Commentary
When we hear President Joe Biden name-dropping that “I was talking to Larry Summers this morning and there’s nothing inevitable about a recession,” it might as well be Napoleon announcing to the assembled La Grande Armée that he was talking this morning to Armand de Caulaincourt, the famously close adviser who warned of the folly of invading Russia, and that “there’s nothing inevitable about a half million of you freezing or starving to death over the next month and a half.”
Biden is as stubborn in continuing the disastrous policies that are catapulting the country to devastating stagflation as “le petit caporal” was in believing in 1812 that his ill-prepared forces could subdue the Russian bear in its native stomping ground….