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, September 13, 2011

Old Man Glynn: RBA "Open-Minded"

Dow Jones's James Glynn is one of the oldest specialist RBA-watchers going around. He's a beaut bloke, to boot. His Money Talks Column is always good value. Here is an excerpt:

"AUSTRALIA'S unemployment queues have lengthened alarmingly in recent months, snuffing out all talk of further Reserve Bank rate increases for now. But for interest rate doves -- those looking for a cut, particularly given the volatility on the stockmarket -- the central bank isn't yet ready to signal a shift toward an easing stance. The best way to describe the RBA right now is open-minded. Unemployment jumped to 5.3 per cent in August, from 4.9 per cent as recently as April, rattling assumptions that a once-in-a-century mining boom would ensure prosperity for all."