July 2011
1 post
December 2010
3 posts
Covered Bonds
There’s been some discussion on the Mule Stable about covered bonds and who may or may not be disadvantaged by them, so I thought I’d post a (very) simplified example of how they would work compared to the alternatives of standard financing or securitisation. The first (sometimes confusing) thing to remember is that loans are a banks assets and deposits are their liabilities, as are...
Covered Bonds
There’s been some discussion on the Mule Stable about covered bonds and who may or may not be disadvantaged by them, so I thought I’d post a (very) simplified example of how they would work compared to the alternatives of standard financing or securitisation. The first (sometimes confusing) thing to remember is that loans are a banks assets and deposits are their liabilities, as are...
Covered Bonds
There’s been some discussion on the Mule Stable about covered bonds and who may or may not be disadvantaged by them, so I thought I’d post a (very) simplified example of how they would work compared to the alternatives of standard financing or securitisation. The first (sometimes confusing) thing to remember is that loans are a banks assets and deposits are their liabilities, as...
November 2010
3 posts
One of the most ludicrous arguments I've heard in...
I don’t know why I do this to myself, but I read Christopher Pearson’s article in the Australian about gay marriage. The crux of his argument against gay marriage is its impact on national fertility. He claims that Among the reasons the Greens are so keen on same-sex marriage is that they want to reduce the population and drive down national fertility. Their refusal to discriminate...
How bad can things get when you give up currency...
From the Irish Times: If you thought the bank bailout was bad, wait until the mortgage defaults hit home. Posted via email from Stubborn Mule - Extras | Comment »
Mortgage rates vs RBA cash rate
Last night @randomphrase asked on Twitter about a long term chart of the spread of bank mortgage rates against the RBA cash rate. Fortunately, the RBA publishes quite a bit of interest rate data, including mortgage rates and their own cash rate. So here is a chart: Of course, every bank offers slightly different rates, not to mention a slew of discounted and fixed rate options. So, to be clear...
August 2010
1 post
July 2010
1 post
Pizza from a chemist??
Who in their right mind would buy a pizza from a chemist? “Best pizza”? I doubt it. Posted via email from sean carmody’s posterous | Comment »
May 2010
1 post
Spam works in mysterious ways...
Is this spam?? If so, it’s one of the weirdest bits of spam I’ve had yet. It purports to be from “Brain Morison” (a yahoo address) and reads: Good Morning, Am Rev Morison and i will like to order some of your candle for our church and i will like to know the types you have now in stock and also tell me the trypes of major credit card you do accept as your...
April 2010
3 posts
Solved the Microsoft problems...with a bit of help...
After I posted about my challenges navigating Microsoft licences I received further contact from Microsoft via twitter (@Windows7AU) with the name of a person to contact directly at Microsoft (Michael). Michael seemed much more motivated to help me than anyone I’d spoken to up to that point. Not only that, he even called me back as promised (more than I’d experienced up to that...
Microsoft Licensing Woes
Navigating Microsoft licensing can be painful. The other day I bought a new netbook with Windows 7 Starter pre-installed. I used it briefly, noted that an Anytime Upgrade to Home Premium was available for A$119 but thought I didn’t need that because I already had a DVD with a full copy of Home Premium (not an OEM version). Mistakenly I thought that, like Office and a lot of other software,...
Kids understand a lot, but they don't understand...
Our two older boys are very keen on Club Penguin, but so far mean parents are forcing them to make do with free accounts. They know full well that there are things that they can only do if they pay for membership. Mr 6 was explaining for Mr 4 how much it cost to become a member and he decided that he would pay himself using coins from his moneybox. So he then posted a number of coins into the...
March 2010
3 posts
The warm glow of contributing to open source.
I’ve been benefitting from using open software of all sorts for years. While I have been active on discussion forums for some projects, I have never actually contributed any code…until now! It’s hardly the most sophisticated bit of coding, but it’s a contribution, which gives me a wam fuzzy glow. I’ve been playing around with the StatusNet microblogging software for...
Microformats for Microblogs
The tight 140 character contraint imposed by Twitter imposes an economy of style that has proved a strong stimulus to abbreviation conventions. The most successful, of course, has been the @ reply, so much so that many people assume that Twitter invented it themselves, when it was in fact invented by users and then officially adopted. The hashtag (#) ranks next in importance, but after than the...
How to send and receive Mule Stable (or identi.ca)...
I recently discovered these instructions for accessing identi.ca using the Tweetie 2 iPhone app. Since the Mule Stable is built on the same software as indenti.ca, the technique works just as well as a way of checking and posting messages on the Mule Stable. Here’s how (the steps match the sceenshots): 1. Go you your Accounts page on Tweetie 2 (press whatever button you see on the top left...
February 2010
3 posts
Out of the mouths of children...
After a particularly ferocious lion-like roar, Mr four-and-a-half said “Ow, that hurt my breath!”. I said, “You mean it hurt your throat”. He replied, “No. It hurt my……words”. Posted via email from sean carmody’s posterous | Comment »
As many concerts I can remember...still racking my...
I first began compiling a list of concerts I have been to as a journal on Last.fm almost three years ago. My recollection for the early years is patchy and I am sure I have missed quite a few, but a bit of googling has helped with a few dates. If anyone can remember going to something with me that is not on the list, let me know! Pre-1986 1980 Studio audience of Countdown - Gore Hill Studios,...
"National Debt for Beginners"
I just started reading National Debt for Beginners by Simon Johnson (of Baseline Scenario) and James Kwak. I haven’t got very far, but I suspect it is going to irritate me as is has not started well. Early on they introduce the simplistic monetarist argument: Another way to close a budget gap is for the Federal Reserve to “print” another $100 billion or so, but that can lead...
January 2010
11 posts
A few more Jervis Bay photos
Finally got the photos off my camera (as opposed to just the iPhone snaps). The beaches here are Summercloud Bay and Murray’s Beach, both in the Booderee National Park. Posted via email from sean carmody’s posterous | Comment »
It's hard to get good staff.
CAUTION Martyn [sic] Smith, proprietor of the Royal Victoria Coffee House, Pitt-street, Sydney hereby cautions shopkeepers and others, not to give credit to any person whatever without his written order, as Mr. S. will not hold himself responsible hereafter in consequence of his late Waiter having recently absconded, and obtained goods from various shopkeepers without M. S.’s sanction in...
It's hard to get good staff.
CAUTION Martyn [sic] Smith, proprietor of the Royal Victoria Coffee House, Pitt-street, Sydney hereby cautions shopkeepers and others, not to give credit to any person whatever without his written order, as Mr. S. will not hold himself responsible hereafter in consequence of his late Waiter having recently absconded, and obtained goods from various shopkeepers without M. S.’s sanction in...
It's hard to get good staff.
CAUTION Martyn [sic] Smith, proprietor of the Royal Victoria Coffee House, Pitt-street, Sydney hereby cautions shopkeepers and others, not to give credit to any person whatever without his written order, as Mr. S. will not hold himself responsible hereafter in consequence of his late Waiter having recently absconded, and obtained goods from various shopkeepers without M. S.’s sanction in...
Keynes via Hayek explained in a rap video /via...
This clip from Econ Stories has been doing the rounds and is worth a watch: they even manage to get a thumbnail sketch of the two men’s views across. Posted via email from Stubborn Mule - Extras | Comment »
The joys of virtual machines
I had been meaning to upgrade/replace the main computer in our study for some time, basically ever since it started sounding like a 747 taking of 24/7 and had gradually accumulated enough junk to run slower than a dogma film. It was about 7 years old, so this was more than excuse enough to switch from the Packard Bell PC to a nice big new shiny iMac. Once it arrived, I copied across all the key...
Jervis Bay Photos
Here are a few photos from last week’s trip to Jervis Bay on the South coast of New South Wales (Australia). These are all taken on the iPhone, so the quality is so-so. I have yet to upload the photos from my camera.
See and download the full gallery on posterous
Posted via email from sean carmody’s posterous | Comment »
Can't see the world for the theory
In this interview with Eugene Fama, one of the Chicago School pioneer of the efficient markets theory, you can see an excellent example of how people can become so wedded to a theory that it distorts their view of the world. Everything is seen through the prism of the theory and the viewer is apparently oblivious to the distortions that result. Fama insists that a collapse on house prices did bot...
December 2009
6 posts
Empty mac at #wscm
Forgot to take the pic when it was full. Posted via web from 30 Days of Coffee | Comment »
Coffee with my little friend
Posted via web from 30 Days of Coffee | Comment »
Sharing their wisdom: the boys teaching the baby...
Posted via web from sean carmody’s posterous | Comment »
Baby's first yum cha
Posted via web from sean carmody’s posterous | Comment »
I've been doing some backyard topiary, with a...
See and download the full gallery on posterous Posted via web from sean carmody’s posterous | Comment »
Beautiful morning for a walk in Newcastle
See and download the full gallery on posterousHeading back to Sydney this afternoon. Posted via web from sean carmody’s posterous | Comment »
November 2009
27 posts
Milson's Point
See and download the full gallery on posterous Posted via web from Sydney Stations | Comment »
Redfern Station: in transit
On route from Petersham to Milson’s Point. Posted via web from Sydney Stations | Comment »
Takeaway from the cafe around the corner
Posted via web from 30 Days of Coffee | Comment »
Review of the markets for the week ending 27...
Australian bond yields ended the week sharply lower on safe-haven buying. Equity markets took a beating as financials begin to wobble. Commodities provided a welcome reprieve.Economic data Domestic economic data was mixed with September quarter construction work rising a solid 2.2%. Private capital expenditure for the quarter fell by 3.9%, worse than market expectations. The RBA deputy governor...
Sideways mac and tiny teddy
Sideways deli cafe, Dulwich Hill Posted via web from 30 Days of Coffee | Comment »
Green eggs for me, Sam I am.
Posted via web from sean carmody’s posterous | Comment »
Now that's what I call a steak. Well done to...
Dinner in Kirribilli on Thursday night. Posted via web from sean carmody’s posterous | Comment »
Fauna in the pool, including an unidentified bug.
Let me know if you know what the bug is. Posted via web from sean carmody’s posterous | Comment »
Fauna in the pool. No idea what the bug is.
Let me know if you can identify the bug. Posted via web from 30 Days of Coffee | Comment »
Coffee at Kelby's
Posted via web from 30 Days of Coffee | Comment »
2 tags
Petersham Station
Inspired by @fridley’s 30daysofcoffee site, here is a new one to document the train stations of Sydney. I’m starting with my local. Please feel free to contribute: drop me a direct message on twitter with your email address and I’ll add you to the list of contributors. See and download the full gallery on posterous Posted via email from Sydney...
Now that's what I call "old school".
Posted via web from sean carmody’s posterous | Comment »
1 tag
A very pleasant coffee and conversation with...
Photo tweaking courtesy of Camera Bag iPhone app. Posted via email from 30 Days of Coffee | Comment »
1 tag
The standard morning order.
Sent from my iPhone Posted via email from 30 Days of Coffee | Comment »