King of the Hill of Beans

Deal or No Deal?

Maybe the best way to describe the much-anticipated, high-stakes meeting between Trump and Xi in South Korea is to borrow a phrase often attributed to the famous economist Yogi Berra: “It’s like deja vu all over again.” Because, after a year of bluster, threats, and market moving social media posts, it sure looks like we’re back where we started; although, now, China is more certain that it can exert its leverage to fend off Trumpian tactics, and even leave Trump thinking (or at least saying) he won. Trump pumped his fist as he boarded Air Force One to depart the meeting and channeled an adjusted for inflation Nigel Tufnel, explaining that, “On the scale from zero to 10, with 10 being the best, I would say the meeting was a 12.” The moment reminded me of an old TikTok clip of a boxer who got hit so hard that he thought he won the fight. Don’t get me wrong, it’s not that Trump got nothing. It’s just that a lot of what he got, we already had. I’m no bean counter, but even an old Humanties major can do the math on this part of the agreement: “The Chinese promise to buy at least 25 million metric tons of soybeans annually for next three years will bring their purchases back in line with where they were at before President Donald Trump launched his trade war.” Soy vey...

+ “Mr. Xi also seemed to grasp what Mr. Trump needed, a deal that he could sell as a victory at home. The outcome allowed Mr. Trump to claim a win for American farmers and companies, even though China had largely restored the status quo by agreeing to buy soybeans and to hold off on further restricting the export of rare earths.” NYT (Gift Article): The Art of Letting Trump Claim a Win, While Walking Away Stronger.

+ “The agreement is likely to only stabilize relations between the two countries rather than resolve fundamental differences, with both sides buying time to further reduce dependence on each other in strategic areas.” Bloomberg (Gift Article): Trump-Xi Truce Buys Time in Broader Fight for Dominance and Leverage. (The 2025 news cycle might make it the first year in human history where having more time seems like a negative.)

+ Defcon Don: The meeting and its aftermath were somewhat overshadowed by a Trump social media post (that was riddled with misinformation) in which he stated that he has instructed the Pentagon to re-start nuclear testing. Tom Nichols in The Atlantic: Trump Is Very Confused About Nuclear Weapons. “Resuming nuclear testing is a terrible idea, not only because it would undermine America’s long-standing commitment to restraining a global arms race, but because detonating warheads to see if they actually work hasn’t been necessary in a very long time.” Was Trump trying to distract from his Xi meeting? Was he reacting to Putin’s claim to have tested a long range weapon? Was he just riffing? Whatever the motivation, the world’s most dangerous person is posting orders about the world’s most dangerous weapons in an era when there’s been zero indication that anyone in his administration or party plans to stand up to him about anything. It’s like a mushroom cloud on mushrooms.

2

Just: A Matter of Time

“The desperate desire of Attorney General Merrick Garland and President Joe Biden to avoid any appearance of partisanship led the department to put off looking into evidence of a potential crime and gave Mr. Trump an advantage that few appreciated at the time. Mr. Garland’s delays softened the ground and would eventually help Mr. Trump remake the Justice Department into his own cudgel.” The always excellent Carol Leonnig with a not so excellent reality check from inside the Justice Department. NYT (Gift Article): All It Took for Trump to Dismantle the Justice Dept. “The cumulative damage done to the once-respected Justice Department is so profound that it may not regain any semblance of its former self in our lifetimes, warn career law enforcement officials with whom we have spoken. It’s impossible to discount as hyperbole the alarm that these longtime civil servants are sounding from inside the house.”

3

Step White Up

“The low number represents a dramatic drop after the US previously allowed in hundreds of thousands of people fleeing war and persecution from around the world.” US will limit number of refugees to 7,500 and give priority to white South Africans.

4

Cuckoo for Cocoa Bluffs

“The edits were easy to miss: The description on the front of the Mr. Goodbar wrapper changed from ‘milk chocolate with peanuts’ to ‘chocolate candy with peanuts.’ Almond Joy is now marketed as a “coconut and almond chocolate candy bar.’ Rolos are now wrapped in ‘rich chocolate candy’ instead of ‘milk chocolate.’” What’s Missing From Your Favorite Chocolate Bar? It May Be Chocolate. “As a reporter who covers the climate, I’d read about global warming contributing to drought in West Africa and sending cocoa prices through the roof, and I knew candy companies had raised prices and shrunk portions. But could it be that they were also tinkering with the makeup of the candy itself? Yes, it turns out.” (Everyone is choc full of it these days...)

5

Extra, Extra

Ask for Da Moon: “Changpeng Zhao, crypto’s richest man, flew home from a California jail a year ago to recuperate in a secluded neighborhood of $30 million villas on a white-sand island here. He worked on his kite-surfing, caught up with friends in beachside clubs and kept his 100-foot yacht, Da Moon, moored nearby.” It was there that he plotted a comeback for his company (that would require a presidential pardon). And it worked. And it serves as an example for how things are done in today’s America. WSJ (Gift Article): How a Billionaire Felon Boosted Trump’s Crypto Company en Route to a Pardon.

+ Sick Joke: “A number of viral infections, including flu, Covid-19 and shingles, are linked to an increased risk of heart disease and stroke, a new study affirmed.” Covid and Flu Can Triple Your Risk of Heart Attack. (If only humanity had come up with an effective method to reduce the chances of you getting those infections...)

+ Operation Desert Norm: “The Pentagon has ordered thousands of specialized National Guard personnel to complete civil unrest mission training over the next several months, an indication that the Trump administration’s effort to send uniformed military forces into urban centers - once reserved for extraordinary emergencies - could become the norm.”

+ The Other Chips Business: Chipotle just had a really bad quarter. The reasons why might tell us about more than the just the fake burrito business. Gen Z and millennials burdened by student debt and unemployment stay away.

+ All Your Base Are Belong to Us: “It is an ominous marker of the nation’s polarization, to which the Trump administration has itself contributed, that some of those top public servants have felt a need to separate themselves from the public. These civilian officials can now depend on the U.S. military to augment their personal security.” Top Trump Officials Are Moving Onto Military Bases.

+ Single A for Effort: The 2025 World Series continues to feature some unthinkable performances. Consider Toronto’s Game 5 pitcher Trey Yesavage. He started the year playing in the lowest level of the minors and his salary is so low (he made about 60K this season) that he will see a meaningful upside from his playoff bonus. And he completely dominated one of the best lineups ever assembled. “This playoff paycheck is going to be nice.”

6

Bottom of the News

“When someone asks if you’re a good parallel parker, there should be no hesitation, because you already know. You’re either a Parallel Parking Wu-Tang Master, sliding into that spot with silent swagger, or you’re a member of the Curb Kisser Club, whispering a prayer and hoping no one’s watching. There’s no in-between, just legends and white-knucklers.” Car and Driver: Yes, There’s a Parallel Parking Championship, and I Was a Contender.