67. Economic Rollercoaster: What's Next?
In this newsletter, I highlight Abbott's property tax relief effort in TX, poverty relief initiatives, Biden's fiscal follies, Powell's monetary mischief, latest jobs and inflation reports, and more!
It’s been a few weeks with many ups and downs for me over the last few weeks. Thanks for returning. Please do me a favor and share this with someone who would likely be interested in a complimentary subscription. Let’s get to it!
Hot Take: My discussion with two happy warriors for liberty and free markets (Chuck Beauchamp, Ph.D., and Alex Salter, Ph.D.) in the newly titled Economic Policy Workshop #5 (formerly the Conservative Budgeting Workshop) was rescheduled to Wednesday, May 18, from 1-2 pm CT at this Teams link.
Personal Take: This month has been an emotional rollercoaster. As I mentioned in my last newsletter, our baby girl arrived on April 6. She’s five weeks old now and is doing well other than reflux, which has been a struggle but we’re blessed to have her.
We’ve struggled to find the baby formula (Nutramigen) recently but friends from church helped us stock up. This government failure that created a shortage of baby formula isn’t going away soon. Sad. We’ve been trying to get as much rest as possible while finishing up a successful soccer season for my oldest son and my youngest son has been growing quickly.
Then my mom’s health deteriorated faster than expected as she battled end-stage liver disease. She passed away peacefully on April 27 and we had her funeral on May 3. I miss her a lot but know she is in Heaven smiling down and I’ll see her again one day. Check out the eulogy I gave at the celebration of her life.
TEXAS & OTHER STATES ECONOMIES AND POLICIES
The work never stops because politicians don’t stop trying to reduce liberty.
How much more do progressives want to spend on govt schools? More! Ugh
Housing values are soaring but remember who actually determines your tax bill.
Check out my latest research paper on poverty.
Good commentary by GCO’s CEO Randy Hicks.
More good work on poverty by Heritage’s Les Ford.
U.S. ECONOMY AND POLICIES
This is in response to President Biden’s bad tweet on how to “reduce inflation.”
Free enterprise and free trade work best to let people prosper.
Deficits and debt are always and everywhere a spending problem.
Robert Reich has been having some very bad takes.
Mortgage payments are skyrocketing! Lock in a fixed rate to avoid this.
Inflation continues to soar as the economy stagnates: STAGFLATION!
Terrible results but keep trying to spin it…declining real wages in every month except two since Biden got into office.
You might like this…I do!
From GOAT#2 Friedrich Hayek on the importance of liberty and how nothing is free.
My prayers this week are focused on this Bible verse, which I find comfort in.
Thank you for reading and sharing this newsletter. I pray that we continue to have trust in the Lord to give us enough of everything. Many blessings to you and yours!
Overview of the Let People Prosper newsletter: We believe that an inclusive institutional framework with individual liberty, strong families, robust civil society, competitive capitalism, and a constitutional republic best supports abundant opportunities to relieve poverty and let people prosper. This prosperity isn’t just material but spiritual, psychological, etc. that satisfies human desires. Given this understanding and my experience and research as a free-market economist, I provide trusted views on economies and policies across America, especially Texas where I reside, and the COVID-19 situation.