The author has been described by News Ltd as an "iconoclast", "Svengali", a pollie's "economist muse", and "pungently accurate". Fairfax says he is a "Renaissance man" and "one of Australia’s most respected analysts." Stephen Koukoulas concludes that he is "85% right", and "would make a great Opposition leader." Terry McCrann claims the author thinks "‘nuance’ is a trendy village in the south of France", but can be "scintillating" when he thinks "clearly". The ACTU reckons he’s "an enigma wrapped in a Bloomberg terminal, wrapped in some apparently well-honed abs."

Thursday, February 18, 2010

Largest equity market falls in history

Fascinating chart care of Guy Debelle at the RBA. It shows us two things: the equities market slump in 2007-08 was the second worst in recorded history; and it takes many, many years for the market to recover its previous peak. 1987 is actually worse than it looks--it took around 9 years for the market to consistently breach its 1987 highs.

at 11:45 AM