Variations in global and regional precipitation are explored using the Global Precipitation Climatology Project (GPCP) analysis, including inter-annual variations and long-term (1979-2007) linear changes (trends?).  Impacts of ENSO and volcanic eruptions are detailed and precipitation-temperature relations are explored on both inter-annual and longer time scales.  The Tropical Rainfall Measuring Mission (TRMM) is briefly reviewed and the TRMM Multi-satellite Precipitation Analysis (TMPA) is used to explore rainfall distribution characteristics on the daily scale, including extremes.  Examples of real-time detection of heavy rain events and flooding using TMPA rainfall estimates, land surface information and hydrologic models will also be described.