Nova Newsletter
January 15, 2025
☕ Good morning. 1,687 words for you today - 8 minute read.
The Spotlight
1. U.S. Plane Disguised As Civilian In Venezuela Strike
US fighter jets stationed in Puerto Rico amid tensions with Venezuela. However, the aircraft used in the September strike was reportedly made to look like a civilian plane. Photograph: Eva Marie Uzcategui/Reuters
The U.S. military used an aircraft painted to resemble a civilian plane in a September drug boat strike off Venezuela, according to AP sources.
Takeaways
The aircraft was part of a covert U.S. surveillance fleet and carried munitions inside the fuselage, not externally.
Military law manuals prohibit disguising combat aircraft as civilian, a practice known as perfidy.
The strike was the first in a campaign that killed at least 115 people and escalated U.S. action against Venezuela.
Lawmakers are now weighing a war power vote to block further action without congressional approval.
The plane’s appearance was confirmed by two people familiar with the operation after initial reporting by The New York Times.
Pentagon officials said aircraft choices vary by mission, but critics argue the tactics may violate the laws of war.
The disclosure adds pressure as Congress reviews the legality of U.S. operations and President Trump’s broader Venezuela strategy. Read More
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2. Oglala Sioux Members Held by ICE After Minneapolis Arrests
The Oglala Sioux Tribe says three enrolled tribal members arrested in Minneapolis are now being held in ICE detention at Fort Snelling, prompting demands for their immediate release.
Takeaways
Tribal leaders say enrolled tribal citizens are not subject to immigration enforcement under U.S. law and treaty rights.
ICE allegedly withheld full identity details unless the tribe agreed to an immigration partnership.
One of four detained members was released; three remain in custody.
The case adds to growing reports of Native Americans mistakenly detained by ICE nationwide.
Tribal President Frank Star Comes Out said the men were arrested at a homeless encampment and are experiencing homelessness.
The tribe sent a formal memorandum to DHS Secretary Kristi Noem, rejecting any ICE agreement and demanding transparency.
Fort Snelling’s role has drawn criticism due to its historical harm to Indigenous communities.
The dispute underscores rising tensions between tribes and federal immigration enforcement. Read More
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3. Prosecutors Seek Death Penalty 8-minute Ex-President Yoon
(FILES) Extra edition newspapers are displayed at a subway gate in downtown Seoul on December 4, 2024, after martial law was lifted. Jung Yeon-je/AFP via Getty Images
South Korean prosecutors are seeking the death penalty for former President Yoon Suk Yeol, accusing him of leading an insurrection by attempting to impose martial law in December 2024.
Takeaways
Insurrection is one of the few crimes punishable by death under South Korean law.
Prosecutors argue Yoon posed a grave threat to the constitutional order.
South Korea has not executed anyone in nearly 30 years.
A final verdict is expected Feb. 19.
The request came during a 17-hour closing hearing, with prosecutors citing Yoon’s lack of remorse and continued defense of his actions. Legal experts say the push for capital punishment was widely expected, even if an execution is unlikely.
Lawmakers from the Democratic Party welcomed the move, while Yoon’s former conservative allies largely stayed silent. Past presidents convicted of insurrection later had death sentences commuted.
The case marks one of the most consequential trials in modern South Korean political history. 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.
Sounds crazy, but over 70,000 investors have followed suit since 2019—with Masterworks.
You can invest in shares of artworks featuring Banksy, Basquiat, Picasso, and more.
24 exits later, results speak for themselves: net annualized returns like 14.6%, 17.6%, and 17.8%.*
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
Mexican President Claudia Sheinbaum
Mexican President Claudia Sheinbaum told Donald Trump the U.S. military is not needed against cartels, citing sovereignty, while both countries agree to continue security cooperation amid falling homicides and fentanyl deaths. Read More
Former Navy petty officer Jinchao Wei was sentenced to 16 years in San Diego for selling 60 ship manuals and operational details of USS Essex to a Chinese intelligence officer, earning over $12,000. Read More
A 550-pound bear that recently lived under one Altadena, California home has been seen at two more residences, spending up to three days in a crawlspace before leaving; its current location is unknown. Read More
Luxury retailer Saks Global, owner of Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman, filed for bankruptcy while securing $1.75 billion in financing to restructure debt, keep stores open, and protect employees and suppliers. Read More
A construction crane fell onto a passenger train in Nakhon Ratchasima, Thailand, killing at least 32 and injuring 64 of the 195 onboard, as rescue teams worked to free passengers from derailed carriages Read More
Some staff at Al Udeid Air Base in Qatar were told to evacuate Wednesday amid rising tensions with Iran, following past missile attacks and ongoing regional unrest, though details on numbers or mandatory status remain unclear. Read More
Deep Dive
4. U.S. Experiences Net Negative Migration for First Time in Decades
More people left the United States than entered in 2025, according to a new Brookings Institution report, marking the first net outflow in at least 50 years.
Takeaways
Net migration estimated between –10,000 and –295,000 in 2025, reflecting both increased enforcement and reduced arrivals.
Policy impact: The Trump administration’s restrictive immigration measures, including border enforcement and limits on humanitarian parole, drove the decline.
Economic consequences: Fewer migrants are expected to slow labor force growth, consumer spending, and GDP, with monthly job growth potentially negative in 2026.
Discrepancies with official estimates: The Congressional Budget Office projected net migration of +400,000, highlighting differences in assumptions about deportations and voluntary departures.
Trend likely to continue: Brookings anticipates that restrictive policies and heightened enforcement will keep net migration low or negative in 2026.
The report emphasizes that while deportations attract headlines, the larger driver of net migration decline was a slowdown in new arrivals, particularly through refugee programs, humanitarian parole, and Southwest border entries.
Economists warn that a shrinking migrant inflow will have ripple effects on the economy, including tighter labor supply and lower consumer demand, just as the administration seeks to promote growth through other means.
Brookings contrasts this with the Biden administration’s surge in arrivals, when 2 to 3 million people entered the U.S. annually, highlighting the dramatic policy reversal under Trump.
Differences between Brookings and CBO estimates underscore the challenge of forecasting migration, with assumptions about voluntary departures and enforcement intensity shaping projections.
The shift signals a historic demographic turning point, showing how immigration enforcement can reshape population dynamics and economic growth. Read More
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On Our Radar
5. Timothy Busfield Surrenders Over Child Abuse Charges
Timothy Busfield
Actor Timothy Busfield turned himself in Tuesday in Albuquerque, New Mexico, to face child sex abuse charges tied to alleged incidents on a TV set he directed.
Takeaways
Busfield faces two felony counts of criminal sexual contact of a minor and one count of child abuse, according to police.
The alleged incidents occurred on the set of “The Cleaning Lady,” filmed in Albuquerque.
Busfield denies all allegations and says he voluntarily traveled to New Mexico to confront them.
NBC shelved an upcoming “Law & Order: SVU” episode featuring Busfield following his arrest.
Authorities say the alleged victim reported inappropriate touching beginning at age 7 and continuing at age 8.
Busfield’s attorney argues a Warner Bros. investigation failed to corroborate the claims, though police say the criminal probe continued independently.
Busfield was booked and is scheduled for a first court appearance Wednesday.
The case adds pressure on Hollywood productions over on-set safety and child protections. Read More
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6. Spain Reviews Sexual Assault Claims Against Julio Iglesias
Spanish prosecutors are reviewing allegations that singer Julio Iglesias sexually assaulted two former employees at his residences in the Dominican Republic and the Bahamas.
Takeaways
Prosecutors received formal allegations on Jan. 5, tied to recent media reports.
The alleged incidents occurred between January and October 2021.
Spain’s National Court can try cases involving Spanish citizens accused of crimes abroad.
Iglesias has not commented publicly on the allegations.
The inquiry follows a joint investigation published by elDiario.es and Univision Noticias, detailing claims of sexual and physical assault by two women who worked at Iglesias’ Caribbean properties.
The Madrid-based prosecutors’ office confirmed it is assessing whether the case falls under its jurisdiction. A lawyer listed as representing Iglesias did not respond to requests for comment.
At 82, Iglesias is one of the best-selling artists in music history and the father of singer Enrique Iglesias.
The case could test Spain’s reach in prosecuting alleged crimes committed overseas. Read More
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8. 🎉 This day in history
On This Day – January 15
Decimal Coinage Proposed, 1782 – Robert Morris, Superintendent of Finance, urges the U.S. Congress to adopt a decimal-based monetary system and establish a national mint, laying the groundwork for the modern American currency system.
Otis Steam Elevator Patent, 1861 – Elisha Otis patents a steam-powered elevator, a key innovation that makes multi-story buildings practical and transforms urban architecture and city skylines.
COVID-19 Death Toll Passes 2 Million, 2021 – The officially recorded global death toll from the COVID-19 pandemic surpasses two million, a grim milestone that experts say significantly undercounts the true number of lives lost worldwide.
9. Poll
Do you support the Trump administration’s stricter border and immigration enforcement measures?
Life Hack of the day
🍗🐓 Don't Wash Raw Chicken
Thinking of washing raw chicken? Don’t do it. Rinsing chicken can actually spread harmful bacteria like salmonella around your sink and kitchen. Instead, cook it thoroughly — the heat kills any bacteria safely. It’s a simple step that keeps your meals safe and your kitchen clean.
That’s your morning brief. Now go show someone how smart you are. 🧠
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