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Note how the stock market saved them. It's not a coincidence that there is an organized effort to inflate markets. It's the only way that the average american s
by anm89 5y ago
Note how the stock market saved them. It's not a coincidence that there is an organized effort to inflate markets. It's the only way that the average american state, city, municipality, or anything with a pension can stay solvent.
- jwhitlark 5y agoNotice how much of the stock market is actually in their state. Even if the market is overvalued, there is still a tremendous amount of value created in California. I wouldn't make the blanket argument that you get what you pay for, in government or anywhere else, but you very rarely get what you don't pay for.
- anm89 5y agoI honestly cannot figure out what you are getting at here. You are definitely correct that California has a massive economy. I'm not really commenting on California's economy or anyone else's though. I'm simply saying California and things like CalPERS are reliant on high equities valuations to maintain their solvency.
- jwhitlark 5y agoFair enough. I'm trying to link up these liabilities with the growth I think they originally supported, but I'm not articulating it well, and likely read too much into your comment. Thank you for asking a question instead of resorting to a flame war. I'll try to come up with a better way to get my point across.
- mycall 5y agoWhen the stock market is high, isn't that the best time to divest and distribute value into other instruments?