KEY POINTS
- Goldman Sachs expects aggressive duties from the White House to raise inflation and unemployment and drag economic growth to a near-standstill.
- In a note Sunday, the firm said “we continue to believe the risk from April 2 tariffs is greater than many market participants have previously assumed.”
- The firm raised its forecast for inflation this year to 3.5%, cut its GDP outlook to just 1% and raised its unemployment view to 4.5%.
Translation: hey rich customers, fire sale and reason to lay off your highest-paid employees incoming!
Remember, they and the people who listen to them wanted this.
That only works if you are expecting a rebound… the way Trump is going about this, who the hell would trust a single word of a trade deal with USA?
People who want money or resources. You have to remember though, these aren’t the brilliant businessmen they think they are.
Most of these rich people are rich through family and luck, and believe they have magical powers to resurrect businesses and economies with a snap of their fingers.
They think they’ll just put everything back together with them at the top. They really have no idea how they’ll do that, of course.
Those same people do not want the carpet pulled from under them on a whim
Anybfitire deal with the USA will have that risk priced in and not likely to ve as favorable as whatever was there before. This is exactly why third world countries have a hard time attacking investment and when they do, they basically get gangbanged
They don’t understand just how bad it’s going to get. It’s going to make 1929 look like playtime.
Yeah, but 1929 was actually fine for the richest families. Plenty of wealthy people got even richer.
You’ll notice the language in that article describing the success of the businessmen is stock-market-bro speak for ‘gobbled up businesses for pennies on the dollar thanks to the depression, then rode out the storm and made bank’.
Lots of guys on the market these days dreaming of building empires that way.
Notice I said worse than 1929. Regardless we are both just speculating at this point.
You seem to just want to win a non-existent argument, so you win.