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Goldman Says 2012 Is the New 2008
Just four years after the Great Recession, Goldman Sachs says we could be heading for a repeat next year with a different cast of characters but an equally scary ending. If Goldman is right, the global economy could suffer another epochal battering in 2012, with the EU playing the role of the U.S., sovereign European default, the new Lehman Brothers and another damaging oil price spike. Since the summer, Goldman says several important economic indicators have mimicked the circumstances in the second half of 2007, which was the build-up to the Great Recession. Back then a major developed economy was sliding into ... (full story)
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