Postcards: “The System Is Broken” Say the Bureaucrats That Broke It
It worked in Russia... but now we display the American version of praising your ability to run an economy into the ground over the long term.
The National Economic Council issued a riveting paper this week telling the world that they are doing a good job and that their ideas are terrific for the nation.
Hey, I guess it worked for leaders of the Soviet Union, at least for a little while.
The National Economic Council, headed by climate zealot and former central banker Lael Brainard, and the Council of Economic Advisers, headed by someone with a Ph.D. in social welfare, released a report praising themselves and their support for massive levels of spending on infrastructure, the Green Energy transition, and domestic semiconductor manufacturing.
Hurrah. Hurrah. Hurrah.
It’s a classic case of politicians and government workers praising dirigisme as a practical approach to the economy.
When a government tries to do too much, like a jack-of-all-trades, it becomes a master of nothing. We’re on a march to $50 trillion in debt by 2032, with hundreds of trillions in other unfunded liabilities.
Tack on this basic issue. It will take years of…
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