Chriss W. Street

Latest News

Russian Strategic Bombers Flying Along California Coast

The Associated Press reported Monday that Gen. Herbert Carlisle, Commander of United States Air Forces in the Pacific, acknowledged a significant increase in the activities by Russian long-range strategic aircraft flying along the California coast. May 5, 2014 3:15 PM PT

Obama Doubled Nation-Building Budget

On November 4, 2008, then-President-elect Barack Obama said, “Change has come to America.” That change is most evident today in voters’ opinion of the benefits of United States world involvement. The newest Wall Street Journal/NBC surveys “portray a public weary of foreign entanglements.” Obama demanded an investigation of the Bush administration’s inappropriate use of the defense budget’s “foreign economic aid” for “nation-building.” But over the last five-and-a-half years, the Obama administration has maximized foreign entanglements by more than doubling defense nation-building spending from $24.3 billion to $51.3 billion. May 5, 2014 10:14 AM PT

Russia Moves Warplanes into Ukraine Attack Position

Russia moved dozens of Mig-29 and Su-27 fighter aircraft and Tu-22 bombers from a Simferopol district airbase to the western coast of the Crimean peninsula on May 3rd following the bloody clashes between pro- and anti-Russian groups in the southern coastal city of Odessa where 42 people were killed and 125 injured the day before. May 4, 2014 8:16 PM PT

Study Reveals Drinking More Coffee Reduces Diabetes Risk

There is nothing happier than a coffee drinker with their first cup in the morning. But coffee has a historic reputation of being blamed for many ills — from stunting growth to causing heart disease and cancer. May 3, 2014 12:39 PM PT

Snapchat Proves Tech Bubble Hasn't Burst Yet

For the last five years, U.S. stocks have relentlessly climbed by 210% from their March 2009 lows. Cynics have just as relentlessly warned that a new tech bubble meant speculator Armageddon was dead ahead. But every time it seems like tech valuations cannot go higher, a deal like Snapchat comes along and defies all the cynics’ logic. May 3, 2014 10:19 AM PT

CalPERS Says Detroit Bankruptcy Ruling Threatens California's Solvency

The California Public Employees Retirement System (CalPERS) filed a May Day brief in the 6th U.S. Circuit Court of Appeals saying that U.S. Bankruptcy Judge Steven Rhodes' December ruling in the City of Detroit bankruptcy case was wrong to conclude pensions may be cut by a federal court, despite state constitutional protections. CalPERS believes the ruling threatens the financial basis for granting public employee pensions. May 2, 2014 11:49 AM PT

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


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