Get woke, go broke: Blue states along America’s west coast on the brink of collapse as ESG investing fails
08/16/2023 / By Richard Brown
“Get woke, go broke.” This, more or less, encapsulates the broader decline of Democrat-run states along the western coast of the United States.
Democrats have long espoused Environmental, Social and Governance (ESG) investing, which Republicans view as a departure from free market capitalism. This is an investment approach that prioritizes environmental, social and governance factors or outcomes. It considers the impact of a company’s activities on the environment; takes into account a company’s impact on society; and evaluates a company’s corporate governance practices.
But ESG investing suffers from a lack of standardization, limited investment options, higher fees, lower financial returns, subjectivity and potential for greenwashing. The recent collapse of Silicon Valley Bank from Santa Clara, California, serves as a symbolic representation of ESG investing’s failure. (Related: Get woke, go broke: SVB’s focus on ESG led to its collapse.)
This financial institution, which also maintained branch offices on the eastern coast, primarily operated within the left-leaning corridor encompassing Los Angeles, San Francisco, Portland and Seattle.
A key hub for the proliferation of ESG investment, the bank was deeply engaged in policies related to ESG investing and Diversity, Equity and Inclusion (DEI), positioning itself as a model for “woke capitalism.”
In light of diminishing financial resources, corporate entities are quietly and rapidly removing ESG terminology from their public platforms and reports.
The governance model of Silicon Valley Bank mirrored the approach of California, Oregon and Washington State – prioritizing far-left ideologies and aspirations of progressive utopia at the potential expense of other critical factors, including the economy and public security.
It’s important to acknowledge that this wasn’t always the case. Critics point out that states like California thrived under Democratic leadership in past decades, but it’s important to recognize the shift in the Democratic landscape over the past several years.
ESG and DEI were not central missions for Democrats two decades ago. Additionally, the management of west coast policies was historically more balanced, involving greater conservative participation.
People fleeing Democrat-run cities
The shift has led to a population exodus from nearly every major coastal city over the last three years. Factors such as birth/death ratios and illegal immigration aside, significant numbers have left these areas.
Los Angeles County, for instance, experienced an outflow of over 300,000 residents since 2020. The Bay Area saw a decline of 250,000 individuals, and Portland witnessed a rapid population decrease of three percent within two years. Seattle, currently, is the exception.
Beyond pandemic-related lockdowns and mandates, left-leaning policies leading to social instability and increased crime are contributing to the exodus. (Related: American cities run by Democrats see 50% decline in activity – people are fleeing.)
The impact of these policies is evident in crime rates that, in some cases, are not fully reported or recognized until 2025.
California’s Prop 47, which reduces theft under $950 to a misdemeanor, exemplifies this trend. The rise in property crime often correlates with an increase in violent crime. Woke laws and attempts to defund police have emboldened criminals, leading to heightened criminal activity.
San Francisco, for example, has experienced a nearly eight percent increase in violent crime over three years, along with a 20 percent increase in property crime and a 17 percent rise in homicides. The region’s escalating costs and growing poverty levels have also contributed to the exodus. High taxes, inflation, and stagnant wages are all factors.
Precursor to larger decline?
The challenges faced by the west coast should be viewed as a warning for the rest of the country.
Regions governed by far-left ideologies are facing destabilization, raising concerns about the potential implications for the entire nation. Addressing this issue on a national scale is crucial.
The decline of the west coast, and parts of the east coast, might indeed be a precursor to a larger nationwide decline.
In such a scenario, one possible solution is a reevaluation of power dynamics to counter the progression of these decay-inducing ideologies.
Visit Wokies.news for more news about woke policies.
Watch this video to learn more about ESG.
This video is from the GoneDark channel on Brighteon.com.
More related stories:
China-compromised ESG firm expands its reach in Biden White House.
ESG is a globalist ‘scam’ meant to usher in ‘One World Government’: James Lindsay.
ESG fraud exposed: FTX was awarded higher score on “Leadership and Governance” than ExxonMobil.
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anarchy, big government, bubble, California, chaos, collapse, dangerous, debt collapse, DEI, democrats, economic decline, ESG, free market, left cult, national security, Oregon, panic, Silicon Valley Bank, violent crime, West Coast, woke mob, wokies
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