Goldilocks, R.I.P. (Part 1)

One of Wall Street’s most misbegotten memes is the Goldilocks Economy notion. They invariably trot her out near the end of a business cycle in order to keep the mullets buying stocks and the Fed heads as anesthetized as possible. The theory, of course, is that with the economy in a perfect and endless growth equilibrium, punters should be eager to […]