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, January 20, 2012

Alan Kohler on the impact of RBA rate cuts...

In Business Spectator today:

"The Reserve Bank will keep cutting interest rates but this will have absolutely no impact because first, the banks will dribble out only part of them; second, there are a lot more savings now than there used to be, for which a rate cut is an income cut; and third, because mortgagees will use any reduction they get to increase principal repayments, and leave total repayments where they are."