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Don't Worry About Deleveraging... Says Goldman Sachs

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WHAT, ME? WORRY?
Goldman analysts, led by Jim O’Neil, say the deleveraging cycle is happening but it won’t imperil long-term economic recovery, according to FTA.

"These are very rough `back of the envelope’ estimates. However, taken at face value, they suggest that holding everything else constant, deleveraging could shave about 1-2ppt off growth over the next three years as the US financial system recovers from the crisis, and about 0.5- 1ppt thereafter, as consumption as a share of GDP declines towards its historical average," the Goldman note says.
SOURCE:   FT Alphaville

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