GOOD DAY FOR: A European vacation, after the British pound weakened to a five-year low against the U.S. dollar, trading at $1.64 to the pound Tuesday. The euro also fell to its lowest level since February 2007. The currency moves were driven by expectations that European central banks will cut interest rates. “The U.S. is regarded as being able to weather a recession much better than the euro zone,” said Commerzbank strategists. (MarketWatch)
BAD DAY FOR: Driving down Rodeo, as the heart of Beverly Hills’ luxury shopping district is holding up well, with wealthy locals and shop-happy foreign tourists spending like there’s no recession. Nationally, consumer purchases dropped 1.2 percent in September. “When you’re in Los Angeles, you come to Rodeo Drive as part of the whole Beverly Hills shopping experience,” said Australian tourist Jason Finlayson. (Bloomberg)
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- How a degree from Duke University dashed my dreams of buying a home
- Half the world's population lives in these 6 countries
- This is why you can't trust the NSA. Ever.
- Why you should stop believing in evolution
- Innocent before proven guilty? The bizarre bipartisan rush to clear Rick Perry
- The single best way to help your kid succeed at school
- What Keeping Up with the Kardashians can teach America about interracial marriage
- What would a U.S.-Russia war look like?
- Welcome to the age of ambivalent feminism
- Today in history: Lincoln reveals the real goal of the Civil War
Subscribe to the Week