Goldman Sachs: Downbeat

November 21st, 2008 9:12 am | by John Jansen |

Goldman Sachs sees the unemployment rate reaching 9 percent and thinks that in the current quarter GDP is contracting at 5% annual rate.

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  1. 8 Responses to “Goldman Sachs: Downbeat”

  2. By Dr.Dan on Nov 21, 2008 | Reply

    Isnt this most bearish of forecasts we have had oflate ?

  3. By John Jansen on Nov 21, 2008 | Reply

    i think so. I am not sure on the unemployment side but the current quarter GDP at -5 is as steep as I have seen.

  4. By Stuart on Nov 21, 2008 | Reply

    Right!. Like Goldman Sachs has had a stellar record of forecasting.

  5. By djt on Nov 21, 2008 | Reply

    some of that $200 oil would be fun right now

  6. By John Jansen on Nov 21, 2008 | Reply

    oh ye of little faith!!

  7. By Michael Krause on Nov 21, 2008 | Reply

    Well …

    The equity markets are acting as if we are going to have -20% GDP for the next year.

  8. By RNT on Nov 21, 2008 | Reply

    Why does it seem that sometimes GS forecasts are more focused on being outliers, even if that means being inaccurate.

  9. By Chris on Nov 22, 2008 | Reply

    Heh re : “Like Goldman Sachs has had a stellar record of forecasting.”

    As I recall Hatzius has been rather ahead of the curve as far as economic forecasting. Of course he did not predict his own firm’s troubles. But that only serves to validate his status as a tragic hero.

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