Former Zillow Execs Target $1.3T Market

One co-founded Zillow. The other sold his company to Zillow for $120M. Now they're transforming a $1.3T market via co-ownership. Pacaso's already earned $110M+ in gross profit and reserved the Nasdaq ticker PCSO.

Germany's economy isn't growing. But its quarrelsome government can't agree on a way forward

GEIR MOULSON
October 30, 2024

BERLIN (AP) -- Germany's economy isn't growing and the governing coalition has a lot of ideas on how to fix it. But it can't agree which the right one is.

The latest outbreak of infighting in Chancellor Olaf Scholz's government has raised questions about whether it will get anything done in the 11 months before Germany's next election is due -- and whether it will survive until then.

There's agreement that the state of the German economy, Europe's biggest, demands action. It is expected to shrink in 2024 for the second year in a row, or at best stagnate, battered by external shocks and home-grown problems including red tape and a shortage of skilled labor.

But there's no unity on the solution. As Finance Minister Christian Lindner put it last week: "There's no shortage of ideas. What there is a shortage of at present is agreement in the governing coalition."

A coalition of rivals

Lindner himself has been a central player in the cacophony, adding to a long list of publicly aired disagreements that have helped make the nearly three-year-old government very unpopular.

Scholz's center-left Social Democrats, Vice Chancellor Robert Habeck's environmentalist, left-leaning Greens and Lindner's pro-business Free Democrats -- a party that in recent decades has mostly allied with conservatives -- set out in 2021 to form an ambitious, progressive coalition straddling ideological divisions that would modernize Germany.

The government can point to achievements: preventing an energy crunch after Russia cut off its gas supplies to Germany, initiating the modernization of the military and a series of social reforms. But the impression it has left with many Germans is of deepening dysfunction.

"Each party is going its own way -- you get the impression they're already in election campaign mode," Clemens Fuest, the head of the Ifo economic think-tank, told ZDF television. "If that's the case, if the chancellor can't manage to get the government to pull together, then they should actually end the coalition."

Deep economic divisions

Last week, Habeck proposed a state investment fund to help companies of every size. It was promptly rejected by both Lindner and Scholz. Lindner's party organized a meeting with leaders of business associations for Tuesday, the same day that Scholz had already arranged a closed-door meeting of his own with industry and union leaders.

Scholz said that "we must get away from theater stages; we must get away from something being presented and proposed that then isn't accepted by everyone." Still, his coalition partners weren't invited to his own meeting with industry leaders.

The divisions are particularly deep on economic and financial issues. Politicians on the left want to see massive state investment and reject talk of cutting welfare programs. Lindner's Free Democrats categorically reject any tax increases or changes to Germany's strict self-imposed limits on running up debt, and say it's time to save money -- for example, on benefits for the long-term unemployed.

Budget friction

The collision of philosophies has complicated putting together the national budget since Germany's highest court last November annulled a government maneuver to repurpose 60 billion euros ($64.8 billion) originally meant to cushion the impact of the COVID-19 pandemic for measures to help combat climate change and modernize the country.

That forced the coalition into a hasty rehash of the 2024 budget, including subsidy cuts that prompted protests by farmers.

The 2025 budget only intensified the friction, which continued unabated through campaigns for European and state elections in which the governing parties were punished.

Scholz, Lindner and Habeck presented an agreement in July on a budget that includes higher spending on defense and affordable housing, along with a stimulus package. But it got bogged down in another internal dispute, and the coalition leaders took more than a month to emerge with a second deal tweaking details.

That budget has yet to go through parliament. Lawmakers need to iron out the final draft by Nov. 14, and the recent skirmishes inside the coalition have some wondering whether the government will survive beyond that.

"This government is to all intents and purposes no longer capable of acting," opposition leader Friedrich Merz told ARD television on Sunday. "It is at an end."

On the face of it, there's little incentive for the governing parties to risk facing voters earlier than next September. Merz's center-right Union bloc leads national polls, the far-right Alternative for Germany is performing strongly, all three governing parties are weak and the Free Democrats are around or below the 5% of the vote needed to keep any seats in parliament. But there's also little sign of improvement.

The government's own statements have fed questions over its future. In early October, Lindner said that "stability is of paramount importance for Germany."

"But at some point, a government can itself become part of the problem," he told news portal Table.Briefings. "A government must always ask itself whether it meets the demands of the time."

Scholz has urged his partners to stick together until the end of their term, saying last week that "anyone who has a mandate must fulfill that mandate."

"No one should just slink away," he said in an interview with ZDF. "That's not my style, at least."

Continue Reading...

Popular

Mark Cuban Reacts to Elon Musk-Donald Trump Feud

The escalating public feud between Elon Musk and President Trump has prompted a response from Mark Cuban.

Trump's $500B Plan Is Fueling These Monthly Dividends - Ad

Just 24 hours after Trump returned to office, he signed a secretive document tied to a $500 billion income loophole. It's now fueling monthly payouts like $1,125... $1,792... even $4,290 - regardless of market direction. No stock picking. No timing. Just steady, automatic income.

Cathie Wood Dumps Another $5.2 Million Of Palantir Stock Amid Trump Administration-Linked Surveillance Controversy

On Wednesday, Cathie Wood's Ark Invest sold 40,035 shares of Palantir Technologies Inc, amidst controversy. They bought shares of Guardant Health Inc and Veracyte Inc.

A Better Hedge Than Gold? - Ad

While the whole world is piling into gold as a hedge... White House documents reveal Trump is betting big on a completely under-the-radar resource. This little-known resource is minting 1,600 millionaires every single day... And investors have a rare opportunity to take advantage before everyone else catches on.

White House Unveils New Portrait Of President Donald Trump Amid Criticism Over Self-Promotion

The White House released a new portrait of Donald Trump, sparking debate over the use of official imagery for political purposes.

CoreWeave, Nvidia, Wells Fargo, CrowdStrike, Robinhood: Why These 5 Stocks Are On Investors' Radars Today

U.S. stock markets ended the day in the green, with the Nasdaq climbing more than 150 points, up 0.8% to 19,398.86. The S&P 500 advanced 0.58% to finish at 5,970.37, while the Dow Jones Industrial Average added 0.5%, closing at 42,519.64.

Why BlackRock is Hoarding 6X More Bitcoin Than Miners Produce - Ad

A Bitcoin supply shock is building. Institutions and ETFs are buying faster than miners can keep up - creating a shortage most investors haven't noticed. If Bitcoin hits $300K, altcoins could explode 1,000%+. We wrote Crypto Revolution to help you prepare.

IonQ Buys Oxford Ionics In $1.075 Billion Deal To Supercharge Quantum Tech

IonQ to acquire Oxford Ionics for $1.075 billion, combining their quantum computing technologies to deliver powerful and innovative systems.

How To Build a Home in Nearly 4 Hours - Ad

The U.S. is short 2.3M homes, making affordable, efficient housing critical. BOXABL brought assembly lines to construction, building homes in hours, not months. With 700+ built and one of America's largest homebuilders as an investor and partner, they're growing fast.

Is Elon's Empire Crumbling? - Ad

Jeff Brown - the legend who called Tesla and Nvidia early - says Elon is about to launch a $25T AI revolution. This isn't another chatbot. It's real-world AI that could 14X the impact of ChatGPT. But after July 23rd, it may be too late.

Jim Cramer Likes Dominion Energy, But Isn't 'A Fan' Of This Real Estate Stock

On CNBC's "Mad Money Lightning Round," Jim Cramer said he likes Dominion Energy, Inc. "It's fine. For a while, I was worried..."

The Father-Son Duo Revolutionizing Homebuilding - Ad

Paolo and Galiano Tiramani founded BOXABL with a disruptive idea: bring factory efficiency to homebuilding. Today, new homes can roll off their assembly lines in ~4 hours - with 700+ built already. Now, they're prepping for Phase 2, combining modules into larger homes and apartments.

Ericsson, Supermicro Partner To Bring 5G-Powered AI To Factories, Retail And Hospitals

Ericsson and Super Micro announce strategic collaboration to accelerate Edge AI deployment. Super Micro stock down 45%, Ericsson up 38% in past year.

Goldman Sachs Bullish On Branded Drug Upside At Teva: What About Viatris?

Goldman Sachs initiates Teva, Viatris, and Amneal, highlighting branded growth and pipeline strength, but one company's unclear outlook.

"Work Is the New Retirement"-Don't Let That Be You - Ad

Social Security's failing. Inflation's rising. And retirees are being forced back to work. That's why I created a new strategy: "AI Royalties." Backed by Trump's $500B plan, it's helping Americans collect up to $4,290/month in second retirement income. My short video explains how.

Chuck Schumer Wants Siri To Play 'Bad Blood' As Elon Musk, Donald Trump Feud Each Other — Mike Johnson Sings A Hawkish Tune

The escalating feud between Elon Musk and Donald Trump has sparked reactions from political leaders, with figures like Chuck Schumer and Mike Johnson weighing in as the conflict threatens to impact both the GOP and Musk's business empire.

Walz: Minnesota Lawmaker and Spouse Killed In 'Politically Motivated Assassination'

Minnesota Gov. Tim Walz (D) said Saturday morning that a Democratic state legislator and her husband were killed, and another lawmaker and his wife injured, in separate "targeted shootings" at their homes.

Gold Just Hit Another Record. This Junior Could Be Next. - Ad

This copper junior was the smallest company invited to a top global mining conference. With nearly 1B pounds CuEq and 50,000m of funded drilling, this story won't stay quiet for long.

Apple Hardware Executive Says iPhone Maker Plans To Use AI For Speeding Up Custom Chip Design: 'High Potential In Getting More Design Work In Less Time'

Apple's top hardware executive Johny Srouji said the company plans to use generative AI to accelerate custom chip design, calling it a major productivity boost and highlighting Apple's bold, no-backup transition to Apple Silicon.

Latin America's Hot Stocks: 3 NYSE Picks To Dodge Trade Wars, Mideast Mayhem

Latin American markets, boosted by Brazil's Bovespa & Mexico's IPC, offer diversification and stability amid tariff threats and chaos. NYSE-listed Vale, Ambev, and Cemex are compelling with high yields, low P/E ratios, and resilience to trade tensions and Middle East volatility.

How high will Bitcoin go in 2025? - Ad

A new coin is emerging in the crypto bull market. Investing now could be like buying Bitcoin in 2013. Before it took off. Or scooping up Ethereum in 2017.. before it soared.

Leonard Lauder, philanthropist who globalized family cosmetic business, dies at age 92

NEW YORK (AP) — Leonard Lauder, a renowned philanthropist who expanded the family cosmetics business into a worldwide empire, has died at the age of 92.

Former Zillow Execs Target $1.3T Market - Ad

One co-founded Zillow. The other sold his company to Zillow for $120M. Now they're transforming a $1.3T market via co-ownership. Pacaso's already earned $110M+ in gross profit and reserved the Nasdaq ticker PCSO.

AMC Eyes Ad Revenue Lift With Premium Pre-Movie Ads

AMC reaches agreement with National CineMedia to run more advertising in theaters. AMC to receive a cut of ad sales. Stock up 0.29% at $3.41.

Snack Wrap unwrapped: Here's why McDonald's is bringing back a fan favorite on July 10

If ever doubted it needed to bring back the Snack Wrap, consider this: Nine years after the fast-food powerhouse the item in the U.S., customers have continued to order it .

Trump's $500B Plan Is Fueling These Monthly Dividends - Ad

Just 24 hours after Trump returned to office, he signed a secretive document tied to a $500 billion income loophole. It's now fueling monthly payouts like $1,125... $1,792... even $4,290 - regardless of market direction. No stock picking. No timing. Just steady, automatic income.

ETFs This Week: Tesla Turmoil, Silver Surge, And A Jobs-Driven Market Rally Drove These 5 ETFs To Outperform

Stocks surged as U.S. jobs report boosted major indexes to multi-month highs. Silver, critical materials, gold, and Bitcoin miners ETFs performed well.

A Better Hedge Than Gold? - Ad

While the whole world is piling into gold as a hedge... White House documents reveal Trump is betting big on a completely under-the-radar resource. This little-known resource is minting 1,600 millionaires every single day... And investors have a rare opportunity to take advantage before everyone else catches on.

22 crew members safe after fire aboard cargo ship carrying electric vehicles off Alaska

ANCHORAGE, Alaska (AP) — The crew of a cargo ship carrying 3,000 vehicles to Mexico, including 800 electric vehicles, abandoned ship after they could not control a fire in waters off Alaska's Aleutian island chain.

Europe's central bank expected to lower interest rates as Trump's trade war threatens growth

FRANKFURT, Germany (AP) — Lower inflation and concern that will slow already modest growth have cleared the way for the European Central Bank to cut interest rates at Thursday's policy meeting, a step that would lower borrowing costs for consumers and businesses and promote economic activity.

Why BlackRock is Hoarding 6X More Bitcoin Than Miners Produce - Ad

A Bitcoin supply shock is building. Institutions and ETFs are buying faster than miners can keep up - creating a shortage most investors haven't noticed. If Bitcoin hits $300K, altcoins could explode 1,000%+. We wrote Crypto Revolution to help you prepare.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright trendadvisor.net
Privacy Policy | Terms of Service