Hey Joe!
How about you stop 'Building Back Better', and put it back the way you found it. Then you can tiptoe backwards like the Koolaid Man.
Posted on 06/21/2022 6:23:57 AM PDT by TigerClaws
Goldman Sachs strategists are starting to change their tune on the potential for a U.S. recession.
"We now see recession risk as higher and more front-loaded," Goldman Sachs Chief Economist Jan Hatzius wrote in a new note to clients. "The main reasons are that our baseline growth path is now lower and that we are increasingly concerned that the Fed will feel compelled to respond forcefully to high headline inflation and consumer inflation expectations if energy prices rise further, even if activity slows sharply."
And while Goldman stopped short of saying a recession will occur, maintaining its preview stance, the bank made changes to modeling that speaks volumes on its concerns.
First, Hatzius lifted his recession probability to 30% from 15%. Second, the closely watched economist lowered his GDP outlooks for the balance of this year and 2023.
"With no major imbalances to unwind, a recession caused by moderate over-tightening would most likely be shallow, though even shallower recessions have seen the unemployment rate rise by about 2½pp on average," Hatzius added. "One additional concern this time is that the fiscal and monetary policy response might be more limited than usual."
The investment bank's more cautious tone coincides with rival Deutsche Bank moving forward its call that a recession will happen in 2023. Deutsche Bank is the only Wall Street firm to actually predict a recession for next year. Tesla CEO Elon Musk, meanwhile, warned on Monday in a Bloomberg interview that a recession in the near term was more than likely than not.
The S&P 500 has tanked nearly 23% so far this year, representing its worst start to the year since 1932. Last week alone, the S&P 500 dropped 5.8%, its largest decline since the COVID-19 market meltdown in March 2020.
(Excerpt) Read more at finance.yahoo.com ...
Impossible! I just heard joe totally dismiss any thoughts of a recession.
IOW, IT’S BIGGER THAN WE EXPECTED AND IT’S SOONER THAN WE EXPECTED.......................
Goldman Sachs is sounding like a Republican senator.
Hey Joe!
How about you stop 'Building Back Better', and put it back the way you found it. Then you can tiptoe backwards like the Koolaid Man.
Front-loaded. As in now.
After deflating GDP for inflation, we are in a recession.
BiXiden’s fault.
Oh yeah!…
“Goldman Sachs: ‘We now see recession risk as higher and more front-loaded’”
More STICKING IT TO PUTIN!!!!
Elections have consequences; if it were easy to manage an economy, anyone could do it.
It frankly amazes how quickly the voters forgot what things looked like last time this crowd was in control of the levers of power.
Amazes; does not surprise but amazes.
RECESSION when your neighbor loses his job.DEPRESSION when you lose yours.
They blame capitalism and greed.
Romney didn’t get many things right but the locked in Dem support nearly half the country now. They’ll vote Dem regardless.
Hispanics though are fighting it out.
This quarter has been laughable, after coming in -1.5 GDP last quarter, the Atlanta Fed, which issues weekly GDP quarter estimates started Q2 with the ridiculous estimate that growth in Q2 was going to be 1.9% + or in other words, that there would be a 3.5% + GDP swing from Q1... which was laughable on its face... For the most part they weekly lowered their predictions through the quarter... then last week FINALLY put out the quarter as looking slightly negative -.002 or something like that... today another weekly estimate I believe is due out from them (think they do it every tuesday)... Will be interesting to see what they say...
Of course the powers that be are going to lie cheat and steal and play every game they can with the Q2 official numbers to try to keep it from being negative... because once you have 2 negative quarters of GDP growth you have “OFFICIALLY” reached a “recession”... of course everyone with eyeballs already knows we ARE in a recession, but they are going to do anything they can to try to keep those numbers from being negative at end of quarter if they can so they can keep up the lie that what you are seeing with your own eyes isn’t really whats going on...
The Dementia Puppet and illegitimate administration are still out there lying out there arses trying to tell you we aren’t in one... and if that GDP comes in at 0 or more they will shout it from the rooftops for the next 6 months (because you need 2 straight negative quarters to be “officially” in a recession...
We are in one, everyone knows we are in one, but look for them to play every and any game they can come up with to falsify those numbers...
obama 3.0
Everyday the “experts” are slowly catching up with the rest of the country who knows that we are headed for depression. Once the layoffs start that will be all she wrote.
I heard Joe say the same. And he was really mad that anyone would say a recession is coming.
obama / hitlery / all democrats and rinos / and lamestream media celebrate
“front-loaded” is economist gobbledygook. Yes, “now.”
Jo Jo’s ‘conomy be on fire. You go Brandon!!! Burn the joint down. Your commie massahs (Bonzo and Holder) are lovin’ it. You dare boi. FJB.
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