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, August 30, 2012
Better US economic news
The US economy grew at a 1.7 pct annual pace in the June quarter. The result was in line with market expectations but up from the advance estimate of 1.5 pct. And pending home sales rose by 2.4 pct in July, ahead of expectations and hitting the highest level in more than two years. The Beige Book assessment of the US economy from the Federal Reserve said that "economic activity continued to expand gradually in July and early August across most regions and sectors." Further, "most districts reported that employment was holding steady or growing only slightly."