America’s State Of Disunion & The State Of The European Union | Figuring Out Finances

“Success is not final, failure is not fatal: it is the courage to continue that counts.”

“Continuous effort – not strength or intelligence – is the key to unlocking our potential.”

“I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” (Happy Year of the Pig!)

– Winston S. Churchill

State Of The European Union: President Trump promised to shake things up once in office, and that he’s certainly done. For two years his governance by disruption has upended the status quo at home and abroad. Nowhere has the upheaval been more distressing and perplexing than among America’s European allies. They see a trail of wreckage in Trump’s wake: a neutered Iran nuclear deal, equally retaliatory tariffs, a global climate accord sans the world’s largest economy, a potential arms race triggered by the cancellation of a key nuclear treaty, and a unilateral retreat from Syria without so much as a courtesy call to allies working alongside US forces.

German Chancellor Angela Merkel, British Prime Minister Theresa May and French President Emmanuel Macron have tried different strategies to forge relationships with Trump, but all have struggled to develop something consistent and reliable. These leaders are stunned by how quickly the president, by design or indifference, has weakened the foundation of the transatlantic relationship that past American presidents nurtured for over 70 years. Former German foreign minister Sigmar Gabriel said: “[Trump] has done damage that the Soviets would have dreamt of. We can’t live with Trump. And we can’t live without the United States.”

Europe continues struggling to keep big, multilateral initiatives alive without American support. But the deterioration of transatlantic ties is happening concurrently with a litany of other challenges facing many of the continent’s countries. Domestic turmoil has emasculated Britain, France and Germany’s leaders. Britain is arguing over staying in the EU or risking life beyond. And on Europe’s eastern flank, populism and Trump-style nationalism is what’s in style. Some predict that if Trump escalates his attacks in the next two years — or in the coming six — Europe is fragile enough that it could crack.

Additional reads:

• U.S. to stop complying with nuclear pact with Russia after talks flop(Reuters)
• Russia plans new missile systems to counter U.S. by 2021 (Reuters)
• US commander says he was ‘not consulted’ on decision to leave Syria: Gen Joseph Votel, head of Central Command, warned Isis will continue to pose a threat following US withdrawal (Guardian)
• In Moscow, Afghan Peace Talks Without the Afghan Government(NYT, $)
• May’s pledge on Irish border threatens to reopen Tory rift: Brexiters fear PM’s Belfast speech steps back from previous assurances(Guardian)

When It Rains It Pours…It Really Really Pours: After weeks of unrelenting heat across Australia, causing raging brushfires, severe droughts and massive animal death, heavy rain and unprecedented flooding in northern Australia forced hundreds of residents to evacuate their homes. Between January 26 and February 4 close to four feet of rain fell on Townsville, a coastal city in the state of Queensland. “In seven days we’ve received our annual total rainfall,” said the mayor of Townsville. “We’ve never seen weather like this.” The acting chief executive of the Climate Council, an Australian research group, noted that if greenhouse gas emissions continue unabated rainfall around the world is likely to become even more intense. (NYT) Additional read: “Australians could find crocodiles, snakes in ‘unexpected places’ after floods, officials warn.” (WaPo, $)

To Strike Or Not To Strike: On Tuesday Iran warned Israel yet again to expect a “firm and appropriate” response if it did not stop its continued air strikes on Syrian targets. Israeli Prime Minister Benjamin Netanyahu did not respond directly, saying only that it was important to block Iranian influence in Syria. Israel views Tehran as its biggest security threat and has repeatedly attacked Iranian targets and those of allied militia in Syria. With an election in April, Israel has been increasingly open about carrying out air strikes. (Reuters) Additional read: Ultra-Orthodox Israeli Woman Defies Rabbis and Runs Left (NYT, $)

More World News

• As Magnetic North Pole Zooms Toward Siberia, Scientists Update World Magnetic Model (NPR)
• Japan’s deputy PM blames women for nation’s falling population: Anger after Taro Aso appears to say women not giving birth are the ‘problem’ (Guardian)

Going to the Galápagos Is Easier and Cheaper Than Ever. That Might Not Be a Good Thing.: Some conservationists and travel experts are worried about the environmental impact of a growing number of visitors on the fragile, otherworldly archipelago. (NYT, $)

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America’s State of Disunion: President Trump delivered his second State of the Union address to both chambers of Congress Tuesday night. It lasted 82 minutes and was frequently interrupted by applause and standing ovations. The president enumerated a list of his accomplishments, from creating the “unprecedented economic boom…that has rarely been seen before” to overseeing the largest number of new jobs and the lowest unemployment ever, to cutting more regulations than any other administration, raising wages higher than in decades, and lifting nearly 5 million Americans “off food stamps.” Less than two weeks after he was forced to end the longest government shutdown in history Trump was telling lawmakers: “We must choose between greatness or gridlock, results or resistance, vision or vengeance, incredible progress or pointless destruction.”

Trump talked of his plans to bring home US troops fighting in the Middle East, and to send thousands more troops to our “lawless” southern border to prepare for the “tremendous onslaught” of huge organized caravans of immigrants heading toward America. The president said his administration had recognized Venezuela’s opposition leader as the interim president, tying that country’s economic collapse to the current dictator’s socialist policies. He declared the US will never be a socialist nation, apparently an indictment of calls by some Democrats for universal health care.

Up at the top of memorable lines was the president’s announcement that the only things that could stop America’s economic miracle are “foolish wars, politics, or ridiculous partisan investigations.” He added: “If there is going to be peace and legislation, there cannot be war and investigation. It just doesn’t work that way!” Democratic House members saw that as the president’s admonition against conducting committee oversight investigations.

Additional reads:

• “Freedom House downgrades U.S. on its freedom index, rebukes Trump. Democratic freedoms are under attack in the United States because of the actions of President Trump, threatening to hasten the retreat of democracy around the world, according to a report released Monday by Freedom House.” (WaPo)

• After Super Bowl win, Patriots players waste no time saying they won’t visit White House (WaPo, $)
• End of Mueller investigation could spark battle between Justice Dept. and Congress over release of special counsel’s report (WaPo, $)
• Migrant caravan reaches town on Texas border (WaPo, $)
• The incredible turnover in Trump’s Cabinet in 1 photo (CNN)
• 2020 Democrats Agree: They’re Very, Very Sorry (NYT, $)

Figuring Out Facebook

“As I observed more than once at Facebook, and as I imagine is the case in all organizations from business to government, high-level decisions that affected thousands of people and billions in revenue would be made on gut feel, the residue of whatever historical politics were in play, and the ability to cater persuasive messages to people either busy, impatient, or uninterested (or all three).” – Antonio Garcia Martinez, Chaos Monkeys: Obscene Fortune and Random Failure in Silicon Valley. One of the best books about startups, Silicon Valley, Facebook, and how online advertising works. Michael Lewis’s Liar Power : Finance :: Martinez’s Chaos Monkeys : Startups & Technology.

• Facebook: Where Friendships Go to Never Quite Die: On its 15th anniversary, a look at how the site has changed social life by keeping weak connections on life support forever (Atlantic)
• Why no one really quits Google or Facebook (Techcrunch)
• Has Facebook been good for the world?: 15 influencers weigh in on the company’s 15th birthday. (Vox)
• I Was Right About Mark Zuckerberg: The author of the book that inspired The Social Network reflects on a decade of Mark Zuckerberg’s career. (Atlantic)
• Jill Abramson on media layoffs: ‘The villains are Facebook and Google’ (Guardian)
• 15 Moments That Defined Facebook’s First 15 years (Wired, $)

Figuring Out Finances

• Follow This One-Size-Fits-All Financial Advice (Two Cents)
• Soak the rich? Americans say go for it: Surveys are showing overwhelming support for raising taxes on top earners. (Politico)
• Why are millennials burned out? Capitalism.: Author Malcolm Harris on why millennials need a revolution. (Vox)
• 4 Simple Habits to Build Wealth Faster: Sure, making a lot of money helps, but research shows there are four behaviors that can be even more important to building true wealth. (Kiplinger)
• From work to family – the experts’ guide to a low-stress life: How to ease your anxiety about relationships, work, family or money(Guardian)
• Tech Is Splitting the U.S. Work Force in Two: A small group of well-educated professionals enjoys rising wages, while most workers toil in low-wage jobs with few chances to advance. (NYT, $)

“Success is stumbling from failure to failure with no loss of enthusiasm.” – Winston S. Churchill

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