poor old watso, who is not as bright as he used to be (indeed, if ever he was)
anyway, watso awoke this morning, and after dealing with the problem of morning wood, sort of wondered a bit about interest rates, and how the rba set them - and enforced them - and watso sort of scrathed his head a bit, and realized that he was out of touch - COMPLETELY.
years ago, watso seems to recall that the government had borrowings etc etc, on which they paid interest, so watso presumes that when the rba set rates, that they could enforce this through the securities that they offered - which probably flowed through the market. with globalization etc etc, watso sort of thinks that companies can borrow money from overseas - eg companies like rams, and even the banks - and they get their money cheaper, than what it can be obtained locally blah blah blah
can some kind person give watso a link, where it is all explained so that even a brain which is affected by port, can understand it
