Threads in the news:
US: In the US, the end of the Fed's tapering program is dominating headlines along with the NSA spying scandal. Frances Coppola has some pointed comments on this that I largely agree with. Take a look at that post just previous to this one. Interestingly, Paul Krugman also has a good take on the market's reaction to Bernanke that I will cover shortly. I think he gets the reaction right irrespective of whether you believe QE is good policy, which he does and I don't.
Snowden has left Hong Kong, where the government says it did not know his US passport had been revoked. He flew a commercial flight to Russia where he is looking to make it to Ecuador via Cuba and/or Venezuela.
Europe: Good article on the bank capital issue by Wolfgang Munchau which points to a major eco...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. 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.