GOLDMAN SACHS recently released their very own New Year message of “HOPE” with the forecast rising from “despair”. It seems to me they don’t really care, they make money anyway.
The Goldman Boys are now strategically placed to determine the economic future. President of the European Central Bank, Mario Draghi, just pulled a neat Christmas bonus whereby 500+ Euro banks help themselves to cheap funds totalling a half TRILLION euros and then banks turn round and put the money BACK IN the European Central Bank. WHAT IS THIS ALL ABOUT ????? Is this Goldman Sachs master plan for the future, keep printing money and everyone that touches it gets rich ?
Goldman expects the Footsie to hit a low of 4700 before staging a gradual recovery in the second half of the year – but all bets are off if the euro falls apart. The bank says: “Our economic forecasts assume some resolution to the eurozone debt crisis in the next few months. But the chances of a more chaotic outcome, in particular a break-up of the euro, although still small, have grown.”
Goldman’s economists expect eurozone GDP to contract by 0.8% in 2012, with a short-lived recession in Germany and France, and a longer and much deeper one in the peripheral eurozone countries. “But if a political breakthrough is not achieved before the refunding cycle picks up in earnest in mid-January, the probability of [the European economy] spiralling out of control towards a break-up would substantially increase,” it said.
AND A HAPPY, “RENEWABLE” NEW YEAR TO YOU TOO !