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1. evo

   So I'm in Singapore discussing some of the fallout of the GFC after 30 mins the other guy says meekly "What is the GFC?" I could not believe it!Turns out this is not an acronym used around these asian parts! Is this acronym only used in Oz, or did Asia really avoid the crisis?!

   about 5 hours ago from web
2. senexx

   Is it inappropriate to call MMT, the Missouri School of thought?

   about 16 hours ago from web at Sydney, N.S.W, Australia
3. magpie

   A stinging criticism of economics from an outsider's point of view: The Great Mortification. http://www.iasc-culture.org/publications_article_2010_Summer_mirowski.php

   about a day ago from web at Sydney, N.S.W, Australia
4. magpie

   @sean @senexx That's a fair point!

   about a day ago from web at Sydney, N.S.W, Australia in context
5. sean

   @magpie @senexx he may not be qualified as an economist, but he probably is qualified as an observer of Abbott

   about a day ago from web at Leichhardt, N.S.W, Australia in context
6. sean

   @zebra I haven't seen any.

   about 2 days ago from web at Leichhardt, N.S.W, Australia in context
7. magpie

   @zebra Thanks!

   about 2 days ago from web at Sydney, N.S.W, Australia in context
8. magpie

   @sean @senexx After what? 12 years in the Treasury?, Costello may have caught something. Like, by osmosis. Mostly neoclassical, though. That doesn't qualify him as economist, I'd say. It probably qualifies him for a Nobel, though.

   about 2 days ago from web at Sydney, N.S.W, Australia in context
9. senexx

   @zebra Whilst I am unclear on the source, apparently that is the gross debt figure

   about 2 days ago from web at Sydney, N.S.W, Australia in context
10. senexx

    #fb !mmt RT: @stf18: Randy Wray's letter to Austrians/Libertarians is truly brilliant & shows why he's both a great economist & great writer http://bit.ly/b4UgH1

    about 2 days ago from web at Sydney, N.S.W, Australia
11. zebra

    The coalition ads say the Govt borrows $100m/day. Where does this figure come from? What was public debt at start of Labor Govt?

    about 2 days ago from web at Port Melbourne, Victoria, Australia in context
12. zebra

    @magpie The Joe Stiglitz interview is viewable on 730 report website.

    about 2 days ago from web at Port Melbourne, Victoria, Australia in context
13. zebra

    Does anyone here know of, or have links to models for CVA calculations ie counterparty risk adjustment. Looking for something quite technical eg Credit BGM. Any thoughts?

    about 2 days ago from web at Port Melbourne, Victoria, Australia in context
14. danny

    @mark that makes sense - I remember doing that calculation for my grandmother once when she was trying to work out what the best rate was. So there's no disadvantage to monthly interest payments.

    about 2 days ago from web at Oxford, England, United Kingdom in context
15. mark

    @danny 10bp is more like the difference in compounding (1+0.05/12)^12 -1.05 = 0.00116

    about 2 days ago from web in context
16. danny

    @mark at least with NAB, it appears to be 10bp for monthly interest payments instead of annual ones.

    about 2 days ago from web at Oxford, England, United Kingdom in context
17. mark

    @danny if the yield curve is steep, the TD interest rate for interest paid monthly into another account will be appropriately lower than interest paid at maturity

    about 2 days ago from web in context
18. danny

    @mark losing accrued interest isn't much of a penalty if its being paid monthly (a 0.1% lower rate). But I guess since you can get 6% on call anyway there's not much point.

    about 2 days ago from web at Oxford, England, United Kingdom in context
19. mark

    @danny AFAIK that's always been the case for retail TDs -- foregoing accrued interest deters most customers from calling, and the banks don't want bad publicity from the odd person in a financial emergency who can't get their money back.

    about 2 days ago from web in context
20. danny

    When did term deposits become "on call"? http://www.nab.com.au/wps/wcm/connect/nab/nab/home/personal_finance/15/17/2#parta_3 just choose monthly interest payments in conjunction with "you may withdraw amounts from the deposit at any time".

    about 2 days ago from web at Oxford, England, United Kingdom in context