Right now, Goldman Sachs’ Jan Hatzius is speaking on a panel and just told the audience there are only two economic scenarios for the U.S. right now: bad and very bad.Those scenarios are summed up as followed (via Jim Pethokoukis):
Bad: 1-2% GDP growth and an increase to 10% unemployment
Very Bad: Double-dip recession, based on Bush tax cut expiring and declining home prices
Goldman Sachs put together as presentation explaining their new bearish view on the economy, and it doesn’t make for easy reading. But if you want an understanding of the the terrible scenarios they’ve envisioned, check it out here.