Chriss W. Street

Latest News

California Crushed by Texas Job Creation

The America Enterprise Institute seldom has much positive to say about the impact of California’s leftist public policies on business and job growth in the less-than-Golden State. But AEI’s blog pointed to Monday’s Bureau of Labor Statistics unemployment report to show that conservative Texas continues to crush liberal California in job growth. Aug 20, 2014 1:43 PM PT

Aeroject Awarded Laser Based 3-D Metal Printing Contract

California's Aerojet Rocketdyne announced Monday that it had been awarded an Air Force contract to develop 3-D printing for “Large-Scale Additive Manufacturing." Unlike traditional 3-D printing that shapes parts out of composites and plastics, additive manufacturing uses lasers to melt metals into complex shapes with very specific hardness and heat tolerances. Aug 20, 2014 5:52 AM PT

Populist Movement Grows in Australia Against China Domination

Clive Palmer (pictured), Australian mining magnate and leader of the nation’s United Party, accused China of trying to take over the nation’s resources. Although he was quickly lambasted by ruling Liberal Party Prime Minister Tony Abbott, it seems that there is now a populist movement against China’s state-owned industries' aggressive acquisition of foreign companies and infrastructure. Aug 19, 2014 1:33 PM PT

Russia & China Launch Era of Floating Nuclear Power Plants

Russia began a campaign in 2000 to construct seven floating nuclear power plants, but Moscow only built one due to strong Western environmental opposition and Russia’s weak economy. But now that Russia is under Western financial sanctions and China recently admitted its huge domestic effort to frack for natural gas has failed, the two nations are teaming up to launch a new era of floating nuclear power plants. Aug 19, 2014 12:19 PM PT

Proposed Fracking Ban May Hurt Santa Barbara Liberals

A group called the Santa Barbara County Water Guardians qualified an initiative called Measure P for the county ballot in November. The measure would ban “high intensity” gas and oil operations such as fracking, oxidization, steam injection and other high-intensity petroleum operations. However, what once seemed like an easy passage in extremely liberal Santa Barbara County is encountering surprising opposition. Aug 19, 2014 11:27 AM PT

Broadband Overtakes TV for First Time

For the first time, top U.S. cable firms have more broadband customers than cable TV subscribers, according to published data from the Leichtman Research Group. Aug 19, 2014 8:50 AM PT

China's National Effort in Oil and Gas Fracking Fails

China’s “economic miracle” faces an existential threat now that the nation is the world’s largest importer of oil. The Chinese central authorities mandated a $275-billion crash investment in fracking to develop cheap energy from China’s 30 trillion cubic meters of natural gas trapped in the world's largest shale fields. But China’s effort to knockoff America’s oil and gas fracking boom appears to have failed. China seems doomed to continue to destroy its industrial competitiveness by relying on high-cost energy imports. Aug 18, 2014 1:43 PM PT

US Manufacturing Surges in July

United States manufacturing, which accounts for about 12% of the economy, surged by 1% in July after rising by 0.3% in June, according to the Federal Reserve. Aug 16, 2014 9:30 AM PT

China Faces Credit Crunch as Lending Falls 86%

China's National Bureau of Statistics revealed data on August 13th that the nation’s credit plunged by a dramatic and wildly unexpected 86% in July, down to the slowest pace since the 2008 bankruptcy of Lehman Brothers and the start of the global financial crisis. With a collapsing housing sector and falling exports, China now faces a brutal credit crunch. Aug 14, 2014 2:43 PM PT

We are More Addicted to Boob Tubes than Ever

Despite decades of the medical community warning that time spent watching TVs, computers and cell phones can cause eye soreness, dizziness, blurry vision, headaches, and muscle strain, Americans are becoming more addicted to all screens--and especially small screens according to Nielsen's latest Cross-Platform Report. Aug 14, 2014 6:35 AM PT

China Appears Ready to Dump Its U.S. Treasury Bonds

Although investors hang on every comment by Federal Reserve Chairwoman Janet Yellen to get insight on the direction of interest rates and what it means for the economy and asset prices, the real power to determine U.S. interest rates may be in the hands of China, according to Lombard Street Research. Facing an overvalued currency that is hurting corporate profits and slowing growth, China appears ready to dump its $1.3 trillion in U.S. Treasury bonds to drive U.S. interest rates up and strengthen the dollar. Aug 12, 2014 6:41 PM PT

Judge Indicates Apple Conspired to Defraud Billions from Tech Workers

The stunning August 8th rejection by federal court Judge Lucy Koh of a $400 million settlement of claims against Apple, Google, Adobe and Intel Corporations for conspiring to hold down employee wages sent shudders through corporations in Silicon Valley and across the nation this weekend. Aug 11, 2014 12:01 PM PT

SpaceX Sued Under Warn Act for Up to 400 Layoffs

Employees at Space Exploration Technologies Corporation (SpaceX) headquarters in Hawthorne, California filed a lawsuit claiming the rocket builder on or about July 21st violated California Labor Law by laying off up to 400 factory workers, or about 11% of the entire company workforce. The employees claim that SpaceX failed to give proper notice under law and are seeking class action status and damages. Aug 9, 2014 1:18 PM PT


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