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Goldman Sachs forecasts euro-zone recession

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posted on Oct, 4 2011 @ 02:25 AM

LONDON (MarketWatch) -- Goldman Sachs on Tuesday cut its forecast for global growth in 2012 and said it now expects the euro zone to sink into a "mild" recession. The broker said its global growth forecast has been cut to 3.5% in 2012 from 4.2% and that euro-zone growth in the same year is now expected to be 0.1%, compared to its prior forecast of 1.2%. The euro zone is likely to fall into recession in the fourth quarter of 2011 and the first quarter of 2012, with a 0.1% quarter-on-quarter contraction in both those periods. "The uncertainty around these forecasts is substantial, largely hinging on the progress of credible solutions to the euro zone's funding problems," Goldman Sachs said.

1st - Oh everything's all right, we're doing great. It's a great recovery!
2nd - Oh, there may be a little problems, the recovery will just take a little bit longer now.
3rd - Eh, it's not doing so hot at the moment, but dont worry, there definantly wont be a recession!
4th - Okay, now it looks like there's a chance of a recession, but it's not too likely.
5th - Recession Incoming!!!

All in a span of just a few months....
edit on 4-10-2011 by buni11687 because: (no reason given)

ETA - With the pin-point accuracy of the 'expert' forecasters out there recently, who wants to guess their 'mild recession' will go.........mild ---> eh, a little worse than thought but wont get too bad ----> its bad now, but not too bad, recovery right around the corner ----> holy cow! this is catastrophe!!!!
edit on 4-10-2011 by buni11687 because: (no reason given)

posted on Oct, 4 2011 @ 02:28 AM

edit on 4-10-2011 by redstorm because: (no reason given)

posted on Oct, 4 2011 @ 02:32 AM
reply to post by buni11687

wow goldman sachs, that must of been a real hard forecast to work out..especially considering you choose what happens to anything even slightly financial
how come they wont forcast past the immediate future? be funny when they forecast that the whole world is in debt and owned by the banks
but i guess they wont say it like that
edit on 4-10-2011 by UniverSoul because: (no reason given)

posted on Oct, 4 2011 @ 02:54 AM
*sharpens his pitchfork*

just say When
edit on 4-10-2011 by jazzguy because: (no reason given)

posted on Oct, 4 2011 @ 04:28 AM
What kind of forecast is this when everybody sees it?
Do they forecast they'll be hanged for all this?

posted on Oct, 4 2011 @ 04:48 AM
All this fudging does is make me cross and a little honesty would be very welcome about now as the constant BS is very wearing. I am not sure what they expected to happen given that they've made no attempt to nurture growth, new wealth or jobs..

posted on Oct, 4 2011 @ 04:52 AM
Well just my two cents, but I can't forsee a Recession happening until at very minumum, 2nd quarter of the next fiscal year.

4th quarter is payday all around.

I doubt that it will happen that fast, but it is likely that by end of 3rd quarter (this time next year) there will be a major gobal recession. It's almost inescapable, and alot of people want that to happen, because they know how to make money in down markets (they have had alot of practice lately).

Everyone issaying that the solution is growth and increased consumption (virus economics).
It's not though, the only way I see is stabalizing global trade through reduced taxes tariffs and duties, and freezing debts and interest across the board (of course there would have to be ammenities to paying down the debts, and it would have to be equal for all nations).

Like cutting up a shopoholics creditcard, and putting them on a payment plan.

The problem is that too many people will get rich in a global recession, sounds rediculous but it's true.
The funny thing is that they will do this to the point of complete collapse and beyond, because that is the way the markets are designed.
Profit without accountability.

posted on Oct, 4 2011 @ 10:41 AM
Goldman Sachs tend to know whats doing, as they cause alot of the problems. Them saying that could be a self fulfilling prophecy due to confidence lost.

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