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."

Tuesday, January 11, 2011

Good oil is that Ross Garnaut will replace Warwick McKibbin on RBA Board

That's what I am hearing. Ross Garnaut is an economic expert on China and India, and, more recently, climate change. His son is the SMH's correspondent in Beijing. In fact, I am pretty sure Garnaut was once Australian Ambassador to Beijing. I also think his first wife owns one of the top restaurants in the city, Capital M, although that could just be a coincidence. McKibbin has been outstanding on the RBA Board, and will be a massive loss in terms of independence and external expertise. Taxpayers were fortunate to have him there for so long. Some argue that he is being punished for being so outspoken in his criticism of the government's management of the crisis, and the ongoing extent of fiscal stimulus in the economy. I suspect Warwick will enjoy being free of his RBA shackles. It will be fascinating to hear what he has to say about the RBA's governance once he has distanced himself from the Bank.