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

The slow but inexorable decline of jobless claims

Edward Harrison Nov 19, 2009

Initial jobless claims for the past week were 505,000, tied with last week for the lowest since January. This brings the 4-week average down to 514,000, the lowest since November of last year and the 11th consecutive week of declines. …

Business

Apple: Can it stop the Android menace?

Edward Harrison Nov 19, 2009

I want to take a break from banking and macro stuff and talk a little bit about technology. I wrote an article about Android a few weeks back. That was a more personal account on why I was switching from a Windows Mobile phone to Android,…

Monetary System

Steve Keen: Debt and the economy – how do we pay for all of this?

Edward Harrison Nov 18, 2009

Hat tip Rolfe Winkler.

Economy

The small bank – big bank dichotomy

Edward Harrison Nov 18, 2009

After a huge fall off in credit consistent with the fall in nominal GDP, we are seeing credit stabilise at a lower level. Debt to GDP ratios may not be lower, but as GDP is lower, so too is credit in the system. Yet there is a large…

Economy

Barack Obama: “if we keep on adding to the debt… that could actually lead to a double-dip”

Edward Harrison Nov 18, 2009

Barack Obama has now come clean about his thinking on why his administration has decided to focus first on reducing the deficit and next on jobs. He fears a double-dip recession will occur if foreigners lose confidence in the U.S. dollar,…

News

News from around the web: 2009-11-18

Edward Harrison Nov 18, 2009

Josh Reviews Everything: And then he took his pants off. Again. frontline: a class divided: watch the program | PBS In Case Someone Says You Couldnt See This Coming - Yves Smith U.S. conservatives: Obama bowed too deeply to…

Economy

Credit Suisse cautious on Citigroup due to regulatory hurdles

Edward Harrison Nov 18, 2009

Credit Suisse has a note out urging caution on Citigroup shares due to regulatory hurdles. Their logic bears noting as it can be useful for other U.S.-based banks. On Monday the CS analysts met with Citi management, who were somewhat…

Economy

News from 17 November 1930: “we face a winter of hunger and distress”

Edward Harrison Nov 17, 2009

This excerpt comes from the blog News from 1930 which gives us a day-to-day account of what was being reported in 1930 before the worst of the Great Depression hit. “The unemployment situation in New York is critical. Unless it is…

Economy

Why the FDIC’s Resources are Strong and Insured Deposits are “Absolutely Safe”

Edward Harrison Nov 17, 2009

Is this propaganda? I just received this e-mail from the FDIC’s consumer news with the title above. Personally, I never doubted that unbrokered deposits under $250,000 are safe at U.S. depositary institutions. But, the natural sceptic in me…

Economy

Food insecurity: alternative measure of economic distress skyrockets

Edward Harrison Nov 17, 2009

The US Department of Agriculture highlights how the United States in the last decade, despite increased aggregate wealth, slid back significantly in terms of food insecurity as measure of poverty. With everyone now focused on the…

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