The Debate Revealed a Small Problem for Dems, a Catastrophic Collapse for the GOP

You are receiving this email because you signed up to receive our free e-letter Gilder's Guideposts, or you purchased a product or service from its publisher, Eagle Financial Publications. [Gilder Guideposts] [Technology Report]( [Tech Report PRO]( [Moonshots]( [Private Reserve]( The Debate Revealed a Small Problem for Dems, a Catastrophic Collapse for the GOP by George Gilder and Richard Vigilante 07/03/2024 SPONSORED CONTENT [Best energy ETF for massive monthly payouts]( Tim Plaehn here. I went looking for a play in the oil market... And found an ETF that tracks the value of crude oil and it pays a 22% yearly dividend using a unique options strategy to generate extra income. Using ETFs is an easier way to reap the benefits without the work, every single month. And if you act by July 18th, you could secure your first payout. [Go here to find out more.]( The debate, the debate and nothing but the debate. Argghhhh!!! We confess to a limited (vanishing?) interest in politics as sport or even blood sport. We were tired of the debate weeks before it happened. Equally tiresome is the BIG, BIG news that was not news at all. President Biden’s mental and physical health are failing. Everyone now can say out loud that the Democratic Party has a big problem on its hands. Ho hum. It’s not that big a problem. It’s a one-election difficulty. The Dems have other, more serious problems, but the debate did not illuminate them. What we got out of the debate is that the Republican Party has a much bigger problem. The great GOP Hegira, the Long March from Nixon to Reagan, was about one thing: The emergence, then ascendance, of optimistic Republicanism. At least since Hoover, the Republican Party had been the party of “it can’t be done.” And the thing that absolutely could not be done was to offer a frank, hopeful alternative to the Dem slide toward socialism. As it was said in our youth, “The difference between the two parties is that the Democrats want to run the country and the Republicans don’t want them to.” Nixon-era Republicans rarely contested either the New Deal or Lyndon Johnson’s Great Society spending binge. The furthest they would go was to offer allegedly more efficient versions such as Nixon’s Family Assistance Program, advertised as a welfare system that would support families rather than subverting them as government welfare programs did. None of it worked. The welfare state utterly destroyed inner-city and Appalachian families, and feminist ideology plunged the U.S. birth rate far below replacement. Nixon ended up funding Johnson’s programs more lavishly than Johnson could have dreamed. Apparently, Nixon believed the war in Vietnam was unsustainable if he simultaneously fought the Dems on domestic issues. Apparently, Nixon believed the war was more important than stopping the rise of socialism in the United States. What would he say today if he knew that after the ignominious loss of the war by the United States, Vietnam has become perhaps the leading Asian bastion of capitalism and support for the United States. European economist-pollster Rainer Zitelmann proves it in his new book, “How Nations Escape Poverty,” which I—George—introduced. Wage and price controls expressed the ultimate in Republican pessimism—Republicans so despairing of free markets that they adopted systems that had been failing in the Soviet Union for decades. 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It’s not just Trump’s eminently understandable sense of embattlement. The entire congressional GOP alternates between rage and fear. Rage that any county would dare to challenge us for the title of top nation, and fear that we are not up to the challenge. Protectionism is pessimism as policy. It reaps what it fears. Frantically, the government tries to sanction and subsidize its way to victory in semiconductors, with the net result that American companies have lost an astonishing amount of ground to the Chinese in just the past two years. The subsidies are bad enough; the sanctions are protectionism in reverse. China might have decided on its own to keep American microchips out of the Chinese market to encourage their domestic semiconductor industry. Instead, we do it for them in the vain, nay ridiculous hope that if we refuse China’s money for billions of chips, the Chinese won’t be able to get their hands on one of them to unearth its secrets. Don't the Washington experts know that China educates four times more engineers than we do and comprises much of the world's electronic supply chain? Meanwhile, in Taiwan, which directs 60% of its investment to the mainland, lies the heart of the global semiconductor industry in TSMC and its myriad suppliers. We have less chance of stopping the Chinese from trading with Taiwan than China would have trying to stop the United States from trading with Hawaii and Puerto Rico. The most damaging version of the new GOP pessimism, though, may be its rollover on climate. Although boldly acting as President to withdraw from the Paris climate treaty, in the debate, Trump ran like a rabbit from the climate question. Pretending it doesn’t exist has become GOP policy. No Republican leader will now directly confront the climate issue. Republicans won’t contest the alleged gravity of the threat (which is probably zero), because they have allowed it to become an orthodoxy. It’s become one of those questions that always gets answered in the “of course, but” form. “Of course, racism (sexism, ableism, serial murder, pedophilia, extreme weather) is a grave problem in our society today, but… “ [Don't miss this peculiar signal]( Our cutting-edge A.I. technology has just pinpointed one stock that's set to outperform everything else in the market. This breakthrough could be a game-changer. This is a rare occurrence, but global conflict and election tensions might be the #1 cause. [Stay tuned here]( – you won't want to miss this opportunity. Orthodoxies are not immune to dissent. They can be shaken, even unseated, but not without effort. The GOP is never going to win the anti-life, depopulationist Green vote, why not fight back? If disputing green science seems too difficult, why not dispute green socialism, now the most malevolent form of the socialist virus? Trump defended his refusal of the Paris Accords by saying it was a bad deal, with the United States carrying too much of the burden. It sounded weaselly because it was weaselly. The right answer is that green socialism is more than bad economic policy. It is a counsel of despair. It denies the Providence of a bountiful creation or our God-given abilities—and duty—to nurture it. It makes man—all men, not just the rich—a plague upon the earth. It is the new "Suicide of the West." Reagan’s answer would have been faith in the ingenuity and resourcefulness of free men to solve a "problem" that itself merely testifies to the astounding achievements of capitalism. If entrepreneurial and technological creativity was really powerful enough to have changed the very climate of the earth, then surely that same system commands the power to curb the change, if necessary. The only solution to any human crisis is human creativity and enterprise. Socialism and industrial policy merely enshrine the failures of the past in a fallacious claim of socialist progress. Democrats have a one-election problem. If Republicans cannot recover their faith in freedom, their problems are just beginning. Sincerely, [The Editors] George Gilder, Richard Vigilante, Steve Waite, and John Schroeter Editors, Gilder's Guideposts, Technology Report, Technology Report Pro, Moonshots, and Private Reserve About George Gilder: [George Gilder]George Gilder is the most knowledgeable man in America when it comes to the future of technology and its impact on our lives. 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