When it comes to dumbing down economics, present day Washington is in a league all by itself. Just in the last week Sleepy Joe—the purported tribune of the average guy—-reappointed the most pro-rich Fed Chairman to ever hold the job and then did a King Canute on oil prices, while not getting that he was the joke.
Recall, King Canute shouted at the sea to recede in order to convince his underlyings that he wasn’t actually all powerful. By contrast, Biden shouted out that 50 million barrels of America’s strategic petroleum storage oil should surge into the global economy over the next five months, during which time about 15 billion barrels of oil will flow through world markets.
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