In the wake of the horrific assassination attempt on former President Donald Trump, nearly everyone is calling for a cooling off period from the overheated presidential campaign rhetoric. Biden's speech was right on when he declared: "It's time to cool it down" on the passions of the election.
Biden concluded by saying: "There is no place in America for this kind of violence -- for any violence. Ever. Period."
We are all for that. Cut out the name calling and the insults and the hyperbolic rhetoric from both sides. Stick to the issues. That's where free market ideas win.
In recent weeks, as Biden's cognitive decline has become more evident, and the prospects of a Trump victory have risen, the left has retaliated by ramping up the anti-Trump derangement.
One of our loyal readers reminded us of this cover story a few weeks ago from the New Republic depicting Donald Trump as Hitler. It's obviously and intentionally inflammatory and disgusting.
What’s sad about this one, is that once upon a time, the New Republic was center-left and our friend Fred Barnes was a reporter there. Now they’ve jockeyed to the left of the New York Times.
We wonder in the wake of the shooting whether the New Republic will retract this issue, or apologize for the cover.
We doubt it.
Think of this cover every time you hear the left complain about hate speech from Trump.
2) America and the World's Most Profitable Company Was Founded By a Legal Immigrant
You probably heard the news last month that microchip producer Nvidia – which is the world leader in artificial intelligence – became the most valuable company on the planet for a time last month. It surpassed Microsoft and Apple. These three tech companies keep trading the lead and each has a market cap of above $3 trillion.
This one company is worth more than most of the countries in the world. It was founded 30-some years ago in Santa Clara, CA by Jensen Huang, an engineer from Taiwan who still serves as CEO
At least one-third of America's top tech companies were founded or cofounded by legal immigrants - including Intel and Google among hundreds of others. A recent study found that among the next generation of startups – the billion-dollar companies that have not yet gone public – 55% were founded or co-founded by legal immigrants.
This is just another useful reminder that legal immigration is America's greatest comparative advantage.
3) Business Bankruptcies in First Half of 2024 Highest Since 2010
According to the Biden administration, the economy is on fire. Really?
Here's a troubling chart:
Bankruptcies are on pace to top the number in 2020 when the entire economy was locked down for half a year.
S&P notes that one of the most notable bankruptcies was the second bankruptcy of Fisker Automotive – one of the original beneficiaries of Department of Energy loan guarantees for electric vehicles back in the Obama administration.
4) New UK Labour Government Immediately Bans Oil Drilling
Britain's Labour Party took power this month full of promises that it had learned its lesson and wouldn't raise taxes, nationalize industries, or micro-regulate society the way the socialist Labour Party of old did. So much for that!
Labour may no longer be explicitly socialist, but it appears to be dancing to the tune of the Green New Deal. Within days of taking office, Energy Secretary Ed Miliband ordered an immediate ban on new drilling in the North Sea.
How could a party that is supposedly representing blue-collar workers be in favor of suspending drilling, which will endanger 200,000 jobs?
It sounds like the Labour Party's marriage with the Green movement in Britain will place industrial workers in the unemployment lines. How long before the working class realizes that they have been sold down the river by their union bosses?
Unleash Prosperity will have a major presence at the RNC convention this week. On Wednesday morning from 9–11 central time we will be holding our third annual Economic Summit with many superstars including three of our four co-founders – Kudlow, Laffer, and Moore – along with North Dakota Governor Doug Burgum, Maria Bartiromo, Scott Bessent, Harold Hamm, and many other luminaries.
Here is the invitation for those who wish to attend. For those who wish to watch live, but cannot attend in person. please RSVP, and we will send a link!
While we are a non-partisan 501 (c)(3) organization, not involved in promoting candidates or parties, we are in the business of promoting time-tested policies that promote more freedom and liberty. So we will go anywhere willing to hear these ideas. See you in Milwaukee!
