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The Unintended Consequences of Governors Gone Wild

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Coronavirus Infects Stock Market: Part XXXIII

As some states inch their way back to a soft-open, there will be plenty of losers, many of whom have done nothing wrong and who are healthy.

Life Comes at You Fast. Slow It Down with My Friday Email. It’s Free.

Think about Rhode Island Gov. Gina Raimondo’s comments yesterday telling businesses they’ll have to allow employees 60 and older to work from home, or offer more paid sick leave. At the outset, most businesses will comply, but what if this type of thinking becomes law?

Why would businesses pay more to hire older workers or keep them on staff? Do these governors ever think about small business owners and how businesses actually operate?

Clearly not.

Governors like Gina Raimondo don’t seem to understand how much businesses respect their employees and what they bring to the table at any age. But when governments set prices for hiring certain workers, it skews the business agreement in favor of some pipe dream that will actually end up doing the opposite of what they propose.

Wake up.

Here, Patch.com reports on Raimondo’s announcement:

Even as Rhode Island begins the slow process of reopening the economy once the state’s stay-at-home order is lifted, older residents will still face stricter restrictions, Gov. Gina Raimondo said Wednesday.

Because they are more at risk during the coronavirus pandemic, Rhode Islanders age 60 and up will be required to stay home more often and longer than their younger counterparts, she said.

“I want some of the people in that older age group to come to terms now that your re-entry is going to be a bit slower, different and designed to keep you healthy,” Raimondo said. “I don’t know precisely what the age restrictions are going to be in different age brackets …. I just want everyone to be thinking upon these lines and be prepared for a week from now when we start to get into more details [and] you’ve had time to think about it.”

Employers will have to make extra accommodations for older employees, the governor said.

“Many of them will have to go to work, but just under a different set of conditions,” she said. “Maybe that means additional sick leave. Maybe that means additional social distancing. Maybe that will be additional testing …. They will be encouraged to work from home whenever possible.”

Americans are already angry with the level of government overreach they are experiencing. In the video below, police arrest a mom protesting against the closing of playgrounds in Idaho.


Read my entire series, Coronavirus Infects Stock Market here.

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E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West (RIP JB) and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com To sign up for my free monthly Survive & Thrive letter, click here.

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