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%.
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.