The World’s Worst Journalist. The Diet Drugs Bigger Than Denmark. Indefensible Europe. Koreans Are Disappearing – Plus More! #197
Grüezi! I’m Adrian Monck – welcome!
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1️⃣ Is This Man The World’s Worst Journalist?
Sadly, he has some tough competition.
Tucker Carlson is in Russia to record an interview with Vladimir Putin. Wall Street Journal reporter Evan Gershkovich is currently imprisoned there.
Is Tucker the worst journalist in the world? Sadly there’s competition.
Let me introduce George Ward Price, correspondent for Britain’s Daily Mail.
In 1937, Ward Price – a fascist enthusiast – wrote I Know These Dictators, a fawning account of Hitler and Mussolini.
He attacked leftist and “cosmopolitan” critics of these “great” leaders, whilst presenting them and their regimes in the most flattering terms.
To give you a flavour:
“The tolerant attitude of the average Briton ... towards Jews, Communists, and those deluded intellectuals indulgently termed ‘parlour-Bolshevists’ appears to Nazi eyes as stupid apathy in the presence of real danger.”
It would be nice to recount that Ward Price’s appalling reporting and worse book might have somehow tarnished his journalistic credentials. But the Daily Mail continued to publish him through WW2 and after.
So don’t expect Carlson’s craven behaviour to be met with divine moral punishment.
⏭ Evan Osnos has a fascinating ‘New Yorker’ story on Carlson and his like.
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2️⃣ The Diet Drugs That Are Bigger Than Denmark
It’s not all beer and bicycles anymore.
🚀💡 What happens when a company outgrows a country’s economy? No need to ponder – that’s what’s happened in Denmark.
Danish pharma company Novo Nordisk is creating a tsunami of economic growth there, thanks to groundbreaking obesity medications, Ozempic and Wegovy. 🌊
💵 With the global success of these drugs, especially in the US, Novo Nordisk’s success is influencing Denmark’s monetary policy, keeping interest rates low to manage the influx of foreign earnings.
It’s a delicate dance of currency and growth, showcasing the interconnectedness of global markets and local economies. 💱
🤔 Despite this phenomenal growth, the jobs boost within Denmark isn’t as pronounced, underscoring the complexities of modern economies where revenue doesn’t always equal job creation. 🌐
🎉 Still Novo Nordisk’s success is fattening Denmark’s public finances, contributing significantly to the nation’s tax revenue. 🏆
📊 Yet, there are risks from over-reliance on a single success story – today’s corporate hero could become tomorrow’s economic zero. 🧐
✨ Novo Nordisk’s story is more than just corporate success; it’s about the power of innovation, the challenges of growth, and the need for strategic economic diversification.
⏭ America’s bubble-shaped baby boomers will keep profits rolling in.
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3️⃣ Europe Can’t Defend Itself
The old continent is unprepared for conflict.
No one knows if Donald Trump will be America’s next president. But Europe knows one thing – its security is not Trump-proof. And Russia may sense it has a window of opportunity to exploit.
A long essay in Politico makers grim reading. Without US support, Europe is currently unprepared and militarily vulnerable.
Russia beats Europe’s armies in troops, tanks, artillery, aircraft, and defence spending.
“While EU countries have 17 different types of tanks, the U.S. only has one...Between 1989 and 2022, the number of EU military personnel dropped from 3.4 million to 1.3 million.”
Europe would be under-equipped in a high-intensity conflict like the one in Ukraine.
Europe’s only nuclear powers are France and the UK. European countries bordering Russia – like Poland – wonder if they might need their own.
It would take massive financial commitment, public buy-in, military expansion, and 5-10 years minimum to start matching Russian capabilities.
That may be too long.
⏭ Russia has learned to adapt the hard way from its invasion of Ukraine.
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4️⃣ Face Of War – Holding Out Against The Odds
A Ukrainian soldier’s story of six weeks under siege.
A Ukrainian paratrooper recalls 41 days under the rubble. If ever trauma were etched on to every line of a face, it’s this man’s:
“They were constantly storming us, throwing grenades, and those f*@%ing drones were everywhere. One Russian tried to get as close as possible to the basement, I shot him, and he fell right at the entrance. He burned to death there because of the grenades Russians kept throwing...”
⏭ Here’s more on Vladyslav Molodykh’s story.
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5️⃣ What’s Stopping Koreans Having Kids?
Education. Education. Education.
South Koreans have the fewest kids in the world (0.72 in 2023). At this rate, by 2100, the country’s population will be halved to just 24 million.
Why? Alice Evans has the answer: “education fever” and status competition.
Parents, especially mums, feel huge pressure to spend more on extra education like private tutoring to ensure their kids – or more correctly, kid – succeeds academically and maintains the family’s social status.
Poorer families spend a bigger share of income on private education to “catch up” to richer families. They “save” money by having fewer kids.
What’s the answer?
Tax private tutoring. This could ease the financial burden on poorer families and potentially enable them to have more children. However, it’s unclear if this would stop wealthier families finding ways around it.
Tackle status competition directly. But there are no easy policy solutions for fundamentally shifting social values around status and education.
Ban private education entirely (as China has done). But this may simply drive more illicit underground tutoring.
No easy answers then as Korea’s population goes K-Pop.
⏭ South Korea’s population decline is a national emergency.
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6️⃣ Cleaner Air
Urban dwellers are breathing easier.
⏭ Air pollution kills over 8 million people every year.
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7️⃣ The Performance You Missed This Week
The Grammys finally delivered.
Even the audience liked it...
You can see Luke Combs and Tracy Chapman for yourself here.
⏭ For fans of the 1988 original, here it is.
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If you enjoy this newsletter – please recommend it!
Best,
Adrian
