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

Ukraine, US subprime and the erosion of US financial hegemony

Ukraine, US subprime and the erosion of US financial hegemony

Ukraine will have global impact
More sanctions are coming but will be somewhat limited
The global financial system is moving away from the US
US auto subprime is going to blow up

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Links: 2014-07-22

News links for 22 Jul 2014

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Some brief thoughts on framing the war in Ukraine

As the war in Ukraine moves to the center of global consciousness, I think it is important to remember the various actors’ positioning, constraints and likely agendas. As much as we would like to know ‘the truth’, the reality is always that beyond a core set of known facts, any situation is subject to interpretation based on positioning, constraints and agendas. And to the degree these factors make for focus on very different sets of data points, it makes it hard to reach common ground in a negotiated agreement.

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The political economy of the military conflict in Ukraine

The political economy of the military conflict in Ukraine

The geopolitical situation regarding the conflict in Ukraine has escalated considerably due to the downing of a passenger jet from the Netherlands to Malaysia. Given the visceral and gruesome nature of the events now unfolding, domestic political opinion throughout the West is now a major force in this conflict. However, given the political economy in Russia and the United States in particular, the potential for de-escalation is small. The potential for the conflict to now have wide-reaching economic impacts has grown. In the analysis below I explain how the political economy in the U.S. favours President Obama taking an increasingly hawkish position and how the political economy in Russia favours President Putin also maintaining an aggressive stance regarding Ukraine. In addition, the airline massacre also means that the EU will be galvanized into supporting tougher sanctions against Russia, with the potential of a tit-for-tat response.

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Links: 2014-07-21

Links: 2014-07-21

News links for 21 Jul 2014

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Exogenous shocks

Exogenous shocks

As I write this, Twitter is going berserk with news of Malaysian Airlines Flight 17 from Amsterdam to Kuala Lumpur with 280 passengers and 15 crew having gone down in Ukrainian airspace. There is video and photo footage of the wreckage. And my heart goes out to friends and family of those onboard because they are learning about the tragedy […]

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Links: 2014-07-17

Links: 2014-07-17

How Russian Hackers Stole the Nasdaq – Businessweek Here’s why your Comcast rep is yelling at you | The Verge Popular Bitcoin Mining Pool Promises To Restrict Its Compute Power To Prevent Feared Fiasco | TechCrunch Netflix to FCC: reclassify Comcast and Verizon so they can’t choke the internet As more cheap Android handsets flood the market, Google Play app […]

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More on how loss socialization actually happens

More on how loss socialization actually happens

Michael Pettis has a good piece on debt and credit that I ran on the blog this morning. His thoughts on loss socialization are important not just in the context of China but also of other markets like Europe, the US, Canada and Australia where private debt levels have increased markedly. Some of this has resulted in phantom growth which […]

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Why the European sovereign debt crisis is not over

Why the European sovereign debt crisis is not over

Earlier today, I had an interesting back and forth on Twitter with Edward Hugh, Claus Vistesen and Matthew Lynn about Europe and the ECB. I think we all believe there is more pain to come for Europe and likely there will be writedowns. But I think a lot of the problem has to do with the flawed institutional architecture and […]

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Links: 2014-07-15

Links: 2014-07-15

Miami, the great world city, is drowning while the powers that be look away | World news | The Observer UK wages can’t rise unless we solve the productivity puzzle | Business | theguardian.com The Good, the Bad and the Ugly | Capital City | IFRe A Day in the Life of a Chinese Worker in Iraq – Jean-Claude Juncker […]

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How economics deals with an overindebted private sector

How economics deals with an overindebted private sector

Happy post-World Cup to you all. I missed my Friday catch-all post because I was out sick. So I am going to play catch-up today with a few thoughts on various topics. The BIS Let’s start with the BIS. In general, I defend the BIS view because the BIS is rightly focused on the dangers of over-indebtedness. Gavyn Davies has […]

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Links: 2014-07-14

Links: 2014-07-14

Thirty links today instead of twenty The Password Is Finally Dying. Here’s Mine – WSJ Bank for International Settlements fears fresh Lehman crisis from worldwide debt surge – Telegraph Euro-Zone Industrial Production Slumped in May – WSJ A farewell to trust: Obama’s Germany syndrome – FT.com Bruised and grumbling, foreign banks bend to US rules | Capital City | IFRe […]

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