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.
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| 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.
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