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: 2008-12-02

Edward Harrison Dec 2, 2008

The news yesterday was pretty grim as Japanese, Chinese, Eurozone, UK and US manufacturing sectors all showed significant weakening. Combine this with an acknowledgment that we have been in recession for one year already and Meredith…

Economy

The U.S. has been in recession for one year

Edward Harrison Dec 1, 2008

My very first post on this blog was in March and it was titled "The Economy Is Definitely In Recession." Back then, this seemed like a stretch for a lot of people, but today the National Bureau of Economic Research (NBER), which makes the…

Blogs

In Memoriam: Tanta of Calculated Risk

Edward Harrison Dec 1, 2008

Today I learned that we lost one of the most talented bloggers out there, Tanta from the blogsite Calculated Risk. Tanta had been battling cancer. She died aged 47 and will be missed not only by those who knew her but by her many readers…

Economy

Meredith Whitney: more bearish than ever, but…

Edward Harrison Dec 1, 2008

Last night, in an e-mail Yves Smith of naked capitalism pointed out an Op-Ed piece by Meredith Whitney which ran in the Financial Times yesterday. It was a fairly somber and downbeat assessment from an analyst who has proved right on the…

Economy

ISM Manufacturing Index: Deep recession territory

Edward Harrison Dec 1, 2008

The Institute for Supply Management (ISM) released its monthly report on Manufacturing, the ISM Manufacturing Report on Business®. It showed a reading of 36.2 down from 38.9. Where 50 is the demarcation line between growth and recession,…

News

Links: 2008-12-01

Edward Harrison Dec 1, 2008

I am altering my news round-up a bit here in that we have shifted the bulk of the news stories over to the news feed, which gets updated continuously. So, I will use the round-up to highlight a few top stories. The majority of today's…

Monetary System

Quantitative easing: printing money like mad to ward off deflation

Edward Harrison Nov 30, 2008

In economic circles, there has been a lot of buzz about Quantitative Easing of late. Basically, the U.S. Federal Reserve has lowered interest rates to near zero percent and the fear is that these cuts will not have enough effect on the…

Economy

JPMorgan Chase: Large exposure to real economy downturn

Edward Harrison Nov 30, 2008

The financial services sector has been the hardest hit sector in the credit crisis so far. Banks with large exposures to mortgage-backed securities like Citigroup, UBS and Merrill Lynch have suffered the most. This is largely because the…

News

Links: 2008-11-29

Edward Harrison Nov 29, 2008

Below are links to a few posts on the web that I found particularly good. For more posts and news, see the news feed.

Political Economy

If the Fed were a commercial bank, it might be declared insolvent

Edward Harrison Nov 28, 2008

Recently, I have written quite a few posts demonstrating the U.S. Federal Reserve has a ballooning balance sheet as it increases its purchases of assets at an unprecedented clip. In fact, that balance sheet had $800 billion in assets just…

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