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.

Monetary System

South Korea proposed 14% withholding tax puts spotlight on ‘currency war’

Edward Harrison Nov 10, 2010

Bloomberg notes: South Korea may revive a 14 percent tax on domestic Treasury and central bank bonds held by foreigners as early as January to curb foreign-exchange volatility, a ruling party lawmaker said. “If we don’t do it right now…

Political Economy

Stephen Roach: QE represents ‘what got us into the mess’

Edward Harrison Nov 9, 2010

I am on-board with Roach's sentiments. This is certainly what I take away from the U.S. policy mix. Now, a lot of economists of the Keynesian variety are telling us that the problems in the US are cyclical i.e. an aggregate demand (AD)…

News

Links: 2010-11-09

Edward Harrison Nov 9, 2010

The Usual Fare Get Ready for China's Big Development Switch_English_Caixin Taiwan’s two lines of currency defence | beyondbrics| FT.com Demand for Loans Remains Weak, Mixed News about Underwriting Standards - Asha Bangalore…

Political Economy

China’s Dagong Credit Agency Downgrades U.S. to A+

Edward Harrison Nov 9, 2010

The reason: QE. The downgrade for the U.S. is to A+ from AA, with a negative outlook because of quantitative easing, according to Xinhua. According to the ratings agency, quantitative easing will further depreciate the U.S. dollar and…

Political Economy

The Latest on Ireland and the ECB

Edward Harrison Nov 9, 2010

Below are two good videos outlining the Irish situation. For relevant background info see CW posts below (the last one is most hopeful): Ireland: Next stop – IMF, October 2009 How Does Irish Banking Play Out? Chart of the day:…

Economy

Is the foreclosure crisis overblown?

Edward Harrison Nov 8, 2010

Here are Andrew Ross Sorkin and Joe Nocera of the New York Times having a video debate about the foreclosure crisis. Nocera thinks this is a key economic issue. Sorkin thinks the issue is overblown. My take: For political reasons,…

Economy

Ambac Files for Bankruptcy

Edward Harrison Nov 8, 2010

This is something that we were talking about last November: Bond insurer Ambac Financial has warned bankruptcy is a distinct possibility, sending its shares plummeting more than 30% today. What is intriguing about this pending…

Economy

On The Jobs Numbers

Edward Harrison Nov 8, 2010

I was on RT TV America last Friday talking about the jobs report. The video from that discussion is below (it runs about 5 minutes). Here's the deal: The US is in the midst of a technical recovery that has been on-going for about…

Economy

Bove: Bank stocks will soar during QE’s “financial war with China”

Edward Harrison Nov 8, 2010

In the fall of 2008, when the government took extreme steps to avoid a financial collapse, it created, what might be described as a partial liquidity trap. At the time, this was not a problem. The policymakers were not trying to assist…

News

Links: 2010-11-08

Edward Harrison Nov 8, 2010

Obama returns fire after China slams Fed's move | Reuters China inflation unlikely to ease soon: economist | Reuters FT.com - Eurozone woes and QE2 backlash damp enthusiasm What effect did health-care reform have on election?…

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