Risk Aversion Has Enlarged The War In Ukraine

The Biden administration is fundamentally unserious about winning

Reader: suppose that, one morning, I told you to bake a pumpkin pie for dinner at six o’clock, and then gave you a jar of molasses. No allspice, ginger, milk, pie crust, eggs, or baking pumpkins. Just molasses. “Make a pie,” I say to you. “Where are the rest of the ingredients?” You would ask me.

Suppose that, instead of answering, I wait until noon, an…