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.

News

Links: 2008-12-16: the deflation edition

Edward Harrison Dec 16, 2008

Given the Fed's dramatic cut to a Zero Interest Rate Policy (ZIRP) and a verbal commitment to quantitative easing, I wanted to change things a little for this round-up. I am going to link out to myself by going back in the archives and…

Markets

U.S. Dollar: Cliff Diving

Edward Harrison Dec 16, 2008

Zero percent interest rates mean a weak currency. The U.S. Dollar is getting hammered. See these charts from the last day and a half of trading. Even the British Pound is cleaning up!

Economy

Chart of the day: U.S. Consumer Price Index

Edward Harrison Dec 16, 2008

I recently wrote a post about U.S. Treasury securities which have been rising in price as interest rates have come down. In the post, I called the Treasury rise a bubble and I stick by that moniker despite protests from some astute readers.…

Monetary System

Connecting Fed cuts with credit writedowns and quantitative easing

Edward Harrison Dec 16, 2008

To my mind, lowering interest rates in the aftermath of an enormous credit bubble where institutions have just destroyed $1 trillion in capital is wrong. It distorts lending decisions such that yet more money will eventually be lent out…

Markets

Jim Chanos: “It’s a bear market rally”

Edward Harrison Dec 16, 2008

Jim Chanos, the famous hedge fund guru and short-seller does not think stocks are going to be up for long. He sees the recent rally on the back of promised government stimulus as temporary and expects markets to resume their downward…

Political Economy

McCain campaign leaves secret e-mails on Blackberries sold off to public

Edward Harrison Dec 16, 2008

Here's a little video that should teach you why you need to erase all data permanently before you sell or get rid of any computer, Blackberry or computing device.

Business

Glencore: credit default swaps suggest something amiss

Edward Harrison Dec 16, 2008

You have probably never heard of Glencore. Well you have heard of its founder Marc Rich, the man infamously pardoned by President Clinton before he left office. And I suspect that you will soon hear a lot more about the company as well.…

Economy

Goldman loses $2.1 in the third quarter

Edward Harrison Dec 16, 2008

Goldman has done exceptionally well compard to other investment banks through this credit crisis. However, many were predicting a stunning turn of fortune for the latest reporting period. And stunning it was as Goldman lost a mammoth $2.1…

Political Economy

Russia’s choice between a nuclear arsenal and a modernized infantry

Edward Harrison Dec 16, 2008

In a world of limited resources where oil prices have plummeted, Russia's military is ever more stretched. Yesterday, I highlighted the implosion in the Russian economy, suggesting that many in Washington see Russia as a potential problem…

News

Links: 2008-12-15

Edward Harrison Dec 15, 2008

Happy Monday. It was a fairly slow news day actually. But that doesn't mean there weren't a lot of stories to follow on economics and finance, because there were a lot. I am officially stopping the Madoff madness and moving on to something…

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