The German Election
Monday, February 24th, 2025
World Events — German Election Results
The Economists
Friedrich Merz's conservative CDU/CSU bloc has won Germany's election with 29% of the vote, paving the way for him to become the next chancellor. However, forming a coalition government will be challenging. The far-right AfD surged to second place with about 20% of the vote, while Chancellor Olaf Scholz's SPD suffered a historic defeat, finishing third with around 16%. Merz will likely seek a coalition with the SPD, as he has ruled out working with the AfD.However, this "grand coalition" may face difficulties due to ideological differences and Merz's hardline stance on immigration. The new government will need to address pressing issues such as economic stagnation, migration concerns, and Germany's role in European security. Notably, Merz has called for "independence" from America and suggested the possibility of an independent European defense capability to replace NATO, signaling a potential shift in Germany's foreign policy approach.
Tech — Musk Wants to roll out Tesla Alone
Bloomberg
Uber CEO Dara Khosrowshahi has revealed that Elon Musk intends to develop Tesla's robotaxi service independently, setting the stage for direct competition in Austin, Texas. Speaking at the FII conference in Miami on February 21, 2025, Khosrowshahi disclosed that he had discussions with Musk, but Tesla opted to "build it alone". As a result, Uber and its partner Waymo will be competing with Tesla's robotaxi service when it launches in Austin this June. Despite the competitive stance, Khosrowshahi expressed openness to future collaboration, stating, "Life is long, but we would love to partner with them". This development marks a significant milestone in the autonomous ride-hailing industry, with Austin becoming a key battleground for these tech giants. Uber's strategy involves partnerships with multiple manufacturers and investments in self-driving technology companies, while Tesla aims to leverage its in-house capabilities and brand strength.
Business — China’s Local Government Bond Rush Worsens Liquidity Crisis
Bloomberg
China's local governments are undertaking an unprecedented bond issuance to refinance hidden debt, exacerbating liquidity strains in the financial system. Regional authorities are set to sell 1.69 trillion yuan ($233 billion) of bonds in the first two months of 2025, with about half (850 billion yuan) dedicated to replacing off-balance sheet debt. This massive offering has intensified the cash squeeze, as banks scramble to absorb the new securities. Money market rates have surged recently, with the People's Bank of China maintaining tight liquidity conditions to support the yuan. The refinancing push follows China's late 2024 approval for regional authorities to swap six trillion yuan of hidden debt over three years, aiming to reduce interest burdens. However, this bond rush is creating challenges for banks in managing liquidity and could have significant implications for China's money and bond markets.
Health — Effects of Anti-depressants on Your Body
Verywell Mind
Depressants are a class of drugs that work by slowing brain activity through affecting neurotransmitters in the central nervous system, and they include barbiturates, benzodiazepines, and non-benzodiazepine hypnotics. These drugs are often prescribed to treat conditions like anxiety, insomnia, and seizures, and they can be effective for managing these conditions when taken as directed by a healthcare provider. However, depressants carry potential risks such as misuse, dependence, and overdose. Long-term use can lead to tolerance, requiring higher doses to achieve the same effect, and abrupt cessation can cause withdrawal symptoms like anxiety, hallucinations, and seizures. Due to these risks, it is crucial to take depressants exactly as prescribed, avoid combining them with alcohol or other drugs, and consult with a healthcare provider before discontinuing their use to minimize the risk of adverse effects.
Bake — No-bake Breakfast Cookie
Kickstart your day with these delicious no-bake breakfast cookies, a simple and nutritious option for busy mornings! Loaded with wholesome ingredients like oats, almond butter, chia seeds, and dried blueberries, these cookies are a great source of fiber, healthy fats, and plant-based protein to keep you satisfied and energized. Their convenient grab-and-go format makes them the perfect guilt-free breakfast when you're short on time.
Eating Well
Song Rec — I Love You So (The Welters)
Quote of the Day
“No amount of regretting can change the past, and no amount of worrying can change the future.” - Roy T. Bennett