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, September 10, 2010

Another take on Japan's deflation problem

I've argued for ages that all Japan's woes can be traced back to demographics. Morgan Stanley do the same, although with a new edge. Basically they argue that the ageing nature of Japanese society means that they favour deflation given that they these people effectively control parliament, and hold a large proportion of fixed income securities. They also make the point that it is a problem the BoJ does not have an inflation target, I think. Read about it here.