Goldman's $2 Billion Stock Market Loss, Jailed For Reporting The Economy, Real Retail Sales Negative

Goldman's $2 Billion Stock Market Loss, Jailed For Reporting On The Economy, More CPI Lies, Real Retail Sales Go Negative
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The narrative is we’ve probably hit peak inflation. But the producer price data tells a different story. The Producer Price Index (PPI) was up 1.4% month-on-month. On an annual basis, producer prices rose 11.2%. Both numbers were higher than expected and set all-time records.
the retail sales data is nominal, meaning not adjusted for inflation, The two data series are not weighted the same by product but we get a more realistic idea of actual retail sales by reducing the headline data by CPI… The result is the retail sales were negative for the second straight month.
after a very disappointing Q3 which saw a $820 million loss from the trade of public equities, and a similarly disappointing Q4 where the trade of public stocks led to another loss, this one for $500 million. In Q1 we have seen a continuation in underperformance, with the bank reporting that net revenues in "Asset Management" cratered 88% from a year ago to just $546 million, down from $4.6 billion a year ago.Show more

According to Goldman for the third quarter in a row, "equity investments net losses reflected significant mark-to-market net losses from investments in public equities."
Goldman further breaks down the equity revenue, and notes that whereas investments in private equity brought in a paltry $255 in Q3, down massively from the massive $2.78 billion profit a year ago, public equities actually led to a $500 million loss in Q3, the third consecutive loss in a row!