Goldman Slashes U.S. Growth Forecasts, Sees 9% Jobless Rate by End of 2009

[marmar]

And honestly, I think they're being overly optimistic.


Goldman Slashes U.S. Growth Forecasts, Says Recession Deepens

By Dave Liedtka

Nov. 21 (Bloomberg) -- Goldman Sachs Group Inc. increased its recession estimates, saying gross domestic product is declining at a 5 percent annual rate in the current quarter and will drop 3 percent and 1 percent in the next two quarters.

Unemployment will reach 9 percent by the fourth quarter of 2009, Goldman economists led by Jan Hatzius wrote in a research note today.


http://www.bloomberg.com/apps/news?pid=20601087&sid=a6el6aG0f0oA&refer=home

[enid602]

1. 5%

5%!!! Yikes!!!

[RUMMYisFROSTED]

2. Which really means 15% unemployment.