From Stephen Moore <[email protected]>
Subject Unleash Prosperity Hotline #571
Date July 7, 2022 6:15 PM
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Unleash Prosperity Hotline
Issue #571
07/07/2022
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1) Angela Merkel: The Most Overrated Political Leader Of Our Times

It is hard to believe that just seven years ago, Time Magazine actually named Germany’s Angela Merkle as their Person of the Year. They even fawningly described her as the “Chancellor of the Free World.”

Time owes whatever readers it has left a solemn apology. Nearly every major economic and security policy advanced by Merkel as German Chancellor has turned out catastrophically wrong.

Today, the German economy is in tatters in no small part due to her blunders. See the headline this week from Business Insider:

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It was Merkel who decided to move Germany away from fossil fuels and nuclear power and instead “go green.” Her green energy movement nearly bankrupted the German manufacturing economy, and nearly the entire failed experiment in solar and wind energy has been scuttled.

It was her decision in 2017 against the advice of Trump to build the Nordstrom pipeline, which only made Germany wholly dependent on Russia and Putin for natural gas. She made trade deals with China - deliberately undermining Trump’s strategy of economically isolating Beijing. She chose to align Germany with Russia, China, and even Iran over the NATO alliance with the United States. She tragically bet Germany’s future on the wrong horses.

In short, every Merkel blunder has made the world a more dangerous, less free, and less prosperous place. She was to Germany what Joe Biden has been to the United States – a dismal failure. Lets hope American figure this out more quickly than the Germans did.

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2) Bye Bye Boris
Speaking of failed leaders on the other side of the pond, we had high hopes for Boris Johnson – after all, he was a leading voice in favor of Brexit – which has been a godsend for the Brits.

But he governed as a big, big government conservative. As Prime Minister, he lost his base by ignoring and even hollowing out the Conservative Party’s free-market principles - originally instilled by Margaret Thatcher.

Last year, Boris abandoned two of his flagship pledges from his 2019 election manifesto by dramatically raising taxes and spending. Britain's tax burden is now the highest it’s been since the 1950s. During COVID, he paid millions of people not to work for far longer than the pandemic dictated. He imposed unpopular militaristic Covid lockdowns and infuriated voters by lying about parties at 10 Downing Street in violation of his own nationwide lockdowns.

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Here’s hoping that whoever replaces Boris as Prime Minister returns the party to its Thatcherite roots. Not only did she transform Britain by encouraging a modern meritocratic economy, she won three landslide elections and never lost one.

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3) Even The OECD And UN Now Admit School Closures Harmed Kids With No Health Benefits
Now they tell us. Please read the excerpts blocked off in red below. We have described school lockdowns as the greatest episode of national child abuse in history and this report from 32 nations confirms we were right. If you didn’t hate teacher unions already, now you will.

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4) The Euro-Peso
Speaking of Europe’s economic woes, the Euro is in a free fall. It’s starting to devalue like the peso.

The Euro has fallen against the dollar to its lowest level in two decades, and the slide doesn’t show any signs of abating.

Germany, France, Italy, and the gang are already mired in a de facto recession. The combination of high taxes, socialist welfare state policies, green energy failures, feckless leadership, and the complete surrender of its energy supply to the Russians have made the European “leaders” look and act like the obsequious minions in Despicable Me.

What’s scary is just a sneak preview of the “Liberal New World Order” that the Biden team wants America to be part of.

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5) Fred Gray An American Hero

Well, believe it or not, Joe Biden finally did something right. Today he will award civil rights champion Fred Gray, who is all of 90 years young, the President’s Medal of Freedom.

Our good friend and supply-side compatriot Wendell Gunn has a must-read article in the WSJ today about Gray. He was the lawyer who represented Rosa Parks in the Montgomery, Alabama bus boycott and was a legal adviser to Martin Luther King. He was instrumental in the desegregation of the Alabama schools in the 1960s and defeated George Wallace in court.

This was a time when civil rights was about the American ideal of achieving a color-blind society.

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Civil rights attorney Fred Gray talks with the media in Montgomery, Ala., Oct. 26, 2021.
PHOTO: VASHA HUNT/ASSOCIATED PRESS
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6) The Tin Man

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