Silicon Valley is again “champagne style and caviar wishes” as people around the world paid $18,000 for Apple watches last week. But with Moore’s Law predicting computer power will double annually as prices fall now turning 50 years old, it is helpful to put in perspective that the NASDAQ Index dominated by “Valley” tech stocks that has almost tripled since 2010 to 4931, is a couple of percent short of its Dot-Com Bubble peak of 5132 in March 2000. But adjusted for inflation, the NASDAQ still is still down 34 percent.
by Chriss W. Street21 Apr 2015, 4:00 AM PST0
Monday at a roundtable discussion at Whitney Brothers furniture company in Keene, NH, former Secretary of State Hillary Clinton said she was “surprised” to find out all the complaints she had been hearing for the “last two years” that it
by Pam Key20 Apr 2015, 1:18 PM PST0
Barclay’s Bank estimates that despite a hot stock market, the China suffered $300 billion in capital flight and is facing its first foreign exchange liquidity crisis since 2000. The news follows a report that China’s GDP is experiencing negative growth in real terms, thanks to collapsing domestic demand.
by Chriss W. Street19 Apr 2015, 2:30 PM PST0
Just as the Dot-com bubble was popping in May 2000, the highly respected MIT Technology Review published an article, “The End of Moore’s Law?”, that claimed computing power could not continue to double each year, because engineers were no longer able to “cram an ever-increasing number of electronic devices onto microchips.” But after 50 years of unabated annual doublings of computer power on chips, there is still no sign that Silicon Valley innovations are slowing or that Moore’s Law will expire.
by Chriss W. Street19 Apr 2015, 9:30 AM PST0
During a segment on his Fox Business Network show Making Money, host Charles Payne said that he thinks Obama is making ready for a big push to pay billions in slavery reparations in 2016.
by Warner Todd Huston17 Apr 2015, 11:19 AM PST0
There has been lots of hubbub in the last two weeks about California’s economy drying up and blowing away like sagebrush after four years of drought. But the nonpartisan Legislative Analyst’s Office (LAO), which provides budget advice to state lawmakers, announced that “We currently do not expect the drought to have a significant effect” on the state’s budget or overall economy. The reason: agriculture is only a small piece of the economy.
by Chriss W. Street17 Apr 2015, 4:30 AM PST0
Americans are routinely told not to worry about how much of our titanic national debt is held by foreigners, but those who do keep track of such things may be relieved to know that our current number-one creditor, our totalitarian geopolitical adversary China, has been surpassed by our considerably less hostile ally Japan. Each of those nations holds a little over 10 percent of America’s debt.
by John Hayward16 Apr 2015, 11:41 PM PST0
Lombard Street Research (LSR) has reported that China’s “real” (after-inflation) GDP actually fell -0.2% for the quarter ending March 2015. Despite the official government claim of +1.3 percent growth for the quarter and +7 percent annualized growth. China’s quarterly performance
by Chriss W. Street16 Apr 2015, 7:42 PM PST0
There is a saying in Latin: Primum Non Nocere, which translates to “First Do No Harm.” That phrase basically means that given an existing problem, it may be better not to do something, or even do nothing, than risk causing
by Jon Fleischman16 Apr 2015, 12:40 PM PST0
Trial lawyers trying to hold parts of the legal system hostage to make money is nothing new. It always happens the same way: a few creative lawyers figure out how to exploit legal loopholes; then abuse those loopholes to enrich themselves at others’ expense until someone stops them. Along the way, they come up with all sorts of creative justifications for what they are doing, claiming it’s actually positive and beneficial. Behind the scenes, they convince or pay off special interests to lobby for delays in changing the law that would close their loopholes and stop the cash flow.
by George Landrith16 Apr 2015, 9:50 AM PST0
While Fresno County is suffering from high unemployment–11.6 percent in February 2015, and 12.0 percent in January 2015–Fresno workers have joined the Fight for $15, a national campaign to raise wages and set the minimum wage to $15.
by William Bigelow16 Apr 2015, 9:00 AM PST0
When you go to the store and something you bought for five bucks six months ago is suddenly going for $5.25, and you just know it’s going to cost you $5.50 in another six months, chances are you just shrug and buy it anyway. After all, it’s only 50 cents.
by Ed Butowsky16 Apr 2015, 8:35 AM PST0
Netflix, Inc. beat its aggressive prediction that it would add 4 million new streaming subscribers in the quarter ending March by adding 4.88 million subscribers. After shares leaped 47% over the past three months, the fabulous numbers sent the stock up about 11 percent to $531 in after-hours trading on Wednesday.
by Chriss W. Street16 Apr 2015, 5:51 AM PST0
In what may be a very bad sign of a deteriorating defense posture for Uber Technologies’ argument that its drivers are independent contractors versus employees, a San Francisco federal judge denied Uber’s summary judgement motion and the case is now
by Chriss W. Street16 Apr 2015, 4:30 AM PST0
Google thought it had agreed last year with European competition regulators that the company’s 90% dominance of Internet searches was “not an illegal business.” But new European Union antitrust chief Margrethe Vestager sought to put Google in chains on Wednesday by accusing the company of abusing its dominance in web searches to the detriment of competitors.
by Chriss W. Street16 Apr 2015, 4:00 AM PST0
WASHINGTON (AP) — The U.S. dollar hasn’t been on a roll like this since Ronald Reagan sat in the White House and “Raiders of the Lost Ark” ruled the box office.
by Breitbart News15 Apr 2015, 10:22 PM PST0
A university degree was once perceived as the social elevator to a higher net worth. But the Federal Reserve Bank of New York estimates that 40 million Americans have racked up an average of four loans with an outstanding net balance of $29,000 to obtain a college education.
by Chriss W. Street15 Apr 2015, 7:58 PM PST0
The International Association of Machinist (IAM) were cocky on March 17 when they filed petitions with the National Labor Relations Board for a vote to organize 3,175 jet assembly workers at the Boeing Company’s nonunion factories in South Carolina. But with a week before the April 22 vote and panicking that they are about to lose, the union is on the verge withdrawing the vote.
by Chriss W. Street15 Apr 2015, 2:15 PM PST0
There is no excuse for today’s federal tax system. It obstructs wealth-creation and jobs. The only interests it serves well are those of the political class. When they debate among themselves about the proper level of taxation, it’s clear that they think the federal government can tax at any level they want.
by Breitbart News15 Apr 2015, 7:11 AM PST0
Florida Governor Rick Scott flew into Southern California and spent Sunday and Monday trying to lure away shipping and logistics companies from the Ports of Los Angeles, Long Beach and San Diego. When Governor Brown was asked by reporters at
by Chriss W. Street14 Apr 2015, 4:54 AM PST0
When I travelled for two weeks in working class areas of Cuba last year, a Cuban worker explained to me that while they hear endlessly from the government about the “American embargo against Cuba,” the real problem is the “internal embargo”—the embargo that the government elite has imposed on the Cuban people to keep them from participating in the economies of the elite and the outside world.
by Spyridon Mitsotakis13 Apr 2015, 9:41 PM PST0
Politicians have manipulated the income tax to salve voter angst about fairness but in the process are destroying the work ethic and corrupting public judgement about the appropriate limits of government.
by Peter Morici13 Apr 2015, 5:34 AM PST0
The Bureau of Labor Statistics (BLS) just published the Job Openings and Labor Turnover Summary (JOLTS) report for February. The job openings percent for the workforce hit a 14 year high of 5.1 million, while the layoffs and discharges percentage stayed at a historic low. But despite the job availability rate more than doubling since 2009, the hiring rate only grew by 30 percent in the same period. Adjusted for population growth, the American economy is still down by 5.9 million jobs.
by Chriss W. Street13 Apr 2015, 5:00 AM PST0
Former Obama Senior Advisor David Axelrod predicted Hillary Clinton will face questions on the economy because “there’s a sense that work doesn’t pay” on Friday’s “Andrea Mitchell Reports” on MSNBC. “We have an economy that has recovered from the recession,
by Ian Hanchett10 Apr 2015, 2:42 PM PST0
Self-proclaimed “ungodly rich” owner of the NBA’s Dallas Mavericks appeared as a guest on ESPNU’s “The Herd with Colin Cowherd” on Friday to discuss the globalization of sports and social issues. According to Cuban, with the way the financial system
by Trent Baker10 Apr 2015, 9:59 AM PST0
