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."

Friday, March 23, 2012

Glenn Stevens gives some advice to economists--don't forecast (ping @thekouk)

Classic homilies from my pal the governor of the RBA, Glenn Stevens:

Well, there are two rules of forecasting: first rule is don't. Second rule is if you do forecast, never forecast exchange rates because that is easily, without question, the most poorly forecast variable in economics.
at 9:02 AM