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...Pacific Ocean. Called El Niño Modoki (after the Japanese term meaning "similar, but different"), the new El Niño seems to shift Atlantic cyclones to the west, resulting in more frequent storms and more hurricanes making landfall on the coast of the Gulf of Mexico and Central America. Because many climatologists believe that climate change is also strengthening the storms that form, a hotter future could be one with hurricanes that are both more powerful and more common. (Read "Why Disasters Are Getting Worse...
...Those workforce cuts similarly included large numbers of administrative and professional staff, unionized technical and clerical workers, and even some service and trade workers. Harvard College Library saw substantial staff reductions, and the University's central administration laid off 60 employees in an effort to cut costs and increase efficiency...
Bottom line: the dollar faces a longer-term challenge, and the big players know it. Echoing a call made by Zhou Xiaochuan, its governor, in March, China's central bank advocated a new global reserve currency in its annual financial-stability report released last Friday. Raising concerns of a move away from the dollar as the world's reserve, the proposal for a "super-sovereign" coin nudged down the greenback vs. a host of major currencies. That may have been a tad more impact than Zhou was seeking: with something like two-thirds of China's roughly $2 trillion...
...Sacramento, which rises like the city of Oz on the flat plains of the California's Central Valley, Schwarzenegger has not underplayed the gory details. "Our wallet is empty, our bank is closed. Our credit is dried up," he says. But the crisis has not helped bind up the gaping political divisions over what to do about it. Democratic lawmakers have proposed cutting billions of dollars from the state's safety net and educational system to balance the budget. Governor Schwarzenegger says the cuts must go even deeper and joins legislative Republicans in refusing to raise taxes. On Wednesday, Schwarzenegger...
...such a convention reads: "Delegates to the convention shall be prohibited from considering and proposing revisions to the Constitution that would affect (a) Property taxes associated with Proposition 13. (b) Any other direct increase in taxes." Yet for many liberals, modifying Proposition 13 would be one of the central reasons for holding a constitutional convention. Mark Paul, a scholar with the non-partisan New America Foundation, says, "It's silly to have a conversation about the future of California without talking about Proposition 13." (Watch a gay marriage wedding video...