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.

California illegally issued thousands of commercial driver's licenses, according to the U.S. Department of Transportation.

A Wednesday morning press release from the department claimed that the state's Department of Motor Vehicles "has admitted to illegally issuing 17,000 non-domiciled Commercial Driver's Licenses (CDLs) to dangerous foreign drivers."

Those who were issued the allegedly illegal licenses have been notified that those licenses no longer meet federal requirements and will expire in 60 days.

The DOT credited the findings to the Federal Motor Carrier Safety Administration's ongoing nationwide audit of non-domiciled CDLs. The review revealed "systemic policy, procedural, and programming errors in California's non-domiciled CDL program," the department reported.

Gavin Newsom tried to criticize the rise in energy costs under the Trump administration — and then was reminded that his state pays the highest costs for power.

In a social media post published Tuesday, the liberal governor tried to blame rising energy prices on President Donald Trump's global warming skepticism. The governor attended the COP30 climate change conference in Brazil and blasted the administration's policies.

"Electricity cost have risen 64% since 2020 as Newsom has promoted 'green' energy and chased away investment in cheap, reliable power. Gavin Newsom and the Democrats have NO credibility on the affordability issue," replied Corey Uhden, a regional development officer of the California GOP.

"Gavin Newsom is in Brazil touting his failed energy agenda — the same one that's left Californians paying some of the highest gas and electricity prices in the nation," replied Rep. Vince Fong (R-Calif.). "After harming our state's domestic energy production, California now relies on foreign oil — and imports from Brazil have increased to 20% of our imported supply."

"Gavin Newsom is probably the last person on the planet who should talk about energy affordability. Under his failed leadership California has the highest electricity rates in the lower 48 [and the] highest gas prices in the country," replied Rep. Ken Calvert (R-Calif.).

The White House piled on through a statement from a spokesperson.

"Governor Newscum flew all the way to Brazil to tout the Green New Scam, while the people of California are paying some of the highest energy prices in the county. Embarrassing!" said Taylor Rogers. "If Gavin News

• m's support for the climate agenda was sincere, he would not be attending a climate summit that required chopping down thousands of acres of protected Amazon rainforest for a special purpose highway. It's time for Newscum and other countries to drop the climate facade!"

QuoteGavin Newsom tried to criticize the rise in energy costs under the Trump administration — and then was reminded that his state pays the highest costs for power.

How could he say that with a straight face.