Charlie Morgenstern 11 a.m., June 25
- Community Blog
- As the Sun Cafe goes on
Update San Diego, 4/26/2011
We hear every day that Governor Brown wants money from the City of San Diego.
Here is not after the County of San Diego, and Mayor Sanders keeps saying we don't have any money and we are short on the budget so we need to shut down the city. A few numbers that you may want to know of the money we do have.
CalPeRs, State of California, value $230.1E9 with a 7.74% rate of return.
Ref: Pensions & Investments, 4/21/11 pp7
SDCERS, City of San Diego, value $3.518E9.
Ref: 2010 Annual Report
County of San Diego, value $8.0E9. Chief investment officer annual pay $209,000.00.
Ref: San Diego Union-Tribune, 4/22/11 ppA2
A few other things of intrest.
The GM bailout's government remaining shares will be sold at a 40% loss, that is a loss to the tax payers. China is now using i's National currency, Yuan to buy and sell exports and imports because the American Treasury notes to them are thought of as only being worth debt. U.S. firms are now shifting jobs offshore to feed it's $1.4E12 offshore economy that is used to reduce tax payment to the U.S..
Ref: The Wall Street Journal, 4/19/11
So why are the governments broke?. We are not working, not paying payroll taxes, he government pensions are holding all the money away from us and the government in New York and Offshore investments. So what is left?. A communist soup line with government cannable trying to eat us alive with fees and permit taxes with the sweat we have left. The religious genicide nut cases are getting rid of the poor and all we can do is rot away and grind our teeth to a dead God who feels we don't need money anyway, as all it wants is a body-less slave to collect the wealth of the heavens, or is it hell?.