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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 -
Is it inappropriate to call MMT, the Missouri School of thought?
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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
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@zebra I haven't seen any.
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@zebra Thanks!
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@zebra Whilst I am unclear on the source, apparently that is the gross debt figure
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#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
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The coalition ads say the Govt borrows $100m/day. Where does this figure come from? What was public debt at start of Labor Govt?
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@magpie The Joe Stiglitz interview is viewable on 730 report website.
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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?
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@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.
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@danny 10bp is more like the difference in compounding (1+0.05/12)^12 -1.05 = 0.00116
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@mark at least with NAB, it appears to be 10bp for monthly interest payments instead of annual ones.
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@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
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@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.
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@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.
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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".
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