Where does the money flow? (October 18, 2015)

Town of Apple Valley and others argue that they don’t want private Ranchos Water profits going out of country. Canada is known to be the U.S. #1 trading partner with China being #2 followed by Mexico our other neighbor.

In recent California Legislative hearings regarding CalPERS retirement portfolio performance, the managers stated that in order to even attempt to achieve the desired 6% target return objectives, they invest a sizeable portion into Mexican companies. Last week, Bloomberg reported that CalPERS is now investing a portion of their investments in Russia companies.

Are we getting anything in return for this high risk investment transfer should also be asked? And where does it flow — back into TOAV employee / councilmembers pockets in their future? Very interesting factoid.

— Al Rice, Apple Valley taxpayer

Published: Daily Press, November 2, 2015