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.

News

News from around the web: 2009-10-09

Edward Harrison Oct 9, 2009

I am off to a wedding today and through the weekend, so I will leave you with the links and one more post to come. I hope to hear from you all again on Monday. Have a great weekend. Paul Kedrosky: Why I Love Venture Capitalists…

Monetary System

How did economists get it so wrong (parody version)?

Edward Harrison Oct 8, 2009

Remember when Paul Krugman asked aloud “How Did Economists Get It So Wrong?” He had a very well-received answer. But he left out something. The elephant in the room was debt. No one seems to have been noticing. Below is a…

Markets

The market is moving. You should be too.

Edward Harrison Oct 8, 2009

That was the title of an e-mail I received from my bank today. Here is what the e-mail looked like:

Economy

Why is everyone saying consumer credit is falling? It’s not.

Edward Harrison Oct 8, 2009

But, everywhere I look, everybody is saying it is. I would like to be true to the data and not just take the government’s seasonally-adjusted numbers at face value. Judge for yourself. Here’s the data: This is what everyone is focused on…

Economy

Letterman’s top ten reasons you know the economy is bad

Edward Harrison Oct 8, 2009

Here’s the joke of the day via Steve Keen: Ten reasons the economy is so bad (I suggest this as a top ten for David Letterman?): #10: I got a pre-declined credit card in the mail. #9: I ordered a burger at McDonalds and the kid…

Economy

Jobless claims lowest in 9 months

Edward Harrison Oct 8, 2009

Jobless claims were reported as 521,000 on a seasonally-adjusted (SA) basis for the week ended October 3. This is the lowest reported figure for initial claims since January 3. The data came in lower than expectations and was matched by a…

Economy

“That’s what happens when a town full of broke people gets a whiff of free money”

Edward Harrison Oct 8, 2009

The banks have been the ones benefitting most from free money via the Federal Government and U.S. taxpayers. Given 9.8% base unemployment and 17.0% comprehensive unemployment, it is a bit galling for ordinary Americans that these same…

Economy

Some banks not paying TARP dividends

Edward Harrison Oct 8, 2009

A friend sent me the following article from USA Today: The U.S. taxpayers' investments in smaller banks are increasingly at risk. In a sign that more banks are under great pressure from the recession, 34 financial institutions did…

News

News from around the web: 2009-10-08

Edward Harrison Oct 8, 2009

Hypo Needs an Extra $10.2 Billion to Survive - WSJ.com "German real-estate financier Hypo Real Estate Holding AG needs an additional €7 billion ($10.2 billion) in capital from the German government to stay afloat and won't…

Economy

Consumer credit falls 4.4% from year ago levels

Edward Harrison Oct 7, 2009

The Federal Reserve has just released the most recent data on consumer credit. The data show outstanding consumer credit falling to $2.47 trillion in August from a December 2008 peak of $2.59 trillion – on a non-seasonally adjusted (NSA)…

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