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."

Sunday, June 3, 2012

Terry shifts from no move to a cut

Data flow on Friday night has changed Terry McCrann's view, which is fair enough. Today he says:

THINGS turned ugly on Friday and then turned very ugly overnight in Europe and the US. The gathering gloom increases the prospect the Reserve Bank will deliver another interest rate cut on Tuesday. And then further cuts after that. It's really now only a matter of timing and the size of the cuts. Will governor Glenn Stevens and his board try to pre-empt the economic storm bearing down on Australia, or react aggressively when it hits? Whatever, it's small comfort. We are now facing a perfect storm that could be worse than 2008.