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.

Markets

Treasury Considers Plan to Halt Home Price Slide

Edward Harrison Dec 4, 2008

Marshall here. Slowly but surely, the Treasury is beginning to move more aggressively on providing help to homeowners, as opposed to bankers. This makes sense: A financial meltdown and housing deflation cannot be cured simply by pumping…

Economy

Jobless claims data tell a mixed story

Edward Harrison Dec 4, 2008

U.S. Jobless claims are out again and the data are mixed. The past week saw a drop in seasonally-adjusted claims from 530,000 to 509,000. Meanwhile, continuing claims rose on a seasonally-adjusted basis from 3,962,000 to 4,087,000. While…

News

Links: 2008-12-04

Edward Harrison Dec 4, 2008

I wanted to leave you all with a few links to interesting articles while I am away on holiday.

Monetary System

Chart of the day: Excess Reserves

Edward Harrison Dec 3, 2008

One feature that is peculiar to the present downturn is the accumulation of reserves at the U.S. Federal Reserve. I imagine it is no different at other central banks, though I have not seen the data. Let me tell you what this reserve…

Daily

Why I am bearish on the U.S. Dollar

Edward Harrison Dec 3, 2008

The U.S. Dollar has been holding up quite nicely during this credit crisis. In fact, it rallied significantly from deeply oversold levels against the Euro and British Pound (remember Dollar-Euro at 1.60 and Dollar-Pound at 2.10?). However,…

News

Links: 2008-12-03

Edward Harrison Dec 3, 2008

Yesterday was a good day in the markets, all in all. However, a number of anomalies still exist which we hope to cover in the coming days. Fist, there has bee an unprecedented rally in U.S. Treasury securities which some are calling a…

Political Economy

Application for the Federal Bail Out Program, 2008-2009

Edward Harrison Dec 2, 2008

A friend sent me a mock-up of an application for the free money the U.S. government is handing out in its bailout program. Very funny. Sign up for the EZ-Cash. (Hat-tip Scott)

Turning Japanese

Edward Harrison Dec 2, 2008

Back in September, during the depressing days after Lehman collapsed, I posted a few mindless videos as distractions of the day to get your mind off of Finance. I'm a day late because the markets rallied pretty nicely today. But, in honor…

Monetary System

Roubini: How to avoid the horrors of ‘stag-deflation’

Edward Harrison Dec 2, 2008

The US and the global economy are at risk of a severe stag-deflation, a deadly combination of economic stagnation/recession and deflation. Only very aggressive and co-ordinated policy actions will ensure the global economy recovers in 2010…

Monetary System

Pushing on a string and similar notions on monetary policy ineffectiveness

Edward Harrison Dec 2, 2008

As interest rates in the developed economies approach the zero bound, we must begin to ask ourselves how effective monetary policy can reasonably be in these circumstances. And if policy is to be effective, which policy tools will be most…

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