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

Felix Zulauf: expect more market turmoil than in 2008

Edward Harrison Oct 4, 2011

In an interview from late September, Zulauf tells James Turk that he is very much a eurosceptic. The external imbalances in the euro zone make the euro an untenable currency union. Like David Blanchflower, Zulauf remarks how markets are…

Economy

Herbert Hoover: 1932 Special Message to Congress Proposing Balanced Budget

Edward Harrison Oct 4, 2011

Despite the economic problems, it is clear that President Hoover felt that the government’s budget still needed to be balanced. He implored Congress to work with him in order to cut spending to meet this objective.

News

News Links 10/04/2011

Edward Harrison Oct 4, 2011

News links on the ECB, CHina , protectionism, the #OccupyWallStreet movement, the European bank run and much more

Economy

On State and Local Governments

Edward Harrison Oct 4, 2011

The bottom line is this: Forget about Meredith Whitney. State and municipal governments are carrying a load in operating and pension costs that cannot be sustained through downturns in a secular bear market as the US population ages. These…

Markets

More on the S&P bear market and the central bank liquidity train

Edward Harrison Oct 4, 2011

Just a few moments ago I posted on the fact that the US is officially in bear market territory. On Twitter, I said that “in Fall 2008, 10-year yields went to extreme lows and then the liquidity train went into overdrive. Stocks rallied,…

Markets

The US is officially in bear market territory

Edward Harrison Oct 4, 2011

In early trading today, the S&P 500 has dipped deep into the red, with stocks trading off 2%. The S&P 500 at 1076 is down over 20% since its yearly high as predicted. Next stop for support is 900-950.

Markets

Lenders now suing for mortgage debt after foreclosure

Edward Harrison Oct 4, 2011

The statute of limitations is five years for default. That means banks still have until the beginning of 2012 to sue a strategic defaulter from early 2007.

Economy

1930

Edward Harrison Oct 3, 2011

An excerpt from "The World In Depression" by Charles P. Kindleberger

Economy

US manufacturing sector expands at slightly faster pace in September

Edward Harrison Oct 3, 2011

All of the major sub-indices from new orders to production to employment recorded an acceleration in growth. This is a good report in the face of weakening macro fundamentals globally. However, the US manufacturing sector is very close to…

Political Economy

China will retaliate if US imposes sanctions

Edward Harrison Oct 3, 2011

Professor Professor Xiang Songzuo from the Centre for International Monetary Research at Renmin University in Beijing told the BBC yesterday there would definitely be retaliation if the US moves to sanctions against China. If this scenario…

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