As an American-German family living on both sides of the Atlantic, I must sadly agree with Janan Ganesh’s assessment in his characteristically insightful article “Why Europe will not catch up with the US” (Opinion, September 19). He captures the core issues with precision. However, I find myself even more pessimistic about Germany’s ability to preserve the European “dolce vita” beyond Generation X.

The challenges facing Germany are multi-faceted. Entrepreneurs here continue to struggle with a lack of support and access to funding, which stifles innovation and economic growth. Despite the growing need for modernised industries and fresh ideas, the “old boys’ club” mentality persists, keeping power concentrated in the hands of the traditional elite. This resistance to change is not just limiting entrepreneurship but also the ability of Germany to adapt in a rapidly evolving global economy. Moreover, the country’s education system is underfunded, leaving younger generations with fewer opportunities to compete in a highly skilled, global workforce.

At the same time, the burden on the social welfare system is at an all-time high, with a worrying trend that many welfare recipients and their offspring may remain dependent on state support. This situation risks creating a growing divide between those who contribute to the system and those who rely on it, further hampering economic progress.

My 20-year-old, who sees these issues first-hand, recently commented that if things continue this way, she may reluctantly move back to the US — a decision she views as a last resort.

It’s a sentiment I hear echoed more often by young people in Germany, and it’s deeply concerning for the country’s future.

Alka Schumacher
Cologne, Germany

Unlimited Co-founder, CEO, and chief investment officer Bob Elliott joins Josh Lipton and Madison Mills on Market Domination after last week’s rate cut to discuss some of the top stories of the day, including concerns about the Chinese economy and rising gold prices, breaking down what investors need to know.

Elliot tells investors the state of China’s economy is “not likely to have a meaningful impact on US inflation numbers ahead; when it comes to growth, the US economy is pretty insulated from Chinese growth and not likely to have much of an impact.”

In regard to the impact on oil prices, Elliot says, “We’re really in this range here on oil (CL=F) where we’re not likely to see meaningfully more elevated oil prices, nor meaningfully lower oil prices ahead. And so, what’s going to really determine what’s going on with the inflation and growth picture in the United States? It’s really going to be about what’s happening with labor. As well as shelter costs and goods prices that are not particularly connected to oil prices, like used and new cars.”

As gold (GC=F)prices reach record highs, Elliot says “The rise in gold prices is really a good indication that the Fed is likely pursuing a policy that’s too accommodative relative to conditions. And, while there’s been a good bid, particularly from US investors in the bond market, what we see is, you know, big global holders of US bonds trying everything they can to lower their allocation to bonds and increase their allocation to gold. And the Fed’s policy here only reinforces that trend.”

For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.

This post was written by Naomi Buchanan.

Deals

Market Impact

The biggest-ever deal in gaming could result in higher prices, fewer choices, and less innovation for millions of players, as well as stifling competition in cloud gaming. Shares in Activision were down 3% in early trading in New York. Microsoft, which announced an AI-driven revamp of its search capabilities on Tuesday, was up 2.4%.

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Violence against women and girls continues to be a major problem in Colombia, with femicides and other forms of gender-based violence occurring across the country. Through the media outlet Pilas, Ana Sofia Cortes Parra dives into the untold and underreported stories of femicide in Colombia in “Se Ampliará la Línea de Atención para Víctimas de Violencia de Género en Colombia,” published in February 2024.

Many Colombian women have been victims of abuse, discrimination, and femicide because of a sexist and patriarchal society. Despite this, there is little recognition of this crisis in Colombia. The number of victims has not received much coverage by the corporate media and the public has been kept poorly informed as a result.

However, in February 2024, Colombia’s Vice President and Minister of Equality and Equity, Francia Márquez, announced new measures to address this crisis. These measures include the expansion of the hotline for victims of gender-based violence and the establishment of a psychosocial hotline for men who are potential aggressors. These measures to combat  gender-based violence provide much-needed resources to women in need, and, ultimately, could save lives. But the need for further changes remains acute.

In 2023 alone “154 femicides were recorded in the region,” Parra reported. Francia Márquez states that this region is where “the ‘Government of Change’ is committed to guaranteeing women’s rights” by improving living conditions and preventing murders. The “Government of Change” calls on men to take responsibility and respect women’s dignity and rights. The Ministry of Equality and Equity has spent $32.4 billion pesos (about $100 per person, in US dollars) on a new program to address violence against women.

Previous programs have attempted to prevent ongoing violence. The “Inter-American Convention on the Prevention, Punishment, and Eradication of Violence against Women” was ratified by the State of Colombia in 1995. This program identified three types of violence against women: physical, sexual, and psychological violence.

Beyond Colombia, violence against women has been declared a global health problem. However, there has been sporadic corporate media coverage in the United States, such as an April 2023 CNN report of an attack on a women’s rights activist, a report which mentions femicide in Colombia. A non-corporate source of reporting on this issue is UN Women Colombia, which is a United Nations organization dedicated to promoting gender equality and women’s empowerment.

The Guardian has reported on this issue, but we note that it is a left-leaning source based in Great Britain, and the article was published in January 2021, more than three years prior to the PILAS article. Violence against women in Colombia has been under-reported in the U.S., especially given the large number of Colombians or people with Colombian origins living in the United States.

Source: Ana Sofía Cortes Parra, “Se ampliará la línea de atención para víctimas de violencia de género en Colombia,” PILAS, February 20, 2024.

Student Researchers: Diana Rodriguez, Gianna Demo, Henry Bendickson, and Sean Carroll (College of St. Benedict and Saint John’s University)

Faculty Evaluator: Professor Bruce Campbell (College of Saint Benedict and Saint John’s University)

Business & Finance

Market Impact

The $4.45 billion IPO values Lineage at more than $18 billion and is the biggest since chip designer Arm’s $4.87 billion offering last September.

Authorities are offering a reward of up to $100,000 in exchange for more information about multiple shooters who opened fire in Birmingham, Alabama, over the weekend in a mass shooting that left four people dead and 17 others injured.

The shooting took place on Saturday night in Birmingham’s Five Point South neighborhood when officers responded to reports of shots fired and found multiple victims. Five of the 17 injured still remain in the hospital as of Monday, according to authorities.

Birmingham Police Chief Scott said some of the deceased have “extensive criminal histories” and “because of that, there’s often times motivation from others and there’s people who are willing to pay to have them killed.” 

Authorities theorize that the shooters initially sought to harm one person, but bystanders were also injured. The FBI and Crime Stoppers are each offering $50,000 for tips that lead to an arrest or conviction of those involved. “If you, or you know someone, who has information about those involved in Saturday’s mass shooting, know that you can remain anonymous,” FBI Birmingham Special Agent in Charge Carlton Peeples said at the news conference.

There are currently no suspects in custody. 

What happened? 

Officers first received calls alerting them to the shooting at Five Points South, an entertainment district in the city, around 11 p.m Saturday, Birmingham police officer Truman Fitzgerald said during Monday’s press conference. Sources on scene say that multiple people pulled up in a vehicle, got out, and shot the victims before fleeing the site in the same vehicle. Investigators said during Sunday’s press release that they believe that shooters used gun conversion devices, or illegal items that can be applied to firearms to turn them into fully automatic weapons that discharge all bullets in seconds.

More than 100 shell casings were found at the shooting site, according to Thurmond. 

Officers say that when they arrived they found several victims, three of which were “unresponsive” —two men and one woman—that were later declared dead, according to authorities. A fourth victim was transported to the hospital, where they later died.

Who are the victims? 

 The victims include: Anitra Holloman, 21; Roderick Lynn Patterson Jr., 26; Tahj Booker, 27; and Carlos McCain, 27.

So far in 2024, there have been 404 mass shootings in the U.S., per the Gun Violence Archive. U.S. Surgeon General Dr. Vivek Murthy declared firearm violence a public health crisis in June.