Tech giant Nvidia’s stock value has seen meteoric growth—climbing about 190 percent and accounting for about one-third of S&P 500 gains over the past year—and California’s revenues are exceeding expectations as a result, but analysts warn that relying on high tech and the AI industry is leaving the state vulnerable to market fluctuations.
Revenues exceeded expectations by $7 billion compared with June forecasts, though the nonpartisan Legislative Analyst’s Office cautioned the gains are “on shaky ground” in an annual fiscal outlook released Nov. 20.
“While of course the revenue recovery rebound we’ve seen since the June estimate is favorable, because it rests upon stock market appreciation, that to us feels more precarious than if it were built upon more broadly based job growth in the state [and] consumer spending,” legislative analyst Gabriel Petek said during a press conference announcing the report. “When it’s based on the markets, the market sentiments can change quickly, very quickly. It’s very unpredictable.”
Bonuses and stock option compensation at four companies—Nvidia, Apple, Meta, and Alphabet—accounted for nearly 10 percent of California’s total income withholding tax collected in the first six months of 2024, according to the report.
A market correction in Nvidia’s stock price could lower state revenues by as much as $3 billion, deputy analyst Brian Uhler said during the press conference. […]
— Read More: www.theepochtimes.com
Controlling Protein Is One of the Globalists’ Primary Goals
Between the globalists, corporate interests, and our own government, the food supply is being targeted from multiple angles. It isn’t just silly regulations and misguided subsidies driving natural foods away. Bird flu, sabotaged food processing plants, mysterious deaths of entire cattle herds, arson attacks, and an incessant push to make climate change the primary consideration for all things are combining for a perfect storm to exacerbate the ongoing food crisis.
The primary target is protein. Specifically, they’re going after beef as the environmental boogeyman. They want us eating vegetable-based proteins, lab-grown meat, or even bugs instead of anything that walked the pastures of America. This is why we launched a long-term storage prepper beef company that provides high-quality food that’s shelf-stable for up to 25-years.
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