Chriss W. Street

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CA Insurance Commissioner Admits 'Affordable Care' Costs 55% More

As someone who saw his monthly health insurance premium double from $780 in 2013 to $1,460 this year, I was interested to see how long it would take for California’s Democrat leaders to fess up that there is nothing affordable about their version of the Affordable Care Act (Obamacare). Jul 30, 2014 7:16 PM PT

Russians Can Defeat Obama's Sanctions Through Sacrifice

The Obama administration has led the European Union to jointly apply economic sanctions to starve Russia of the $59 billion in investment capital the nation needs to keep its oil and natural gas revenues high enough to fund over 50% of the Russian federal budget. But the Russian people could make the capital funding available by adopting stringent energy conservation and agreeing to sacrifice part of their 70% subsidy for domestic oil and natural gas consumption. Although these sacrifices would be painful, the Russian people are known for being very tenacious and patriotic when challenged by foreign powers. Jul 29, 2014 8:23 AM PT

Brown Heads to Mexico to Explain Why 50% More Unemployment is Better

Governor Jerry Brown, now the latest potential presidential candidate for 2016, is touting his trip to Mexico this week as an opportunity to demonstrate foreign policy expertise as a cheerleader in the quest to combat climate change. Mexico President Enrique Peña Nieto will undoubtedly be a very gracious and understanding host, given that the California unemployment rate has consistently been at least 50% higher than Mexican unemployment. Jul 28, 2014 5:50 AM PT

At $84,489, California Teachers Are Highest-Paid in America

Forbes Magazine recently wrote, “It is one of the most commonly held bits of conventional wisdom in this country: that teachers are grossly underpaid.” But a new survey of W-2 data from over half of the public school systems in California found that the state’s average teacher pay and compensation was $84,489 last year. That figure is 50% higher than the national average of teacher compensation and over three times the $27,519 average annual compensation for all Americans. Jul 27, 2014 7:22 AM PT

Obama Proposes Lower Safety Standards to Haul Oil by Trains Than by Ships

The Obama Administration tried to make a big deal this week out of their proposed safety regulations to make the infamous “exploding oil trains” hauling crude oil across the U.S. less dangerous. But despite at least one fiery oil train accident a month, the Obama Administration refuses to green light safer oil pipelines or to require oil trains to strip crude oil of flammable natural gas liquids (NGLs) before loading. Jul 26, 2014 9:15 AM PT

Study: Drought will only Cost California Agriculture 3% of Revenue

With 79% California in “extreme drought” status, and the agriculture industry suffering its greatest loss of water ever recorded in state history, the $50 billion annual sector will only suffer about $1.5 billion in losses or 3%, of revenue according to a new UC Davis Center for Watershed Sciences study. Jul 22, 2014 5:13 AM PT

BRICS Development Bank Does Not Undermine US Dollar

As the three day meeting for the 6th annual “BRICS” conference of Brazil, Russia, India, China and South Africa comes to a close, the most important accomplishment is the founding of the BRICS Development Bank and a currency stabilization pool known as the Contingency Reserve Arrangement.  At a puny $50 billion the BRICS Development Bank does not undermine the U.S. dollar as the world’s reserve currency.  But it does recognize that most of the world’s coming growth will be from emerging economies and seeks to undermine political meddling by Western nations in investment decisions regarding that growth. Jul 18, 2014 12:02 PM PT

China Cracking Down on Money Laundering to Buy Real Estate in CA

China is cracking down after the CCTV state-owned broadcaster secretly recorded a state-owned bank executive bragging that the bank illegally provides in-house money laundering services for wealthy Chinese nationals to violate currency controls and buy real estate in “world cities” as their off-shore safety deposit box. Jul 18, 2014 6:43 AM PT

New York AG Battles Taxi Competition from Lyft P2P

Lyft peer to peer (P2P) shared-ride service said on its blog that Lyft will delay its New York City launch in Brooklyn and Queens after the New York State Attorney General said a court issued a temporary restraining order against the company, because it supposedly did not comply with the requirements of the NYC Taxi and Limousine Commission. Yet there may be still seems to be hope for New Yorkers that are used to ridiculously high priced taxi/limo services that Lyft will launch. Jul 15, 2014 6:36 AM PT

US Banking Falling Behind P2P and B2B 'Crowdfunded' Banking

John Gapper in a Financial Times article titled "US Banks Will Pay Dearly For Their Failure To Modernize" warns that the United States banking system is failing to modernize and is actually falling behind England, India, and Africa, as the private sector moves to separate deposits and peer-to-peer lending. These new P2P and B2B banking organizations are often referred to in the rest of the world as shadow banks. Jul 14, 2014 3:18 PM PT

CalPERS Former CEO Admits to Fraud and Bags of Cash

The $288 billion California Public Employees’ Retirement System was rocked on July 10 when it was learned that former CEO Federico Buenrostro had cut a plea bargain with the Justice Department to turn “state’s evidence” regarding steering $14 million in placement fees to former board member Alfred Villalobos in exchange for cash bribes and gifts. Jul 13, 2014 5:45 AM PT

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