Stuart Varney on Biden's economics: It can't be good when communists think he's right

During his latest "My Take," "Varney & Co." host Stuart Varney discusses Biden's "magic wand theory of economics" as he continues to tell gas station owners to lower prices, arguing "it can't be good" when communists think he's right.

STUART VARNEY: I'm going to call it the "magic wand theory of economics."

The president tells gas station owners to lower prices. 

Just like that. I guess we are now in a command economy. "Do this because I say so!" 

Joe Biden is a government insider. 

He has spent nearly half a century in Washington D.C. and he does not understand how the rest of the country works.

BIDEN TWEETS DEMAND FOR GAS STATIONS TO 'BRING DOWN' PRICES, GETS PRAISED BY CHINESE STATE MEDIA

The Chinese communists approve of the Biden command. 

We have this tweet from China's state media: "Now U.S. president finally realized that capitalism is all about exploitation. He didn't believe this before."

It can't be good when the communists think our president is right about economics.

It is troubling when our president appears willfully ignorant. 

Hasn't anyone told him that 60% of gas stations are "mom and pop" family operations which would go out of business if they sold gas at a loss?

US ENERGY PRODUCERS ROAST BIDEN FOR DEMANDING 'COMPANIES RUNNING GAS STATIONS' LOWER PUMP PRICES

He surely knows this, but he chooses not to acknowledge it because his base just loves to beat up on anything to do with oil.

Why is Biden going to Saudi Arabia to beg them to produce more oil?

Because the Greens can't stand the idea of producing more here! 

Astonishing the degree to which the climate crowd is prepared to make us pay for their green dreams.

Biden has waved the magic wand, but it won't work: political posturing can't beat bad policy.

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