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Big Government Politics on the Shores of Newport and Beyond

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Coronavirus Infects Stock Market: Part LIII

Blue state governors have completely dropped the ball in the name of science, killing businesses and creating new health problems like anxiety and depression.

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In blue Rhode Island, we have our governor patting us on the head after a “successful” Memorial Day weekend. “The good news is, overwhelmingly, people were out and about doing the right thing,” she said during her daily news briefing.

Tonight’s Newport City Council meeting will hear a resolution to require all pedestrians to wear masks on certain streets at all hours of the day. Councilwoman Susan Taylor’s resolution states that as weather conditions continue to improve, more people will be outdoors and more visitors will be in the city.

“It’s paramount that we continue to show concern for public health on the streets and sidewalks and in the public spaces of Newport, in order to reassure residents and encourage tourists that the city is safe for pedestrians,” the resolutions states.

Governor Raimondo mentioned the resolution during her daily briefing. “I have to respect that,” she said. “They must have a reason to believe that in Newport, in the tourist season—there’s going to be lots of people, out-of-towners—that that’s the way to go.”

Tell that to the scores of restaurants forced by draconian rules to turn away customers well into June. You can kiss this summer goodbye.

Big government politics are the norm along the coasts of New England.

Blue state governors have gone wild, demanding bailouts, grants, and material from the federal government to paper-over the completely unprepared state their states are in. Years of overspending have left blue states on the edge of fiscal solvency, with no reserves to use in times like these.

One of those governors is New York’s, Andrew Cuomo. The Blaze reports on the field hospitals New York built. Now the governor and fellow-traveler NYC Mayor Bill de Blasio want taxpayers from across the country to pay for them. The kicker is, most of the hospitals were barely used, some not at all. Chris Enloe writes:

A field hospital set up in Brooklyn specifically for coronavirus patients is now being dismantled without having served a single patient, The City reported.

As New York City quickly became the global COVID-19 epicenter, city officials ordered that many sites across the city be converted into field hospitals. At the time, experts said the growing pandemic would easily overwhelm the city’s hospital system.

One such site transformed into a hospital was the Brooklyn Cruise Terminal in Red Hook, which was designed to treat nearly 700 patients.

According to The City, the field hospital was “slated to open in mid-April but wasn’t ready for service until May 4.” But by the time construction was completed, New York’s coronavirus-related hospital population had dropped significantly, meaning the city no longer needed the field hospital.

And now, the site is being demolished.

What’s worse, city officials reportedly expect the Federal Emergency Management Agency — via the taxpayer — to pick up the $20.8 million tab for constructing and tearing down the temporary site.

While the coastal fiefdoms burn, the rest of the country is quietly finding its way back home.

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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