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.

Economy

We are back in a technical recovery

Edward Harrison Jul 29, 2011

The latest batch of GDP numbers saw some heavy downward revisions to prior numbers, especially during the recession of 2008-2009. In fact, the GDP revisions were so extensive, they put us back in the 'technical recovery' phase i.e. where we…

Monetary System

What is pro-cyclicality?

Edward Harrison Jul 29, 2011

Procyclicality is fine for states as a constraint despite how they exacerbate the swings in the business cycle, creating deadweight losses. The federal government can always counter this pro-cyclicality and smooth out the cycle. This is one…

Markets

Chart of the Day: China’s Yield Curve flattening

Edward Harrison Jul 29, 2011

The Chinese 2-5 year swap spread has flattening to 1 basis point. The last time it was so flat was 2008.

Economy

Disastrous GDP numbers make double dip scare real

Edward Harrison Jul 29, 2011

While the headline number was well below expectations of 1.8%, what must be noted are the major revisions. Q1 2011 is now reported as +0.4%. That’s a major downward revision which demonstrates that QE2 was in fact doing nothing for growth…

News

Links 07/29/2011

Edward Harrison Jul 29, 2011

Japan escalates warning on yen rise to protect recovery | Reuters tags: Japan currency FT Alphaville »…

Markets

If we see no debt ceiling deal, the US will prioritise Treasuries

Edward Harrison Jul 28, 2011

The Chinese will be pleased. Holders of other government liabilities, not so much. If it comes to this, expect it to be negative for economic growth.

Political Economy

Government tax coercion versus fiat money liberty

Edward Harrison Jul 28, 2011

This is a polemic on fiat currency. it is long and detailed. But I believe it is both thorough and logical.

Markets

Brynjolfsson on Treasuries Rising due to Debt Stalemate

Edward Harrison Jul 28, 2011

A stalemate could mean selective default. However, my sense is that the bonds themselves will be paid first. Other government expenditures will not get paid and that means a hardship for those who expect the money, whether companies doing…

Economy

Achuthan Expects Another ‘Double Dip Scare’ for US

Edward Harrison Jul 28, 2011

Achuthan proved to be an accurate forecaster of the economy throughout the double dip scare last year. Timing-wise, this dip is similar. I would say, though, Achuthan seems less optimistic this year than last. Take a look.

Markets

Shiller: Austerity Negative for Housing

Edward Harrison Jul 28, 2011

Economist Robert Shiller spoke with Carol Massar and Matt Miller on Bloomberg Television's "Street Smart" on Tuesday. Shiller sees the likely austerity that the US will see as a result of the debt ceiling debate as negative for housing…

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