Portfolio Return as of 08/12/22:
2020: 25.65%
2021: 29.15%
YTD: 6.2%

Wednesday, April 13, 2022

California Crazy and BLM Racket

This Headline from the Los Angeles Times was eye catching. 

Proposed bill would shorten California workweek to 32 hours.

Here’s what you need to know:

“The bill, AB 2932, would change the definition of a workweek from 40 hours to 32 hours for companies with more than 500 employees.”

Companies would be prohibited from cutting the pay of workers – so effectively every worker covered by the law would be getting a 20% mandatory pay raise.

France and many other Western European nations tried this in the 1980s and it led to the deindustrialization of these countries, before they abandoned the ruinous experiment.

I wonder if the geniuses in Sacramento who are plowing this bill forward have any idea where the money will come from so that workers can be paid more to produce less. It’s a very good way to move all manufacturing out of California. Some employers will simply try to raise prices to make up for the higher labor costs, which will only make inflation worse.

Brilliant. And Governor Gavin Newsom may just be dumb enough to sign the bill into law if it gets to his desk.

Media Finally Discovers Black Lives Matter A Racket

It’s taken two years, but media reporters have finally woken up to the corrupt money-raising racket that goes by the name of Black Lives Matter.

Stephen Crockett of the HuffPost, has written an eye-opening essay called “The Business of Black Death.”

He points out that in 2020, Black Lives Matter took in $90 million with precious little evidence of where the money went.

New York Magazine reports the group took $6 million of donations secretly buy a 6,500 square foot mansion in Los Angeles. Black Lives Matter co-founder Patrisse Cullors, a self-avowed Marxist, purchased four homes for some $3.2 million. Right on cue, Cullors responded by saying it was both “sexist” and “racist,” to challenge how the money has been spent. These shysters are very adept at deflecting criticism.

The late Darren Seals, a fierce opponent of police brutality in Ferguson, Mo., complained for years that BLM was “just collecting checks” and that none of the programs have for “the youth or funerals or other programs…We are back at square one, back where we started. No justice, no nothing.”

No comments:

Post a Comment

Thanks for the comment. Will get back to you as soon as convenient, if necessary.

Inflation Reduction Act: Will Never Reduce Inflation

Joe Biden signed into law the horrific Inflation Acceleration Act – which, as you know, increases government taxes and spending by roughly A...