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.

Political Economy

China launches retaliatory investigation into U.S auto subsidies

Edward Harrison Oct 29, 2009

China has sent yet another public signal that it is unhappy with the U.S. and its trade policy by prepping an investigation into alleged illegal auto subsidies by the U.S. government. The timing of this announcement puts a spotlight…

Economy

A sustainable recovery with 530,000 weekly claims?

Edward Harrison Oct 29, 2009

That’s what we seem to be expecting based on the huge uptick in equities since March. While stock markets have long since moved it up a gear, the employment market is stuck in neutral. The latest seasonally-adjusted jobless claims numbers…

Economy

Third quarter GDP growth comes in at 3.5%

Edward Harrison Oct 29, 2009

While a positive number was expected, let’s wait to crunch the numbers before we pop the cork on the Moet – the price index was only 0.8% versus an expected 1.4%. So I will want to see what is happening with nominal GDP. I also want…

Economy

GMAC has been nationalized

Edward Harrison Oct 29, 2009

And you thought the bailouts were over and market discipline might be restored. Not a chance – the bailouts will continue, come hell or high water. The latest demonstration of this is GMAC, where the government will now be majority…

Monetary System

The choice is between increasing or decreasing aggregate demand

Edward Harrison Oct 28, 2009

This is a post I wrote in response to an ongoing debate about financial crises, credit revulsion and deficit spending over at Naked Capitallism. See the four links in the first paragraph for the precursor articles. DoctoRx, Rob Parenteau…

News

Links: 2009-10-28

Edward Harrison Oct 28, 2009

Finance and Politics All Debt is Not Created Equal: Government Debt is NOT the Same as Private Debt - Marshall Auerback Must-read Why rich college kids can sell dope and you can't - Denver News I have a slightly different take…

Economy

Andy Xie: Central bank “arsonists have been asked to put out the fire”

Edward Harrison Oct 28, 2009

Former Morgan Stanley economist Andy Xie joins other famed prognosticators like Nouriel Roubini in worrying about an incipient asset bubble. The Rosetta Stone Advisors board member sees the huge increase in money supply created by central…

News

Norway makes three

Edward Harrison Oct 28, 2009

The Norwegian central bank has hiked rates 25 basis points, making it the third central bank and first European central bank to do so since the global recovery process started. The Financial Times says: Norway’s central bank increased…

Political Economy

On so-called bureaucrats in Washington and the morality of capitalism

Edward Harrison Oct 28, 2009

Every time I hear the word ‘bureaucrat’ used to make a point for or against government’s role in the economy, I cringe. I see this label as unfair and dehumanizing. I grew up in Washington , D.C. where my parents and their friends rose…

Markets

Extend and pretend and the growing divide between delinquencies and foreclosures

Edward Harrison Oct 28, 2009

Annaly Capital Management’s blog has a good piece up on foreclosures, inspired by yesterday’s Case-Shiller data (hat tip Scott). If you missed it, The S&P/Case-Shiller index showed a pretty steep 1.2% month-on-month increase in U.S.…

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