Do we need to give prospective presidents an economic literacy test? There’s little doubt that, judging by this tweet, Joe Biden would get an “F.”

Wow. Jeff Bezos accused the U.S. president of either deliberately misleading the public or lacking a “basic” understanding of the forces that actually drive prices.

Biden apparently doesn’t know that gas station owners are mostly independent small businesses whose razor-thin profit margins make it impossible to willy-nilly lower prices at the pump just because the president orders them to.

At least the Chinese agree with Biden. They mocked the American president for proving their point about “capitalist exploitation.”

New York Post:

In response to Biden’s demand that oil companies lower their prices, the president was trolled by Chinese state media.

“Now US President finally realized that capitalism is all about exploitation. He didn’t believe this before,” wrote Chen Weihua, EU Bureau Chief and columnist for China Daily, an English language media outlet owned by the Chinese Communist Party.

Biden’s unseemly begging comes on the heels of a White House advisor’s warning that we must suffer these high prices for fuel because “This is about the future of the liberal world order, and we have to stand firm.”

Biden himself suggested Americans are just going to have to grit their teeth and get used to it. At a press conference in Madrid, he made it clear that the high prices would be with us as long as Ukraine could convince the United States to stand with them

Q : The war [in Ukraine] has pushed [oil] prices up.  They could go as high as $200 a barrel, some analysts think.  How long is it fair to expect American drivers and drivers around the world to pay that premium for this war?

THE PRESIDENT:  As long as it takes, so Russia cannot, in fact, defeat Ukraine and move beyond Ukraine.  This is a critical, critical position for the world.  Here we are.  Why do we have NATO?

“So Russia cannot, in fact, defeat Ukraine and move beyond Ukraine,” is very cold war-ish, don’t you think? It was the rationale used by the right in every American intervention during the Cold War. The left mocked any notion of Russian expansionism at the time as childish and an excuse for imperialism.

What say ye now, Joe Biden?

Supplies wouldn’t be short and prices wouldn’t be as high if Biden had continued the policies of Donald Trump that made America virtually energy independent.

Biden is going to Saudi Arabia later this month, hat in hand, to beg the Kingdom to open the spigot and pump more oil. What’s worse is that Biden refuses to take any responsibility for gas prices spiking. He has blamed everyone else for his failures. This latest idiocy demonstrates a shocking ignorance of basic economics and a childish political effort to evade blame.

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