
Goldman Sachs is saying the economy is nearly recession-proof - mrep
https://www.cnbc.com/2019/12/31/goldman-sachs-is-saying-the-economy-is-nearly-recession-proof.html
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redis_mlc
"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.

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masonic
More relevant:

[https://en.wikipedia.org/wiki/Goldman_Sachs#Subprime_mortgag...](https://en.wikipedia.org/wiki/Goldman_Sachs#Subprime_mortgage_crisis:_2007–2008)

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purple-again
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.

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ilaksh
"Structurally less recession-prone".. "none" "seem too concerning" "soft
landing".

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johnebgd
Oh good. Too big to fail now thinks they are too diversified to fail.

This will end well.

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bshipp
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.

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Havoc
In that case...

Brace for impact.

Also China just loosened their bank reserve buffers.

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muro
Pride comes before a fall.

~~~
duelingjello
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.

