Goldilocks is dying

Project Syndicate/Noriel Roubini

Repost from 9-27-2021

artist rendering of Goldilocks fleeing the home of the three bears“Given today’s high debt ratios, supply-side risks, and ultra-loose monetary and fiscal policies, the rosy scenario that is currently priced into financial markets may turn out to be a pipe dream. Over the medium term, a variety of persistent negative supply shocks could turn today’s mild stagflation into a severe case.”

USAGOLD note: There is always a comeuppance. The bear inevitably shows up. Overstepping Goldilocks sooner or later is sent fleeing for the safety of the nearby woods. “Rather than fixating on Goldilocks,” says Roubini, “economic observers should remember Cassandra, whose warnings were ignored until it was too late.”


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