California drops from the fourth largest to fifth largest economy in the world due to disasterous leftist policies.

https://kfiam640.iheart.com/content/2025-10-15-california-drops-to-fifth-largest-global-economy/

Lets hope it drops further.

It'll be sixth largest by next year.

Quote from: Oerdin on October 16, 2025, 04:04:03 PMCalifornia drops from the fourth largest to fifth largest economy in the world due to disasterous leftist policies.

https://kfiam640.iheart.com/content/2025-10-15-california-drops-to-fifth-largest-global-economy/

It's bigger than Canada's economy and Canada has more people.

California's government just passed a bill to spend $5 million buying alcohol for homeless people claiming it is "harm reduction".  They already pay to give free drugs to homeless people.

In this thread some posts have mentioned the exodus of people from deep progtard states.

I heard the other day that liberals don't integrate they infiltrate. Now I hope Californians and New Yorkers stay in their own states.

California State Retirement Fund Lost 71% of $468 Million Clean Energy Investment



The California Public Employees' Retirement System (CalPERS) for state employees lost 71 percent of a $468 million private equity investment into clean energy.

Because CalPERS pension benefits are only 79 percent funded, the California taxpayer and state government have to make up for the other 21 percent. CalPERS committed $465 million to the private equity CalPERS Clean Energy & Technology Fund (CETF) in 2007, ultimately paying in $468,423,814. Since then, the cash out and remaining investment value of the investment fund has declined to $138,045,373, as of March 31,2025.

That's a loss of 71 percent, or more than $330 million, for which private equity firms were paid at least $22 million in fees and costs.

Marc Joffe, a public finance expert and visiting fellow at the California Policy Center, questioned why CalPERS has placed a significant amount of money into far riskier and more costly private equity investments when returns were nearly equal to public equity investments.

"Returns were similar ... so why go through all the trouble — if you can get these kinds of returns on the public markets, why bother with all the complexities and the illiquidity involved in private equity?" Joffe told The Center Square.

Joffe noted that the 71 percent loss in the CETF investment exemplified the "combined dangers of private equity and ESG investment," wherein "a very opaque investment choice appears to have been chosen because of its green credentials, and yet it's now generated a huge loss for taxpayers and retirees."

https://www.breitbart.com/politics/2025/10/28/california-state-retirement-fund-lost-71-percent-468-million-clean-energy-investment/

Quote from: Oliver the Second on October 28, 2025, 10:02:42 PMCalifornia State Retirement Fund Lost 71% of $468 Million Clean Energy Investment



The California Public Employees' Retirement System (CalPERS) for state employees lost 71 percent of a $468 million private equity investment into clean energy.

Because CalPERS pension benefits are only 79 percent funded, the California taxpayer and state government have to make up for the other 21 percent. CalPERS committed $465 million to the private equity CalPERS Clean Energy & Technology Fund (CETF) in 2007, ultimately paying in $468,423,814. Since then, the cash out and remaining investment value of the investment fund has declined to $138,045,373, as of March 31,2025.

That's a loss of 71 percent, or more than $330 million, for which private equity firms were paid at least $22 million in fees and costs.

Marc Joffe, a public finance expert and visiting fellow at the California Policy Center, questioned why CalPERS has placed a significant amount of money into far riskier and more costly private equity investments when returns were nearly equal to public equity investments.

"Returns were similar ... so why go through all the trouble — if you can get these kinds of returns on the public markets, why bother with all the complexities and the illiquidity involved in private equity?" Joffe told The Center Square.

Joffe noted that the 71 percent loss in the CETF investment exemplified the "combined dangers of private equity and ESG investment," wherein "a very opaque investment choice appears to have been chosen because of its green credentials, and yet it's now generated a huge loss for taxpayers and retirees."

https://www.breitbart.com/politics/2025/10/28/california-state-retirement-fund-lost-71-percent-468-million-clean-energy-investment/

Yet Blackrock wants to divest pension funds of traditional energy sources.