On Thursday the Wall Street Journal reported on a doom-laden research note by Goldman Sachs strategist Alan Brazil sent on August 16 to hedge fund clients.
Unfortunately it didn’t share the report, but Zero Hedge has acquired a copy and it makes for interesting reading, even if it’s not quite the PowerPoint equivalent of the Book of Revelations.
Click through for the full slide deck:
It’s worth remembering that putting together bespoke research is part of a strategist’s job, despite the potential for it to create discrepancies between different parts of the shop. This is not ideal, of course, but sell side research should always be treated with care.
We’ve highlighted a few of the most revealing slides, covering the US, Europe and, interestingly, China. None of the individual charts are especially new but put together, they tell a story that may be somewhat familiar to FT Alphaville readers.
A macro view:
Chinese non-performing loans:
Wonder what Jim O’Neill makes of all this?
Contingency planning in six charts – FT Alphaville