Big Gubmint

Scuttlebutt around here is that the president has manifested some sort of excess meddling in business, markets and government.  I'm not suggesting what we've grown accustomed to witnessing in other more authoritarian regimes such as Russia and Communist Red China; but more meddlesome than what some may consider a classic laissez-faire, free market perspective. 

Consider that the president fired Erika McEntarfer, commissioner of the Bureau of Labor Statistics, earlier this month after big downward revisions to jobs data.  Similarly, he ordered Goldman Sachs to fire an economist, Intel to fire its CEO, demanded a government ownership interest in Nippon Steel's acquisition of US Steel, demanded a 15% cut of AI chip sales to China.  Invested a total of $11.1 billion in chip manufacturer Intel for a 9.9% stake.  And shook down most of our trade partners to pledge billions of dollars of investment in negotiating export taxes.  

Compounding this our tariff policy has become a tool wielded at the sole discretion of the executive branch and varies haphazardly by country, product and fit of pique.  It's manic.

By all outward appearances you'd think that we've become a hybrid of Soviet-style centralized state-run economics. 

I would argue no; not yet anyway.

Government has a long and storied history of embedding itself in business and all things economic; even in a capitalist economy such as ours.  Until Obama rolled-around we legislated restrictions on crude oil exports.  We've instituted wage and price controls and interfered with the regulation of banks and savings and loans at our own peril.  

Farm policy pays farmers to grow and not to grow.  We've subsidized ethanol production and green energy technologies. Congress legislated how many gallons per flush and never consulted a plumber.  They also instituted TARP to bail out banks, automakers and organized labor. 

Furthermore, agencies like Freddie Mac and Fannie Mae artificially impact mortgage rates distorting the housing market.  Similarly, Biden pushed to forgive student loans.  Once upon a time we took an ownership interest in a civilian passenger liner.

I could go on, but I think you get my drift.

On the happen chance you believe I support this; I do not.  I'm disinclined to political busybodies interfering in free markets.  Nevertheless, I expect the president is going to continue to pick winners and losers.  Every day is an opportunity to discover he got up on the wrong side of the bed and you, your business or country may join the ranks of losers.  

All of my previously self-identified libertarian acquaintances have suddenly gone deaf and dumb.  And I continue to have a tough time figuring-out how any of this advances your and my prosperity and general lot in life.  And is the world a safer place? Yet?