Central planners the world over disdain the free exchange of goods and services. They believe they can better shape the world around them according to their wishes. This fatal conceit compels them to intervene in destructive ways.
Some central planners, like Fed Chair Jay Powell, think they’re saving the world economy by cranking up the printing press. Others, like AOC, could care less about the economy…so long as they can mediate the redistribution of wealth more to their liking.
The mess wrought by extreme government intervention has been magnified by coronavirus. The central planners took a bad situation and made it dramatically worse. They destroyed the economy so they could ‘build back batter.’
First the shutdown was ordered to flatten the curve, resulting in over 33.5 million new claims for unemployment in just seven weeks. Then the big bailouts of big business were rolled out to counteract the breakdown of financial markets. Token checks were also sent out to the broad populace. And that’s just the beginning.
Central planners, no doubt, love this kind of stuff. They find meaning and purpose in it. What’s more, it makes them feel smart…especially when they can use fake models and fake science to support their decrees…
Guided by Garbage
On March 18, British epidemiologist Neil Ferguson and his cohorts at Imperial College in the United Kingdom used scientific models to project 2.2 million deaths in the United States from coronavirus. The central planners took these