Nova Newsletter
January 23, 2025
☕ Good morning. 2, 280 words for you today - 10 minute read.
The Spotlight
1. ICE Detains 5-year-old Minnesota Student in Driveway
Liam Ramos, five, detained by ICE in Columbia Heights, Minnesota, outside of his home on Tuesday. Photograph: Courtesy of Columbia Heights Public Schools
Federal agents on Tuesday apprehended Liam Ramos and his father at their home, transporting them to a Texas detention center amid an enforcement surge in the Minneapolis area.
Takeaways
Columbia Heights school officials allege agents used the local preschooler as "bait" by directing him to knock on his front door to locate other family members.
The family’s attorney claims they have an active asylum case and entered the country legally through an official port of entry.
The Department of Homeland Security disputes the account, alleging the father abandoned the child while fleeing before being apprehended.
The district reported that Liam is the fourth student detained in the last two weeks, including a 10-year-old girl taken on her way to school. Superintendent Zena Stenvik described a climate of fear, alleging agents have been circling schools and following buses.
Federal officials maintain the operation was a targeted arrest of the father, whom they classified as an "illegal alien," rather than an action specifically targeting a minor.
The incident has sparked widespread trauma in the suburban community, where many families are now reportedly keeping children home from school. Read More
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2. Jobless Claims Rise Amid "Low Hire, Low Fire" Trend
U.S. applications for unemployment benefits inched up to 200,000 last week, signaling that while hiring has stalled, mass layoffs remain historically rare.
Takeaways
Weekly filings rose by 1,000, coming in lower than the 207,000 applications analysts had predicted.
The labor market is experiencing a "low hire, low fire" phase, with only 50,000 jobs added in December as firms retain current staff but freeze new roles.
Federal Reserve Chair Jerome Powell warned that the job market may be weaker than reported, with potential downward revisions suggesting net job losses since spring.
The cooling labor market is being pressured by the dual impact of Trump administration tariffs and the restrictive interest rates held over from the Fed’s inflation fight. While recent quarter-point rate cuts aimed to stabilize the economy, analysts expect the central bank to pause cuts at next week's meeting.
Major corporations including UPS, Amazon, and GM have recently announced targeted cuts, contributing to a sense of uncertainty for job seekers. Despite these headlines, the total number of Americans receiving aid fell to 1.85 million, the lowest level in weeks.
The primary concern for economists now is whether sluggish hiring will eventually tip the economy into a broader contraction.
The violence underscores persistent threats to villagers in conflict-hit regions of northern Nigeria. Read More
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3. Trump Launches "Board of Peace" at Davos Amid Ally Skepticism
President Donald Trump holds the charter during a signing ceremony on his Board of Peace initiative at the Annual Meeting of the World Economic Forum in Davos, Switzerland, Thursday, Jan. 22, 2026. (AP Photo/Markus Schreiber)
President Trump inaugurated his Board of Peace Thursday at the World Economic Forum, pitching a new global body to oversee the Gaza ceasefire and broader international conflicts.
Takeaways
Trump described the board as a potential successor to the UN, claiming it would be a "nimble and effective" tool for resolving elusive global disputes.
While Trump claimed 59 nations are involved, many key U.S. allies including the U.K., France, Germany, and Norway declined to join, citing concerns over UN displacement.
Founding executive members include Jared Kushner, Secretary of State Marco Rubio, and former British PM Tony Blair, who will oversee post-war Gaza reconstruction.
The initiative requires permanent members to contribute $1 billion, a funding model that has further alienated traditional Western partners. Participating nations currently include Israel, Saudi Arabia, the UAE, and Argentina, while Russia remains uncommitted despite an invitation.
During the Davos ceremony, Trump pivoted from recent Greenland annexation threats to focus on the board's mandate to demilitarize Hamas and rebuild Gaza into a "destination." He emphasized that the body will initially focus on the Middle East before expanding to conflicts like the war in Ukraine.
Critics have labeled the board a "vanity project" that grants Chairman Trump life-long authority to issue global resolutions without traditional diplomatic oversight. Read More
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Last Time the Market Was This Expensive, Investors Waited 14 Years to Break Even
In 1999, the S&P 500 peaked. Then it took 14 years to gradually recover by 2013.
Today? Goldman Sachs sounds crazy forecasting 3% returns for 2024 to 2034.
But we’re currently seeing the highest price for the S&P 500 compared to earnings since the dot-com boom.
So, maybe that’s why they’re not alone; Vanguard projects about 5%.
In fact, now just about everything seems priced near all time highs. Equities, gold, crypto, etc.
But billionaires have long diversified a slice of their portfolios with one asset class that is poised to rebound.
It’s post war and contemporary art.
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My subscribers can skip the waitlist.
*Investing involves risk. Past performance is not indicative of future returns. Important Reg A disclosures: masterworks.com/cd.
Quick Headlines
Joseph Bongiovanni, left, leaves federal court with his wife, Lindsay Bongiovanni, after being sentenced to 5 years in prison on corruption charges, Wednesday, Jan. 21, 2026, in Buffalo, N.Y.
U.S. District Judge Lawrence Vilardo sentenced Joseph Bongiovanni to five years in prison Wednesday for using his badge to protect childhood friends in a Buffalo drug trafficking ring. The 61-year-old was convicted of obstruction and conspiracy after an 11-year scheme that shielded organized crime figures, though he received a lighter term than the 15 years sought by prosecutors. Read More
Representative Pete Stauber led House Republicans in a 214–208 vote Wednesday to overturn a 20-year moratorium on mining near Minnesota’s Boundary Waters Canoe Area. The resolution, which now moves to the Senate, aims to clear the path for a Chilean-owned copper-nickel project in the Superior National Forest by invoking the Congressional Review Act to nullify a 2023 Biden-era protection. Read More
An autopsy released Wednesday confirmed Geraldo Lunas Campos died of asphyxia on Jan. 3 after being restrained by guards at the Camp East Montana detention facility. The 55-year-old Cuban immigrant suffered neck and torso compression during a struggle that witness reports suggest involved five guards, contradicting initial government claims of an attempted suicide. Read More
Brooklyn Federal Judge LaShann DeArcy Hall sentenced gambler Timothy McCormack to two years in prison Wednesday for his role in a fraud conspiracy involving former NBA players. McCormack, the first to be sentenced in the case, used non-public information from players like Jontay Porter to place illicit wagers, though the judge granted a sentence below the four-year request due to his gambling addiction. Read More
The World Food Program announced Thursday it will slash emergency aid in northeast Nigeria from 1.3 million people to just 72,000 starting in February. A record 35 million Nigerians face severe hunger this year following a collapse in global aid budgets and the closure of USAID, threatening 15,000 people in Borno State with imminent catastrophic starvation. Read More
Acting Supreme Court Justice Jeffrey Pearlman ruled Wednesday that New York's 11th Congressional District unconstitutionally dilutes Black and Latino voting power on Staten Island. The decision requires the state’s Independent Redistricting Commission to submit a new map by Feb. 6, potentially shifting Republican Rep. Nicole Malliotakis’ seat toward a Democratic advantage ahead of the 2026 midterms. Read More
Deep Dive
4. Greenland Sets "Red Lines" as Trump Claims Permanent Island Access
Mark Rutte, Nato’s secretary general, and Donald Trump at Davos on Wednesday. Photograph: Evan Vucci/AP
Greenlandic and Danish leaders are rejecting Donald Trump's claims of a breakthrough deal for "total access" to the Arctic island, insisting that territorial sovereignty is non-negotiable.
Takeaways
Sovereignty Standoff: Prime Minister Jens-Frederik Nielsen asserted that only Greenland and Denmark have the mandate to make deals, calling sovereignty a "red line" that cannot be crossed.
The "Framework" Mystery: While Trump touts a permanent access deal struck with NATO's Mark Rutte in Davos, the specific terms remain unconfirmed by European officials.
Tariff De-escalation: Trump has shelved threats of a 10% tariff on eight European nations, easing the immediate risk of a massive transatlantic trade war.
Security Pivot: The "Golden Dome" missile defense system and curbing Chinese and Russian Arctic influence have emerged as the primary justifications for the U.S. push.
The confrontation follows a chaotic week at the World Economic Forum, where Trump shifted from threatening "hard way" acquisition to hailing a future framework for "unrestricted access." On Thursday, Trump told reporters the U.S. had secured access with "no end, no time limit," a claim that blindsided officials in Nuuk and Copenhagen. Prime Minister Nielsen responded by stating he remains "in the dark" on the details but will never negotiate away the island's home rule.
Danish Prime Minister Mette Frederiksen echoed this defiance, noting that while security and investments are open for discussion, territorial integrity is not. The existing 1951 defense treaty already allows a significant U.S. military presence at Pituffik Space Base, but Trump’s rhetoric suggests a desire for broader, permanent control of the island's land and mineral resources.
NATO Secretary General Mark Rutte has attempted to act as a bridge, framing the talks as a way to bolster Arctic defense against growing threats from Russia and China. "Senior commanders will work out what is necessary," Rutte said, hoping for a finalized security arrangement early in 2026. However, the disconnect between Washington’s "total access" narrative and Europe's "sovereignty first" stance suggests the crisis is far from over.
The standoff highlights a fundamental rupture in the transatlantic alliance, as European leaders weigh the price of security against what some have termed "new colonialism." Read More
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On Our Radar
5. Record-breaking 16 Oscar nominations for Ryan Coogler’s Sinners
Oscar contenders ready … clockwise from top left: Sinners, One Battle After Another, Hamnet and Marty Supreme. Composite: Warner Bros/ Focus Features/ A24
Ryan Coogler’s supernatural thriller Sinners made Academy history Monday, becoming the first film to ever receive 16 Oscar nominations.
Takeaways
Sinners shattered the previous record of 14 nominations held by All About Eve, Titanic, and La La Land.
The film’s $368 million global success translated into nods for Best Picture, Director, and the Academy's inaugural Best Casting prize.
Historical milestones include Ruth E. Carter becoming the most-nominated Black woman in Oscar history (5 nods) and Autumn Durald Arkapaw becoming only the fourth woman ever nominated for Cinematography.
The film stars Michael B. Jordan as twins in 1930s Mississippi fighting both Jim Crow racism and vampires. While it leads the pack numerically, experts suggest Paul Thomas Anderson’s One Battle After Another (13 nominations) may be the frontrunner for Best Picture after dominating earlier awards.
The nominations also highlighted a surge in internationalism. Subtitled films like Sentimental Value and The Secret Agent earned multiple mentions, with Brazil’s Wagner Moura becoming the first Brazilian ever nominated for Best Actor.
Despite the "Sinners" sweep, several high-profile stars were snubbed, including Paul Mescal (Hamnet), George Clooney (Jay Kelly), and Ariana Grande (Wicked: For Good). The 98th Academy Awards, hosted by Conan O'Brien, will air on March 15. Read More
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6. Alex Honnold to free solo Taipei 101 live on Netflix
Professional climber Alex Honnold will attempt to scale the 1,667-foot Taipei 101 skyscraper without ropes this Friday, in a first-of-its-kind live global broadcast.
Takeaways
The event, titled "Skyscraper Live," will stream on Netflix at 8 p.m. ET Friday (9 a.m. Saturday in Taiwan) with a 10-second safety delay.
Honnold will be the first to "free solo" the building, navigating eight-story "bamboo box" segments that feature steep, overhanging glass and steel.
Ethical concerns have surfaced regarding the high-risk nature of the live broadcast, especially as Honnold is now a married father of two young daughters.
The climb marks Honnold's most ambitious urban project since his Oscar-winning ascent of El Capitan. Unlike traditional rock faces, the skyscraper offers rest balconies every eight floors, which Honnold describes as a "sweet spot" for technical engagement.
Production teams from Plimsoll Productions have positioned camera operators on ropes and inside the building to monitor the ascent. A "back-off clause" is in place, allowing Honnold to bail into various hatches if weather conditions like light rain or high winds make the glass too slick.
While fans view the feat as a "meditative art form," critics worry about the normalization of "roof-topping" and the psychological impact on viewers if a tragedy occurs in real time. Read More
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8. 🎉 This day in history
Elizabeth Blackwell First Woman Earns US Medical Degree
On This Day – September 29
Elizabeth Blackwell Becomes First Woman Doctor in the U.S., 1849 – Elizabeth Blackwell graduates from Geneva Medical College in New York, becoming the first woman in the United States to earn a medical degree.
Provident Hospital Founded as First Non Segregated U.S. Hospital, 1889 – Dr. Daniel Hale Williams establishes Provident Hospital in Chicago, creating the first hospital in the United States open to patients and medical staff regardless of race.
Nixon Announces Agreement to End the Vietnam War, 1973 – U.S. President Richard Nixon announces that an accord has been reached to end American involvement in the Vietnam War. The agreement leads to a ceasefire and the withdrawal of U.S. troops, marking a major turning point in one of the most controversial conflicts in American history.
9. Poll
Life Hack of the day
🥬💚Wrap celery in Aluminum Foil
Want your celery to stay crisp longer? Wrap it tightly in aluminum foil before storing it in the fridge. The foil allows ethylene gas to escape while locking in moisture, helping celery stay crunchy for weeks. It’s a simple storage trick that really works.
That’s your morning brief. Now go show someone how smart you are. 🧠
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