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Unleash Prosperity Hotline - Weekend Edition
Issue #1318
08/01/2025 - 08/03/2025
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1) Ford Loses Almost $15 Billion on EVs Over Three Years

What does ending endangerment mean for automakers who were bought into Biden's electric vehicle "transition"? Sweet relief, if they are smart enough to accept it.

We're reminded that back in February, Gizmodo reported:

"Ford's electric vehicle business lost $5.1 billion in 2024, even worse than its loss of $4.7 billion the year prior. It expects to lose even more, $5.5 billion, on EVs in 2025."

These losses are so large that energy expert Robert Bryce estimates ([link removed]) Ford lost "$52,113 for each EV it sold in 2024." You can’t cover losses like that on volume.

In the first quarter Ford lost "only" $849 million on EVs. But the second quarter 2025 loss of $1.3 billion is even bigger than last year, and Ford reinstated its forward guidance, so an EV loss in the $5 billion range may happen again this year after all.
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Biden's EV obsession is destroying this once-great company.

Now that there is no federal policy forcing them down this path, will they have the sense to change course?
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2) Trump Issues New Tariff Schedule Even as Courts Prepare To Repeal Them

Yesterday, Trump announced his latest tariff blitz - with rates generally ranging from 15% to 40% starting on August 7.
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These rates are much lower than the April 2 "Liberation Day" rates that sent markets into a tailspin, but are still high in many countries like Switzerland and South Africa. This is the last thing the U.S. economy needs right now.

Meanwhile, the Federal Circuit Court of Appeals is now hearing a case on the legality of this whole scheme.

The emergency powers granted by Congress don’t specifically authorize tariffs. We’ve said many times that the Constitution is clear that all taxes must be approved by Congress and start in the House. The Wall Street Journal reports that the appeals court appears to agree with us on this:

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Regardless of what one thinks of the Trump trade deals - which we think have been impressive - it is critical that the courts NOT grant Trump - or any president - the right to raise taxes unilaterally.

If the Court does allow Trump to impose tariffs never approved by Congress, just wait till the Left gets back in power.

Yikes.
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3) Ousted ABC Reporter Spills the Beans on Trump Derangement in the Newsroom

Former ABC News correspondent, Terry Moran, was fired in June for attacking President Trump on social media. He now admits that when it comes to Trump, the network newsrooms lack any "viewpoint diversity."

"There are hardly any people who supported Donald Trump at ABC News. And this is bound to impact coverage, not so much out of malevolent bias... but more out of what is a kind of deafness. The old news divisions don't hear many of the voices of the country, because those voices aren't in the newsroom. Yes, news teams go out with a microphone and a camera and accost people at Trump rallies; but to me that often comes off as weirdly anthropological and inaccurate, kind of like trying to understand nature by visiting a zoo,”
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4) Laugh or Cry: Bloomberg Says Illinois Is Doing Better Than Texas!

Our new Vote With Your Feet (VWYF) ([link removed]) website documents where Americans are moving to and from.

Here are the numbers on how many people are on net moving to Texas from Illinois and how much money they are taking with them:
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But Bloomberg ran a piece this week called "The Texas Economy Ain't All That” which argues that Illinois is superior because it has a higher share of people on food stamps. Seriously.
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Bloomberg also points out that Illinois has a higher per capita income than Texas. But incomes are growing much faster in Texas. At the current pace of moving vans out of Illinois, at some point there will be a handful of millionaires living in big mansions on the shores of Lake Michigan and everyone else will have left. But the state's per capita income will surge.

Texas is a youthful state; its median age is younger than the national mean, while Illinois's is older. Also, Texas is a state with lots of young immigrants who arrive poor, but quickly rise up the economic ladder.

Of course, the one question Bloomberg can’t answer is this: if Illinois - with its high taxes and progressive policies - is such a wonderful place to live, why is everyone leaving?
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5) Quote of the Day

Governor Glenn Youngkin at the launch of VoteWIthYourFeet.net this past Monday:

"I always read every day. And If you don't, read the Unleash Prosperity HOTLINE every day, because I'm telling you, it is outstanding. It is outstanding. UnleashProsperity.com. Go get it."
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So come on, folks: tell everyone to sign up ([link removed]) . Remember: if your friends aren’t reading the HOTLINE, are they really your friends?
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6) Climate Change Now and Then

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