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.

Political Economy

The short-selling rule and unintended consequences

Edward Harrison Jul 16, 2008

When you start monkeying around with markets, strange things happen. This is what the SEC is about to learn as market makers from the seven options exchanges are preparing to ask for exemptions from the new anti-free market SEC…

News

News Round-Up: 16 Jul 2008

Edward Harrison Jul 16, 2008

Recession-Plagued Nation Demands New Bubble To Invest In - OnionFed Steps Back From Imaginary Tightening Ledge: Caroline Baum - BlombergFinancier's Death Hints at Trouble for Lenders - WSJGoldman Is Queried About Bear's Fall - WSJJim…

Markets

Commercial property hits the front page

Edward Harrison Jul 16, 2008

Stories of commercial real estate distress in the U.S. are mounting. As the residential real estate fallout takes form, commercial real estate has come under pressure as well. The Wall Street Journal has a front-page story out today that…

Economy

Chart of the day: projected US government deficit

Edward Harrison Jul 16, 2008

Now that we are practically guaranteed to add the Fannie and Freddie debt to the already robust debt levels of the US Government, its a good time to look at what the Government's accountant (GAO) says about its fiscal position going…

Economy

U.S. Consumer Prices Climb by the Most Since 2005

Edward Harrison Jul 16, 2008

The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.0 percent in June, before seasonal adjustment, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. The June level of 218.815 (1982-84=100) was…

Economy

UK real wages falling

Edward Harrison Jul 16, 2008

Last month, in a post called 'Chart of the day: real hourly earnings' I said that U.S. real wage rates were lower today than they were a generation ago on the eve of the first oil hock. hat's pretty poor. Today 'UK Bubble' highlights the…

Economy

Next Stop: US sovereign debt downgrade

Edward Harrison Jul 16, 2008

We bailed out Bear Stearns. We have effectively said we are bailing out Fannie and Freddie. Who's next? All of this is only going to increase U.S. Government debt. Is this where we're headed? Note the last part in red: From 2002:…

Markets

Treasury credit default swaps rise dramatically

Edward Harrison Jul 16, 2008

As you would expect, the market sees the U.S. Government as much less creditworthy. Note the rise in credit default swaps on U.S. Treasuries. The question is: when will its foreign government supporters abandon a sinking ship. This is…

Political Economy

Quote of the Day: Jim Bunning

Edward Harrison Jul 16, 2008

In his prepared remarks at the Senate Banking Committee, Jim Bunning had a classic line.When I picked up my newspaper yesterday, I thought I woke up in France. But no, it turns out socialism is alive and well in America.-Bunning Senate…

Economy

UK unemployment benefits rise most in 15 years

Edward Harrison Jul 16, 2008

When people start losing their jobs, spending goes down. Nothing ties this credit crisis to the real economy like unemployment. And in the UK, it's rising fast.The Office for National Statistics said the amount of people claiming…

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