Daily Brief – Germany

Germany

The post WW2 economic much lauded miracle that was Germany is at odds with 2024 Germany which managed a 0.2% increase in GDP in Q1 but fell by 0.1% in Q2. That means that in Q2 Germany has slid to the foot of the table with USA at the other end at +2.8% with China, Spain, Japan and UK averaging +0.75%. This anaemic performance is not only bad news for Germany but also for the EU which at this point grew 0.3% but is of course dependent on the German locomotive to pull the rather long train that is the EU.

EUR/USD 1.1154.

Surf Dog Surf-A-Thon 

Only in California, USA: dogs are being put through their paces ahead of the big competition on September 8 which will determine this year’s winner of the dog surfing competition. In case you are reading this anywhere near San Diego, head to Del Mar just north of the City and you can watch the dogs in action. Woof. Pretty much on a par in terms of excitement with the just announced news that Oasis are reunited and planning a reunion tour.

USD/CAD 1.3472.

Venice, Italy

Today marks the start of the 81^st Venice Film Festival the world’s oldest film festival. The tipped winners of the Golden Lion are in no particular order: Joker(Folie a Deux, The Room Next Door, Queer, Babygirl, Love, The Brutalist, Maria, April, The Quiet Son and Harvest. Many more fun things to do in Venice than sit in screening rooms in such splendid late summer weather with what seems at first glance to be a less than inspiring clutch of entries but chacun a son gout.

EUR/GBP 0.8441.

Kansas, USA

Mount Scholastica, Kansas is where 80 nuns from the Benedictine order are taking on Google, Target and Citigroup on issues ranging from Al to measuring pesticides to respecting the rights of indigenous people. Although tagged as investment activism it is unclear whether the order is in fact an investor or whether it is more a case of moral suasion. Either way the nuns have captured headlines in the dog days of August. Go nuns.

USD/JPY 144.26.

You’re still the one

This day in 1965 Canadian chanteuse Shania Twain was born so a happy birthday to her. This song was filling the airwaves around the world in 1997 to the extent that it was difficult to avoid hearing it. One of our readers is known to have performed a karaoke duet in 2000 with the then object of his affections in a Koh Samui night club. The song at least is still as good today as it was then:

Looks like we made it
Look how far we’ve come, my baby
We mighta took the long way
We knew we’d get there someday

They said, “I bet they’ll never make it”
But just look at us holding on
We’re still together, still going strong

Mm (you’re still the one)
You’re still the one I run to
The one that I belong to
You’re still the one I want for life
(You’re still the one)
You’re still the one that I love
The only one I dream of
You’re still the one I kiss goodnight

Ain’t nothin’ better
We beat the odds together
I’m glad we didn’t listen
Look at what we would be missin’

They said, “I bet they’ll never make it”
But just look at us holding on
We’re still together, still going strong

oh
You’re still the one I run to
The one that I belong to

Discussion and Analysis by Humphrey Percy, Chairman and Founder

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