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 five years of business experience. He has also been 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.

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Here are my most recent posts

Some thoughts on Dijsselbloem’s ‘liquor and women’ intervention

Last week, I wrote how the Labour Party in the Netherlands suffered a historic defeat in parliamentary elections because voters questioned their priorities – and how this is emblematic of Western social democratic parties everywhere. And as if to prove my point, Dutch finance minister and Eurogroup leader Jeroen Dijsselbloem has produced an analogy on fiscal spending about ‘liquor and women’ that has outraged many. Let me put his comments in the proper context here to make a wider point about the European Union.

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You should be concerned about falling car prices and Ally’s profit warning

Yesterday, Ally Financial warned that profits would underperform expectations. Now, they dd not say that profits would fall or that they were taking credit writedowns. Neverthless, the warning is an important marker and should be of grave concern. Here’s why.

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Will Brexit’s trigger, now set for 29 March, mean recession?

Will Brexit’s trigger, now set for 29 March, mean recession?

British Prime Minister Theresa May will trigger her country’s exit from the EU on 29 March, a spokesperson for the Prime Minister has confirmed. Afterwards, the clock will be ticking, as the UK will have two years to wind up any negotiations for exit before the country’s membership ends on 29 March 2019 after 46 years. The biggest questions are what this means for the UK economy, the EU economy and whether it is a precedent others will want to follow. Some thoughts below

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This is what the Dutch election was all about

This is what the Dutch election was all about

On Wednesday night, the Dutch elections saw the two parties in the governing coalition lose 37 of the 79 seats they now hold between them. That’s a massive defeat frankly. Yet, the Prime Minister’s party is spinning this as a win. And for some reason, the international press is focusing on the underwhelming gain of the anti-Euro PVV party as if that’s the big takeaway. It isn’t. 

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How jobless claims tick up before a recession hits

How jobless claims tick up before a recession hits

I am going to start commenting on the weekly jobless claims figure more actively because I like it as a real-time indicator. For me, it is the best real-time data point we have on how the employment picture intersects with consumption demand and GDP because it is released every week.

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UK interest rate dissenter signals policy divergence may be coming to an end

As expected, the Bank of England left rates unchanged at a record low 0.25% in today’s Monetary Policy Committee decision. There was a dissent, however, with soon to be departing MPC member Kristin Forbes wanting a quarter-point rise.

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The Fed will continue to raises rates, even amid uneven economic data

The Fed will continue to raises rates, even amid uneven economic data

Today the Federal Reserve raised the base USFed Funds interest rate a quarter percentage point to the range between 0.75% and 1.00%. There was only one dissent from Minneapolis Fed President Neel Kashkari. And because this move was anticipated by everyone, the real question now goes to what comes next.

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The most important chart to see before the Dutch election

The most important chart to see before the Dutch election

The present Prime Minister of the Netherlands, Mark Rutte, is the first Prime Minister from a party other than the two traditional centrist parties, PdVA and the CDA, and their predecessor parties since the Dutch constitution and voting system was fundamentally changed in 1917. Clearly, we are seeing a change in voting patterns

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The shale oil bubble

The shale oil bubble

Was the shale oil capital expenditure explosion simply a bubble? What trendline does this chart follow going forward and what does it mean for price? These are some fundamental questions that need to be answered.

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Hedging against rising global political uncertainty

Hedging against rising global political uncertainty

Starting in 2007, global markets were buffeted by a series of financial and economic crises that created the greatest deflationary scare since the Great Depression. We have left out-and-out crisis mode. But the challenges are still considerable, especially politically.

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More on the oil oversupply and OPEC’s lost swing production dominance

More on the oil oversupply and OPEC’s lost swing production dominance

Bloomberg oil analyst Javier Blas reported earlier today that Saudi Arabia has told OPEC that it lifted oil production in February, despite the ongoing OPEC production cut agreement with Russia.

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US credit growth is decelerating across a variety of areas

US credit growth is decelerating across a variety of areas

This week all eyes will be on the Fed because of its expected interest rate hike and the messaging that will accompany its policy decision. But credit markets should also be focused elsewhere, because credit growth has been decelerating across a wide array of markets for months now. And this trend has not let up in recent months.

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