OOD 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
- Who are the real gay marriage bigots?
- Sorry Belle Knox, porn still oppresses women
- What would a U.S.-Russia war look like?
- What the collapse of the Ming Dynasty can tell us about American decline
- Religious liberty should be a liberal value, too
- Watch The Daily Show mock Fox News' confused man-crush on Vladimir Putin
- Why is American internet so slow?
- Why states should stop limiting the alcohol content in your beer
- Don't worry: World War III will almost certainly never happen
- 10 things you need to know today: March 8, 2014
Subscribe to the Week