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.

Black Swan Sighting

Edward Harrison Aug 6, 2009

As I mentioned earlier this week, I am actually on a two-week holiday in Simcoe County, Ontario, just 90 minutes north of Toronto. We went to the Elmvale Jungle Zoo, an amazing place that has a huge variety of animals. It is really a…

Economy

US Jobless claims decline in latest week

Edward Harrison Aug 6, 2009

The US Department of Labor released the employment last data point before tomorrow’s widely anticipated unemployment number comes out. The data showed jobless claims declining to 550,000 from 588,000 on a seasonally-adjusted basis. This…

Economy

Judge stops BofA deal with the SEC

Edward Harrison Aug 6, 2009

Thank goodness someone has some sense. Manhattan Federal District Court Judge Jed Rakoff refused to approve Monday’s Bank of America’s deal with the SEC be cause it may be unfair to the public to accept the settlement. Bank of America was…

News

Night time reading: 2009-08-05

Edward Harrison Aug 5, 2009

Apple's new low: censoring a dictionary The anti-Apple backlash is on. Ten mysteries of you - New Scientist Very good series on the science behind human eccentricities. Xabi Alonso completes move to Real Madrid If Madrid…

Economy

Morgan Stanley’s V-shaped recovery is my W-shaped double dip

Edward Harrison Aug 5, 2009

Dick Berner, Chief North American Economist at Morgan Stanley, thinks we are in for a sizable uptick in GDP for Q3. I must be honest; I am sceptical about this, but Berner is a well-regarded economist whose views can’t be…

Economy

Services ISM survey falls indicating no recovery

Edward Harrison Aug 5, 2009

The July 2009 Non-Manufacturing ISM Report On Business disappointed as it dropped to 46.4 from 47.0. Expectations had been for 48.0. The new orders and jobs components both fell, suggesting that the services sector is still contracting and…

Economy

ADP report shows 371,000 jobs lost

Edward Harrison Aug 5, 2009

US private employers shed 371,000 jobs according to figures released by ADP today. Expectations had been for a loss of 350,000. As this report was released two days before the employment situation summary that gives us the…

News

News from around the web: 2009-08-05

Edward Harrison Aug 5, 2009

What You Get for ... $250,000 - NYTimes.com The house in Portland, ME is very nice. 'High Risk, High Reward' - washingtonpost.com McCain's Palin pick explained China’s growth figures fail to add up - FT Yet more reason to doubt…

Economy

Stephen Roach sees a W-shaped recovery for China

Edward Harrison Aug 4, 2009

The US is not the only place where a double dip downturn is to be feared. China has its own economic imbalances to deal with. Too much money is being thrown at the problem creating malinvestment and a bubble economy, shares…

Economy

Do the personal income data demonstrate unbalanced reflation?

Edward Harrison Aug 4, 2009

The Department of Commerce released the Personal Income and Outlays data for June 2009. What the data showed was a very unbalanced month in which personal income and savings dropped but personal consumption expenditures rose. In…

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