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.

Monetary System

Inflation or deflation?

Edward Harrison Jun 30, 2008

I am firmly in the deflation camp. I worry about inflation over the short-term, but I still think the long-term threat to the global economy is deflation because asset price deflation will usher in deflationary forces. Nevertheless, there…

Markets

How far will US home prices fall from their peak?

Edward Harrison Jun 30, 2008

I ran a short poll over the last week and the results are in. Readers at Credit Writedowns expect house prices in the U.S. to fall well in excess of 30%. From where I sit, this makes a lot of sense (I voted too: for a 30-50% fall). If…

Markets

Chart of the day: Dow 1928-1932

Edward Harrison Jun 30, 2008

Bear markets are not an orgy of pain with indices going straight down. Along the way, there are always brief rallies which bring optimism that the worst is over.

Monetary System

BIS warns of worsening credit crisis and deflation

Edward Harrison Jun 30, 2008

Ambrose Evans-Pritchard writes in today's Telegraph of the BIS annual report, which is unusually cautious about the global economy. His article makes for sobering reading.Bill White, the departing chief economist at the BIS, in writing his…

Markets

Louise Yamada: financials going lower

Edward Harrison Jun 29, 2008

In this weeks Barron's, Louise Yamada writes that financials in the U.S. have not fallen nearly enough in respect to their meteoric rise in the U.S. indices. She predicts further pain in the sector to where they represent less than a…

Economy

Barron’s: an interview with Peter Schiff

Edward Harrison Jun 29, 2008

Peter Schiff, the investor and author, is a controversial figure. He tells of an America that has lost its way through shedding manufacturing and its habit of saving money. His conclusion is that the U.S. is not a place where he wants his…

Economy

Nouriel Roubini: we are in recession

Edward Harrison Jun 29, 2008

"Bloomberg on the Economy" recently spoke to Nouriel Roubini, the oft-quoted NYU finance professor. He believes the U.S. is now in recession and that a global slowdown is in the offing. There are several other countries in recession or…

Economy

Chart of the day: US federal spending and receipts

Edward Harrison Jun 29, 2008

The chart below is yet another from Perot Charts. I have no particular message in mind with this chart except to inform my readers how the government gets and uses tax monies. One issue to note is the outsize proportion of taxes that…

Markets

A brief word about speculation in oil

Edward Harrison Jun 28, 2008

The front page of today's business section of the New York Times features an article by Joe Nocera that correctly questions Washington's preoccupation with speculators as the source of our oil crisis. It seems the witch hunt in Washington…

Economy

A levee breaks in Missouri

Edward Harrison Jun 28, 2008

WINFIELD, Mo. -- A makeshift sandbag levee holding back the Mississippi River failed early Saturday and authorities said part of the town was evacuated.From the Wall Street Journal.Winfield, 45 miles northwest of St. Louis, is in Lincoln…

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