Chriss W. Street

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Stanford Coal Divestment Upsets Kentucky Senate Race

The blow-back from Stanford University’s May 6 decision to become the first major university endowment to divest of the stocks of coal-mining companies may hurt the general election prospects of Kentucky Democratic Senate hopeful Alison Lundergan Grimes, who has a one-point lead in the polls against Senate Minority Leader Mitch McConnell. May 19, 2014 3:24 PM PT

China Says Geithner's Book Proves U.S. Cannot Be Trusted

The Chinese official Xinhua News Agency published an incendiary article this morning titled: “Geithner Charges White House With Telling Him To Lie, But Fallout Muted.” Over the last year, Chinese President Xi Jinping is reported to have fired 183,000 Communist Party bureaucrats and purged dozens of senior officials suspected of corruption. May 17, 2014 8:48 PM PT

GAO: Budget Sequester Only Cut One Federal Job

During the government shutdown last October, the main–stream-media railed against what they referred to as the draconian risks associated with the “Budget Sequester.” May 15, 2014 1:53 AM PT

Stockton Bankruptcy Judge Calls CalPERS Claims 'Festering Sore'

U.S. Judge Christopher Klein, who is presiding over the Stockton city bankruptcy case. said on May 13th he will question officials from the California Employees’ Retirement System (CalPERS) in a bench trial that will last until Thursday, May 15th to determine whether the nation's largest pension fund can be forced to take losses in the municipal bankruptcy case along with other creditors. May 14, 2014 1:55 PM PT

IMF's Lagarde: Ukraine Crisis Is 'Contagion' of Unpredictability

Christine Lagarde, French International Monetary Fund (IMF) managing director, said in an interview with German newspaper Handelsblatt on May 12th that “Ukraine needs much more than 17 billion dollars” in the rescue package of financial assistance approved by the IMF on April 31. Despite earlier reassurances that Ukrainian assistance would be temporary, the IMF now expects Ukraine’s economy to shrink by 5% this year, while the global economy will grow by 3.6%. May 14, 2014 9:05 AM PT

Mortal Enemies Saudi Arabia and Iran Try Diplomacy

In what can only be described as a momentous sign that Saudi Arabia can no longer defeat Iran’s ambitions to rebuild its Persian Empire, Saudi Foreign Minister Prince Saud al-Faisal on May 13th told a news conference in Riyadh that his Iranian Foreign Minister Javad Zarif had been invited to visit the kingdom.  Prince Saud was quoted as saying “any time that [Zarif] sees fit to come, we are willing to receive him. Iran is a neighbor, we have relations with them and we will negotiate with them, we will talk with them.”  By opening diplomatic talks, formerly mortal enemies Tehran and Riyadh hope to use diplomacy to bring tensions down to a more manageable level. May 14, 2014 9:03 AM PT

Sunni Muslim States Forming 'Arab NATO'

The Sunni Muslim Gulf Cooperation Council (GCC), led by Saudi Arabia, appears to be forming an “Arab NATO” military alliance according to Stratfor Intelligence. The alliance would initially include Morocco and Jordan, but over time it would probably also seek to include the North African states of Algeria, Tunisia, Libya, and Egypt. May 12, 2014 6:01 PM PT

Antarctic Sea Ice at All-Time Record Levels

The National Snow and Ice Data Center (NSID), with the support of the NASA Earth Sciences, just announced that Antarctic sea ice has expanded to all-time record levels for April. Last month the ice expanded by more than 42.5 square miles and continues to grow in May. May 12, 2014 10:39 AM PT

Outside Political Spending Hits $88 Million and Counting

Open Secrets reports that outside groups, generally political parties, corporations and unions, have independently spent $88,868,421 so far in 2014 on the upcoming mid-term elections according to the Federal Election Commission (FEC). May 9, 2014 6:25 PM PT

Hedge Funds See Record Cash Inflow

Total hedge fund assets surged to set a record of $2.7 trillion in the first quarter of 2014, as investors allocated $26.3 billion of new capital to the industry, the most since the second quarter of 2011. May 9, 2014 12:09 PM PT

California Policy Center: 20 Counties' Public Pensions Only 60% Funded

Bill Monnet, Ken Churchill, and Ed Ring of the California Policy Center published a study on May 6, 2014 titled “Evaluating Total Unfunded Public Employee Retirement Liabilities in 20 California Counties” that determined the official published statements for unfunded employee retirement liabilities in 20 California county pension plans are drastically understated. May 7, 2014 3:48 PM PT

Fed Chair Janet Yellen Predicts Economy and Inflation to Rise

Federal Reserve Chairwoman Janet Yellen offered an upbeat economic outlook to the Joint Congressional Economic Committee in her remarks Wednesday by stating, “With the harsh winter behind us, many recent indicators suggest that a rebound in spending and production is already underway, putting the overall economy on track for solid growth in the current quarter.” May 7, 2014 11:13 AM PT

Sandinista-Chinese Nicaraguan Canal to Compete with Panama Canal

The “Interoceanic Grand Canal” (IGC) is about to be dug across Nicaragua to compete with the Panama Canal by as early as 2019. The Sandinista government of Nicaragua's President Daniel Ortega granted a 100-year concession to the Hong Kong Nicaragua Canal Development Investment Company (HKND). The IGC will cut more than 1,000 miles and a day’s time off trips by supertankers, giant container ships, and potentially Chinese warships to connect from the Pacific Ocean to the Caribbean. May 5, 2014 3:40 PM PT

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