Newsletter May 20, 2021

The U.S. and Russia took the first step in fixing their troubled relationship, and the meeting only served as a reminder of how far they still have to go.

3 Things

Russian (ad)dressing: Where does one start in trying to untangle the messy web of diplomatic relations between the U.S. and Russia? As daunting and tiresome as the task may be, one knot at a time.
Cyberattacks, election meddling, border disputes and a general mistrust that spans the four corners of the globe are among the many sticking points as the two try to sort out their many differences.
Foreign diplomats from both countries broke the ice in Iceland on Wednesday, agreeing to disagree on some key issues while offering a few olive branches. The U.S. announced it will not sanction the Nord Stream 2 gas pipeline project between Russia and Germany.
But U.S. Secretary of State Antony Blinken made it clear to the his counterparts not to get it twisted: "But if Russia acts aggressively against us, our partners, our allies, we will respond," he cautioned.
Not exactly what one would consider sweet talk but relations between the two rival superpowers have never been wonderful. Wednesday's preliminary talks were merely an opening act of the main event -- a scheduled meeting next month between Biden and Russian President Vladimir Putin, whom Biden has called a "killer."
That will make for an interesting conversation starter when they meet face to face next month. Let's just hope the talks lead somewhere.
FIND OUT THE ISSUES THE TWO SIDES SEEK TO RESOLVE

Hold your fire: President Joe Biden took a tougher tone with Israel on Wednesday, calling for a "significant de-escalation" before today's proposed ceasefire negotiations. It's the strongest words the Biden administration has used with Israel since violence erupted last week.
Israel still isn't sold, continuing its campaigns in the Gaza Strip and other disputed areas into the night. Israeli Prime Minister Benjamin Netanyahu made it clear he was going to continue to respond to Palestinian attacks while waiting for "the right time" for a ceasefire.
"You can either conquer them, and that's always an open possibility, or you can deter them, and we are engaged right now in forceful deterrence," he said. "But I have to say we don't rule out anything."
Israeli airstrikes have taken down buildings in densely populated areas as civilian casualties and retaliatory hostilities continue to mount. Allies like France and Germany are attempting to broker a halt to the violence, and the U.S. is finally ready to join the table.
SEE THE CONDITIONS OF A CEASEFIRE THE U.S. IS BACKING

He said what?: It's no secret that there's no love lost between former presidents Barack Obama and Donald Trump. We just didn't know how deep the hostilities ran between the two ... until now.
A new book claims Obama had some choice words for Trump (and by choice we mean most would get bleeped on primetime TV) while watching his successor try to dismantle all his accomplishments.
While remaining largely silent in public per the presidential custom, Obama was dishing out scathing criticism of Trump behind closed doors to donors and political advisors, according to "Battle for the Soul: Inside the Democrats' Campaigns to Defeat Donald Trump".
Obama reportedly used terms like â€œcorrupt motherf---er,â€ â€œmadmanâ€ and â€œracist, sexist pigâ€ -- and those were some of the nicer ones. Of course, it's hard to blame anyone for getting angry for Trump's many shots directed at Obama, including challenging his U.S. citizenship.
SEE HOW THE BOOK SAYS OBAMA FEELS ABOUT TRUMP

Markets

DJIA	33,896.04	-0.48%
S&P 500	4,115.68	-0.29%
Nasdaq Composite	13,299.74	-0.03%
Japan: Nikkei 225	28,033.11	-0.04%
UK: FTSE 100	6,950.20	-1.19%
Crude Oil Futures	63.49	0.21%
Gold Futures	1,874.50	-0.37%
Yen	109.17	-0.05%
Euro	1.22	0.04%
* As of market close

Vax, masks facts

They say "Never say never." While they're at it, they could probably add "Never say forever" to the mix. That's because all good things must come to an end, even the trusted COVID-19 vaccine.

Dr. Anthony Fauci spoke to the American public Wednesday to clarify some recent confusion and misinformation about the state of the pandemic. Among his words of wisdom was the revelation that the COVID vaccine, as effective as it is, does not last a lifetime.

"I think we will almost certainly require a booster sometime within a year or so, after getting the primary [shot],â€ he said. â€œThe durability of protection against coronaviruses is generally not lifelong."

Fauci also tried to clarify the confusion over the CDC's new policy that says vaccinated Americans can put away their masks. It seems many unvaccinated Americans have misinterpreted the new face mask policy, going without a facemask and risking another surge.

"The CDC said, 'If you are vaccinated, you can feel safe â€” that you will not get infected either outdoors or indoors'," he said. "It did not explicitly say that unvaccinated people should abandon their masks."

FIND OUT WHAT OTHER QUESTIONS FAUCI STRAIGHTENED OUT

Cryptic crash

Cryptocurrency investors were laughing all the way to the virtual bank over the past few months amid skyrocketing gains. On Wednesday that laughter sounded more like whimpering as cryptocurrency took its lumps.

Suffering from a 1-2 punch delivered by China and Tesla CEO Elon Musk, bitcoin suffered a 30% single-day drop before rallying later in the day. Bitcoin fell to almost $30,000 -- less than half the record level it reached last month -- before recovering to around $39,587 on Wednesday night.

The freefall came after a pair of big announcements regarding the future of cryptocurrency. China announced that digital currency could not be used in normal markets, and Musk reversed course on Tesla's decision to accept bitcoin as payment, citing the environmental impact of mining.

The downturn also had negative effects on crypto-related stocks, like Coinbase and Tesla. It seems the only predictable thing about crypto is its unpredictability, which is why investors can expect more volatility until a mainstream monetary system accepts cryptocurrency in the open market.

SEE THE IMPACT THE CRYPTO COLLAPSE ON OTHER MARKETS

Ch'King cha-ching

You know the chicken sandwich wars have gotten out of hand when the burger joints start getting their feathers ruffled. Why else would a place called "Burger King" declare poultry supremacy with its new Ch'King?

That's right, the chicken trend has come home to roost at the Home of the Whopper, which claims it has spent two years perfecting its crossover item. That's about the time Popeye's and Chick-fil-a were engaging in a battle for American taste buds and triggering an escalating culinary war.

Joining the chicken challenge alongside KFC, McDonald's and other fast-food eateries, Burger King has upped the ante with a special introductory offer. Customers who purchase the new Ch'King using the mobile app or online will receive a free Whopper because, you know, it is a burger place. We'll try one, but there's something to be said for doing what you do best.

FIND OUT HOW YOU CAN GET A BEEF AND BIRD COMBO FROM BK