Make America Look Like... Chicago?

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Unleash Prosperity Hotline
Issue #1084
08/19/2024
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1) Make America Look Like... Chicago?
Today, Democrats begin their convention in Chicago, which was once one of America's proudest cities: "The city that works."

But not so much anymore. Unbelievably, Chicago has a SMALLER population today than it did 100 years ago.

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Its population has fallen by 105,000 people just since the 2020 Census. Only San Francisco and Detroit have suffered bigger percentage losses. It's all traceable to lousy schools, high crime rates, high taxes, and race-baiting politicians.

Decades of progressive rule have accelerated the exodus. Last year the voters elected a Marxist, Brandon Johnson, as their mayor.

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Chicago is the perfect setting for a gathering of the interest groups that have hijacked the Democrat Party: teacher union members, public employees, DEI activists, race baiters, corporate welfare guzzlers, and community organizers.

Chicago is the Left's vision of the future. Did we mention that Mayor Johnson wants to have his local government run its own grocery store?

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2) 16 Ways Biden-Harris Made Housing More Expensive

The latest idea by Kamala Harris is to offer a $25,000 taxpayer gift to new home buyers. It's Kamala's version of student loan forgiveness to millions of college graduates. The main impact will be to raise the price of a new home – just as college loans only lead to higher tuition.

If it's less expensive housing Harris wants, we have a better idea. Why not repeal each of these intrusive and expensive regulations imposed by the Biden- Harris administration on new-home appliances that inflate housing costs:
* microwave ovens
* conventional ovens
* stovetops
* refrigerators
* freezers
* washing machines
* dishwashers
* clothes dryers
* water heaters
* air conditioners
* ceiling fans
* furnaces
* boilers
* heat pumps
* lamps
* light bulbs

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3) Trump Touts Unleash Prosperity Study on Costs of Regulations

In case you missed it, Donald Trump has been citing the Unleash Prosperity study by CTUP Senior Fellow Casey Mulligan, on the costs of regulations per family by recent presidents. Biden's regs are expected to cost, over a lifetime, some $50,000 per family. Under Trump, the typical family SAVED $10,000.

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4) Milton Friedman Predicted that Discredited Price Controls Would Make a Comeback!
A very timely quote of the day:

I am afraid that the chances that we shall have price and wage controls are unfortunately not negligible. It is a device that governments have repeatedly resorted to to try to cover up the effects of their own policies. It is offered as a cure for inflation. It is not a cure for inflation. It has never been a cure for inflation. It is an alleged cure that is far worse than the disease because its effect is to repress the symptoms, to repress the consequences of the more basic force

I always say that if you want to analyze wage and price control, the simplest analogy that brings it home, is to think of a kettle on your stove in which there's water and the water is boiling. It's got a cover on it, and the boiling water is threatening to throw the cover off. Now, obvious sensible thing to do is to turn down the heat under the the kettle. Another thing you can do is to take a brick and put it on top of the kettle, and at the same time, turn up the heat.

That is precisely what President Nixon did in 1971, when he simultaneously put a brick on top of the kettle by freezing prices and wages, and at the same time, launched on a more expensive monetary and fiscal policy, which turned up the heat under the kettle.

And what happened? The lid of the kettle blew up. You held it down for a little while, and then you had a 12%, 13% inflation. That has been the experience every time, not simply over the last 20, 30 years, but for 2,000 years. Emperor Diocletian tried the same thing in Rome 2,000 years ago with identically the same results.

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5) Wait! Aren’t These the Same People Who Promised to Build 500,000 EV Charging Stations?
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Kamala Harris just promised to build 3 million new homes in four years. That’s building roughly 2,000 new homes a day every day for four years. The plan, which includes Uncle Sam paying up to $25,000 for down payments will cost hundreds of billions of dollars.

Count us skeptical.

It’s been nearly three years since the Biden administration pushed through $7.5 billion for EV charging stations. They’ve built eight.

The administration also spent $42 billion on getting high-speed internet access into homes, but so far it's hard to identify one house that has been connected under the program.

Let’s hope that Kamala doesn’t put Buttigieg in charge of this housing program.

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6) Stop Shooting

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