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

Misunderstanding Modern Monetary Theory

Edward Harrison Jul 17, 2010

Paul Krugman wrote a post today regarding MMT called "I Would Do Anything For Stimulus, But I Won’t Do That (Wonkish)." The gist of Krugman's post was to refute Modern Monetary Theory's view on money and deficits. Krugman writes:…

News

Republicans don’t give a damn about the deficit and other links

Edward Harrison Jul 16, 2010

Most News-worthy Links Republicans don't give a damn about the deficit | Sahil Kapur | Comment is free | guardian.co.uk Paul Krugman - Redo That Voodoo - NYTimes.com Why Germany should not listen to the US | vox The Usual…

Economy

ECRI Index annualized change almost a lock for double dip territory

Edward Harrison Jul 16, 2010

The ECRI Weekly Leading Index (WLI), a measure of future U.S. economic growth stands at 120.6 unchanged from a week ago. We first began actively talking about the WLI in April as a predictive indicator for either sustained recovery or a…

Business

Whoopi Goldberg: “I just murdered my new iPhone”

Edward Harrison Jul 15, 2010

Wow. The iPhone 4 antenna issue is turning into a nightmare for Apple. You've got David Letterman joking about it. Now Whoopi Goldberg tells millions of viewers she hates the new iPhone. Will there be a recall? She caveats this thing but…

News

Links: 2010-07-15

Edward Harrison Jul 15, 2010

Posting may be light this morning, but there are a few issues on tap to discuss. JPMorgan Chase had great earnings, beating estimates by 40 cents a share. Of course, they did so largely on the back of lower loan loss reserves. So I remain…

Economy

Paul McCulley does Modern Monetary Theory

Edward Harrison Jul 14, 2010

This is just in from PIMCO's Paul McCulley, who seems to have caught on to the Wynne Godley sectoral balances approach to viewing the macro economy (hat tip Scott). He says: Double-entry bookkeeping was a great invention. It is a…

News

David Letterman’s Top 10 Signs You’ve Purchased A Bad iPhone 4

Edward Harrison Jul 14, 2010

What happened to the days when people were saying this phone was one of the most beautiful things we've ever made?" When you make Letterman, you have a problem.

News

On Why The Doomsayers Are Wrong And Other Links

Edward Harrison Jul 14, 2010

Must-reads Why the Doomsayers Are Wrong - WSJ.com The New Doom: A Second Wave of Economic Pessimism Spreading Outside Wonkdom | The New York Observer The Usual Fare Hitzewelle: Bauernpräsident sieht höhere Lebensmittelpreise -…

Markets

Rosenberg: Fundamental Trendline Is Still Down

Edward Harrison Jul 14, 2010

Picking up where I left off in the last post regarding forward earnings, David Rosenberg has this to say: Intel enjoyed its best quarter ever at the peak of the inventory cycle. Well done. What we are grappling with is this. If the…

Economy

Thoughts on the weak retail sales number

Edward Harrison Jul 14, 2010

I am on BNN in Canada today at 1215 ET to talk about matters financial. So as a lead-in to what I am going to say there, I wanted to write here about the retail sales numbers, earnings season and the economy. Retail sales were weak. The…

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