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."

Saturday, July 14, 2012

RBA: Aussie banks are increasing their Asian risks

I was banging the table about this issue well before the RBA and APRA jumped on the bandwagon. But it is good that they have embraced it. This chart from the RBA's Phil Lowe was revealing. Recall that the single greatest "claimed" strength of our banking system during the GFC was the absence of overseas exposures...