Currently set to Index
Currently set to Follow

Richardcyoung.com

The Online Home of Author and Investor, Dick Young

You Want to Live Where Your Money is Respected

By

By Lightspring @ Shutterstock.com

You meet a lot of people when you ski, especially on a crowded holiday weekend like this last one. We shared a chair with two brothers from Vermont who were none-too-pleased with Bernie Sanders. “He’ll give the whole state away if he can,” said one of the brothers. The other nodded, “Yup.”

There was an excellent essay in Saturday’s WSJ: “Boomer Socialism Led to Bernie Sanders: Government policies limit millennials’ prosperity, Harvard economist Edward Glaeser argues. Will they realize more of the same isn’t the answer?” Mene Ukueberuwa wrote:

Mr. Glaeser, 52, argues that young people have radicalized politically because “there are a number of ways in which the modern American economy isn’t working all that well for them.” Many public policies make it harder to get a job, save money or find an affordable home, leaving young idealists thinking, “Why not try socialism?” But that cure would merely worsen the disease.

Mr. Glaeser decries policies that constrain the job market and increase the cost of living compared with what the economy would produce if left alone. “In many cases,” he says, “there seems to be a sense in which insiders have managed to stack the deck against outsiders.” People who have secured a foothold in one way or another—homeowners, union laborers, retirees—have advocated policies that make it harder for “newcomers,” including immigrants and young people, to advance.

Here is the quote I want you to tape to your refrigerator. It’s what could be the key to the future well-being of your family. You want to live where your money (your success) is respected:

Barring a national crisis, “competition among states and cities offers the best hope.” He supports “automatic sunset provisions on new regulations. I also think it would be really valuable if more states passed rules saying, before you do a regulation, you actually need to do some cost-benefit analysis on it.”

Read more here.

Originally posted on Your Survival Guy. 

The following two tabs change content below.

E.J. Smith - Your Survival Guy

Preparing your investments and family for when disaster strikes.
E.J. Smith is the 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. 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, 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 Zilldjians. 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 and Paris. Please get in touch with E.J. at ejsmith@youngresearch.com. Sign up here to receive all the best content from Richardcyoung.com each week.

Latest posts by E.J. Smith - Your Survival Guy (see all)