Father's Day Gifts: Special Session & Inflation?

In this newsletter, I discuss the latest on the U.S. and TX economic & fiscal situations, likelihood of a special session in TX, increased inflation fears, and much more.

Hello Friend!

I hope you’ve had a prosperous week. One way to ensure this each week is to please subscribe to this weekly newsletter and share it with others who would enjoy it. As always, my motto: Free-market capitalism best lets people prosper!

Happy Father’s Day to all of you great fathers out there! There are too many kids who don’t have a dad for one reason or another, and I’m thankful for so many great ones out there. I certainly enjoyed time with my wife and boys over the weekend and every day. We’re continuing to live our dreams!

Recall that every moment with your family is priceless in the sense that it is difficult or even impossible to put a value on it. However, thinking like an economist, nothing is free because any scarce thing has a subjective value that is compared with alternatives (opportunity costs) and a cost (either direct or indirect through tradeoffs) to supply. This is what brings about the fact that people make rational decisions every day with the important signal of prices and profit-loss mechanisms. How do I know these are rational decisions, whereby your marginal benefit is greater than your marginal cost of acting, because as a social scientist I can only evaluate your action. A third party may say that the action is “irrational” but that is determined by a subjective third party who has a different set of desires, assumptions, and information available than the person making the decision to act. Milton Friedman clearly explained in his writings that nothing is free.

Now let’s get to the economic and fiscal situations in Texas and D.C.

TEXAS ECONOMIC AND FISCAL SITUATION

U.S. ECONOMIC AND FISCAL SITUATION

TEXAS OPEN, NOW OPEN AMERICA…

Closing Thoughts

I just finished reading the book Maverick about the economist Thomas Sowell by Jason Riley, which my colleague Chuck DeVore recently had a great conversation with Riley about his book. Here is one of Sowell’s many key points.

My prayers this week are focused on the following verse:

Twitter avatar for @VanceGinnVance Ginn @VanceGinn
I’m missing my dad today, as he suddenly died from #SUDEP in 2011. Here’s his story:
vanceginn.com/letpeopleprosp…. @SudepAction But I’m passing on his lessons to my kids and making memories of our own as we’re blessed with our Heavenly Father’s grace. #HappyFathersDay Image

Thank you for reading this newsletter and sharing it with your network. I pray that our children are blessed and that they will walk with integrity by following Jesus Christ. Many blessings to you and yours, and have a prosperous week.

Vance Ginn, Ph.D. | www.vanceginn.com | #LetPeopleProsper