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

Hudson: Traditionally war spending has driven deficits

Edward Harrison Aug 3, 2011

Michael Hudson and William Hartung make the argument that military spending was exempted from cuts in the debt ceiling deal because it had strong backers who protected it. They also reveal that the US debt ceiling was put into place to keep…

Markets

The widening European sovereign debt crisis

Edward Harrison Aug 3, 2011

Euroland is coming apart at the seams. Belgian/Bund spreads are now also over 200bps along with Italy and Spain. Belgium has just entered the periphery and France is not far behind.

Economy

Bill Gross: It’s all about jobs and growth in the US

Edward Harrison Aug 3, 2011

Bill Gross was on CNBC yesterday talking about the debt ceiling deal. His first thoughts were about jobs. "There are no jobs in terms of growth. There are no wages in terms of increase… This is a classic de-levering cycle.”

News

Links 08/03/2011

Edward Harrison Aug 3, 2011

The eternal pivot - Ben Smith - POLITICO.com tags: jobs When Did the American Empire Start to Decline? | Stephen M.…

Economy

Debt Ceiling Deal: All cuts, no taxes

Edward Harrison Aug 2, 2011

Unfortunately for President Obama, the economy is not doing well. And the cuts envisaged in this deal make that problem worse. From an electoral standpoint this is already becoming a problem in key swing states like Pennsylvania.

Markets

Italy calls emergency meeting to deal with European debt crisis

Edward Harrison Aug 2, 2011

The Telegraph is reporting that the euro zone sovereign debt crisis has reached such a critical flash point that Italy has called an emergency meeting. In Spain, the Prime Minister has delayed his summer holidays to deal with the fallout.

Economy

Rep. Gabrielle Giffords Votes for Debt Deal

Edward Harrison Aug 2, 2011

The bill passed the House overwhelmingly. The Senate votes today. I will be speaking about the deal on BBC World News at 100PM ET.

Markets

Chart of the day: German 10-year yields

Edward Harrison Aug 2, 2011

Here’s a Bloomberg chart of the yield on 10-year German bonds since reunification. The overall trend is down, most precipitously since 2009.

Markets

Spain, Italy, Belgium yields now under attack

Edward Harrison Aug 2, 2011

The Europeans can’t catch a break. The crisis has already flared before they have had a legitimate opportunity to deal with the medium- and longer-term issues. Willem Buiter says the Europeans need a 2.5 trillion euro EFSF to deal with…

Economy

Heavy revision to personal income data in US shows debt stress

Edward Harrison Aug 2, 2011

What does it mean that disposable income was revised down all three years, yet the savings rate was revised down in 2009 and 2010? I think it means that people were under debt stress trying to maintain lifestyles once the technical recovery…

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