Chriss W. Street

Latest News

CalPERS Admits 52% Underfunding on State Employee Pensions

The California Public Employees Retirement System (CalPERS) just admitted that the state-managed pension plan, that provides retirement for the state and almost 1,600 local government agencies, is 52% underfunded and will be forced to jack up taxpayer funded contribution rates by about $1.518 billion. Apr 18, 2014 2:52 PM PT

Russia Declares Peace with NATO Humiliation

Russia has achieved a strategic psychological victory over NATO in the Ukraine with the announcement by Foreign Minister Sergei Lavrov in Geneva that an agreement had been reached with Ukrainian and NATO member diplomats to ease tensions in the country. Apr 17, 2014 6:44 PM PT

Poll Indicates Californians Still Oppose Dams, Reservoirs

The California Field Poll has released its latest study on voters' opinions of the seriousness of the current drought and what steps the state should take to respond to the crisis. The poll found that 88% of voters believe the current drought is a serious problem, but most believe the answer is for farmers to reduce water usage by changing crops and using water more efficiently. Apr 17, 2014 4:40 AM PT

Fed Chair Janet Yellen to Follow Reagan's 'Taylor Rule'

Yellen made it clear she is focused on moving Federal Reserve (Fed) policy back to the “Taylor Rule” that was first implemented during President Reagan Administration and for the next 30 years resulted in a period of low inflation and high economic growth. Conservatives and the youth should be optimistic that America is moving back into that “shining city on a hill.” Apr 16, 2014 10:34 PM PT

Retail Sales Are Still a Disaster

The financial press went all “rainbows, butterflies and unicorns” with headlines like “Retail Sales Sizzle in March” over the supposedly strong retail sales report just released. Apr 16, 2014 12:17 PM PT

American Oil Reserves Now Top Saudi Arabia

The U.S. Energy Information Agency (EIA) just reported that United States “proven reserves” of crude oil in 2012 jumped by 15.4% to 29.2 billion barrels. This new official level is only about 13% of the declared reserves of Saudi Arabia. Apr 16, 2014 10:15 AM PT

Russian Military Outmatches NATO in Eastern Europe

Russia is probing NATO defenses in Eastern Europe as part of its strategy to recover the satellite countries it lost in the break-up of the Soviet Union. Although NATO was designed around European members shouldering most of their own security, the 26 European members of NATO have been spending only about 1.4% of GDP on defense, and most of their aircraft and military equipment is seriously outdated. Apr 14, 2014 2:50 PM PT

Pew Research Finds Democrats Losing Millennials

Barack Obama may be the Republicans' best friend when it comes to educating 18-33-year olds of the Millennial Generation about the downside of voting for the Democrats’ economic policies. According to a report from the Pew Research Center for Social and Demographic Trends, the 73.7 million Millennials are “unattached to organized politics and religion, linked by social media, burdened by debt, distrustful of people, in no rush to marry— and optimistic about the future.” Apr 14, 2014 2:31 PM PT

Russia Provokes Ukrainian Retaliation

Russia's military annexation of the Crimea and buildup of land and air forces on its borders with Eastern Europe is raising anxiety that Russia will militarily intervene in other former “republics” to rebuild the Soviet Union. Apr 14, 2014 6:09 AM PT

Big California Farmers Grease Washington for More Water

The rain didn’t come to California last year, but it is was raining “Benjamins” on Capitol Hill as the Central Valley’s Paramount Farm interests contributed $457,000 to Congress, and the Westlands Water District spent $1,600,000 on lobbying and outreach last year. Apr 14, 2014 5:33 AM PT

Bill Gross PR Nightmare Gets Worse

Bill Gross must have never heard of the political saying “when you are digging a hole for yourself, stop digging.” After being dragged through the mud by the financial press over the messy exit of his Co-Chief Investment Officer, and heir apparent, Mohamed El-Erian at PIMCO money management firm, Gross’s ego must have convinced him to sit down for a “no holds barred” interview with Bloomberg News. The result is a Businessweek cover story titled “Am I Really Such a Jerk?” that paints Gross, who oversees management of almost $2 trillion for PIMCO, as an unstable jerk and is a PR nightmare for the firm. Apr 11, 2014 11:30 AM PT

Field Poll: Independent Voters Oppose California Incumbents

A new California Field Poll released Thursday reveals that in the aftermath of the corruption scandals involving three State Senators, the opinions of voters are turning against the performance of State Legislature incumbents. Democrats currently hold 55 seats and Republicans 25, a greater than two to one margin. But with 41 Democrats and only 16 Republicans up for election this November, Republican challengers now have a unique opportunity to pick up seats. Apr 10, 2014 4:05 PM PT

Toyota Recalls Over 6 Million Vehicles

vehicles with known life threatening risks, Toyota Motor Corp on April 9th announced it would recall 6.39 million faulty vehicles in the company's second-largest recall to date. Apr 9, 2014 9:29 PM PT

EU Court Dumps U.S. Surveillance Cooperation

In what can only be described as a national security and tech industry disaster for the United States, the Court of the European Union struck down the “2006 Directive” that allowed the EU and the United States to share in intelligence gathering of telephone calls and internet traffic data. Apr 9, 2014 3:45 PM PT

Only 23% Think Obamacare a Success, 62% Think Repeal Likely

According to the latest Rasmussen poll published on April 8th, only 23% of likely American voters now rate Obamacare as a success and 62% believe Republicans will repeal the law. The latest polling results are a very bad omen for 13 incumbent Democratic Senators in seats the Republicans believe they have a chance of winning in the November 2014 mid-term elections. Apr 8, 2014 4:07 PM PT

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