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

Banks to stop accepting California’s IOUs

Edward Harrison Jul 7, 2009

This can't be good. A group of the biggest U.S. banks said they would stop accepting California's IOUs on Friday, adding pressure on the state to close its $26.3 billion annual budget gap. The development is the latest twist in…

Monetary System

Popping bubbles

Edward Harrison Jul 7, 2009

I saw this post with cool pictures on popping bubbles and I thought about Alan Greenspan. Sir Alan says you cannot recognize bubbles until after they have burst. I think that’s nonsense – certainly in the case of the “Great…

News

Links: 2009-07-07

Edward Harrison Jul 7, 2009

U.S. office market continues to spiral down - Reuters Vacancy rate is now 15.9% Surprise drop in UK output hits recovery hopes - Guardian Data in UK missing expectations now too. Close Relationship Between Past…

Markets

Marc Faber Raw

Edward Harrison Jul 6, 2009

Here is a Marc Faber interview from March. It is well worth watching because he calls things perfectly through June: economic news, equity markets, and commodity markets. This is billed as a Czech TV interview. But the audio is…

Political Economy

A conversation with Pete Peterson on Charlie Rose

Edward Harrison Jul 6, 2009

Peterson is the former Nixon cabinet secretary and founder of the Blackstone Group. He is also a well-known deficit hawk and founder of the Peterson Foundation. He recently wrote his autobiography, “The Education of an American…

Markets

Demand for Treasury securities is still high

Edward Harrison Jul 6, 2009

10-Year TIPS were sold with a Bid/Cover ratio of 2.51. Almost half of the securities went to indirect bidders, meaning central banks are still bidding for U.S. government debt. Obviously, there is no problem for Treasuries despite…

News

Noontime Links

Edward Harrison Jul 6, 2009

I ran across a slew of stories this morning, so I am making another links post. Enjoy. Super-size Deposits Of Frozen Carbon In Arctic Could Worsen Climate Change This makes a trilogy of environment stories Vitamin D…

Markets

South Africa: Nationalising mines?

Edward Harrison Jul 6, 2009

This comes via Brown Bothers Harriman’s Win Thin (no link available): South Africa’s ruling ANC said that it was open to discussing demands by its labor union allies to nationalize its mines. This is an astounding admission, and…

Political Economy

America’s Fiscal Train Wreck

Edward Harrison Jul 6, 2009

I think a technical recovery will happen in the Q4 to Q1 timeframe. But this recovery is likely to be weak, if it happens at all. Downside risk remains. Unfortunately, the Obama administration has fired all its bullets, spending…

Markets

Asset bubble in Asia

Edward Harrison Jul 6, 2009

The fundamentals in Asia are much stronger than they are in the U.S. or in Europe. This bodes well for a recovery in the region. Nevertheless, there is reason to worry because here is a video warning about an Asian-wide bubble in the…

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