16 January 2024

Daily Newsletter

Biden Campaign Raises $97M in Q4 of 2023

The Facts

  • Pres. Joe Biden’s re-election campaign raised over $97M in the fourth quarter of 2023 and had $117M in cash heading into 2024, which it claimed was a record for a Democratic presidential candidate.

  • In its announcement on Monday, the president’s campaign said it had entered last year’s final quarter with $91M in the vault, fueled by $71M raised in the third quarter.


The Spin

Democratic narrative

Despite all the naysayers, Pres. Biden continues to show that he is a political force. The fact that more than 520K voters made over 900K donations to his fundraising haul, and that his campaign raised nearly $100M in just three months, shows the Democratic presidential candidate’s support among a plethora of Americans. Meanwhile, Trump has significantly less money and is wasting resources on legal battles and primary fights. All of this bodes well for Biden's 2024 chances.

Republican narrative

All of the money in the world can’t shield Pres. Biden from the effects of his immense unpopularity. Hollywood elites may be rallying around the incumbent president and his failed policies, but a vast majority of Americans are fed up with record inflation and the surging migrant crisis. While the Biden campaign may claim it has created a fundraising record, it fails to acknowledge how much less that money is worth, thanks to inflation. Voters, not donors, will determine the 2024 election.

Nerd narrative

There’s a 49% chance that Joe Biden will be elected US President in 2024, according to the Metaculus prediction community.

See sources

Iran Claims to Strike Israeli Spy Base In Iraq

The Facts

  • On Monday, Iran struck what it claimed to be a base for Israel's intelligence agency, Mossad, along with other locations allegedly hosting Iranian opposition groups, in Erbil — the capital of the semi-autonomous Kurdistan region in northern Iraq. Baghdad recalled its ambassador to Tehran in response on Tuesday.

  • Four civilians were killed and six injured, according to the Kurdish regional government, as the ballistic missile struck what Iran called Israel's “spy headquarters” for the region, located near the US Consulate.


The Spin

Anti-Iran narrative

Iran is stirring up more trouble in an already explosive region. A more unstable Iraq is the last thing the Middle East needs at this point, making the strikes on Erbil an utterly reckless act. Tehran must respect the sovereignty of Iraq and allow peace to return to the region.

Pro-Iran narrative

Contrary to claims from the West, Iran isn't the one inflaming tensions in the region. Monday's strikes — which abided by international laws — are a direct response to terrorist actions committed against Iran, which not only has a right but a duty to defend its civilians.

Nerd narrative

There is a 16% chance that a state-based conflict between Israel and Iran will cause at least 1K deaths before 2025, according to the Metaculus forecasting community.

See sources

Nauru Cuts Taiwan Ties, Aligns With Beijing

The Facts

  • Nauru, a Pacific Island nation in Micronesia, cut diplomatic ties with Taiwan on Monday and aligned with Beijing only days after Taiwan's presidential election. According to some observers, the move was not a surprise.

  • Nauru stated it was reestablishing diplomatic ties with China, moving away from Taiwan, and no longer considering Taiwan "as a separate country" but "rather as an inalienable part of China's territory." Taiwan's Deputy Minister of Foreign Affairs, Tien Chung-kwang, accused Beijing of influencing Nauru and demanded the immediate closing of Nauru's embassy in Taiwan.


The Spin

Anti-China narrative

Simply put, Beijing offered a better deal than Taipei and bought off the financially strained South Pacific nation to shift diplomatic sides once again. The move was a calculated attempt to undermine Taiwan's independence and democracy and diplomatically isolate the island. At the end of the day, Taiwan will appear stronger because Beijing's cynical attempts to lure Taiwan's diplomatic allies to its side will be perceived as bullying.

Pro-China narrative

Only a few nations have diplomatic relations with Taiwan. Most countries, including the US, support the One-China Policy rather than recognizing Taiwan as an independent state. With Nauru removed from the list, Taiwan's diplomatic friends are decreasing. Given the PRC's position in the world, any sovereign state should seek improved relations with Beijing rather than caving to US-led hegemony.

Nerd narrative

There is a 4% chance China will recognize the sovereignty of Taiwan by 2050, according to the Metaculus prediction community.

See sources

Ramaswamy Drops Out of GOP Race, Endorses Trump

The Facts

  • Entrepreneur Vivek Ramaswamy on Monday ended his bid for the 2024 Republican presidential nomination after a disappointing showing at the Iowa caucuses. Announcing the suspension of his campaign, Ramaswamy said he saw "no path" to the nomination.

  • Ramswamy's announcement came after former Pres. Donald Trump cemented his place as the GOP frontrunner by securing 20 of the 40 delegates. Ramaswamy came in fourth after Florida Gov. Ron DeSantis and Nikki Haley, formerly the US ambassador to the UN.


The Spin

Republican narrative

Ramaswamy made a valiant effort, as he started his campaign with little name recognition and outlasted several better-known candidates. He put up a fight in visits to every Iowa county, and brought some important issues to the forefront of the race while building his campaign on truth-telling. By leaving the race and endorsing Trump, he's continuing to do what's best for the Republican Party's future unity and electoral chances.

Democratic narrative

Ramaswamy never really ran against Trump as much as he ran alongside him, seemingly auditioning for a cabinet position along the way. This campaign accomplished two things it made Ramaswamy famous, and it proved that the Republican electorate has a hunger for Trump to shift his terrifying policies even further to the right.

Nerd narrative

There's a 94% chance that Trump will be the Republican nominee for the 2024 US presidential election, according to the Metaculus prediction community.

See sources

Trump Sees Record Win in Iowa Caucus

The Facts

  • Former US Pres. Donald Trump has won the Republican Party's 2024 Iowa caucus, receiving over 56K votes (51.0%), compared to Florida Gov. Ron DeSantis' approximate 23K votes (21.2%) and former UN ambassador Nikki Haley's more than 21K votes (19.1%).

  • Vivek Ramaswamy received over 8K votes (7.7%), compared to Ryan Binkley's 774 votes (0.7%), Asa Hutchinson's 191 votes (0.2%), and Chris Christie's 35 votes (less than 0.1%).


The Spin

Pro-Trump narrative

While the first half of 2023 suggested a tight race in Iowa, an exceptionally strong campaign by Trump and his team has resulted in a historic and record-breaking result for the state. As the DeSantis and Haley campaigns continue to flounder, the former president has stayed away from the GOP's string of pointless debates while maintaining a strong and simple message. Trump has dodged every possible Democrat bullet and continues to gather momentum as he eyes a return to the White House.

Anti-Trump narrative

Despite being a state known for its religious affiliations, it is the cult of Trumpism that dangerously threatens US democracy following Iowa's caucus results. As history has shown, however, this outcome — while undoubtedly a victory for Trump — doesn't mean he'll secure the presidential nomination. Faced with a trove of criminal charges and stiff competition from Haley in New Hampshire's primary, the US hasn't yet fallen for Trump's brand of authoritarianism.

Nerd narrative

There is a 94% chance that Donald Trump will be the Republican nominee for the 2024 US presidential election, according to the Metaculus prediction community.

See sources

Zelenskyy Visits World Economic Forum to Garner Support

The Facts

  • Speaking at the World Economic Forum conference in Davos, Switzerland, on Tuesday, Ukrainian Pres. Volodymyr Zelenskyy claimed his Russian counterpart, Vladimir Putin, "embodies war." He also claimed to have received "positive signals" from the EU regarding financial support, adding that he hopes the US will also pledge further assistance in the coming weeks.

  • Zelenskyy also held a "CEOs for Ukraine meeting," where he announced his country's GDP exceeded 5% last year, touted Kyiv's defense of the Black Sea, and increased grain production. The meeting included European Commission Pres. Ursula von der Leyen, NATO Secretary General Jens Stoltenberg, and US Special Representative for Ukraine's Economic Recovery Penny Pritzker, among others.


The Spin

Anti-Russia narrative

The Davos consensus on Ukraine should be the world's consensus — Kyiv is absolutely capable of deterring and defeating Moscow so long as its Western allies continue their financial support. This can't just be verbal or metaphorical support either, but rather concrete and predictable finance and weapons distribution to the frontlines until Putin finally concedes his inevitable defeat.

Pro-Russia narrative

Russian officials didn't have to attend the Davos summit to understand the absurdity of its intentions. Dozens of national security advisors flew to Switzerland to hear Zelenskyy call for a complete withdrawal of Russian troops and subsequent trials for war crimes — propositions even the most pro-Ukraine countries know are not going to happen. What will happen is Ukraine will continue to lose on the battlefield as its allies in the West grow more weary of supporting this war.

Nerd narrative

There is a 26% chance that Russia will have significantly expanded its controlled territory in Ukraine on January 1, 2026, according to the Metaculus prediction community.

See sources

Blinken: Arab Nations Cautious on Rebuilding Gaza if 'Leveled' Again

The Facts

  • US Sec. of State Antony Blinken said on Tuesday that Arab nations aren't keen to finance rebuilding Gaza after the war if it will be "leveled" again in a few years, stressing the importance of establishing a Palestinian state in any regional settlement. He emphasized that Israel's security depended on normalization with Arab states and resolving the conflict with the Palestinians. Saudi Arabia's foreign minister said the kingdom could recognize Israel as part of a comprehensive agreement that included a Palestinian state.

  • US National Security Advisor Jake Sullivan, also present at Davos, said that Hamas' Oct. 7 attack hadn't fundamentally changed the Biden admin’s approach to the Middle East. He claimed that the goal of the attack was to derail normalization talks between Israel and Arab states — namely Saudi Arabia. He said that the war in Gaza was "on a path of escalation" and the US seeks de-escalation and diplomacy.


The Spin

Pro-establishment narrative

The US is doing everything it can to both ensure that Israel can eliminate Hamas's military capabilities and prevent regional escalation. Israel must be able to defend itself from terrorist attacks, whether from Gaza or elsewhere and is taking the right steps to wind down its military operations in Gaza, as it is not in the US or Israel's best interest to see the conflict escalate. Nevertheless, the US is prepared to defend its allies in the region and deter threats to regional and global security.

Pro-Israel narrative

Though this has been a tragic war, Israel must eliminate Hamas and restore deterrence with Iran and its proxy Hezbollah. Hezbollah is a terrorist army with far greater military capabilities than Hamas, and Israel cannot allow its citizens residing in the north to live under the constant threat of terrorist attacks. The UN resolution that ended the 2006 war with Hezbollah has failed to ensure Israel's security, and if some sort of new arrangement is not made, Israel will be forced to intervene. Likewise, in Gaza, Hamas's military capabilities must be eliminated to ensure Israel's security.

Pro-Palestine narrative

Israel continues to demonstrate that its war is not against Hamas or Hezbollah but against the Palestinian and Lebanese people as a whole. Nowhere in Gaza is safe, and Israel has effectively rendered the north of the strip unlivable. Israel is killing Palestinians at an unprecedented rate and clearly wants to make the Gaza Strip unlivable. Though the US, Israel's biggest ally, wants to minimize the war's intensity, it must instead exert more pressure to end the war completely.

Nerd narrative

There's a 64% chance that Israel will have de facto power in the Gaza Strip on Jan. 1, 2025, according to the Metaculus prediction community.

See sources

WHO: Global Tobacco Use Declining

The Facts

  • A report released Tuesday by the World Health Organization (WHO) shows global tobacco use is dropping, as one in five adults reported using tobacco in 2022 — down from one in three in 2000.

  • In a statement, the Director of the WHO Department of Health Promotion said that it's important to avoid complacency in the face of the progress of curtailing tobacco use, as well as what he deemed efforts by the tobacco industry to "pursue profits at the expense of countless lives."


The Spin

Narrative A

This is great news for the health of the world, and it's obvious that countries that have implemented some of the suggestions from the WHO to counter Big Tobacco are getting results. It's time to start regulating e-cigarettes the same as regular tobacco products, and maybe even go as far as to put warning labels on individual products. Health authorities worldwide are winning this battle, but they must not relent.

Narrative B

Although the tobacco industry is pushing against WHO recommendations for reducing global tobacco use, the WHO must also consider other factors that may slow progress. People in countries where there's great trauma and/or countries involved in violent conflict might find their populations turning to tobacco for relief. The WHO will need to do more to offer alternatives and financial support to some nations and also consider unique cultural circumstances.

Nerd narrative

There's a 50% chance that a country will implement a total civilian ban on the consumption and smoking of tobacco by June 2033, according to the Metaculus prediction community.

See sources

Study: More Siblings Linked to Worse Mental Health for Teens

The Facts

  • A study released in the Journal of Family Issues reports that its findings suggest teenagers with more siblings have slightly worse mental health compared to adolescents who had one or zero siblings.

  • Douglas Downey of Ohio State University and his colleagues studied 9.4K eighth-grade students from China and 9.1K Americans of the same age to examine the relationship between the number of siblings and mental health.


The Spin

Narrative A

There are many reasons that people across developed countries are having fewer children, and this inevitable decline in birth rates brings some positive effects, as this study shows. In addition to the health and economic benefits of smaller families, having fewer children can help the world in its fight against climate change. The fact is that people are starting families much later than they did in the past, and the focus should be on the health and happiness of families, not on their size.

Narrative B

People across the Western world, particularly in the US, have been misled into believing that having fewer children is a positive development. However, considerable research shows that large and robust families are most conducive to mental and physical health. Low birthrates present an existential crisis, and society must prioritize creating the next generation of happy and healthy children.

Nerd narrative

There is a 50% chance that China’s total fertility rate will be at least 1.1 in 2031, according to the Metaculus prediction community.

See sources

Musk Asks for More Tesla Shares to Grow Company's AI

The Facts

  • Tesla founder Elon Musk on Monday said that he would need a larger stake in the electric vehicle company to feel comfortable growing the business “to be a leader in AI and robotics,” noting that he seeks 25% voting control of Tesla.

  • The Tesla and SpaceX CEO voiced his request on his social media network X, formerly Twitter, which he bought in 2022 after selling tens of billions of dollars of his Tesla shares. Musk currently owns 13% of Tesla — roughly 411M out of the company’s 3.19B outstanding shares.


The Spin

Narrative A

Elon Musk is holding his own company hostage in order to get his way. Investors have always been wary of Musk’s volatile public persona and brash public statements, and his public demand for 25% control of Tesla does nothing to assuage concerns about the Tesla founder. While Tesla has been successful, it has experienced its worst performance since going public, and Musk is overplaying his hand and harming himself and his company.

Narrative B

Elon Musk is making a very reasonable request in seeking 25% control of the electric vehicle company he founded. Musk is the brains powering Tesla, and he has many plans that can help the company venture into emerging spheres, such as AI. Musk has the leverage, and he should not give Tesla exclusive access to his outside work without fair compensation.

Nerd narrative

There is a 50% chance that Tesla’s market capitalization will be at least $1.58T on Jan. 1, 2030, according to the Metaculus prediction community.

See sources

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