Goldman Sachs says relax: Global growth is still on track

The risk of a major slowdown to the German and Chinese economies are overblown and global risk assets still look attractive, according to economists at Goldman Sachs.

"For one thing the German manufacturing index was an outlier among European PMIs , in particular the service sector readings looked fine in Germany and elsewhere in the euro area." Hatzius and Stehn were particularly bullish on the United States' prospects. While Goldman forecasts U.S. real GDP for the first quarter to be just 0.7 percent, it then predicts a big jump back to 3 percent for the second quarter.

Then short stocks. Goldman Sachs has a near perfect record of misses.

Tell Goldman to save its own stock first...

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