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

Bill Miller and Meredith Whitney: The Bull and the Bear

Edward Harrison May 14, 2009

The Bear here is Meredith Whitney, who says that bank stocks will return to negative earnings in the second quarter. That’s a big and very specific call that is very much out of line with the consensus. In an interview with…

Economy

U.S. Jobless claims rise 32,000 to 637,000

Edward Harrison May 14, 2009

Initial jobless claims rose 32,000 to 637,000 last week in the United States. This helped push continuing claims to another record of 6.56 million, suggesting the unemployment rate will continue to rise at a worrying pace going forward. …

Markets

Foreclosures hit a record in April

Edward Harrison May 14, 2009

This is a video from Bloomberg Television yesterday. It underscores the fragility of this incipient recovery. You will notice that California is leading the way in terms of foreclosures, one reason the state will 00 bankrupt or be bailed…

Economy

California will go bankrupt

Edward Harrison May 14, 2009

You can see this coming. It is looming and has been for some time. Remember that California is the biggest loser in the housing crash and it has one of the highest unemployment rates in the United States. I have been warning that this…

News

Links: 2009-05-13

Edward Harrison May 13, 2009

U.S. foreclosure filings sets record in April, seen jumping | Reuters "U.S. foreclosure activity in April jumped 32 percent from a year ago to a record high, and should mount because temporary freezes on foreclosures ended in March,…

Markets

Japanese opposition would avoid U.S. dollar bonds if elected

Edward Harrison May 12, 2009

It is not just the Chinese making noises about the reliability of the United States as a debtor. Now, Japanese politicians are doing it too. In fact, the Democratic Party of Japan (which is not in power) have said they would not buy U.S.…

Economy

A bearish view on Eastern Europe

Edward Harrison May 12, 2009

This morning you may have read Gideon Rachman’s positive view on Hungary. He said the panic is all but over and it looks like Hungry is going to get through this debt crisis. The horror scenario envisaged a Hungarian banking collapse that…

Markets

Rogers: Bail on the dollar and equities

Edward Harrison May 12, 2009

Not to go all bearish on you here, but I do think it is significant that a number of market pros are coming out of hiding and predicting some major turmoil. The latest in this group is Jim Rogers. He thinks we are about to have a serious…

Markets

Dow 4,000 still in the cards?

Edward Harrison May 12, 2009

As you all know, I think we are in a secular bear market rally/cyclical bull market right now. So, yes, this has been and may continue to be a powerful up-move in shares worldwide. However, I am certainly not convinced we are off to the…

Economy

Bear Stearns: Last 72 hours chronicled in new book

Edward Harrison May 12, 2009

Last night I received an advance copy of a new book by Wall Street Journal reporter Kate Kelly that gives us a peek inside the last seventy-two hours at Bear Stearns in March 2008. If you are interested in finance, “Street Fighters” is…

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