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."

Wednesday, August 1, 2012

Roger Corbett talking down economy a week before RBA board meeting

Interesting story in the AFR today:

The economy is “in some distress” according to Fairfax Media chairman and Reserve Bank of Australia board member Roger Corbett. Mining was the reason for Australia’s good growth and job numbers, Mr Corbett told The Business program on the ABC, and said that a number of other sectors were in trouble. He stressed that he was not speaking on this occasion on behalf of the RBA, but commenting purely from the point of view of a citizen and a businessman... Other businessmen, however, have been critical of those they feel have made comments that could undermine confidence in the economy. Chief executive of the National Australia Bank Cameron Clyne said: “I strongly believe that this constant reference to two speeds is damaging confidence.” “It’s not giving the full picture of transition. It’s making the assumption that what’s going on now has never occurred before.”
at 9:45 AM