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."

Wednesday, June 13, 2012

RBA governor handicapping household wealth growth at 3% real pa

Very important point made by the RBA governor again today, and which everyone seemed to miss in his speech last week. In the future, expect real per capital household wealth to grow at about half the rate it increased by in the 1990s and 2000s. Instead of 6% per annum real per capita wealth growth, the governor is handicapping future growth at about 3% per annum (as disclosed in his speech). In fact, you can get lower numbers if you think about it carefully...


at 9:27 AM