Time for California to revert to territorial status and lose all representatives in the Senate and the House.
Slippery slope
Heh, left wing “eddikators” apparently are not able to teach mere high school math to their students, and one wonders why their pension funds have failed?
Remember, children—after you have maxxed out all of your credit cards go to your local bank and ask to borrow some more money—they will love having you as a customer.
Lol.
LOL! Are CalSTRS and CalPERS still pretending that they’re getting 8 percent returns?
Cue up movie margin call.
Bookmark
In part explains the push to get folks back into the office v WFH.
Wow! All those investments in ESG companies must not have given them the returns they wanted! That and refusing to invest in corporations based in many Red States.
This will result in more tax avoidance and evasion by retired Californians living in Oregone or the state of Washington for spring/summer/and the fall, and shadow living in their former homes in California.
Washington state does not have a personal or corporate income tax. Many Ca. tax evaders live in Vancouver, Washington and pay no income or corporate taxes and then do their major shopping at Costco and other stores in Oregone with no sales tax.
The other giant Kalifornia pension fund is the Kalifornia Public Employees’ Retirement System (CalPers). The State workers union is so powerful they managed to get a pension guarantee into the Kalifornia Constitution. When (not if) the CalPers fund is in trouble, pensions will be paid out of the general fund. The Kalifornia taxpayers are on the hook for each and every pension.
If CalStrs has the same proviso, the Hussein/Biden Regime economy could reek havoc in Kalifornia. If any Kalifornia democRAT office holders desire to remain in office, they will bend over for these massive unions. The ongoing exodus of those who can move out of Kalifornia will just increase. There have been articles about all the CalPers retirees leaving Kalifornia for Nevada, Texas, Idaho, etc. They do not spend all that money in Kalifornia. I can see a time when Kalifornia will have its own Atlas Shrugged moments, only there will be no magical train. Just search the phrase “train to nowhere.”
Meanwhile...
https://www.cnbc.com/2023/12/12/us-pension-funds-heavily-invested-in-china-despite-crackdown.html
Real Estate is a bad investment for pension plans.
When you mix “investment” with “politics” you get (you guessed it) politics
Those that run the pension could tell the democrat party to stop with the high taxes and undermining business and the country.