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California's budget is directly tied to the stock market. The state relies heavily on capital gains taxes. I remember when the left was telling me how great CA is doing. Well, yeah, it was doing great because the stock market (The Evil Wall Street, lol) rocketed out of pandemic lows! Last year, CA had a huge budget surplus, next year a massive budget deficit is in the forecast.
I wonder if they invested in any crypto.....CALPERS did but won't say how much.
And they are also big on ESG investing...several of these companies are not meeting their stated goals and are subject to penalties.
$25 Billion? Isn't that what they spend per year to take care of their Illegal Aliens? Of course this year with about a Million more flocking to that state plus the cost of inflation is it any surprise that the state would be in the red?
Speaking of Red, we all need to remember the crime, and mess that CA is so we don't end up with a President Newsom in 2024....
I wonder if they invested in any crypto.....CALPERS did but won't say how much.
And they are also big on ESG investing...several of these companies are not meeting their stated goals and are subject to penalties.
A lot of 401k and pension plans are invested in crypto. So even if you think you're not exposed, you are. There are publicly traded companies that are crypto based.
$25 Billion? Isn't that what they spend per year to take care of their Illegal Aliens? Of course this year with about a Million more flocking to that state plus the cost of inflation is it any surprise that the state would be in the red?
Speaking of Red, we all need to remember the crime, and mess that CA is so we don't end up with a President Newsom in 2024....
$25 billion is a big chunk of change, even in California.
California spent a lot of their surpluses on Golden State Stimulus and Inflation Relief (buying votes). I wish we spent those surpluses on infrastructure!!! (Jobs) Roads Roads Roads and city rail (not a dime to HSR).
California's budget is directly tied to the stock market. The state relies heavily on capital gains taxes. I remember when the left was telling me how great CA is doing. Well, yeah, it was doing great because the stock market (The Evil Wall Street, lol) rocketed out of pandemic lows! Last year, CA had a huge budget surplus, next year a massive budget deficit is in the forecast.
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