...the very same Goldman which last week announced it no longer expects the S&P to retest the lows and pulled its S&P to 2,000 base case while predicting that stocks will surge to 3,000, which would make forward PE multiples just shy of a bizarro-world 30x, now forecasts S&P 500 cash spending will decline by an annual record 33% during 2020 as firms prioritize liquidity in a worsening economic environment.
Additionally, Goldman which late last year said that the US is now recession proof and predicted a surge in capital spending, now expects that Capex will decline by 27%, R&D by 9%, and cash acquisition spending by 49%, leading to a 26% plunge in investment for growth, which means a collapse of money in circulation...
So I guess Goldie learned how to hedge.
Nonetheless, it's interesting, and if it materializes as they expect, this will be a truly horrible year--no thanks to the likes of Tony Evers who has never missed a paycheck in 20+ years.
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