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

Moody’s slashes Ireland’s credit rating to Baa1 with negative outlook

Edward Harrison Dec 17, 2010

Today Moody's cut the credit rating for the Republic of Ireland a full five notches down to Baa1 from Aa2. In addition, the ratings agency placed a negative outlook on its rating for Ireland , a sign that further downgrades could follow.…

Business

Fedex disappoints; should we care?

Edward Harrison Dec 16, 2010

Fedex is often seen as a general proxy for US economic activity in the way that rail or freight traffic or cargo shipments are. They ship to such a wide variety of companies and individuals that they have taken on a bellwether status. …

Political Economy

(QOTD) Ben Bernanke: It is not the responsibility of the Federal Reserve to protect lenders

Edward Harrison Dec 16, 2010

“It is not the responsibility of the Federal Reserve - nor would it be appropriate — to protect lenders and investors from the consequences of their financial decisions." -Ben Bernanke, 31 Oct 2007 via David Rosenberg's…

Markets

Pimco: Emerging Markets Will Outperform

Edward Harrison Dec 16, 2010

Here are the key takeaways from Pimco's recent piece on Emerging Market debt: Key Points: Global economic conditions and structural factors remain supportive for the emerging markets to “run fast,” and for the U.S., Canadian and…

Economy

Rosenberg: the Europeans can fight nature for only so long

Edward Harrison Dec 16, 2010

I liked David Rosenberg's Breakfast With Dave piece this morning. He got into QE2, bonds, Europe and Germany in particular. Let me hit on a few highlights here. First, Rosenberg says the recent uptick in bond yields might put…

News

More on the von Mises Prophecy and Other Links

Edward Harrison Dec 16, 2010

In this post are links to the latest important financial news stories on the web. I am going to try and go about the links a bit differently in the future. Rather than just list the links here, I intend to expand on some of the stories…

Political Economy

Germany’s Lose-Lose Political Posturing

Edward Harrison Dec 16, 2010

The problem is that the current approach – centred on dealing with liquidity problems now and solvency issues later – is not working. A liquidity approach that delays the day of reckoning may be good regional politics, but it's…

Economy

Jobless claims decline slightly to 420,000

Edward Harrison Dec 16, 2010

The US Department of Labor noted this morning that: In the week ending Dec. 11, the advance figure for seasonally adjusted initial claims was 420,000, a decrease of 3,000 from the previous week's revised figure of 423,000. The 4-week…

Political Economy

Russia has shown no interest in rapprochement with Europe

Edward Harrison Dec 16, 2010

Russia is keen on developing stronger ties with both China and the EU in order to secure its global economic position. The recent agreement with China to begin Ruble-Renminbi trading in Russia is part of this effort. Last week, Marc…

Monetary System

Wait for the next crisis for reform of the monetary system

Edward Harrison Dec 15, 2010

There has been a lot of chatter of late about countries ditching the US dollar as the primary reserve currency and moving on to something else. Robert Zoellick mentioned gold as the alternative. Nicolas Sarkozy has been talking up special…

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