May 5, 2026
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Author: Jay Rogers

Jay Rogers is a financial professional with more than 30 years of experience in private equity, private credit, hedge funds, and wealth management. He has a BS from Northeastern University and has completed postgraduate studies at UCLA, UPENN, and Harvard. He writes about issues in finance, constitutional law, national security, human nature, and public policy.

California’s Taxpayer Compact Is Being Looted From Both Ends

March 12, 2026   3:00 pmMarch 12, 2026   3:01 pm
There is a particular kind of fiscal irrationality that only single-party government can sustain with a straight face. California Governor Gavin Newsom demonstrated it again on February 20, 2026, when his administration announced $35 million in new “humanitarian funding” to...
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CalPERS Still $153 Billion Underwater Despite Near Record Returns

March 12, 2026   8:06 amMarch 12, 2026   8:06 am
Thirty years of running hedge funds, private equity deals, and now outsourced CIO roles for ultra-high-net-worth family offices taught me one ironclad rule. Optimistic assumptions in a spreadsheet are just fraud wearing a tie. I watched markets crash in 2008...
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California’s $125 Billion Death Spiral

March 8, 2026   5:00 amMarch 9, 2026   3:02 pm
Newsom is betting his last budget on AI stocks his own analysts call overheated. Four straight deficit years. A $35 billion structural gap incoming. And a pension system that makes all of it worse. We’ve seen this movie. It ended...
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From Pete Wilson’s California to One-Party Decline: Steve Hilton’s Poll Lead Gives Me Hope

February 27, 2026   9:00 amFebruary 27, 2026   9:13 am
I landed in California in 1990 as a young man fresh out of Northeastern University with a bachelor’s degree. Pete Wilson was governor, the economy was strong, and the state still embodied Ronald Reagan’s “Morning in America.” Businesses were expanding,...
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California’s Proposed 2026 Billionaire Tax Act: A Fast Track to Economic Exodus in the Golden State

February 23, 2026   5:00 amFebruary 23, 2026   5:01 am
When I arrived in California in 1990, Pete Wilson had just become governor and the state felt like morning in America all over again. Businesses were hiring, real estate hummed, and the mood was upbeat. As a conservative shaped by...
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