-
Morgan Stanley Joins Goldman, JPM In Predicting A Depressionary Crash; Expects Q2 US GDP To Plunge 30%
First it was Goldman cutting its Q2 GDP to -5% just one week ago; then JPM quickly upstaged Goldman by slashing its own Q2 GDP forecast to -14%. Then Goldman, which just last December said the US economy is "nearly recession-proof" decided to really show JPM who is boss and nearly doubled this dismal prediction, and on Friday predicted a great depression-like -24% crash in Q2 GDP. And now, in this race to come up with the most apocalyptic GDP number imaginable, here comes Morgan Stanley which expanded its former Q2 GDP -4% prediction nearly 8x to -30%, a number that would have seemed almost insane in ... (full story)
- Comments
- Subscribe
- Comment #1
- Quote
- Mar 22, 2020 10:30pm Mar 22, 2020 10:30pm
- Yao
- | Joined Aug 2011 | Status: Member | 669 Comments
- Comment #2
- Quote
- Mar 22, 2020 11:12pm Mar 22, 2020 11:12pm
- cogs
- | Joined Jul 2010 | Status: Member | 221 Comments
My comments are not to be taken as trading advice, not a financial advisor
- Comment #3
- Quote
- Mar 23, 2020 7:25am Mar 23, 2020 7:25am
- Not-KPMG
- Joined Jun 2015 | Status: Member | 7592 Comments
Beware of robber banks (RB), bad advisors.