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

Chart of the day: Savings Rate

Edward Harrison
The United States has gone from saving an average of 8-10% of income for decades to zero or negative savings today. If you look at this chart of 12-month rolling average monthly data, it looks like people actually saved more as inflation…
Economy

Spanish economy slowing fast

Edward Harrison
A leading Spansh newspaper, ABC, reported today that Spanish growth is decelerating quickly. According to the paper, year-on-year growth slowed from 3.5% to 2.7% while quarter-on-quarter, growth was only 0.3% versus 0.8% in the previous…
Markets

More CRE reporting

Edward Harrison
The blogger Mish is on to the Commercial Real Estate (CRE) downturn. His latest blog entry,WSJ Report: Less Shopping = Fewer Malls, shows that both the WSJ and the FT are reporting a fall in CRE prices.The Financial Times is reporting a…
Markets

TED Spread is at a 9-month low

Edward Harrison
Well, even though the data in the real economy is looking pretty bad. There is good news. The Ted Spread is at a 9-month low. That should be very supportive of capital markets over the near term."Lending confidence at banks rose to the…
Economy

$35 billion in missing writedowns

Edward Harrison
I don't know if you caught the Bloomberg article about the $35 billion in missing writedowns, but I thought it was about time I exposed it. Bloomberg news says:Banks and securities firms, reeling from record losses resulting from the…
Markets

UK Bubble

Edward Harrison
As you know, I am looking at the UK and Spain as the epicenter for the next leg down in the housing bubble. Spain suffered massive overbuilding while the UK had a huge run-up in prices.The Blogger at UK Bubble is on to something in her…
Markets

Another CRE debacle

Edward Harrison
The Commercial Real Estate (CRE) bust is coming to an office building near you. The latest story? The GM building in NY was flogged off with some other properties at the peak of the bubble for a cool $3.6 to $3.9 billion. Now, the…

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