One of our favorite lines in the Trump nomination speech last night was after he finished talking about securing the border, he said America needs and wants LEGAL IMMIGRATION! Hold that thought, Mr. President.
We pressed this exact point in yesterday's Hotline.
Biden has turned immigration policy on its head. He's let in millions of illegals, but it's harder than ever for our businesses, tech firms, farmers, and ranchers to get the lawful immigrant labor they need.
Illegal Immigration Up, Legal Immigration Down
A smart and strategic legal immigration policy is a crucial step to three percent-plus growth. Build the wall, but make sure there are gates.
In the wake of his amazing courage under fire (literally), Trump's betting odds of winning the White House have soared this week to as high as two to one. The stock market also went on a tear. Despite Thursday's sell-off, equities have risen sharply this week.
Some analysts are calling this the Trump rally.
There is evidence that the market has correlated positively with Trump's odds of winning. That makes sense because Trump's policies are clearly better for equities. It seems like investors see Trump as better for a bull market than just about any other. But be careful. If conservatives claim credit for a rising stock market, then they have to take the blame if the market suddenly crashes.
If this really IS a Trump rally, it also creates a paradox. A booming stock market helps the incumbent party – the Democrats. So all things equal, if the market soars over the next three months and Americans feel upbeat from a 401k wealth effect, then they are less likely to vote for change. Which could be the opposite of what investors were hoping for.
3) Democrat’s Latest Scheme: Turn America Into California
Biden is out. Who’s in?
The top two candidates are Kamala Harris (former Senator from CA) and California Governor Gavin Newsom. (Michigan Governor Gretchen Whitmer has forsworn any interest).
So here is the case for Gavin:
After he was caught losing track of $20 billion spent on homelessness, Newsom has vetoed a bill that would make him account for further spending.
California is imposing "permanent water restrictions" for the first time in its 174-year history. This comes after 20,000 cubic feet per second of water flowing to the ocean because of inadequate storage facilities being built.
On Monday, Newsom signed a bill banning California school districts from disclosing information about a student's gender identity to their parents, in an effort to prevent the "forced outing" of those students.
The state has lost a net 3 million people over the last decade.
It ranks 49th or 50th (New York sometimes squeezes out California) for most anti-business environments.
Elon Musk now says he’s done with California.
SpaceX will now move its HQ from Hawthorne, California, to Starbase, Texas," Musk posted on X, his social media platform.
Musk also announced that X will also move from San Francisco to Austin. "Have had enough of dodging gangs of violent drug addicts just to get in and out of the building," Musk wrote on X.
4) All Those Electric Vehicles and No Place to Charge Them
Speaking of California's dysfunction, the state has vowed to become the world leader in forcing electric vehicles onto the marketplace, but only 43,000 public chargers have been installed statewide and many of them are often out of service due to outages.
Charging companies say there simply aren't enough certified electricians to install and repair the devices.
Power outages in California are also an increasingly common occurrence.
California will need 1 million electric chargers by 2030 to reach its green dream, but so far there are only 105,000 public and "shared private" chargers today. To meet the 2030 target, 130,000 new stations – more than seven times the current pace – must be built every year for the next seven years. By 2035, all new cars sold in the state must have zero emissions.
As we’ve noted before: The Left's plan is to buy the youth and millennial vote by forgiving millions and millions of student loan debts.
But that plan is stalling out. The 8th Circuit just stayed the Biden administration's Plan B half-trillion-dollar student loan bailout pending a decision on an injunction. This blocks Biden from discharging any more loans or cutting payments in half as contemplated by this rule – at least until the 8th Circuit decides on an injunction.
This may all be headed to the Supreme Court – and we hope it is. Biden keeps defying Congress and the Supreme Court in his vote-buying scheme. In other words, he has no legal authority to unilaterally forgive loans. If this scheme isn’t unconstitutional, what is?
