Chriss W. Street

Latest News

Jerry Brown's Trade Mission to Mexico

California Governor Jerry Brown will be seeking to burnish his foreign policy credentials when he leads a trade and investment mission to Mexico – California’s largest export market – in July. May 1, 2014 12:10 PM PT

US Loans $3 Billion to Ukraine

The International Monetary Fund (IMF), which is dominated by the U.S., just approved a $17 billion loan for the Ukraine. As largest participant with 17.69%, the United States will contribute over $3 billion. The first disbursement will be $3.2 billion and $2.2 billion of that amount will go to Russia’s state-controlled OAO Gazprom to pay down Ukraine’s natural gas debt. Despite the cash improvement, Pro-Russian separatists seized government offices in Ukrainian towns on April 30th in a further sign that authorities in Kiev are losing control of the country's eastern industrial heartland bordering Russia. May 1, 2014 10:37 AM PT

World Bank Report on China's Economy Surpassing the U.S.'s Misreads the Data

According to a World Bank report released Wednesday morning, the United States is on the cusp of losing its economic global supremacy for the first time since it took the crown from the United Kingdom in 1872. Americans should ignore this bogus headline; China’s $8.2 trillion gross domestic product (GDP) in 2012 was only 51% of the size of America’s $16.2 GDP. It will be a long time before China takes away America’s economic crown. Apr 30, 2014 6:31 PM PT

Europe Undermines US Sanctions Against Russia

The European Union undercut the United States' sanctions against Russia by failing to match America’s April 28th sanctions against 17 high-tech companies that are directly owned or controlled by Russian President Vladimir Putin. Although the EU issued “enhanced” sanctions against individuals, they still have little financial effect. Apr 30, 2014 3:56 PM PT

Oil Train Burning in Downtown Lynchburg, VA

In what could have been America’s deadliest oil train disaster, over a dozen crude oil tankers in a 100-car train derailed and caught fire in downtown Lynchburg, Virginia. Apr 30, 2014 3:27 PM PT

Gallup: Republicans at Little Disadvantage in Social Media in 2014

Most Americans expect Democrats to dominate the political use of social media and the Internet in the 2014 and 2016 national elections, but the Gallup polling organization just published a report titled “Mobile Technology in Politics More Potential than Reality” that indicates Republicans will not be at much if any disadvantage. Apr 29, 2014 3:15 PM PT

California Legislature Wants 47% Corporate Tax Increase

The California State Senate is considering SB 1372, which would raise the top corporate tax rate by 47% to 13%. The proposal ties the corporate tax rate to the ratio of a company’s CEO compensation to that of its median worker. While proposals to cap CEO pay are not entirely novel, the Tax Foundation stated that California’s tax increase would be the first to attempt to do so through the tax code. Apr 29, 2014 7:25 AM PT

German Diplomat Wounded During Al-Qaeda Offensive

Gunmen believed to be affiliated with al Qaeda in the Arabian Peninsula (AQAP) attempted to stop and kidnap two German diplomats in Sanaa, Yemen, Monday. The gunmen opened fire when the Germans’ car refused to stop, and one diplomat was shot in the leg, according to Reuters. Apr 28, 2014 6:17 PM PT

Pfizer Plans to Relocate to UK to Cut Tax Rate in Half

In a huge rejection of the United States's corporate income tax rate – the highest in the world – America’s second-largest drug company, Pfizer, Inc., just proposed a merger with Britain’s AstraZeneca that would move the company away from New York’s combined 42.1% corporate rate and into the United Kingdom’s 20% rate. Apr 28, 2014 2:39 PM PT

Almost 10% of American Families Had an Unemployed Member in 2013

Almost 10% of American families had at least one member of the family unemployed in 2013, according to the U.S. Bureau of Labor Statistics (BLS). Despite improvements in the U.S. economy, widespread effects of unemployment are still leading to declines in individual and family well-being. Apr 28, 2014 12:12 PM PT

Pro-American Abdullah Abdullah Leads in Afghanistan Elections

Pro-American former Afghan Foreign Minister Abdullah Abdullah won 44.9% of the vote in Afghanistan's April 5th presidential election and will face former Finance Minister Ashraf Ghani Ahmadzai, who received 31.5% of the vote, in a run-off expected to be held on May 29th, according to Afghanistan’s Tolo News. Apr 27, 2014 2:25 PM PT

Obama Heats Up Asia Trade War

The real purpose of President Obama’s trip to Asia was to fortify an economic and military alliance to counterbalance China's growing influence in the region. In the preceding weeks, China has shown its displeasure by backing Russia in the Ukraine and meeting with Russian Foreign Minister Sergei Lavrov to negotiate a deal to redirect natural gas from Europe to China. Apr 26, 2014 6:31 AM PT

Eurasia Group: Record U.S. Oil Inventory Threatens Collapse of OPEC

The United States Energy Information Administration (EIA) said American crude oil stockpiles rose 3.5 million barrels to 397.7 million barrels last week, the highest level since the 1930s. With the U.S. and Canada expected to grow production by another 2.4 MBD in the next two years, Ian Bremmer, President of Eurasia Group, says one of the “top risks” of 2014 is that oil prices could “crater” and OPEC could “fall apart.” Apr 25, 2014 5:43 PM PT

California Aqueduct to Saves Farms by Pumping Backwards

Kern County Water Agency intends to rescue hundreds of farms from the state’s severe drought this spring by reversing the flow of the California Aqueduct. Water districts in the San Joaquin Valley are proposing a drought tactic that’s never been tried: they want to reverse the state’s plumbing by running the California Aqueduct backwards. Apr 25, 2014 3:55 PM PT

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