Pete Wargent blogspot
Co-founder & CEO of AllenWargent property advisory, offices in Brisbane (Riverside) & Sydney (Martin Place) - clients include hedge funds, resi funds, & private investors.
4 x finance/investment author - 'Get a Financial Grip: a simple plan for financial freedom’ (2012) rated Top 10 finance books by Money Magazine & Dymocks.
"Unfortunately so much commentary is self-serving or sensationalist. Pete Wargent shines through with his clear, sober & dispassionate analysis of the housing market, which is so valuable. Pete drills into the facts & unlocks the details that others gloss over in their rush to get a headline. On housing Pete is a must read, must follow - he is one of the better property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.
"Pete Wargent is one of Australia's brightest financial minds - a must-follow for articulate, accurate & in-depth analysis." - David Scutt, Business Insider, leading Australian market analyst.
"I've been investing for over 40 years & read nearly every investment book ever written yet I still learned new concepts in his books. Pete Wargent is one of Australia's finest young financial commentators." - Michael Yardney, Australia's leading property expert, Amazon #1 best-selling author.
"The most knowledgeable person on Aussie real estate markets - Pete's work is great, loads of good data and charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, and author of the New York Times bestsellers 'End Game' and 'Code Red'.
"Pete's daily analysis is unputdownable" - Dr. Chris Caton, Chief Economist, BT Financial.
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Tuesday, 9 October 2012
Jargon-busting: v. to jawbone
Let’s 'bust a bit of that nasty jargon' today, shall we?
v. to jawbone
“Jawboning is the unofficial technique of public and private discussions and arm-twisting, which may work by the implicit threat of future government regulation”.
In plain English, it’s what governing bodies do when they want to effect change without having to apply their formal powers.
Most often in Australia, we hear reference to the term in respect of the Reserve Bank trying to influence consumer spending without the need to use its one blunt tool, the adjustment of the cash interest rate.
Here’s a simple example of how you might hear it used:
“The Reserve Bank is worried about high inflation and therefore is likely to indulge in some jawboning by threatening to lift interest rates.”
As is often the case with the ‘verbing’ of nouns, the term is an obvious Americanism. There are plenty of similar examples such as shoehorned.
Traditionalists turn in their graves prematurely about the needless verbing of nouns. As a wordsmith myself, I don’t particularly mind it. Language is always changing, so why not? Shakespeare used dozens of words that didn’t exist before he wrote them, and even religious texts of the 16th century spoke of the 'churching of women' so it's hardly a new phenomenon.
I’ll add a caveat to that, though, in respect of business buzzwords and clichés. Multitasking seems to have made it into everyday English now, but there are far, far worse examples which I daren’t begin to list here, for fear of this post never ending.
The latest drivel I’ve heard has included: “We need to deep-dive-review the actionable items”. People who speak in this manner are unfit to be released into society, in my opinion.
First use of the mighty jawbone…
As is commonly the case with such words, it’s not entirely clear when the term jawbone was first used. The economist Galbraith suggested that it was first used in 1941 to describe the arm-twisting activities of the U.S. Office of Price Administration and Civilian Supply.
Later it was used to describe the desperate attempts of Presidents Johnson and Kennedy to control mounting inflationary pressures, and that is exactly how we hear the term used today.
I’m now totally paranoid about my use of language! Wait until Thursday when I’m almost certain to write that unemployment is ‘trending upwards’, so apologies in advance for all of that before you ‘inbox’ me.
I’ll probably need to 'transition' to 'deep-dive reviewing' all future blog posts…
‘Strewth, it’s contagious.