The climate system is a complex of thermodynamic energy transfers, moving between the Earth’s atmosphere and oceans. Our local experience of weather—hot summers, breezy autumns, monsoon rains, tropical cyclones, droughts, floods, blizzards and mudslides—is an expression of the way climatic forces play out over time.
A World Bank study has projected that the global financial crisis and resulting recession will plunge some 53 million people across “emerging markets” —like China and India— into absolute poverty, in 2009 alone. In China, tens of millions of people have lost jobs related to the export-dependent manufacturing sector. Such a collapse in private fortunes … Continue reading 53 Million in ‘Emerging Markets’ Plunged into Poverty by Great Recession
Among the numerous scathing criticisms leveled against the record $3.1 trillion federal budget proposal —which will be the last of the George W. Bush White House— are fiscal irresponsibility, near record deficits, and plans to cut or eliminate fully 151 federal programs, in an effort to save just $18 billion, while base Defense Dept. spending increases by 8%.
Economists worry that spending priorities laid out in the budget will only exacerbate current economic slowdown. Democrats in Congress have vowed the budget “will not be the model” for the legislation they will put forth to govern spending for 2009. But the White House insists the budget is fiscally responsible and will in fact reduce spending.