Chicago Tribune (August 29)
“The scale of flooding in the Houston area as a result of Hurricane Harvey is hard to imagine, and the images of suffering are horrifying to behold. In central and south Texas, an area the size of Michigan is now a storm-tossed lake.”
Tags: Flooding, Horrifying, Houston, Hurricane Harvey, Michigan, Scale, Storm, Suffering, Texas
Euromoney (March 24)
“The UK economy seems at last to be suffering from the erosion of purchasing power by sterling-induced inflation. All of this smacks of stagflation, a constitutional crisis and rising political risk. UK gilts will suffer.”
Tags: Constitutional crisis, Economy, Erosion, Gilts, Inflation, Political risk, Purchasing power, Stagflation, Sterling, Suffering, U.K.
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
