Richardcyoung.com

  • Home
  • Debbie Young
  • Jimmy Buffett
  • Key West
  • Your Survival Guy
  • How We Are Different
  • Paris
  • About Us
    • Foundation Principles
    • Contributors
  • Investing
    • You’ve Read The Last Issue of Intelligence Report, Now What?
  • The Swiss Way
  • My Rifles
  • Dividends and Compounding
  • Your Security
  • Dick Young
  • Dick’s R&B Top 100
  • Liberty & Freedom Map
  • Bank Credit & Money
  • Your Survival Guy’s Super States
  • NNT & Cholesterol
  • Your Health
  • Ron Paul
  • US Treasury Yield Curve: My Favorite Investor Tool
  • Anti-Gun Control
  • Anti-Digital Currency
  • Joel Salatin & Alfie Oakes
  • World Gold Mine Production
  • Fidelity & Wellington Since 1971
  • Hillsdale College
  • Babson College
  • Contact Us

Hong Kong’s Version of Unemployment Reform

January 16, 2014 By E.J. Smith - Your Survival Guy

Hong Kong Chief Executive Leung Chun-ying

Unemployment reform that benefits getting back to work makes sense to me. Hong Kong is taking that approach. It’s not a perfect solution that’s being offered by leftist Chief Executive Leung Chun-ying. But it’s better than what we’ve got in the U.S. The Wall Street Journal Asia Review and Outlook writes:

Chief Executive Leung Chun-ying announced an expansion of Hong Kong’s small welfare state in his annual policy address on Wednesday. That was no big surprise. His government has been under pressure, particularly from the pro-democracy opposition, to do more to help the working poor. Mr. Leung hails from the leftist community within Hong Kong that supported the Chinese Communist Party when that was decidedly not cool.

The shocker is that Mr. Leung’s new Low-Income Working Family Allowance promises to encourage work rather than subsidize poverty. The program deserves qualified praise.

Let’s stipulate that the best way to help the poor is to encourage entrepreneurial activity, which creates wealth and provides social mobility. Hong Kong remains a model on this score.

Related Posts

  • Pension Reform?
  • The Dangers of Reform
  • Hong Kong #1
  • Author
  • Recent Posts
E.J. Smith - Your Survival Guy
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, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention.

E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. 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

Click here to sign up for my free monthly Survive & Thrive letter.
E.J. Smith - Your Survival Guy
Latest posts by E.J. Smith - Your Survival Guy (see all)
  • Your Survival Guy: “You Wouldn’t Have Liked It” - July 8, 2025
  • We Finally Got on the Boat - July 7, 2025
  • Survival Guy: An All-Weather Balanced Portfolio - July 3, 2025

Dick Young’s Must Reads

  • PERSECUTION: The Price Paid for Questioning Covid Narratives
  • Victor Davis Hanson: How to Bust DC’s Stronghold
  • Who Is Alex Jones?
  • Protection While Traveling in France
  • Florida: Enjoy Certain Freedoms and Individual Liberties
  • Your Survival Guy: “Life on Main Street Hasn’t Been This Hard in a While”
  • A NEW CONTRACT WITH AMERICA: Rick Scott Finally Gives the GOP Something to Run On
  • Rich States, Poor States this State is Dominant Once Again
  • Gstaad and the Swiss Way
  • Who Wants to Depopulate the Earth?

Compensation was paid to utilize rankings. Click here to read full disclosure.

RSS Youngresearch.com

  • Your Survival Guy: “You Wouldn’t Have Liked It”
  • DOE Unveils Plan to Quadruple U.S. Nuclear Power by 2050
  • How China Weaponized Rare Earths to Shift U.S. Trade Policy
  • Trump Administration Moves to Curb Foreign Ownership of U.S. Farmland
  • We Finally Got on the Boat
  • Trump Flexes Tariff Power Ahead of August 1 Deadline
  • America Remained a Net Energy Exporter as Domestic Output Soars
  • Copper Prices Surge as Global Supplies Tighten
  • Happy Independence Day!
  • Survival Guy: An All-Weather Balanced Portfolio

RSS Yoursurvivalguy.com

  • Your Survival Guy: “You Wouldn’t Have Liked It”
  • ESG Doesn’t Stand Up to Scrutiny
  • How to Dock a Boat with Helm Master EX
  • We Finally Got on the Boat
  • The Big Beautiful Bill: Good, Bad, and Ugly
  • WARNING: Your Survival Guy and Gal in the Fog
  • Happy Independence Day!
  • Survival Guy: An All-Weather Balanced Portfolio
  • A Bazooka Fired at Private Equity
  • NYC, Crypto, ESG, the Haves and the Have-Yachts

US Treasury Yield Curve: My Favorite Investor Tool

My Key West Garden Office

Your Retirement Life: Traveling the Efficient Frontier

Live a Long Life

Your Survival Guy’s Mt. Rushmore of Investing Legends

“Then One Day the Grandfather was Gone”

Copyright © 2025 | Terms & Conditions | About Us | Dick Young | Archives