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

The dollar rally spells trouble for some investors

Edward Harrison Sep 5, 2008

It was about 4 weeks ago now that I said I thought the dollar rally was not a fundamental move, but a monster bear market rally which will end up hurting dollar shorts. Back then, the Euro was trading for 1.5164 dollars. Today, the Euro…

Economy

Chart of the day: change in unemployment

Edward Harrison Sep 5, 2008

For every business cycle since 1929, when U.S. unemployment data was first calculated, when the unemployment rate has gone up more than 1% in one year's time, this has spelled recession. Moreover, the unemployment rate has never risen 1.0%…

Economy

US unemployment hits 5-year high of 6.1%

Edward Harrison Sep 5, 2008

The unemployment rate in the U.S. jumped 0.4% to top 6.1% for the first time in five years. This rise was much, much larger than expected and makes it almost certain that the United States is in recession. Updates to follow as I crunch the…

News

News round-up: 5 Sep 2008

Edward Harrison Sep 4, 2008

It seems like the global economy is in a holding pattern right at the border of recession and slow growth. The writedowns continue to trickle in drip by drip, unemployment is rising ad retail sales are sluggish, but there has yet to be a…

Economy

Natixis offers rights issue at 61% discount

Edward Harrison Sep 4, 2008

The troubled French bank Natixis is asking its shareholders to pony up billions in additional funds -- but at a huge 61% discount. This is a bank that is in deep trouble. Every country has one bank on the brink from Bradford & Bingley…

Economy

Palin: a tidbit I received from a friend by a Wasilla resident (update)

Edward Harrison Sep 4, 2008

I received this e-mail from a friend that was originally penned by a resident of Wasilla, Alaska where Sarah Palin was mayor before becoming Governor of Alaska. It gives a fairly intimate look at Palin and how she got to where she is.…

Political Economy

The ECB is making good on Wellink’s statements

Edward Harrison Sep 4, 2008

ECB governing council member and Dutch National Bank head Nout Wellink said two weeks ago that the ECB was going to stop lenders abusing ECB's credit crisis policy of accepting lower credit quality. The ECB is going to make good on…

Economy

A note on small towns and national politics

Edward Harrison Sep 4, 2008

Mark Thoma has a thoughtful post on the news swirling around the Sarah Palin pick as VP candidate for the GOP. His point is that the Dems risk looking condescending and elitist toward small town America in their attacks on Palin and had…

Economy

Are US jobless claims telling us something?

Edward Harrison Sep 4, 2008

For the past several weeks, jobless claims have arguably been distorted by seasonality and the extension of unemployment benefits from six to nine months. However, the numbers have risen well above the critical 400,000 mark. Are these…

News

News round-up: 4 Sep 2008

Edward Harrison Sep 4, 2008

Today's round-up looks at the auto industry, financial services, politics, and the economy.North American sales were absolutely horrible for the Big Three automakers despite the fall in gas prices. Even Toyota saw a slump. But, the Big…

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