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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, May 21, 2011
Why UK and US output gaps might be bogus
Nicholas Gruen asks me to explain. In short, because supply capacity has been destroyed. This chart shows forecasts from the Bank of England and the UK's OBR, which starkly illustrates what I am talking about. Read the full FT article here for more.
