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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

ISM: Is this the mother of all inventory corrections?

Edward Harrison Jul 1, 2009

The June 2009 Manufacturing ISM Report On Business® came out today and we saw yet another rise in the PMI to 44.8. While equity markets in the U.S. seemed pretty pleased that the numbers continue to go up, I found this report a bit…

Economy

What’s in your wallet? Probably higher interest rates.

Edward Harrison Jul 1, 2009

FT Alphaville is reporting that the credit rating agency Fitch puts credit card losses at 10.4% of outstanding loans. This is a record. Bad news if you are a credit card company. So, what does one do in that…

Political Economy

Cultural attitudes on work, leisure and wealth in Europe and America

Edward Harrison Jul 1, 2009

I happened upon an article about shops being closed in France that highlighted a larger issue about cultural attitudes in the U.S. and Europe regarding work, leisure and material wealth. I would like to share some thoughts with you on…

Political Economy

Soros: ‘Markets have moods’

Edward Harrison Jul 1, 2009

George Soros believes regulators “will always be wrong.” But, he does not feel that gives them an excuse to fall asleep at the wheel. In this video conversation with the Wall Street Journal’s Alan Murray, Soros makes the case for regulatory…

Markets

Bill Gross: the new normal means investors should shun risk

Edward Harrison Jul 1, 2009

PIMCO, the world’s largest bond fund, has a new investment outlook by Founder Bill Gross. In it he says that we are in a long-term lower growth pattern as the asset-based economy of yore has melted away. He warns that this means risky…

Monetary System

S.F. Fed chief Yellen tells inflationistas to pipe down

Edward Harrison Jul 1, 2009

Of late, there have been a lot of worries about he potential for inflation in the U.S. Marc Faber is the most noted pundit in this regard. Over-the-top comments he made back in May about hyperinflation in the U.S. may have been a catalyst…

Markets

Soros: ‘the dollar is a very weak currency except all the others’

Edward Harrison Jul 1, 2009

Update 19 Jan 2010: In light of Euro weakness and the fissures in the Eurozone economy, one should how the dollar is going to fall precipitously as many have been arguing for months. The Chinese have pegged their currency, the Eurozone has…

News

Links: 2009-07-01

Edward Harrison Jul 1, 2009

Financial sector pro-cyclicality: Lessons from the crisis, Part II - vox On the back of the last article, here are some proposals on how to mitigate the pro-cyclical effects of compensation and leverage Financial sector…

Economy

California is to begin handing out IOUs tomorrow

Edward Harrison Jun 30, 2009

This is effectively bankruptcy. Bloomberg reports. California is poised to begin its new fiscal year tomorrow without a plan in place to close a $24 billion deficit as the state prepares to conserve cash by issuing IOUs to vendors who are…

Economy

Securitization in finance as slaughterhouses that can kill

Edward Harrison Jun 30, 2009

This past weekend I saw the film Food Inc, which I recommend highly to anyone looking to see how deregulation has affected industries other than finance. While the subject of Food Inc was how the industrialization of food policy in…

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