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It appears newsom was lying...

It appears newsom was lying...

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Mott The Hoople

Joined
05 Nov 06
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147483
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21 Jun 21

How many times will it take for people to get smart?

Another example here of dems and media/fact checkers working together to lie to you. They are trying to prevent newsoms recall.

"California offered different benefits for unemployment throughout various periods of the pandemic, with the highest being at the peak of March 29 to July 25, 2020. The state granted unemployed people $167 per week plus $600 per week of unemployment due to the coronavirus. Unemployed individuals could also qualify for Pandemic Unemployed Assistance for up to 86 weeks.

"I think every single business owner I've talked to is looking for help," Clendenen told the Washington Examiner. "Some businesses are actually having to close because there’s not enough work."


https://www.washingtonexaminer.com/news/californians-in-disbelief-of-economic-boom

no1marauder
Naturally Right

Somewhere Else

Joined
22 Jun 04
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42677
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21 Jun 21
2 edits

@mott-the-hoople said
How many times will it take for people to get smart?

Another example here of dems and media/fact checkers working together to lie to you. They are trying to prevent newsoms recall.

"California offered different benefits for unemployment throughout various periods of the pandemic, with the highest being at the peak of March 29 to July 25, 2020. The state granted ...[text shortened]... nough work."


https://www.washingtonexaminer.com/news/californians-in-disbelief-of-economic-boom
What exactly did he lie about?

The article quotes a study which shows that that California has the no.1 economy in the country and then has a few local businessmen doubting it. That's pretty laughable counter "proof".

To the stats:

"By adding 1.3 million people to its non-farm payrolls since April last year — equal to the entire workforce of Nevada — California easily surpassed also-rans Texas and New York. At the same time, California household income increased $164 billion, almost as much as Texas, Florida and Pennsylvania combined, according to data compiled by Bloomberg. No wonder California’s operating budget surplus, fueled by its surging economy and capital gains taxes, swelled to a record $75 billion.

If anything, Covid-19 accelerated California’s record productivity. Quarterly revenue per employee of the publicly traded companies based in the state climbed to an all-time high of $1.5 million in May, 63% greater than its similar milestone a decade ago, according to data compiled by Bloomberg. The rest of the U.S. was nothing special, with productivity among those members of the Russell 3000 Index, which is made up of both large and small companies, little changed during the past 10 years.

While pundits have long insisted California policies are bad for business, reality belies them. In a sign of investor demand, the weight of California companies in the benchmark S&P 500 Index increased 3 percentage points since a year ago, the most among all states, according to data compiled by Bloomberg. Faith in California credit was similarly superlative, with the weight of corporate bonds sold by companies based in the state rising the most among all states, to 12.5 percentage points from 11.7 percentage points, according to the Bloomberg Barclays U.S. Corporate Bond Index. Translation: Investors had the greatest confidence in California companies during the pandemic.

The most trusted measure of economic strength says California is the world-beater among democracies. The state’s gross domestic product increased 21% during the past five years, dwarfing No. 2 New York (14% ) and No. 3 Texas (12% ), according to data compiled by Bloomberg. The gains added $530 billion to the Golden State, 30% more than the increase for New York and Texas combined and equivalent to the entire economy of Sweden. Among the five largest economies, California outperforms the U.S., Japan and Germany with a growth rate exceeded only by China.

Enlarging its No. 1 footprint with factory jobs, California GDP from manufacturing gained 13% over the past five years to $316 billion in 2020, an increase unmatched by any of the 10 largest manufacturing states: Texas was No. 2 with 9% growth, followed by Indiana at 8%, according to data compiled by Bloomberg. For all its bluster as being “best for business,” Texas can’t match California’s innovation. California prosperity is rooted in its appeal as a worldwide destination for technology and health-care development. Of the 6,924 corporate locations in the state, 18% are research and development facilities, a ratio that easily beats the U.S. overall (11% ), China (15% ), U.K. (14% ) and Japan (10% ). Only Germany, at 19%, has a higher rate, according to data compiled by Bloomberg. The percentage of Texas facilities for R&D is less than half California’s at 8.2%.

Corporate California also is the undisputed leader in renewable energy, with 26 companies worth $897 billion, or 36% of the U.S. industry, having reported 10% or more of their revenues derived from clean technology. No state comes close to matching the 21% of electricity derived from solar energy. Shares of these firms appreciated 282% during the past 12 months and 1,003%, 1,140% and 9,330% over two, five and 10 years, respectively, with no comparable rivals anywhere in the world, according to BloombergNEF. The same companies also increased their workforce 35% since 2019, almost tripling the rate for the rest U.S. overall and four times the global rate.

Perennial water shortages and devastating fires drive the perception of dystopia. But California reigns supreme with the GDP-equivalent of $40.2 billion derived from agriculture, forest and hunting in 2020. That’s greater than the output from the next five largest states — Iowa, Washington, Illinois, Texas and Nebraska — combined, according to data compiled by Bloomberg.

Even with the economic disruptions caused by the pandemic, California cemented its position as the No. 1 state for global trade, with its Los Angeles and Long Beach ports seeing growth that led all U.S. rivals for the first time in nine years in 2020. "

"The 373 California-based companies in the Russell 2000 Index, which includes small-cap companies across the U.S., appreciated 39% the past two years and 85% since 2016, beating the benchmark’s 34% and 67%, respectively. The same California companies reported revenue growth of 56% the past five years, dwarfing the benchmark’s 34%, according to data compiled by Bloomberg. More important, California companies invested 16% of their revenues in R&D, or their future, when the rest of the U.S. put aside just 1%. "

https://www.bloomberg.com/opinion/articles/2021-06-14/california-defies-doom-with-no-1-u-s-economy

But, but Joe the Grocer says that times are bad, so the stats must be "fake".

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