From the mouths of babes.
FYI, the current DOW-gold ratio is around 16 and dropping like a stone.
Posted on 11/27/2007 6:57:14 AM PST by Hydroshock
NEW YORK (MarketWatch) -- Goldman Sachs economists on Tuesday said they now expect the U.S. Federal Open Market Committee to cut interest rates to 3% by mid-2008, down from its earlier forecast of 4%. "The main reason is that the worsening housing downturn has pushed the risk of a U.S. recession in 2008 to 40%-45%, from around 30% previously," Goldman said.
(Excerpt) Read more at marketwatch.com ...
Economy/Credit/Housing Issues Ping List
If you want on of off this list let me know.
So it’s still less than 50%, cool.
And the Goldman people seem to know what they are doing.
Can Goldman now start resuming their generous donations to the DNC candidates?
YES!!!! Leave partisan politics out of this and do what is right for America and our allies!
Depends on whether H! is elected POTUS or not.
Way to ruin a perfectly good doom and gloom story.
did you forget your /s tag ?
"If recession should threaten serious consequences for business (as is not indicated at present) there is little doubt that the Federal Reserve System would take steps to ease the money market and so check the movement."
---Harvard Economic Society, October 19, 1929
“Several brokerage houses tumbled; blue-sky investment companies formed during the happy bull market days went to smash, disclosing miserable tales of rascality; over a thousand banks caved in during 1930, as a result of marking down both of real estate and of securities; and in December occurred the largest bank failure in American financial history, the fall of the ill-named Bank of the United States in New York.”
~~Only Yesterday: An Informal History of the 1920’s by Fredrick Lewis Allen
"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved."
~~Ludwig von Mises
Nope. The permatouts have to keep a good face on. All of their rosy forecasts are meant for the rubes, to keep them from panicking. A year ago, they were saying real estate was just fine. They'd say the Titanic had only a 40% chance of sinking when it was halfway to the bottom.
What is this obsession with the word ‘recession’? So the economy has negative growth for a quarter or two. Big deal. It’s called the business cycle. Jeesh!
Had the misfortune of sitting in a Dr’s office the other day and CNN was on the tube. Recession this. Recession that. I thought I was here on FR for a minute b/c the “news” readers were all so giddy about it like you guys
Why should I take the word of a company that couldn’t see the mess that THEY were making? They have no credibility at all.
LLS
In his opinion, based on trends he has seen over the last few months, we have already entered a recession.
Not that lower rate wouldn't be good, but GS is just blowing hot air
Nope.
Actually, the US President works for Goldman Sachs. That's the only way everything we've seen adds up. ;)
What are you talking about, I was called a doom and gloomer and told credit and real estate are unimportant YESTERDAY.
FR has a good share of superstar economists that are only able to look at a small piece of economic news - say, Black Friday spending, ignore the big and growing pieces that are obviously faltering and declare that it's all sunshine and lollipops.
No, I'm not out there declaring the sky falling, but the picture isn't entirely rosey. If the people behind the wheel aren't careful, it will be doom and gloom.
From the mouths of babes.
FYI, the current DOW-gold ratio is around 16 and dropping like a stone.
To update the chart, run gold up to over $800, and the dollar down to 75.
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