It is the 19th of October 2019

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97 Million American Workers Are Living Paycheck To Paycheck

As we’ve noted time and time again, the number of Americans scraping by with almost no money in their savings account (if they even have a savings account) is staggeringly high - and growing.

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Is Trump Irrelevant?

Those who had lauded the expansion of executive powers when Barack Obama was president perhaps now see the dangers of an imperial presidency with Donald Trump as president. It doesn’t matter if you are Republican or Democrat, conservative or liberal, because we all know what Lord Acton said about the corrupting influence of power.

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Goldman Slashes Q3 GDP By 30% Due To Hurricane Disaster

Yesterday, when commenting on the impact of Hurricanes Harvey and Irma, we noted that even before the two devastating storms were set to punish Texas, Florida and the broader economy, erasing at least 0.4% GDP from Q3 GDP according to BofA and costing hundreds of billions in damages (contrary to the best broken window fallacy, the lost invested capital more than offsets the "flow" benefits from new spending, which is why the US does not bomb itself every time there is a recession to "stimulate growth"), things were turning south for the US economy, which in turn prompted Deutsche Bank to point out that (adjusted) recession risk, at roughly 20%, is now the highest in the past decade, and that it was quite prudent for the Fed, which expects to hike rates at least once more in 2017, to pause its current tightening, especially since a period of both economic and market weakness is imminent.

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Goldman Slashes Q3 GDP By 30% Due To Hurricane Disaster

Yesterday, when commenting on the impact of Hurricanes Harvey and Irma, we noted that even before the two devastating storms were set to punish Texas, Florida and the broader economy, erasing at least 0.4% GDP from Q3 GDP according to BofA and costing hundreds of billions in damages (contrary to the best broken window fallacy, the lost invested capital more than offsets the "flow" benefits from new spending, which is why the US does not bomb itself every time there is a recession to "stimulate growth"), things were turning south for the US economy, which in turn prompted Deutsche Bank to point out that (adjusted) recession risk, at roughly 20%, is now the highest in the past decade, and that it was quite prudent for the Fed, which expects to hike rates at least once more in 2017, to pause its current tightening, especially since a period of both economic and market weakness is imminent.

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7 Reasons Why Goldman's Clients Are Very Worried About An Imminent Crash

Over the years, the clients of Goldman Sachs have periodically found themselves on the verge of panic.

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