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Goldman Sachs is saying the economy is nearly recession-proof

• johnebgd 7y ago
  Oh good. Too big to fail now thinks they are too diversified to fail. This will end well.
  • bshipp 7y ago
    Seriously. The last recession was deferred by a massive injection of capital that cut lending costs to almost nothing. The current economy is buoyed by elevated asset prices. If anything, the economy is far more fragile now than it was even 15 years ago, before the 'great recession'. What hubris.
• muro 7y ago
  Pride comes before a fall.
  • duelingjello 7y ago
    Most peopled affiliated with Wall St. brokers, bankers and MBB/Big 4 consulting believe they are masters of the universe and can commit crimes on a massive scale with impunity. The correct and moral response of the people is rise up and overthrow them by any and every means.
• redis_mlc 7y ago
  "Peace for our time." - Prime Minister Neville Chamberlain in 1938 https://en.wikipedia.org/wiki/Peace_for_our_time https://en.wikipedia.org/wiki/Peace_for_our_time That was too easy! :) (My understanding is that although the quote appears to be naive, Britain started preparing for war in a serious manner. The USA also started their build-up at least a year before Pearl Harbor.
  • ilaksh 7y ago
    Right, and just before all of that started we had the Great Depression which was proceeded by the "roaring 20s". Look up what people like Ray Dalio are saying. He says that US entitlements are intractable, global debt is at historic levels that look like 1937, and in one interview he even seemed to imply that he status of the dollar was in question and there could be a global depression and war. He says we are in the giant slump portion of the long term debt cycle.
  • Proven 7y ago
    > The USA also started their build-up at least a year before Pearl Harbor. If so that is because they planned to push Japan into starting a war with the US.
  • masonic 7y ago
    More relevant: https://en.wikipedia.org/wiki/Goldman_Sachs#Subprime_mortgage_crisis:_2007–2008 https://en.wikipedia.org/wiki/Goldman_Sachs#Subprime_mortgag...
• purple-again 7y ago
  This title (article, not HN) seems like complete click bait. Nothing in the body of the article suggests the guys at GS said anything of the kind. I don't have access to the actual report out of GS to verify, but I'm guessing this "recession-proof" nonsense is all coming from the financially illiterate journalist alone. Direct quote from the article: “Overall, the changes underlying the Great Moderation appear intact, and we see the economy as structurally less recession-prone today,” Goldman economists Jan Hatzius and David Mericle wrote. “While new risks could emerge, none of the main sources of recent recessions — oil shocks, inflationary overheating, and financial imbalances — seem too concerning for now. As a result, the prospects for a soft landing look better than widely thought.” They are just refuting the recession hysteria that has been popping up a lot recently, not in anyway stating they believe a recession cant happen.
  • ilaksh 7y ago
    "Structurally less recession-prone".. "none" "seem too concerning" "soft landing".
• Havoc 7y ago
  In that case... Brace for impact. Also China just loosened their bank reserve buffers.