Until last year, CalPERS used to brag about its distant past returns from the tech bubble and the housing bubble as evidence that its return assumptions weren't crazy.

Today CalPERS is boasting about "smart investing and strong oversight" for having a single good year, thanks to the Trump rally, after decades of underperformance.

But despite this year's 11.2% return, CalPERS' long-term returns are still getting worse, because the 10- and 20-year records are now rolling off huge returns from the 90's and 2000's tech and housing bubbles.

	20-year return	15-year return	10-year return	5-year return	3-year return
	6.08%	6.35%	3.39%	8.82%	4.64%

Despite having failed to earn 7% over the past decades, CalPERS still makes taxpayers guarantee 7% in perpetuity to government retirees, in addition to having to pay hundreds of billions for CalPERS' past failures.

One of the greatest rock movies of all time is This is Spinal Tap. The trio of Michael McKean, Christopher Guest, and Harry Shearer made up the fake band Spinal Tap. They really struck a chord with rockers because the film is so close to reality, as you can see in this blurb:

This is Spinal Tap was the first in a series of brilliant "mockumentaries" by Christopher Guest including Waiting for Guffman, Best in Show and A Mighty Wind. They all are fake documentaries and very much mimic reality according to those who participate in the activities being lampooned.

I haven't found a connection or any credits yet, but I ask, is Christopher Guest now consulting for CNN? It appears that they are truly a "mockunews" organization. They care little for the tenets of free press as illustrated here at Zerohedge. The CNN producer had this exchange with a real journalist from Project Veritas:

PV Journalist: Why is CNN constantly like "Russia this, Russia that?"

Bonifield: Because it's ratings. Our ratings are incredible right now.

My boss, I shouldn't say this, my boss yesterday we were having a discussion about this dental shoot and he was like I just want you to know what we're up against here. Just to give you some context, President Trump pulled out of the climate accords. For a day and a half we covered the climate accords. And the CEO of CNN [Jeff Zucker] said in our internal meeting, he said good job everybody covering the climate accords, but we're done with it. Let's get back to Russia.

But all the nice cutesy little ethics that used to get talked about in journalism school, you're just like, that's adorable. That's adorable. This is a business.

Ethics in journalism is adorable?!? Is CNN the next brilliant step in the mocku-entertainment movement? Zerohedge states it well in their opening line in another post on this topic:

Last week, CNN's "anonymous sources" finally came home to roost when the entertainment channel was forced to retract one of its "bombshell" Russian collusion stories, when it was apparently revealed that the whole thing was nothing more than CNN's latest, anonymously-sourced fake news debacle.

I am at loss to name my favorite mocku-entertainment character. Is it Nigel Tufnel, Gerry Fleck, or Wolf Blitzer???

This video of snowflake students at Evergeen State College is some kind of crazy.  And my goodness is Dr. George Bridges, the college president, the opposite of a leader. 

I'd just like to ask the logically challenged snowflakes at Evergreen State what happens when their right to freedom of speech is taken away?
This is a really, really well stated rebuttal to the morons at Evergreen State:

Charles Hugh-Smith on signs of the end of empire.

Ever notice how some mutual fund companies have surprisingly good performance in most or all of their mutual funds?

Here's how it's done.



Janus Fund? What's that? Never heard of it!

Janus Twenty? Sorry, can't help ya.

I'm not sure I see a difference between this horrible person, a D list failure:

And this horrible person in black:
A failure comic shows OUR president's head cut off and bloody.  Tell you what, Colin Kaepernick kneeling down doesn't seem all that unpatriotic after this.
I encourage Kathy Griffin to leave the country and give up her citizenship.  She's obviously completely un-American. 

And dear Kathy, please don't visit my neck of the wood anytime soon, or ever.  That's Pennsylvania.  We don't take kindly to traitors and terrorist as they do in Hollywood, California, or maybe Van Nuys as your case may be.      

I am a huge Formula 1 racing fan. I watch every race and I generally support the drivers that have been put through that mixer. Yesterday ex-Formula 1 driver Takuma Sato won the Indianapolis 500. It's the first Indianapolis 500 that I've watched since Nigel Mansell lost when he didn't realize that rules don't actually mean rules. He came out of a yellow flag according to regulations and he didn't realize he should have come out of the yellow flag as bat out of hell, like everyone else. He was in first, but after that, didn't finish in first.

But yesterday Fernando Alonso and Takuma Sato, from Formula 1, and there were a few others from that parish, both raced in the Indy 500.  Now the pinnacle of the auto racing world is Formula 1.  That is the series where the most amount of money and the most amount of science is applied to make cars win races.   The Formula 1 cars make Indy cars look like commuter vehicles, from a technology standpoint, certainly not a speed standpoint, because it's a lot easier to engineer a car to race around loops than it is to have to turn the steering wheel to the right occasionally.

After Sato won the race, Terry Frei of the Denver Post Tweeted: "Nothing specifically personal, but I am very uncomfortable with a Japanese driver winning the Indianapolis 500 during Memorial Day weekend,".  

Now, we are generations away from that horrible war, as all wars are, and does Mr. Frei think that we should ban Japanese drivers from the race?  I certainly don't think anyone should be banned from the race as long as they are qualified and haven't oppressed other humans.  Takuma Sato won the race and cheers to him.  Sato is world class and deserves the shot to race, and he did the most with it.

But this is where I have a problem, the Sporting News reported what I thought was a very reasonable article about the situation here.  Media idiot inserts foot into mouth; media idiot gets fired.  Yup, sounds right.

My concern is that other mainstream media outlets are reporting OTHER PEOPLES' reaction calling it racist.  When did it become the media's responsibility to report reactions instead of the news?  And I wasn't aware Japanese was a race, and I'm pretty sure it's not.  But that doesn't stop our mainstream propagandists from reporting this sort of tripe.  To be fair, they aren't saying it's racist, they are just reporting that other people are saying he is racist.  Fine lines, but I say at the least unnecessary and more likely, socially inflammatory. I say Mr. Frei isn't a racist; he's a bigot, and if he's a sports reporter he should be fired.  But there is a huge difference in the social implication.  But what do I know?  According to Mr. Panos, maybe they are all just Chinese.....
 

Who killed Seth Rich?


Oh and maybe also who is John Galt?