Oh sure, put the government in charge. We saw how well our credentialed and totally expert bureaucracy handled that last one, covid. Wear masks! Social distance! Shut down the economy! Follow the science fiction.

The upside is Red China may fall before we do. Zero Hedge reported, “Fitch May Reassess China’s A+ Credit Rating If Debts Balloon As Economy Falters.”

Of course, this year marks the 20th anniversary of reports of the looming collapse of the Chinese economy. Those doomsayers are in a race with global boiling (as the UN now calls it) to see who can be wrong the most often.

But have no fear. Government printing presses are here. More paper money is all we need. Another trillion should do it.

[Don has a related story about Chief Logan that I’ve never heard before, as well as a helpful reminder of how J. Pierpont Morgan bailed out the US rather than the other way around. It’s a great read from Don, as usual. — Ed]