slowdown. Aside from miners, mining related stocks like JOY and CAT are feeling the burn too. These companies, like the oils, are saddled with massive amounts of debt. It’s like everyone got really fucking stupid 10 years ago, levered up their businesses to sell a bunch of shit to one customer.

No one thought about “what if this customer dies?”

Well, the customer is fucking dying and now you’re fucked too.

Happy bankruptcy filings.