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.

Markets

Household debt as an indicator of secular bull and bear markets

Edward Harrison Oct 7, 2009

In my last post, I presented you with a bunch of data on debt levels broken down by sector of the economy (see “A brief look at the Asset-Based Economy at economic turns”). I found it interesting that a secular pattern seemed to be at…

Economy

A brief look at the Asset-Based Economy at economic turns

Edward Harrison Oct 7, 2009

This morning I again wanted to challenge my somewhat bullish medium-term outlook but bearish longer-term view on the US economy – this time by looking at the data on debt. What follows is going to be a very numbers-heavy post. So, I…

News

News from around the web: 2009-10-07

Edward Harrison Oct 7, 2009

The Alignment of Asset Reflation and a Collapsed Economy | Gregor.us "there is no macroeconomic recovery occurring in the United States. What’s unfolding currently is snap-back from last year’s crash, which led us to the bottom of…

Economy

Corus Bank assets: And the winning bidder is…

Edward Harrison Oct 6, 2009

Starwood Capital Group gets the assets in a consortium with TPG capital, Perry Capital and WLR LeFrak (another Wilbur Ross company – this guy is cleaning up in the FDIC private equity bonanza). Here’s the press release: The Federal…

Political Economy

TARP was sold to Americans under false pretenses

Edward Harrison Oct 6, 2009

Hank Paulson and Ben Bernanke told us when the Troubled Asset Relief Program (TARP) was launched that they were not concerned about the health of our banking system. In fact, this was not the case. They were concerned about specific…

Markets

Gold hits all-time record high

Edward Harrison Oct 6, 2009

Gold hit a record high of $1,044.30 an ounce, beating the previous record of $1,032.35 set back in March and up a monster $26 on the day. The impetus is the crashing dollar, brought down by a report (later denied) that OPEC states and the…

Markets

UK house prices up again in September

Edward Harrison Oct 6, 2009

The Halifax reports that UK house prices rose for the third consecutive month in September, up 1.6% from August levels. Key to the rise has been a lack of supply coupled with increased demand (100% mortgages have helped as well). Last week,…

Markets

RBA hikes rates 25 basis points in Australia

Edward Harrison Oct 6, 2009

The Reserve Bank of Australia unexpectedly raised rates by 25 basis points to cool down its economy. It will “gradually reduce stimulus” in anticipation of sustained recovery. Australia has probably been the major economy least affected by…

Markets

The latest dollar rout revealed

Edward Harrison Oct 6, 2009

The U.S. dollar is getting crushed again today. I have been waiting to see if and when it hits parity with the Swiss Franc. Today’s action brings us that much closer. The dollar is losing ground against the dollar bloc (Kiwi, Aussie…

News

News from around the web: 2009-10-06

Edward Harrison Oct 6, 2009

La producción industrial cae un 13.1% y encadena 16 meses de descensos Spain's industrial production is still cliff diving. How are their banks able to withstand this catastrophe? FT.com - HSBC chief fears a second downturn Consider…

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