1.   California prides itself that it would be one of the richest countries in the   world if it were to stand on its own feet.

1.   California prides itself on its liberal and progressive views fighting the rich who are getting richer against the poor who are getting poorer.

Wait!

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Facts are that California has the greatest poverty rate of all 50 States. 

Census Bureau: California still has highest U.S. poverty rate LINK California’s official poverty rate is above-average, but not much. However, by an alternative methodology devised by the Census Bureau, California has the nation’s highest rate of poverty with nearly a quarter of its 38 million residents impoverished, due to the state’s high cost of living

Tell me this is not true. 

If you are both the richest State, coupled with having the highest poverty rate of all the States, then by far, you have to have VASTLY GREATER income inequality of any State.

And if you have the greatest income inequality, then by your own definition, you are the least progressive and greediest E-V-I-L State imaginable.

The South is an equality and justice paradise compared to California.

All of California's Hollywood Jewish elites, all of California's techno wonder kids like Steve Jobs and Elon Musk, all the Jewish owned and Jewish controlled Internet Scions like Google, Facebook, & Netflix -- all of them are hypocrites for decrying poverty elsewhere and not addressing poverty right under their own self-righteous uplifted nose.

But hang on.  When asked to address this issue, the California elites say, as convenient exemptions for themselves, that California Progressive inequality is G-O-O-D for America!!!

A big-shot venture capitalist says we need inequality. What do economists say? LINK SAN FRANCISCO – There is an apartment for rent in a renovated former warehouse here, across the street from the Caltrain commuter rail station. It has two bedrooms and two bathrooms and nearly 700 square feet of space. It comes furnished. It is, the online advertisement proclaims, a "perfect place" for someone, like so many young startup employees today, who works in Silicon Valley but lives in the city. It could be yours for $8,525 a month.

If a working white man makes a few pennies more than a black man in Mississippi, all hell breaks loose in the Jewish MSM sphere.  But in California, if a white Jewish "entrepreneurs" makes a few billion more than the local black or Hispanic man, he is deemed a national hero and benighted by the Jewish MSM.

Yelp, this VC actually defend their inequality...

(continued) Paul Graham, a venture capitalist and one of the founders of the startup incubator Y Combinator, would have you believe this rising inequality is a good thing. Or, at very worst, the inevitable consequence of a good thing. "You can't prevent great variations in wealth without preventing people from getting rich," he wrote in an essay that went viral online last week, "and you can't do that without preventing them from starting startups."

This article will show that the income inequality in technology is not being correlated to producing greater technological progress, as one would think it should be. 

In Silicon valley, startup formation has slowed but the compensation at the top is higher than ever.

(continue) If you take that as a proxy for the Silicon Valley effect, though, you're left with a problem: 86 percent of the recent inequality increase can't be explained by innovation. You're also stuck with the fact that startup formation for tech companies has been falling for more than a decade even as inequality has been widening, and not rising, as Graham implies. Total venture capital funding remains well below late-1990s levels, even before you adjust for inflation, according to data from the National Venture Capital Association.

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Same thing is happening with Wall Street inequality that is also not producing a greater economy, as onw would also think it should be.

A black hole for our best and brightest LINK Wall Street is bigger and richer than ever, the research shows, and the economy and the middle class are worse off for it. ... The financial industry has doubled in size as a share of the economy in the past 50 years, but it hasn’t gotten any better at its core job: getting money from investors who have it to companies that will use it to generate growth, profit and jobs.

Think of finance like a water pipe to get water from the reservoir to your home.

(Continue) To understand how and why that is, think of money as water and the financial system as a series of pipes. Ideally, the pipes deliver the water from people who have stockpiled it (investors) to people who want to put it to productive use (entrepreneurs, executives, home buyers, etc.). Over the past half-century, America’s financial industry built a whole bunch of new pipes. The sector grew six times as fast as the economy overall during the past three decades. Other advanced countries didn’t see anywhere close to that growth in their financial sectors. ... Extra pipes attracted better plumbers — the more the finance industry grew, the more it tugged at highly educated workers.

Silicon Valley's brightest are being siphoned off to Wall Street.

Silicon Valley in California at least produces something of value, unlike Wall Street who drains the economy.

(Continued) In perhaps the starkest illustration, economists from Harvard University and the University of Chicago wrote in a recent paper that every dollar a worker earns in a research field spills over to make the economy $5 better off. Every dollar a similar worker earns in finance comes with a drain, making the economy 60 cents worse off. ... Those finance pros could have been doctors or researchers or product engineers. They could have gone into the business of solving human problems, commercializing big ideas and creating jobs. Almost anything they could have done, by Philippon’s calculations, would have added more value — more growth and job creation — to the economy.

Finance is all about, "Follow the money"

(continue) Philippon is a French economist at NYU’s Stern School of Business. He and a co-author, Ariell Reshef of the University of Virginia, have shown that from the end of World War II until the early 1980s, finance was just like any other desk job: The average Wall Street worker was paid about as much as the average worker in the private sector and was only slightly more educated. But starting at about the time that Jackson joined Goldman, when Congress began tweaking investment-tax rates, Wall Street started drawing more educated workers. This made the average finance salary go up — from less than $50,000 a year in 1981 (which is about $100,000 in today’s dollars) to more than $350,000 a year in 2012.

In fact, thanks to the computer and communications revolutions of Silicon Valley, you would think that making electronic trades such as the average investor can now make with  on-line trading tools like Scottrade, over old fashioned hand trades, would drastically reduce the cost of finance in the economy.

Not the case.

(continued) Philippon tracked the fees that banks and other asset managers take when they move money between investors and borrowers. In theory, the managers should charge less as their technology improves, because they become more efficient and more competitive with one another. (Or, if they charge the same amount, they should generate better returns for investors.) That’s how it works with, say, your laptop: As the technology improves, you can either buy a better computer for the same price as your last one or you can buy a clone of your last one for less. In finance, Philippon found, the opposite is true. Financial firms pocket about 2 percent of the money that passes through their hands. That’s basically unchanged from the price of finance in 1920, and it’s actually an increase from the mid-1960s. “It seems that improvements in information technologies over the past 30 years have not necessarily led to a decrease” in the price of financial intermediation, he concluded in the paper. What that means is that the growth of complex financial products has served primarily to boost income for the firms themselves, Philippon said.

Your Jewish 401k manager in Wall Street is taking you for a sucker.

As a recent NPR Frontline expose informs about the way 401ks actually work when you hand your money over to a Wall Street manager,


Your Jewish 401K manager is not making you rich, he is making himself rich.

And he is using your money to buy stocks in your company so he can place a Jewish friend on the Board of Directors, who will dictate your employment. Most likely, laying you off as he moves operations to China, or laying you off to replace you with a Chinese worker.