Unleash Prosperity Hotline #1009

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Unleash Prosperity Hotline
Issue #1009
05/01/2024
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1) Another Fake News Story Alert

The Wall Street Journal published this much-hyped story of how the Trump economic team is drafting a secret plan to undermine Fed independence.

The story is modern journalism at its shoddiest: no one is quoted in the story (all the “sources” were unnamed) and NONE of Trump’s top economic advisors – including some of your hotline editors – know anything about this “top secret” memo. Because there is no source, it’s impossible to refute.

Here is the inside story by the way: None of Trump's top economic advisors want the Fed to be political – and that includes Trump himself. Right on cue, earlier this week Paul Krugman of The New York Times slammed Trump for his alleged embrace of “quack economics.” We at CTUP want to see reasonable Fed reforms – such as a price RULE for determining when interest rates should be altered – and more openness in terms of Fed meetings.

The Least Rotten Apple in the Cart: Dollar Value vs. Other Currencies

But if there are any ”quacks” that need to be called out here, Krugman sits at the top of the list.

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2) Victory at Reagan Airport

One of the reasons that prices remain so high for plane tickets is that while prices have been deregulated, airports have not been and are subject to many bureaucratic whims.

One of the most galling examples is at Reagan National Airport in Washington, the only airport where Congress sets the number of daily incoming and outgoing flights. That rule, in place since 1966. The number of flights to the West Coast is highly restricted because of arcane and outdated federal regulations known as the “perimeter rule.”

We’ve been arguing for more flights in and out of the newly renovated Reagan Airport (DCA) for many months. We put together a coalition of leading conservative voices for added flights:

Monday marked a partial victory on this issue when the Senate FAA bill authorized 10 more daily slots (5 inbound and 5 outbound) for nonstop flights beyond the 1,250-mile "perimeter."

The full Senate still needs to approve the compromise – but overall this is a win for passengers as more nonstop flights means greater convenience, more choice of airlines, and cheaper prices. The big loser is United Airlines which wants to force people to truck (30 miles) out to Dulles (which is a United hub) for West Coast flights.

Kudos to Ted Cruz for leading this effort in the Senate.

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3) Louisiana’s GOP-Controlled Senate May Punt on School Choice

What’s the matter with Republicans in Louisiana?

The GOP this year has control of the Louisiana governorship (with the recent election of Jeff Landry), the House, and the Senate, and yet the Senate is about to fumble the football two yards short of the goal line on a historic school choice bill for parents and kids.

Landry ran on supporting school choice. The House overwhelmingly passed a sweeping choice bill last month. But now the Senate – in part because of opposition from the Senate president, who is playing into the hands of the teacher unions – is blocking passage.

And how’s this for lame? The Senate is set to commission a study on the impact of educational freedom.

What is there to study? School choice has been studied up, down, and sideways and has been declared an enormous success everywhere it has been tried – from Harlem to Milwaukee.

Lousiana Governor, Jeff Landry

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4) Consumers Aren’t Showing the Love for Bidenomics

No matter how many times the media and the White House minions keep telling Americans how brilliantly Biden has handled the economy, consumers are still as dour as ever.

The latest April consumer confidence survey finds:

“Confidence retreated further in April, reaching its lowest level since July 2022 as consumers became less positive about the current labor market situation, and more concerned about future business conditions, job availability, and income,” said Dana M. Peterson, Chief Economist at The Conference Board.

This chart compares consumer confidence under Trump vs. Biden. Night and day.

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5) What Would Reagan Do in Response to "Mostly Peaceful" Protesters

We are First Amendment hawks and believe that people have a right to protest – even when they hold crazy beliefs. But the student protests have turned violent and the rioters are shutting down the entire school operations as they take over entire campuses. Meanwhile, school administrators, mayors, and our feckless President do NOTHING, as the pampered kids get more out of control.

Our video of the day was posted by our friends at the Daily Caller in 2020 and is mostly made up of clips from over 50 years ago, but it has never been timelier.

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6) Now THIS Is Confidence

The Chicago Bears had the first pick in the NFL draft this weekend and they chose former USC QB Caleb Williams.

New Bears punter Tory Taylor reports that after being selected by the Bears in a later round, he received this text from Williams:

"Hey, you're not going to punt too much here."

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