“The latest data suggest recession has now arrived, or will very shortly.”
– Jan Hatzius, Chief Economist, Goldman Sachs
I made fun of Goldman about 6 weeks ago for upping their recession probability forecast in 2008 from 30% to 40-45%.
Today they stepped up and called for an outright recession.
Markets no likey (Dow -26, S&P -4, Nasdaq -12).