Morning Brief – Compromise and Consensus

Compromise and Consensus

 

Those of us who have worked in Germany are familiar with these concepts or konzepts embedded solidly in post WW2 business culture (geschaftskultur). This weekend the CDU/CSU parties were hoping that there would be the first leading to the second in order for them to arrive with an agreed successor to Chancellor Angela Merkel when she steps down this autumn. Despite constant communication and assurances of mutual admiration over the weekend, neither Armin Laschet nor Markus Soeder has conceded to the other thereby necessitating a leadership election. This is clearly a key moment for Germany bearing in mind that Angela Merkel has been in power as Chancellor since 2005, but it is also key for the EU and the EUR to have a worthy successor and stabilising influence identified ahead of Merkel’s departure. This rift is threatening the likelihood of the CDU/CSU coalition retaining power with the Greens making political capital out of this dissent. EUR/USD at 1.1980 over the weekend looking vulnerable to a setback.

 

Fast Market or Hot Market?

 

This time it literally is a hot market and it’s to do with hot tubs which have soared in demand during this period of non-travel. Brits have gone nuts for hot tubs and nowhere more so than in the East Midlands and sportingly (given the propensity for lots of rain) South Wales. In case you think this is to do with an adult paddling pool, it’s rather more than that. A hot tub with 4-6 seats costs GBP5,000-GBP20,000. But then it starts: above ground or sunken? Access..you may need a crane to deliver the tub to site? That alone will cost up to GBP 4,000. Then there is the electrical supply: chances are that tubbers will need to install extra equipment. Then there is landscaping, lighting, sound system and no doubt access to a refrigerator, at least, to store the prosecco. Obviously that excludes outside shower and WC. For truly authentic hot tubbers, it has to be a Riverstone which is made from volcanic basalt and retails at GBP 54,000. Come on in!

 

Who Let The Dogs out?

 

Yes it was 20 years ago that the Baha Men, the Bahamian reggae funk band released their version of this Anselm Douglas song. Formed in 1977, the Baha Men had it is fair to say taken a measured and careful approach to stardom having been largely unknown outside pubs and clubs in the Bahamas for their first 23 years. Apart from this song which has been re-released by the Baha Men most recently in 2018, their only other work has been the appropriately named 2019 number, Let’s Go….We are still waiting(!). There is more….much much more but here is a taste of WLTDO-

 

Who let the dogs out?

Who, who, who, who, who?

Who let the dogs out?
Who, who, who, who, who?
Who let the dogs out?
Who, who, who, who, who?
Who let the dogs out?

Well, the party was nice, the party was pumpin’
Yippie yi yo
And everybody havin’ a ball
Yippie yi yo

I tell the fellas start the name callin’
Yippie yi yo
And the girls respond to the call
I heard a woman shout out

Who let the dogs out?
Who, who, who, who, who?
Who let the dogs out?
Who, who, who, who, who?

Who let the dogs out?
Who, who, who, who, who?
Who let the dogs out?
Who, who, who, who, who?

I see de dance people had a ball
‘Coz she really want to skip town
Get back, Gruffy, back, Scruffy
Get back you flea infested mongrel

Gonna tell myself, “Hey, man, no get angry”
Yippie yi yo
To any girls callin’ them canine
Yippie yi yo

 

 

 

Discussion and Analysis by Humphrey Percy, Chairman and Founder

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