Goldman Sachs says we’re 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.

An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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