Dr. Wayne Winegarden, Senior Fellow in Business and Economics at the Pacific Research Institute, explains why the claims of ESG investing advantage turned out to be based on an illusion, which reversed itself when energy companies began to outperform tech stocks. He also points out that ESG when applied as an investment methodology increases fees and decreases returns. Dr. Winegarden warns that a crisis in state pension and health insurance plans is virtually inevitable and how red states are likely going to be forced to bailout blue states. 

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