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.”
