‘Lower Quality Economic Participants’

What to do when you aren't sure whether the economy's headed for a "soft landing" or a "no landing"? Well, grab a barbell, of course! With some defensive exposure. You know, just in case. That's the (ad nauseam) message from Morgan Stanley's Mike Wilson who, like everyone else, has seemingly run out of creative ways to say the same thing every week. (I sympathize, Mike. The saving grace for me is that I'm not confined to writing about US equities.) Wilson's fond of suggesting (not implausibly