07/17/2018

News

CalPERS beats earnings target for second consecutive year

For the second year in a row, California’s main public pension fund beat its investment return forecast. The California Public Employees’ Retirement System reported Thursday that it had an 8.6 percent return on investments for the fiscal year that ended June 30 — exceeding its expectation of a 7 percent return.

Slow website
Read More

San Francisco metro area has lost 31,000 home-owning families in 10 years

Looking at data from the U.S. Census Bureau, RentCafe found the number of families with children who own their homes in the San Francisco metro area has dropped dramatically, while an increasing number are renting. . . . Researchers at the apartment search site found a 10 percent decrease in homeowner families, meaning 31,000 fewer […]

Read More

Why Does the Left Want Universal Health Care? Britain’s Is on Its Deathbed

The U.K.’s government-run healthcare system, the National Health Service, turns 70 this month. There’s not much to celebrate. The NHS is collapsing. Patients routinely face treatment delays, overcrowded hospitals, and doctor shortages. Even its most ardent defenders admit that the NHS is in crisis. Yet American progressives want to import this disastrous model. About one […]

Read More

The Long-run Effects of Teacher Collective Bargaining

Teacher collective bargaining is a highly debated feature of the education system in the US. This paper presents the first analysis of the effect of teacher collective bargaining laws on long-run labor market and educational attainment outcomes, exploiting the timing of passage of duty-tobargain laws across cohorts within states and across states over time. Using […]

Read More

The Economy Is Growing Faster Than the Government Says

If you’re looking for the most accurate view of economic growth, you won’t find it in the government’s top-line statistics. Last month the Bureau of Economic Analysis revised its estimate for the first quarter of 2018; the BEA now says gross domestic product grew 2%, annualized, down from the previous figure of 2.2%. This dramatically […]

Site has paywall
Read More

‘Give People Money’ and ‘The War on Normal People’ Review: The Cure for Poverty?

The concept of a universal basic income, or UBI, has become part of the moral armor of Silicon Valley moguls who want a socially conscious defense against the charge that technology is making humanity obsolete. The logic of UBI runs that if every adult received $12,000 annually in free, unfettered cash, then we would not […]

Site has paywall
Read More

At state level, GOP renews push to require ‘supermajorities’ for tax hikes, imperiling progressive agenda

At least 14 states already have supermajority tax requirements, according to a 2017 tally by the National Conference of State Legislatures. They include some states that Democrats are hoping to take back this year, such as Wisconsin and Michigan. In three additional states — Florida, Oregon and North Carolina — conservative lawmakers and business groups […]

Read More

Unintended consequences of new privacy law?

Late last month, the Legislature enacted a 9,900-word bill purporting to protect Californians’ personal and financial information from being revealed without their permission. This legislation was hastily drafted to persuade San Francisco developer and privacy advocate Alastair Mactaggart to drop an initiative ballot measure on the same issue that he had qualified for the November […]

Read More

Environmentally minded Californians love to recycle — but it’s no longer doing any good

Californians dutifully load up their recycling bins and feel good about themselves. They’re helping the environment and being good citizens. But their glow might turn to gloom if they realized that much of the stuff is headed to a landfill. That’s because there’s no longer a recycling market for a lot of the paper, cardboard, […]

Read More

Trash piles up in US as China closes door to recycling

Last year, China bought up more than half of the scrap materials exported by the United States. . . . Globally, since 1992, 72 percent of plastic waste has ended up in China and Hong Kong, according to a study in the journal Science Advances. But since January, China has closed its borders to most […]

Read More

Can Wyoming’s wind be harnessed … to power California?

The push toward wind is playing out in a high-rise office building 100 miles south of Wyoming’s capital in Denver. There, TransWest Express is laying out plans to build a 730-mile transmission line across the American West. CEO Bill Miller points to a map and the start of the project — 1,000 wind turbines to […]

Read More

The roiled solar power market shows how Trump’s tariffs can disrupt an industry

Prices on solar panels did rise last summer as the Trump administration publicly considered the tariffs, mostly on imports from China and other Asian countries. That caused U.S. companies to scramble to purchase as many foreign panels as they could to beat the looming duties. The higher prices led two U.S. manufacturers to say they’d […]

Read More

Tesla to Build Auto Factory in Shanghai

Tesla Inc. will build a factory in Shanghai, the city government announced on Tuesday, a move expected to boost sales in the world’s largest auto market but one that could also draw fire as U.S. manufacturers face political pressure to keep jobs at home. The electric-car maker will set up a plant with an annual […]

Site has paywall
Read More

The Next Gov. Should Set Goals to Break California’s Dickensian Economy

Yes, California has much to celebrate. We are home to the most formidable tech companies on the planet with half of the world’s tech billionaires living in Silicon Valley. State coffers bulge with historic budget surpluses fed by unprecedented revenues. Our economy enjoys utopian levels of unemployment and is ranked as the world’s 5th largest. […]

Read More

Coy about taxes and pension costs

So why are so many local entities feeling strapped? Local officials will tell you, if you don’t quote them by name, that it’s mostly because their mandatory payments into the state’s two big pension funds are soaring. The California Public Employees Retirement System (CalPERS) and the California State Teachers Retirement System (CalSTRS) lost tens of […]

Read More