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The chairman of Goldman Sachs Asset Management has said that the need for a German-led fiscal integration in the eurozone would make it increasingly unattractive for all the countries who joined to stay in the single currency. Jim O’Neill, whose division manages more than $800bn (£500bn) of assets, said that countries as diverse as Portugal, Ireland, Finland and Greece could pull out of the single currency rather than have to operate under a single eurozone treasury. Yesterday, Angela Merkel, the German chancellor, said the market turmoil could last for a decade and there was still “a chunk of work” to...

Goldman's Jim O'Neill: 'What Is The Matter With Everyone?' Sam Ro That's the question Jim O'Neill poses in his weekly letter, which is sarcastically titled Let's Worry About Everything. O'Neill, who is the reason why we say BRICs, argues that last week's economic and corporate news was "benign" and that the market selloff seemed uncalled for: Judging by the price action, market participants seem to be increasingly convinced of imminent recessions in Europe and the US as well as a prolonged period of “Japanisation,” in which positive GDP growth struggles to keep ahead of a weaker underlying growth trend. If...

“I know not what course others may take; but as for me, give me liberty or give me death!”—Patrick Henry (1736-1799) I’ve heard people compare the Obama Administration to Jimmy Carter’s, Bubba Clinton’s, and even Richard Nixon’s. I was around for all of those administrations, and I’m here to tell you that such comparisons are, in a word, bull… nonsense. None of those other administrations can hold a candle to Obama’s “Hype and Chains” regime. [snip] Only the most dedicated kool-aid drinkers, and willfully ignorant, can deny that we’re at the end-game of a global plan to forcefully separate humanity...

'Euro won't disintegrate': Goldman Sachs economist reassures markets 18.05.10 The euro today collapsed to a four-year low at one stage, but Goldman Sachs' top economist Jim O'Neill said it was “ridiculous” to suggest the single currency area was about to disintegrate. Although the currency rallied against the dollar from this morning's $1.2235 low, it remains badly weakened, down nearly 7% this month alone, and 14% down so far this year. But O'Neill, famed for spotting first the combined might of the new economic powerhouses of Brazil, Russia, India and China, which he dubbed the Bric economies, said the idea of...

Jim O'Neill Mea Culpa: "Hey I Was Dead Wrong On The Whole Yuan Thing, But... Hey Look Over There, Stocks Are Up" Submitted by Tyler Durden on 03/18/2010 22:44 -0500 Permabull Jim O'Neill of Goldman Sachs surprises everyone by issuing yet another missive after being dead wrong on the Renminbi a month ago, and very vocally so. The surprise is not in his persistent frothiness (the man is a singularly male version of an undoubtedly female A. Joseph Cohen after all), or his attempt at mea culpa'ing (we wonder what sport instrument Roach would recommend using on Mr. O'Neill), but...

November 23, 2009 Globetrotting puts 'official' figures into perspective One constant surprise for me is the emotional state of the discussions I encounter about the health of the UK economy Jim O’Neill For much of the period since the end of the summer, I have been travelling around the world for my exciting but demanding job. I have been to Brazil, China, twice, once on a very long trip, Hong Kong, Singapore, Turkey and to many places in Europe. One constant surprise for me is the emotional state of the discussions I encounter about the health of the UK economy....