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.

Monetary System

A brief philosophical argument about the role of government, stimulus and recession

Edward Harrison Dec 12, 2008

I was chatting with Marshall Auerback about some of my recent posts on Keynesianism and Austrian Economics -- Marshall is a Keynesian -- and he convinced me that my posts were somewhat misleading and that I had only presented half of the…

Monetary System

Nouriel Roubini: Will massive stimulus ward off stag-deflation?

Edward Harrison Dec 12, 2008

I am certainly of the view that a considerable worsening of the recession is baked in the cake for 2009. But will fiscal and monetary stimulus prevent worst case scenarios? I certainly hope so, as I have laid out in recent posts. But,…

Distraction of the day: “The Reader” with Kate Winslet

Edward Harrison Dec 12, 2008

December is a big month for Hollywood as some of the biggest and most critically acclaimed movies come out in December. One such movie is "The Reader" starring Kate Winslet. I am a big fan, so I thought I'd provide you with a little…

News

Pre-market update: 2008-12-12

Edward Harrison Dec 12, 2008

Pre-market trading is not looking good. Everyone is pointing to the auto bailout failure as the cause. If you're in treasuries, you are very happy because yet again the flight to lunacy continues as equity markets sell off.

Monetary System

What does Mises say about trying to stimulate the economy out of recession

Edward Harrison Dec 11, 2008

Recently I wrote a post which claimed that Keynesian stimulus is what we need in the global economy right now. These ideas are considered heresy in Austrian School circles because trying to stimulate the economy out of recession only puts…

Economy

Jamie Dimon: November was terrible, December is terrible

Edward Harrison Dec 11, 2008

Jamie Dimon tells it like it is. When asked by CNBC's Erin Burnett's how business is going, Dimon replied "terrible." Here's how Reuters describes his comments: "November itself has been a terrible trading month ... (and) December so far is…

Political Economy

An Icelandic post-mortem

Edward Harrison Dec 11, 2008

The Economist does a very good post-mortem on Iceland and its spectacular collapse with a number of lessons for other countries, especially those with oversized financial sectors like Ireland, Switzerland and the U.K. Below is a snippet…

News

Links: 2008-12-11

Edward Harrison Dec 11, 2008

The big news today (at least in my mind) is the outsized jobless claims number of 573,000. This number confirms the view that the employment situation is worsening quite rapidly. I think we could see 7.2% unemployment next month given…

Monetary System

Quote of the day: William White and inflation

Edward Harrison Dec 11, 2008

Caroline Baum had a good column today at Bloomberg in which she suggests central banks consider asset prices in monetary policy going forward. In the piece she quoted William White, a former economist from the Bank for International…

Economy

U.S. unemployment claims hit a 26-year high of 573,000

Edward Harrison Dec 11, 2008

Weekly jobless claims rose in the U.S. to the highest level since 1982, signaling a further deterioration in the U.S. employment market. The seasonally-adjusted number for initial claims was 573,000 while the real number was an eye-popping…

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