“They will keep struggling until the economy levels off. This is just a reflection of the bad economic situation we’re living in with high unemployment and lower income.”-Maria Pia Chaparro, UCLA researcher

20 November 2012, according to reports from Rhodium Group, and Asia Society, California is now the top U.S. state for investments from Chinese investors, accounting for at least 25% of all Chinese investments (more than New York, Texas, Illinois and North Carolina combined).

In the past 12 years China has invested $1.2 billion USD into California.  According to Rhodium Group, that’s expected to rise as high as $60 billion in the next eight years! Yet, for all the money China is throwing at the Golden State, the U.S. Census Bureau (The Research SUPPLEMENTAL POVERTY MEASURE: 2011) says California now has the highest rate of poverty in the United States; 23.5%, or one in four Californians in poverty!  (Florida is second worst with 19.5%)

“We’re seeing a very slow recovery, with increases in poverty among workers due to more new jobs which are low wage…..California is struggling more because it’s relatively harder there to qualify for food stamps and other benefits.”-Timothy Smeeding, University of Wisconsin-Madison economist

The Census Bureau is using new poverty measures which finally take into account the cost of living (even including the taxes you pay), and California’s outrageous cost of living/taxation is the prime reason for the huge jump in official federal government poverty ratings.  (I used to live there, and between the cost of living/taxation and overwhelming number of ludicrous laws I am amazed the people haven’t held a full blown revolution. No problem going on the rampage after the Rodney King verdict, but when it comes to the economy and their livelihoods I guess they like being raped by the Man)

But other reports say that while more and more working class Californians are hitting the skids, the rich elites are not only still making money, they’re making more and more money!  Evidence of that is how much money rich Californians gave to political campaigns: “It’s very hard to pass an initiative, but it’s not that hard to defeat an initiative if you have money on your side.”-Kim Alexander, California Voter Foundation

According to MapLight rich Californians gave an estimated $350 million to support, or fight, the 11 propositions Californians just voted on.  And that’s got to be lowballed, because, according to the Associated Press, just two rich Californians spent nearly $100 million trying to influence the voters on such things as higher taxes on out of state companies and making it easier for insurance companies to change their rates.

But while rich Californians are willing to spend money on elections, they don’t seem willing to spend money on bettering the economy. Back to the Chinese investors.

According to Chinese media reports, continued Chinese investing hinges on the U.S. Congress’s recent extension of the EB-5 visa program: “Under EB-5, an applicant is given permanent U.S. residency if his investment of at least $1 million leads to 10 full-time jobs within two years. The threshold is just $500,000 if the jobs created are in a rural or high unemployment area of the U.S.”-China Daily

This means that Chinese investing also involves people from China being able to move to the United States, as one California mayor admitted: “This can guarantee a steady rate of return for stimulating purchases of bonds (for publicly funded development projects), and people are able to immigrate because of EB-5, so you’ll see more of this in California.”-Jean Quan, mayor of Oakland

The Oakland mayor said that Chinese middle and upper income earners want to take advantage of the EB-5 program, as did Oakland businessman, Tom Henderson, who said his Chinese clients want to move to California through the EB-5 program which will help create new jobs:  “We are bringing in $100 million to Oakland alone. Over the next 18 months, we’ll create 2,000 jobs in Oakland through the EB-5 program.”

The fact that California’s officials are putting so much of their hopes on China to save them economically, and that the U.S. rich have money but are spending it on things that do not stimulate the economy (California is considered the billionaire capitol of the world!), is proof that the elitist rich in the United States are unAmerican and a threat to U.S. National Security.