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."

Monday, May 16, 2011

Australia will require legislative change to increase debt ceiling

According to Citi's economists:

"The higher deficit projections until the Budget returns to surplus in FY13 imply an increase in the funding task of $A225bn in FY12. We do not expect this to materially impact interest rates, although the higher deficit forecast will require a change in legislation to raise the debt ceiling from the current $A200bn."