It’s Thursday, January 15. This is The Front Page, your daily window into the world of The Free Press—and our take on the world at large. Today: Was Eric Adams’ cryptocurrency a scam? Why aren’t the Brits having babies? Why Catch-22 is the novel for this moment. Peter Savodnik talks to Vivek Ramaswamy. And much more.
But first: The cracks in the Trump coalition.
The split screen could hardly be starker: On the world stage, Donald Trump feels—and sometimes appears—omnipotent. The only thing that can stop him, he said in an interview with The New York Times this week, is “my own morality, my own mind.” (The biggest question weighing on that mind this week: whether to strike Iran.)
At home, the story is very different. It would be overstating things to call the president a lame duck, but he is weaker than you might expect, and the movement he created is cracking up.
Our first offering today is a deep dive by Michael Doran into the civil war that has broken out in the MAGA ranks, and a look at three characters who will shape the future of the movement: Elon Musk, Tucker Carlson, and J.D. Vance. This essay, first published by our friends at Tablet magazine, is an essential guide to the dynamics that will determine the future of the American right. Read it here:
Up next, Peter Savodnik talks to one of the figures who hopes to be a big part of the future of MAGA: former presidential candidate Vivek Ramaswamy. Now running for Ohio governor, Ramaswamy has recently taken aim at the “woke right” and fringe figures like Nick Fuentes. Now he must try and keep the unhappy Republican family together if he is to win what polls suggest will be a tight contest. He tells Peter why he thinks optimism is a winning message in the Rust Belt, and explains what it means to be a “Ramaswamy Republican.” Read Peter’s profile:
—The Editors
In 2024, the fertility rate in England and Wales dropped to an all-time low. This year could be a turning point in the UK, with deaths outnumbering births and, without immigration, Britain’s population starting to shrink. Kara Kennedy spoke to the women driving the trend.
In his campaign for New York City mayor, Zohran Mamdani surged to the top by offering voters a vision of an affordable city—and by promising to tax the rich to get there. With Mamdani in office, Peter Coy explains why the mayor’s promise to target “the Wealthiest Corporations in New York State” could backfire, letting off multinationals like Pfizer, Goldman Sachs, and American Express easily, while pinching the local mom-and-pop shops harder than ever.
Ever since the mission to grab Nicolás Maduro from Venezuela earlier this month, there has been much talk of the Monroe Doctrine and the Roosevelt Corollary. But what is the history behind these terms? Jonathan Horn brings that to life in the latest installment of his newsletter that celebrates this week in American history. Plus: butter sculptures of Benjamin Franklin, Roosevelt’s must-see summer home, and more.
Earlier this week, Eric Adams launched a cryptocurrency that would, he claimed, help fight “anti-Americanism” and antisemitism. Then, a few days after its launch, somebody involved in the meme coin took out $2.5 million from the pool of cash raised—leading some to suspect a “rug pull.” Mark Gimein tries to make sense of the former mayor’s mysterious meme coin.
Tune In: Elliot Ackerman on Catch-22 and Niall Ferguson on Iran
In Venezuela, a U.S. operation that captured President Nicolás Maduro has sent shock waves through the hemisphere. In Iran, a deadly crackdown on nationwide protests has Washington threatening the possibility of direct military action. All this instability and conflict makes it a good time to revisit the most acclaimed anti-war novel in American history: Catch-22. On the latest episode of Old School, Marine Corps veteran Elliot Ackerman unpacks Joseph Heller’s classic war satire, and why it speaks so sharply to this moment. Listen to his conversation with Shilo Brooks wherever you get your podcasts, or by clicking the play button below.
For the latest on Iran, listen to the latest episode of Conversations with Coleman. Niall Ferguson joins the show to help make sense of Iran’s wave of protests—and the unprecedented bloody crackdown of the last few days. Listen to Coleman and Niall in conversation below, or wherever you get your podcasts.
Tickets for the next Free Press live event go on sale this morning. On February 9 at the Comedy Cellar in New York City, Coleman Hughes will sit down with Michael Shermer—historian of science and author of Truth: What It Is, How to Find It & Why It Still Matters—for a live conversation. Click here for the full details, and to grab tickets to this intimate event before they sell out.
Trump said Wednesday he has been told the killing has stopped in Iran. Earlier in the day, the U.S. military evacuated some personnel from the American air base in Qatar. The decision was described as precautionary and came shortly after Trump threatened to “take very strong action” against the Iranian regime if it executes any of its protesters.
President Trump said on Wednesday that “anything less” than the U.S. taking control of Greenland is “unacceptable.” Trump said NATO would become “far more formidable and effective with Greenland in the hands of the UNITED STATES” in a post on Truth Social. Vice President J.D. Vance hosted the Danish foreign minister and a Greenlandic official at the White House later in the day.
The FBI searched the home of Washington Post journalist Hannah Natanson on Wednesday morning, as part of an investigation into potentially leaked government documents. The agents seized several of her devices, but investigators say she is not the focus of the probe. Washington Post executive editor Matt Murray described the search as an “extraordinary, aggressive action” and “deeply concerning.”
The UK is backtracking on a controversial policy requiring workers to register for a digital ID. The plan initially received enormous blowback, alleging violations of privacy.
Michigan senator Elissa Slotkin is under investigation by the Trump administration for taking part in a viral video urging troops to disobey unlawful orders. The Department of Defense is also trying to demote Arizona senator Mark Kelly from his position as a retired Navy captain for his role in the video; Senator Kelly responded by suing the Defense Department on Monday.
The Chinese government announced Wednesday that its trade surplus hit a record of nearly $1.2 trillion in 2025. The surge came on the back of a 5.5 percent increase in exports, despite President Trump’s tariffs.
Saks Global, the high-profile department store company parent, has filed for bankruptcy. The move comes just a year after Saks agreed to a $2.7 billion merger with Neiman Marcus, designed to create a luxury super brand.
Actor Matthew McConaughey is waging a trademark battle to prevent AI companies from using his likeness. Over the past several months, the U.S. Patent and Trademark Office has approved eight separate trademarks for McConaughey for clips of himself staring, smiling, and talking into the camera.
When will folks figure out Trumps style. He picks an issue, then he lobs a hand grenade and a couple of flash bombs into it with outrageous statements. Then as people are stunned and some just freak out, he quietly walks around picking up the pieces of shrapnel that he was really after and assembles his goal. Check, then move on.
Oh good…more excitement from TFP about the MAGA split 🙄. Whether we like it or not, and I was looking forward to an “America first” agenda, Trump is trying very hard to make protecting Americans his mission…and not just during his term. What an F-up job Biden and his admin did that he’s trying to clean up. I believe the economy is headed in the right direction even though the media are still wishing for the worst.