NEWSFLASH! In September I will join The Conversation as its Business and Economy Editor. I have been honoured to work at The Age for the past ten years, originally alongside the legendry Tim Colebatch, and for the past four years as economics editor in my own right.

At The Conversation, my job will be to make the best thinking from Australia's 40 univerisites accessible to the widest possible audience. That means you. From the new year I will also write a weekly column.

On this site are most of the important things I have written for Fairfax and the ABC over the past few decades. I recommend the Search function. The site is a record for you, as well as me.

I'll continue to post great things from The Conversation and other places here, and also on Twitter and Facebook. Enjoy.

Tuesday, October 27, 2009

Crap doesn't begin to describe....

...stuff said by 'experts' who don't understand the fallacy of composition.

"Ditching the big four banks in favour of smaller lenders could save consumers $6.1 billion a year in bank costs, research firm Infochoice says.

Infochoice's quarterly report tracks the average interest and fees charged by the major four banks - Commonwealth, National Australia Bank, Westpac and ANZ.

The report showed that if all major bank customers switched to the lowest-priced products available, they would make an annual saving of $5.4 billion on home loans, $257 million on credit cards and $482 million on other financial lending, including car loans."

Oh my.