STACY MCCAIN: Magical Thinking as Economic Policy. “Joe Biden evidently believes that recession can be avoided by pretending there is no recession, and that inflationary spending proposals can be enacted by dubbing them ‘The Inflation Reduction Act.’ Of course, it is somewhat sarcastic to speak of what Biden ‘believes,’ let alone what he ‘thinks,’ given that his mental condition has deteriorated to such a dysfunctional state that his cognitive processes cannot really be described as ‘belief’ or ‘thought,’ in the literal definition of those words.”