No longer an ugly duckling

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Jovial Monk

No longer an ugly duckling

Post by Jovial Monk » Wed Oct 21, 2009 9:59 am

One of the joys of owning a HBS is only having to open at 10.00am. So when I woke too early this morning I grabbed last weekends Fin Rev and did some reading.

There was a big spread on Swannie, more than a page, and it was all very approving.

Swan consults, not just his own Dept but the RBA and business. Tip hardly consulted even his own Dept except for them to coach him on how to answer certain expected questions. Coach him in rote learning like a fucking actor not a Treasurer!

On his travels Swan saw what was about to happen and so the first stimulus was worked out then even braver the second $42Bn stimulus.

The AFR article did mention his early, faltering performances in Parlt and esp QT. But they also noted he is not like that anymore! They said Keating was similar (didn't mention that Tip started of pretty ordinary too.) The article mentioned Swan & Keating had little economic knowledge, again leaving out Tip who still has no economic knowledge :) That was actually wrong, Swan at least did study ecnomiccs for his MBA and even collaborated on an academic paper about NAIRU (Truffle's question about that led to the longest bout ever of waffling by Swan, because Swan knew the implications of the question (which I bet Truffles didn't!)

There are still challenges of course: the structural budget deficit to be repaired, debt repaid, the stimulus managed so it doesn't boost inflation etc. To that I would add the US economy which is far from out of the woods!

But it was nice to read that long article and its generally congratulatory tone.

When Swan retires I bet he will get plenty of offers from business for a well-paid position!

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