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...Granted, most local governments often have to raise taxes when they're staring at fiscal craters like the $427 million shortfall in Miami-Dade's proposed $7.83 billion budget. But the less than sunny mood in Miami-Dade is made darker by the feeling among most residents that their fiscal jam is not just a result of falling revenue, but also years of profligate mismanagement. The final determination on their property taxes will be made soon by the Miami-Dade County Commission - a feckless, corruption-tainted body, many of whose members ran up hundreds of thousands of dollars in police...

Author: /time Magazine | Title: Behind Florida's Exodus: Rising Taxes, Political Ineptitude | 9/2/2009 | See Source »

...traders. But nothing about his IQ, or any evident evil, portended the breadth of his later crime. On the surface, Madoff's legitimate trading business gleamed. But in the off-limits-to-his-staff, low-tech office on the secluded 17th floor of Manhattan's Lipstick Building, Madoff worked darker magic...

Author: /time Magazine | Title: Bernie Madoff — Publisher's Best Friend? | 8/17/2009 | See Source »

...simply as a setting for their narratives or to detail its wonders, but because they can use the city as a metaphor for issues of humanity, the arts, the past. These authors have not allowed the cheery, glossed-over tourist vision to take hold, but have always seen a darker side of the city: a once powerful trade and cultural capital transformed into a sinking, aesthetic skeleton. For Balzac, it was the perfect frame for a Prince with only a title and no wealth; for Mann, it allowed for the exploration of beauty tainted by disease...

Author: By Rachel A. Stark, CRIMSON STAFF WRITER | Title: The Façade | 8/11/2009 | See Source »

...maybe it is unrealistic to try and separate the tourists from the city, to try and say that the hustling and bustling, the sites, the souvenirs, are somehow a façade for a sadder and darker place. Perhaps along with gondolas and bridges, the city should be thought of as a place where, as you dine along the Grand Canal between the mainland and Giudecca, you should expect small cities to float by you: cruiseships so enormous that they form a shadow over the island as the passengers onboard wave down to you. Perhaps you should expect that...

Author: By Rachel A. Stark, CRIMSON STAFF WRITER | Title: The Façade | 8/11/2009 | See Source »

...sure, even if darker scenarios never unfold and China's economy continues to power ahead, it will probably not, on its own, be enough to drag the rest of the world into a recovery. Size matters. The U.S. has a $14 trillion economy; China's is $4.4 trillion. The U.S. accounted for nearly 21% of total global GDP last year; China just 6.4%. Chinese consumption, in other words, is growing - but is still insufficient to lift the world's advanced economies out of recession. Consumer spending drives less than 40% of China's GDP; in the U.S. before the bust...

Author: /time Magazine | Title: Can China Save the World? | 8/10/2009 | See Source »

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