Washington Post (January 24)
“The Washington region on Sunday lurched fitfully from under one of the heaviest snowfalls in memory, with federal and local governments set to be closed on Monday, the Metro system prepared to offer severely limited service Monday, and authorities warning that it could take days for the plows to reach some residential streets.”
Tags: Authorities, Closed, Government, Metro, Snowfall, Warnings, Washington
The Economist (January 23)
Oil price slumps usually do “the world a power of good. The rule of thumb is that a 10% fall in oil prices boosts growth by 0.1-0.5 percentage points.” This time, however, the abrupt 75% drop in the price of oil is testing the old paradigm. “Producers are suffering grievously. The effects are spilling into financial markets, and could yet depress consumer confidence. Perhaps the benefits of such ultra-cheap oil still outweigh the costs, but markets have fallen so far so fast that even this is no longer clear.”
Tags: Benefits, Consumer confidence, Costs, Growth, Markets, Oil, Price slumps, Producers, Suffering, Ultra cheap
