Welcome to Space

The Space has always been my greatest fascination. The endless dimension where you can let your soul float and your mind wonder about this great secret. This site is for my personal general interests and not limited to Space. The name is a tribute to the wonders of Space. Izzat Sajdi

Wednesday, January 9, 2008

Goldman Sachs says the US is in a recession

This is one of the serious news articles that I read today. It is Goldman Sachs judgement. It might not be correct but such an institution is professioal and the statement will have a number of implications. Goldman Sachs says the US is in a recession

Henry Paulson's old company, Goldman Sachs is yet another high profile, highly successful business that sees a US recession.

"Over the past few months, we have become increasingly concerned that the US housing and credit market downturn would trigger not just a growth slowdown and substantial Fed easing -- our long-standing view -- but also an outright recession," Goldman Sachs said in a note to clients Wednesday. "The latest data suggest that recession has now arrived, or will very shortly."The recent rise in unemployment is particularly worrisome, Goldman indicated.