California is Greece, But with Capital Gains
California not only has the highest poverty rate in the U.S. at 23.4 percent, but that rate is now also higher than Greece, at 22.3 percent.
Chriss W. Street
Latest News
Apple Intends to ‘Blow-Up’ iTunes on Monday
A raging debate is questioning Apple’s ability to succeed in the upcoming streaming music service that will be launched at their developer conference on Monday in San Francisco.
UCLA California Forecast: ‘We’re in a World of Hurt’
The UCLA Anderson Forecast released on Friday predicts that California will help drive the nation’s economic recovery this year with an expected labor force growth of 128,000 new workers, or +2.1 percent. But Forecast’s Director Ed Leamer cautioned that while California payrolls reached a new high of 17.8 million jobs, the number is still running 16 percent behind states’ long-term trend. Leamer’s concluded, “We’re in a world of hurt.”
Trader Joe’s Ex-President Opens High-Quality/Inexpensive Market for Poor
The former president of Trader Joe’s opened Daily Table as a non-profit grocery store in Boston’s “Southie” neighborhood of Dorchester. It offers high quality “sell-by date” and surplus food at huge discounts to help low-income grocery shoppers.
EPA Clears Fracking for Next Stage of U.S. Oil Boom
The Environmental Protection Agency (EPA) released a long-postponed draft report Thursday on the impact of hydraulic fracturing (fracking). The regulators concluded that based upon “peer-reviewed studies as well as state and federal databases,” there is no evidence the practice has had a “widespread, systemic impact on drinking water.”
UAW Celebrates Membership Growth by Preparing to Strike in September
With the strike ban that was a pre-condition of the GM and Fiat Chrysler federal bailouts expiring, United Auto Workers (UAW) locals are collecting food and encouraging union members to save for a potential strike when the Big Three four-year labor agreement expires on September 14.
Left Attacks California Governor as ‘Big Oil Brown’
As Governor Brown wrestles with the Democrat-run state legislature on how to spend the state’s supposed $3 billion surplus, he is being challenged by California’s powerful environmentalist lobby.
Facing Legal Bills, Ellen Pao Appeals Sex Discrimination Loss to Kleiner Perkins
It has been just two months since a San Francisco jury of six women and six men ruled against former junior partner Ellen Pao on all four of Pao’s claims of gender discrimination and retaliation against the prestigious Silicon Valley venture capital firm of
US Sets 44-year Oil Production High as Economy Looks Bright
The U.S. Energy Information Agency (EIA) reported that domestic crude oil productionfor the week ending May 22 surged by 304,000 barrels per day (bpd) to a 44-year high of almost 9.566 million bpd. The latest production numbers come on the heels of Breitbart News’ report that the Organization of Petroleum Exporting Countries (OPEC) had effectively conceded defeat in its battle against U.S. shale oil competition.
More Obama Insurance Premiums to Jump 30%
Recently, Breitbart News broke the story last week that major insurers in a number of states were proposing up to 51 percent healthcare premium increases for Obamacare policies. Now Illinois and Pennsylvania are also seeking 2016 rate hikes in the range of 30 percent.
Public Sector Unions’ $9 Billion, Two-Stage Attack on Prop 13
It was only a matter of time until California’s powerful public sector unions geared up for a two-step approach to overturn the 1978 Proposition 13 ballot measure that has saved California property owners about $550 billion in property taxes.
Critics: San Francisco’s Poor Pay for Their Own Eviction by Tech Cronies
With San Francisco offering massive tax incentives to redevelop 77 dilapidated warehouse buildings into a “Twitter Town” for the “digerati” venture capital crowd, the adjacent Mission District community is now in turmoil, as the city’s poor are being booted to make room for new buildings and Airbnb vacation rental conversions.
Cal AG Kamala Harris’ 2nd Employee Busted Impersonating Law Enforcement
For the second time, an employee in the California Department of Justice was caught impersonating as a sworn law enforcement officer. California Attorney General and Democratic Senate candidate Kamala Harris’ office was rocked last month when one of her direct aides was arrested on charges of impersonating a police officer after he took a leading role in setting up a fake police department. Harris has made no comment on either case.
PUC’s Computer Tool Exposes Renewable Energy Bloated Costs
The Sierra Club is upset because the California Public Utilities Commission (PUC) built a sophisticated and unbiased computer model to analyze the cost-effectiveness of new solar policy proposals. But despite all the Sierra Club’s political clout, the computer model determined is that none of the solar policy proposals are cost effective.
CA Legislature Offers $1 Billion to Extend Obamacare to Illegal Aliens
The California Senate’s Appropriations Committee passed SB 4 to give health care to all illegal/undocumented aliens. Breitbart News estimates that based on the non-partisan Legislative Analysts’ Office projections, SB 4 will cost at least $1 billion, and the cost will undoubtedly go much higher over time.
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.
Bold: Irvine Dumps $13.34-per-Hour ‘Living Wage’
The Irvine City Council voted 4 to 1 to begin dumping an eight-year-old “Living Wage” ordinance on Wednesday night that forces most of the city’s thousands of contractors to pay all employees at least $13.34 an hour.
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.
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.”
California Wins ‘Worst State to do Business’ for 11th Year
It must be rainbows, butterflies and unicorns for Sacramento liberals, as California successfully defended its crown as America’s CEOs again named California the worst state to do business–for the eleventh straight year.
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
U.S. Job Losses: No Evidence Low Interest Rates Offset Obama High Taxes
Investors anxiously await Federal Open Market Committee (FOMC) minutes, like the details of the April 28-29 meeting released Friday. But despite the Fed’s monetary policy purchase of $4 trillion in bonds to drive interest rates to near zero, Fed Chairman
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.
Cal Drivers Owe $10.2 Billion in Traffic Debt due to ‘Penalty Assessments’
For a state with 24,200,997 licensed drivers, California has suspended 4.8 million licenses of drivers who didn’t pay traffic fines or failed to appear in court in the last decade.
Memorial Day for the Left: 500 Anti-GMO Protesters March in San Francisco
While the rest of America took time to celebrate the sacrifices of veterans and their families on Memorial weekend, 500 San Francisco protesters marched against Monsanto Corporation, carrying signs and chanting, “Evil Seed of Corporate Greed.”
