California exported goods valued at $13.33 billion in November, down 5.3 percent from $14.07 billion in November 2011, according to an analysis of Friday's U.S. Commerce Department trade figures by Beacon Economics, a consulting firm with offices in the Bay Area and Los Angeles. Read more here: http://www.sacbee.com/2013/01/12/5109173/california-exports-fell-in-november.html#storylink=cpyI am not calling it yet. I have CoAmerica and the activity indicators down, Ceridian has California down; but let's give Jerry and the Jim Crows another week to lie about the economy. How's the pension fund? Last I look, San Diego had a surprise $40 million union pension charge, they will lay off 250 union workers. The pension fund is not even earning 1% and they need 7% to fund their fraud. Sacramento 'discovered' a $450 million pension charge, likely requiring the lay offs of another 250 union workers over the next ten years. Likely, losses in the pension fund will cost something like 1500 public sector jobs this year. Boy, it must be fun to be an idiotic union member.
But some good news on pensions:
California's massive public employee pension system gained more than 13% in investment returns last year, most of it from stocks and real estate, the agency said. It was the best year for the California Public Employees' Retirement System since 2006, when the fund gained 15.7%. CalPERS investments were up 1.1% in 2011 as it struggled to regain its footing after the Great Recession.Not bad in a difficult investment environment, but stocks and real estate will take a bit of a plunge during the national recession. When is the national recession coming? Dunno yet.