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, August 2, 2011

Terry McCrann's moment of truth...

Almost all commentators, and others of the lily-livered variety, are arguing that the RBA need not worry about its inflation target, and can let the current 40% miss slide, just like they did in 2006-07. Not News Ltd's Terry McCrann. The grand-daddy of the Aussie hawks has invested a huge amount of brand capital in a hike today, as you can see from his latest article. I, of course, agree with him: in fact, I have argued that it was a mistake not to hike in May, a position that subsequent data have well and truly vindicated. McCrann seems to be the only media commentator with kahunas big enough to make these calls.