Just how bad has the economic illiteracy of the federal government become?
Last year we were told the economy is just a big engine that can be turned off and on by politicians, as the feds paid people to not work and public health officials – of all people – decreed what jobs were "non-essential."
Now, with a labor and supply chain crises as a result of failed central planning, where will the government turn – admitting it can't plan its way out of a wet paper bag and letting an unfathomably complex market of voluntary human interactions get back to creating emergent order from chaos?
No. Instead, Joe Biden will ask Walmart to increase output.
Econ 101 according to President Joe "Camacho" Biden: Walmart executives run the economy from a big switchboard where they turn a big knob marked "Supply Chain Output."
How about energy prices, with the feds warning winter heating costs could rise as much as 50%? Maybe this is a good time to reverse course on Biden's moritorium on oil and gas leases on federal lands?
No, its time to turn down the record player, pick up the rotary phone, and call the CEO of Energy Prices to ask for a special deal for ol' Joe.
The White House appears to think oil and gas CEOs personally set prices of energy itself.
At moments like this, it's hard not to see the film Idiocracy as prescient, so enjoy a glimpse of the next State of the Union: