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, September 7, 2012

Great US and European economics news

CBA report:

The US ADP survey indicates that 201,000 private sector jobs were created in August, well above forecasts of around 140,000. New claims for unemployment insurance fell from 377,000 to 365,000 in the latest week. And the ISM services index rose from 52.6 to 53.7 in August, above forecasts for a result near 52.5.

The ECB has agreed to launch a new bond buying programme designed to restrain borrowing costs for embattled nations. No limits have been placed on the bond buying: "No ex ante quantitative limits are set on the size of outright monetary transactions". At the same time the ECB kept interest rates unchanged at 0.75%.