Articles By: Edward Harrison

Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. 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. Edward also writes a premium financial newsletter. Sign up here for a free trial.

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Here are my most recent posts

Europe on the mend and China decelerating

Europe on the mend and China decelerating

The Euro area composite PMI rose to 54.0 from 53.1, making it unlikely that the ECB will move against deflation in May The Chinese HSBC/Markit flash manufacturing PMI was up to 48.3 from 48.0. However, this still shows contracting manufacturing and means China is still rebalancing Yesterday on Boom Bust, the finance show I produce, Marshall Auerback gave a good […]

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News: 2014-04-23

News: 2014-04-23

Meet the One, OnePlus’ $299 Nexus killer OnePlus One makes its official debut | Android and Me Bush-Miyazawa Dinner Made Mark in U.S.-Japan History – Japan Real Time – WSJ David Einhorn Just Cried Bubble And Let Slip The Shorts Of War | TechCrunch Catherine Rampell: Americans think owning a home is better for them than it is – The […]

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The so-called new economy and the disintermediation of the rent seekers

The so-called new economy and the disintermediation of the rent seekers

The so-called new economy is about disintermediation. That’s what it has always been touted as. And I think there’s validity to this. It’s interesting to see how incumbents deal with this disintermediation, especially when they have government-regulated markets. A perfect example is Airbnb. The company just closed a $500 million round of funding that values the enterprise at $10 billion. […]

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News: 2014-04-22

News: 2014-04-22

I am having some difficulties with the site. I will not be able to publish a newsletter until the issues in question are fixed. I apologize for this and hope to publish soon. Sportonomics: Score mobile app growing fast. Next up? Turning a profit | Toronto Star Netflix to raise prices for new subscribers by $1 or $2 this summer […]

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Economic and market themes: 2014-04-21 United States

Economic and market themes: 2014-04-21 United States

I have been off since Thursday due to the Easter holiday. But I want to write my traditional Friday post today with a grab bag of different issues I am seeing. I actually just want to focus on the US this time.

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News: 2014-04-21

News: 2014-04-21

News links for 21 Apr 2014

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News: 2014-04-18

News: 2014-04-18

News links for 18 Apr 2014

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Could the US economy accelerate higher in 2014

Could the US economy accelerate higher in 2014

I have been saying for some time now that I believe peak growth in this US business cycle was Q3 2013. Nevertheless, I want to explore the possibility that growth will accelerate from here, something that could keep stock prices and other risk asset prices elevated. A few quick thoughts below First, today’s jobless claims number at 304,000 supports the […]

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News: 2014-04-17

News: 2014-04-17

For Obama, Standoff With Moscow Jumbles Plans at Home and Abroad – WSJ.com ECB hardliner Weidmann comes in from the cold as deflation threatens | Reuters Weibo, a Chinese Answer to Twitter, Prices Its Offering at $17 – NYTimes.com – NYTimes.com Apple Said to Prepare Song-ID Feature for IPhone Software – Bloomberg YouTube Network The Young Turks Raises $4 Million […]

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Secular versus cyclical factors in equity markets

Secular versus cyclical factors in equity markets

Continuing where I left off yesterday, it’s clear that the global economy is growing now. We see growth in the US, Europe, Japan, and in emerging markets. Economic growth is the norm, not the exception. And over the longer term, markets will rise to reflect that growth. That’s what I mean when I say market and economic momentum is up and to the right. Here’s the problem; there are periods of time when economies and markets fall out of bed. And sometimes the upheaval is so great, it turns into a generational divide – a depression and/or secular bear market. I believe there is a good case that we are still both in a depression and a secular bear market and I want to explain how that matters below.

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News: 2014-04-16

News: 2014-04-16

News links for 16 Apr 2014

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Dealing with confirmation bias in macro analysis at market turning points

Dealing with confirmation bias in macro analysis at market turning points

My macro view for most of the global economy is upbeat. My only downbeat views concern deceleration of growth in emerging markets and froth in capital markets. But in the main, market and economic momentum is up and to the right. The natural path is progress. Or at least it has been for the last couple hundred years. In that vein, I see the US in a middling upturn, Europe in an improving recovery and China in a softish landing due to loss socialization. But if you read my daily analysis, it is full of worry and in-depth coverage of downside risks. For some of you, it can be confusing. You’re saying to yourself, “I thought you were upbeat about this.”

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