Author

Edward Harrison 7783 posts 575 comments

Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

Political Economy

What Jack Welch should have said

Edward Harrison Oct 10, 2012

Jack Welch recently caused a ruckus by suggesting that the government was “cooking the books” with its economic data. Specifically, he tweeted the following last Friday after the employment situation report: "Unbelievable jobs…

Monetary System

My Comments on Spiegel’s Post on How Monetary Policy Threatens Savings

Edward Harrison Oct 10, 2012

Spiegel, a widely-read German magazine, has published a trilogy of articles on inflation in German that it has also translated into English. The theme is “How Monetary Policy Threatens Savings” and I see this as a must-read for those…

Daily

Daily: More cuts to global growth expectations

Edward Harrison Oct 9, 2012

The IMF is out with its predictions for global growth in 2012 and 2013 and across the board the numbers are being reduced. In particular, the IMF sees growth slowing globally to 3.6% next year, which is a reduction from its July estimate of…

Economy

Peripheral bailout extensions will be unwelcome during a German election year

Edward Harrison Oct 9, 2012

The Financial Times is reporting that Portugal is likely to need an extension of the three-year bailout plan it received in 2010. This is a disaster for the euro zone and I am writing this post to explain why. The most pressing issue is…

Members

Software Patents as Big Government

Edward Harrison Oct 9, 2012

It occurs to me that the whole furore over patents in the software industry really revolves around the role of government in setting the regulatory ground rules for business and government’s influence in the private sector. A recent post in…

Members

We should expect at least a Fiscal Clifflet for the US

Edward Harrison Oct 9, 2012

Two months ago, we got four scenarios for the fiscal cliff via Credit Suisse and Sober Look. All of these scenarios called for at least a 0.9% drag on the economy, meaning that we should fully expect at least a 0.9% drop in annualized GDP…

Daily

Daily: Why Bill Gross and others are now buying Spanish and Italian sovereign debt

Edward Harrison Oct 8, 2012

Bill Gross has admitted that he has started buying Spanish and Italian debt. That's quite a turnaround given he had been saying earlier that he wouldn't touch their sovereign debt with a ten-foot barge pole. So the question is why. And the…

Members

The falling US labor force participation rate is not just a demographic issue

Edward Harrison Oct 8, 2012

This is a quick piece here on the labor participation rate, following up on the piece I wrote last week about the jobs numbers not being consistent with recession. Mike Shedlock at Mish's Global Economic Trend Analysis and Bill McBride at…

Economy

The fall in the unemployment rate has accelerated and is consistent with continued recovery

Edward Harrison Oct 5, 2012

Here's a brief, late Friday post to follow up on the jobs number. If you look at recoveries from past recessions in the United States, what you usually see is a fall in the year-over-year unemployment rate as the economy gathers steam. And…

Economy

Chart of the Day: Employed and Unemployed Persons, Household Survey

Edward Harrison Oct 5, 2012

There has been a lot of controversy about today's employment situation summary because of comments by Jack Welch, the former GE CEO. Welch suggested on Twitter that the Obama Administration had manipulated the household survey data to give…

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