My front-page feature on nuclear subs in the Weekend AFR is here. Bound to cause a stir. A second story on China's reaction is here. Finally, my feature on "what are bank deposits", which is an interesting historical analysis, can be read for free here. On submarines, I start:
Senior Coalition frontbenchers told The Weekend Financial Review that acquiring or leasing Virginia-class nuclear submarines equipped with conventional weapons, such as cruise missiles, would be supported by the Obama Administration.
My story on the history and definition of deposits begins as follows:
What are deposits? How safe are they? And when was the last time an Australian bank defaulted on a liability to depositors or other creditors? I would hazard a guess that 99.9 per cent of readers cannot answer these questions. They are all the more germane given the Reserve Bank governor’s statement this week that borrowing rates are below average and “savers are facing increased incentives to look for assets with higher return”.
