Goldman Sach's unofficial "semi-secret" report

According to the WSJ, on August 19, Goldman Sachs sent a confidential, 54-page report to hedge fund clients. In a nutshell, they warn of the following:

• European banks need $1 trillion of capital (bailout)
• US small businesses are still sucking wind (and they're the ones that create jobs)
• China's growth is probably not sustainable
• Solving a debt problem (ours) with more debt doesn't work

GS analyst Alan Brazil recommends ways to "play" this debacle:

• Buy a six-month put option on the Euro versus the Swiss Franc, thus betting the Euro will drop against the Franc (the Franc being the currency that an official Goldman report recently referred to as the most overvalued in the world)
• Buy a five-year credit default swap on an index of European corporate debt--the iTraxx 9. This is a bet that some of these companies will default, and your insurance policy, the CDS, will pay off

https://online.wsj.com/article/SB100014240531119038959045765427035877845...