Goldman Sachs and Good News for the Economy?

Today Don't Look So Good, Tomorrow Neither

A 54 page Goldman Sachs report on the world economic prospects has been given to the Wall Street Journal, and it can be summarized like this.



Cover of the Goldman Report

 



In a 54-page report sent to hundreds of Goldman's institutional clients dated Aug. 16, Alan Brazil—a Goldman strategist who sits on the firm's trading desk—argued that as much as $1 trillion in capital may be needed to shore up European banks; that small businesses in the U.S., a past driver of job production, are still languishing; and that China's growth may not be sustainable.

Well that ought to cheer up the markets.