How to Create Affordable Abundance in California
How to Create Affordable Abundance in California
California has one of the highest costs of living in the United States. California also is one of the most inhospitable places to run a business in the United States. And despite being blessed with abundant energy and an innovative tradition that ought to render the supply of all basic resources abundant and cheap, California...
By Edward Ring
The Financial Impact of Pension Obligations on Ventura County
The Financial Impact of Pension Obligations on Ventura County
“The rare problem of high pensions going to top public executives was solved last year by state legislation. Pensions will now be based on the salary cap for Social Security taxes: $117,000… The highly exaggerated “unfunded liability” problem is resolving as the stock market and tax revenues recover from the recession. The Ventura County Taxpayer Association’s...
By Edward Ring
Government Employee Unions – The Root Cause of California's Challenges
Government Employee Unions – The Root Cause of California's Challenges
Spokespersons for California’s government employee unions perpetuate a myth of staggering absurdity and tragic consequences – that they are protecting working Californians from wealthy corporations and wealthy individuals. The reality is that government employee unions are focused on one thing: Expanding government employee pay, benefits and privileges. This requires expanding government, and that priority comes...
By Edward Ring
Examining the CalSTRS Shareholder Bailout
Examining the CalSTRS Shareholder Bailout
“CalSTRS has a $70-plus-billion unfunded liability – even with assumed investment earnings that Brown deems ‘highly unlikely’ – and says it needs about $5 billion more a year to regain solvency.” – Dan Walters column, “Brown budget reflects state’s massive debt,” May 25, 2014, Sacramento Bee Those “investment earnings” that Walters quotes Brown as finding...
By Edward Ring
California’s Green Bantustans
California’s Green Bantustans
One of the core barriers to economic prosperity in California is the price of housing. But it doesn’t have to be this way. Policies designed to stifle the ability to develop land are based on flawed premises. These policies prevail because they are backed by environmentalists, and, most importantly, because they have played into the...
By Edward Ring
A "Left-Right Alliance" Against Public Sector Unions?
A "Left-Right Alliance" Against Public Sector Unions?
Consumer advocate and left-wing activist Ralph Nader has just written a book entitled “Unstoppable: The Emerging Left-Right Alliance to Dismantle the Corporate State.” In a Salon interview published on May 2, Nader lists five areas where the left and right can agree on policy goals: (1) controlling security state overreach, (2) eliminating corporate welfare, (3)...
By Edward Ring
Conservative Politicians and Public Safety Unions
Conservative Politicians and Public Safety Unions
As reported by investigative journalist John Hrabe, conservative gubernatorial candidate Tim Donnelly has accepted money from public safety unions in his legislative campaigns. His support from unions wasn’t a momentary lapse in judgement. As cited in Hrabe’s reports, his past candidacies have also benefited from independent expenditure campaigns funded by public sector unions. To not report...
By Edward Ring
The Unholy Trinity of Public Sector Unions, Environmentalists, and Wall Street
The Unholy Trinity of Public Sector Unions, Environmentalists, and Wall Street
Taken at surface value, there ought to be minimal identity of interests between these three special interests. But if you follow the money and power instead of the rhetoric and stereotypes, you will find this unhealthy alliance is alive and thriving. For example, unions use “greenmail,” the threat of a lawsuit on environmentalist grounds, to...
By Edward Ring
Public Pension Solvency Requires Asset Bubbles
Public Pension Solvency Requires Asset Bubbles
The title of this post expresses what is probably the greatest example of a monstrous hypocrisy – that public employee unions, and the pension funds they control, are supposedly helping the American economy, and protecting the American people from “the bankers.” Overpriced “bubble” assets caused by banks offering low interest rates hurt ordinary working people...
By Edward Ring
How Will "Ambush" Union Elections Affect Silicon Valley's Libertarians?
How Will "Ambush" Union Elections Affect Silicon Valley's Libertarians?
Despite being one of the biggest strongholds of Democratic power in the United States, there are almost no unions representing private sector workers in the Silicon Valley. But a new NLRB ruling that takes effect next month is going to make it much easier to organize workers. Here, quoting from a March 26th Inside Counsel...
By Edward Ring
San Jose's Public Safety Pensions – Reduce Now or Slash Later
San Jose's Public Safety Pensions – Reduce Now or Slash Later
“Once people get the facts, they do not support slashing people’s pensions.” – Dave Low, chairman, Californians for Retirement Security (Washington Post, February 25, 2014) Really? Making sure “people get the facts” is difficult when most “facts” the public sees are promulgated to the media by pension fund PR departments eager to preserve the torrent...
By Edward Ring
Government Unions Attack Free-Market Nonprofits via Pension Funds
Government Unions Attack Free-Market Nonprofits via Pension Funds
“The AFT will be looking more closely at those who are supporting the dismantling of defined benefit plans at the state and municipal level.” – Ranking Asset Managers, A Retirement Security Report on Money Managers for Pension Fund Trustees, March 5, 2014 As reported in a Washington Examiner editorial on April 4th, the American Federation...
By Edward Ring
Construction Unions Should Fight for Infrastructure that Helps the Economy
Construction Unions Should Fight for Infrastructure that Helps the Economy
One primary reason California has the highest cost-of-living (and cost of doing business) in America, combined with a crumbling infrastructure, is because California’s construction unions have allied themselves with environmental extremists and crony “green” capitalists, instead of fighting for what might actually help their state. California’s construction unions ought to take a look around the...
By Edward Ring
Add ALL Public Workers to Social Security
Add ALL Public Workers to Social Security
“I think expanding Social Security benefits is incredibly important… the current Social Security benefits are not covering the cost of living for seniors.” – Shenna Bellows, Democrat, candidate for U.S. Senate, Maine, as quoted in Fiscal Times article “Liberal Dems’ New Goal: Boost Social Security Benefits,” The debate over what role, if any, government should...
By Edward Ring