Gloomy Goldman-Sachs
James Pethokoukis writes, "Goldman Sachs drops this H-bomb on the Obama campaign:
We have lowered our forecast for US real GDP growth further and now expect real GDP to grow just 2%-2½% through the end of 2012. Our forecast for annual average GDP growth has fallen to 1.7% in 2011 (from 1.8%) and to 2.1% in 2012 (from 3.0%). Since this pace is slightly below the US economy’s potential, we now expect the unemployment rate to be at 9¼% by the end of 2012, slightly above the current level.
Even our new forecast is subject to meaningful downside risk.
So, we got that goin’ for us.
~
Dale Franks
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Obama promises ‘things will get better’ on economy
Excuse me, but when can I stop laughing at this fool ?
… but why couldn’t he get his boss to go too ?
Where’s Scott Erb to tell us that the 3.8% growth rate from several quarters back is sustainable? I guess it’s easier to sustain it at 1.7%.
This is definitely gloomy …
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