Chriss W. Street

Chriss W. Street

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California Pumpjack (Joel Pollak / Breitbart News)

OPEC Concedes Defeat In Anti-Shale Oil War with U.S.

OPEC’s attempt to over-produce crude oil for export to crush prices and bankrupt the American shale-fracking oil boom has failed, according to a draft OPEC long-term strategy report seen by Reuters ahead of the cartel’s policy meeting in Vienna on June 1st.

AP/Paul Sakuma

Covered California May Merge with Bankrupt State Obamacare Exchanges

With major insurers in some states proposing up to 51 percent Obamacare insurance premium increases, liberal Democrats are scrambling to avoid a political and financial disaster. One proposal is to merge California’s financially troubled “Covered California” exchange with the even more insolvent state exchanges, like “Cover Oregon,” which was forced to shut down last year.

AFP

Snapchat CEO Warns it’s a “Matter of When” Tech Bubble Bursts

Snapchat CEO Evan Spiegel revealed Tuesday at the California Code Conference in Rancho Palos Verdes that the company is planning for an initial public offering (IPO). He said the company, recently valued at $15 billion, had no desire to be acquired in a merger like the Facebook’s $3 billion offer two years ago. Then, in a refreshing twist for such a young captain of industry, Spiegel warned that the Fed’s “easy money policy” and low interest have created a tech bubble and it’s only a “matter of time till it bursts.”

Bitcoin (Rick Bowmer / AP)

Bitcoin is Killer App for $1 Trillion Remittance Market

Bitcoin’s open-source digital currency was designed to disrupt and cut out the manipulative architecture of central banks, such as the U.S. Federal Reserve. Originally, Bitcoin transactions went through a third party. But the virtual currency has evolved to eliminate all of

AP

500 Protesters Chant in Santa Barbara as Bacteria Munch the Oil Spill

The sad look of south Santa Barbara beaches after the recent oil spill is serving as a backdrop for environmental protesters to advance their causes that have little to do with the ocean’s birds and fish. But as the protesters chanted “End Oil Now!” billions of microscopic bacteria are feasting on the oil that has been on their diet for millenniums.

AP Photo/Lynne Sladky

Obamacare Insurance Premiums to Jump, up to 51%

Major insurers in some states are proposing up to 51 percent premium increases for health plans sold under the Affordable Healthcare and Patient Protection Act, commonly referred to as Obamacare. Despite single digit increases for 2015, insurance companies are seeing their costs jump and are demanding to be compensated with dramatically higher rates.

AP PhotoJuliet Williams

Cal Public Sector Unions Spending $1Billion Per Year

U.S. public sector unions are politically powerful because they collect and spend at least $4.0 billion in dues each year. But California unions are overwhelmingly powerful because although the state has just 11 percent of the nation’s population, California’s public

California fruit farm workers (Donna Sutton / Flickr / CC / Cropped)

Cal Fruit Growers Win Big Precedent Against UFW Union

In a huge victory for farmers and their workers, California’s 5th District Court of Appeal ruled last week that the state’s “Mandatory Mediation and Conciliation” process, which allows a mediator to impose a binding contract on farm companies and agricultural unions when the negotiation process breaks down, is unconstitutional.

AP Photo

 Twitter Donates $3 Million Tech Skills Center for S.F. Poor

Twitter Inc. (TWTR – NYSE) mission statement is: “To give everyone the power to create and share ideas and information instantly, without barriers.” To meet that mission, the company is spending $6 million to open the new Twitter NeighborNest to teach tech skills near their headquarters on South Market Street in downtown San Francisco.

AP Photo

El Niño: Insurers Prepare for Flood Damage Losses

With temperatures dropping into the high teens, and about 7 inches of snow falling for the next three days, Mammoth Mountain is on track to get its most snow since December 2014. The unseasonal snowfall in the Sierras will not break the drought, but the National Climate Prediction Center’s decision to raise the probability of El Niño to 90 percent has insurance companies scrambling to model losses they expect to suffer from El Niño flood damage.

GMO label march (Daniel Lobo / Flickr / CC)

Organic Food Growth Stalls on 47% Higher Cost

Grocery stores are responding to the massive loss of consumer dollars by going all-in for organic foods, which Consumer Reports estimates cost 47% more. Despite clever marketing, most health experts doubt organics are worth the premium price.

Janet Yellen

Fed Chair Yellen Warns Tech Bubble 2.0 Could Pop

Federal Reserve Chairwoman Janet Yellen recently joined the rising chorus of economists and former Fed officials warning about the risks of irrational exuberance by bond and stock investors paying bubble-inflated prices. Conspicuously silent about the risks of stock investing over the last 6 years, Yellen’s comments quickly tanked the bond market. But with the NASDAQ tech-heavy index up 500% since the bottom of the last crash, Yellen seems to be warning this bubble could pop.

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