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.

Economy

UK inflation exceeds Bank interest rate for first time since 1981

Edward Harrison Aug 12, 2008

Despite my protestations that inflation is due to fall sharply over the next six months, I do have to point out that real interest rates are not only negative in the U.S. all the way across the curve, they are also negative in most of the…

Economy

Bloomberg: $500 billion in writedowns by firm

Edward Harrison Aug 12, 2008

(See my Credit Crisis Timeline for the news stories associated with the writedowns and related events during the crisis, the most recent of which you can find here.)Yalman Onaran at Bloomberg News has tallied the writedowns in the credit…

Political Economy

Gorbachev gives the lie to Western claims about South Ossetia

Edward Harrison Aug 12, 2008

I wrote a blurb on the Georgia-Russia struggle on my blog. But I wanted to add a blurb here from Mikhail Gorbachev's Op-Ed in today's Washington Post. His viewpoint stands in great contrast to the punderati of Washington. Framed in a real…

Political Economy

Question of the day: Would we go to war for Georgia?

Edward Harrison Aug 12, 2008

If Georgia or Ukraine were a part of NATO, we would be willing to go to war for them as that is what NATO means. Think about it: Russia attacks the Ukraine or Georgia and the U.S. and its allies go to war to stop the Russian aggression.…

Markets

One-third of recent US homebuyers underwater

Edward Harrison Aug 12, 2008

According to Seattle-based Zilliow, nearly one-third of U.S. home buyers who bought in the last five years are now underwater. A full 45% of those who bought at the peak in 2006 have negative equity in their homes. Negative equity makes…

Political Economy

The Russian – Georgian War

Edward Harrison Aug 12, 2008

While the finance world is concerned with its own problems of writedowns and deflating asset prices, a proxy war of great importance is being fought in the country of Georgia. It has everything to do with both a Russo-American power…

Political Economy

China to get Iraqi oil

Edward Harrison Aug 12, 2008

The Financial Times Deutschland is reporting that China and Iraq want to revive a Saddam-era oil contract between the two nation that is worth billions of dollars. The contract, an obvious economic coup for China, secures Beijing…

News

News round-up: 12 Aug 2008

Edward Harrison Aug 12, 2008

My Commentary: The lead story today is about UBS and it.s $5.1 billion in writedowns and what this means for the financial system going forward. When one combines the downbeat assessment by UBS management regarding Q3 and Q4 with the…

Economy

UBS writes down another $5 billion

Edward Harrison Aug 12, 2008

UBS reported a loss of 358 million Swiss Francs ($332 million) after writing down a further $5.1 billion in debt.In my post yesterday, I said the market expected as much. But, more importantly UBS has confirmed plans also mentioned in…

Blogs

Blog admin: switching feed address

Edward Harrison Aug 11, 2008

Hello readers!I have some admin news to update you on. A few months ago, I migrated my site over to a new URL and I have not updated my RSS feed to reflect the new address. I know that many of you look at my blog via RSS Feeds or e-mail.…

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