MON brief 10.4.21

Welcome to the morning brief. If you were forwarded this email, be sure to sign up.

The newsletter will be coming out at 3 PM going forward.

Today’s stories

JOE BIDEN, where he is continuing President Trump’s policies, is succeeding, and where he is rejecting Trump’s policies, he’s failing. 

The administration is continuing the trade war with China because it’s effective and the correct move against a regime that’s become more transparently hostile to the world and former trade partners. When it comes to failures, Afghanistan is the most glaring, saying nothing of the complete disaster we have at the border.

JP MORGAN CHASE whining about a new Texas law precluding local entities from conducting business with the bank because of their anti-Second Amendment policies highlights an under-discussed issue: How Texas’ profligate local governments leave the state exposed to so-called “woke capital.”

At immediate issue is a provision in SB 19, passed during the regular session, prohibiting local government contracts with any entity that ‘discriminates’ against firearms manufacturers.

According to JP Morgan Chase, the new law creates uncertainties for their previously lucrative business underwriting local government debt across the Lone Star State.  At stake are billions of dollars in taxpayer-financed debt and the attendant fees to its (increasingly woke) Wall St underwriters.

While J.P. Morgan Chase’s legal concerns are likely overblown (Citigroup notably disagrees), they highlight the more significant problem.  Why are local governments across an allegedly conservative state funneling billions of dollars to (increasingly woke) Wall St. in the first place?!?

Local government debt has been a fiscal conservative hobby horse for a decade.  It’s now over $365 Billion. That’s a lot of fees for (increasingly woke) Wall St.

Texas probably can’t reverse the wokeification of Wall St., but we can certainly stop subsidizing it.

This “hit them where it hurts” approach must be replicated and applied to even more policies on a going-forward basis because chokepoint attacks initiated woke left of late will only increase.

PRO ABORTION ghouls took to the streets marched over the weekend to protest against the Texas Heartbeat Act Bill. Texas Media is trying to gaslight us into believing this is bad politics for the GOP.  Precisely the opposite.

Pro-Abortion forces in Texas peaked on June 25, 2013, and they still lost (and haven’t recovered). To the degree abortion is a significant issue in the 2022 general election (until proven otherwise), there’s every reason to expect 2014 style results.

R.G. Ratcliff, of all people, knows this.

The march took place ahead of a term in which SCOTUS is set to take up an abortion case that could fundamentally alter Roe v. Wade.

ELLEN TROXCLAIR is now running for the Texas house.  To the degree this keeps her moving up the political ladder, this is a good thing—two and a half cheers.

Still, this feels like a missed opportunity.

Troxclair is a phenomenally talented political figure. She was initially elected to the Austin City Council in a D+10 district.  For her to run in a safe Republican community squanders her appeal to crossover voters.

Hit the Links

Will Congress allow the IRS to spy on you 

​​Child abuse cases are climbing in San Antonio

Glenn Rogers, pretty useless, files red meat Bible bill

Texas Dem considers seat swap

Border crisis update