"Well yeldub you're obviously the expert and I think if Greenwood has made an error that you should point it out to him. He always seems direct and honest to me, perhaps it's an honest mistake. If so he mightn't realise it unless an expert of your stature points it out to him."
Boofy,
If it was his only "mistake" in the quote that smithy9 posted then I may give the author the benefit of the doubt. But the article is riddled with errors besides the stupid comparison on debt.
Take for instance the fact that the author confuses the words temporary deficit when talking about government bonds on issue. They are completely different things. The temporary deficit is the amount you are short in the budget. The govt bonds are not temporary at all. The plan is to keep govt bonds on issue at about 13% of GDP FOREVER.
And he also uses the coupon rate of a bond to work out how much it is "costing" us as taxpayers when he should be using the yield. Coupon rate is useless. And instead of using his homeloan calculator (rofl) to come up with a net interest bill of 15.4 billion, he could have just got the figure from the budget which shows 5.5 Billion.
lol that a 10 BILLION dollar mistake.
You want me to ring the author of this rubbish? ROFL. You ring him, i've got better things to do.
