The Fed killed Goldilocks

The US business cycle is dead. Or at least that's what a good number of economists believed up until a year ago, just before the stock market bubble burst and pulled new economy enthusiasts kicking and screaming back to reality. The new economy wasn't a fantasy, just not the tectonic shift in the workings of economics and investment many thought was afoot. Now the business cycle of old is back in play and, for that, we may have Alan Greenspan to thank. The Fed has been reducing rates to save the economy from recession and the campaign has been the most aggressive of the Greenspan Fed;...