The Presidential Daily Brief

Pyongyang, Seoul Set Meeting for Tuesday

It’s a waiting game. The meeting, barely imaginable before Kim Jong Un’s Jan. 1 message, will focus on North Korea’s potential inclusion in next month’s Winter Olympics. As a peaceful gesture, South Korea’s postponed joint military exercises with the U.S. scheduled to take place during the games, while President Donald Trump responded on Twitter to take credit for North Korea’s willingness to come to the table. Though the Hermit Kingdom only has two qualified athletes who could participate, both figure skaters, it could also send officials to round out a delegation.

Trump Opens Coastal Waters to Oil Drilling

There’s some new offshore accounting. The Trump administration announced a plan to open nearly all of America’s coastal waters for oil and gas drilling, including more than 1 billion acres in the Arctic and along the Eastern Seaboard. But governors in a number of coastal states oppose the move — a rollback of an Obama-era ban — including Republican Gov. Rick Scott of Florida. Interior Secretary Ryan Zinke said he would speak with state leaders before the change is finalized, which experts predict could take as long as 18 months.

US Suspends Security Funding to Pakistan

Nothing comes free. After President Trump tweeted about Pakistan’s failure to fight terrorism this week, Pakistani officials derided what they saw as Trump placing blame on other nations for U.S. weakness in Afghanistan. Now the U.S. State Department says security aid will be suspended, except on a case-by-case basis, depriving Pakistan of at least $900 million in 2017 funds. Civilian aid won’t be affected. The White House says it will wait and see if Pakistan takes “concrete steps” to confront the Afghan Taliban and other terrorist networks in the region.

Dow Hits Record 25,000, But Investors Remain Wary

It’s a bull market, but there are red flags. The longest-running positive upswing for the American market since the turn of the century hasn’t kept investors excited: Surveys indicate that stock ownership has declined precipitously, with older Americans fearing for their retirement funds and younger ones raised during the financial crisis distrusting the system or too poor to get into the game. Meanwhile, analysts say the protracted bull market is certain to make a correction — and those not betting on a sharp drop could lose their shirts.

Rotten Apples, Reptile Rain and the PDB Quiz

Know This: Apple says all its devices are affected by newly discovered chip flaw Spectre, though some are protected against Meltdown, which only affects Intel chips. Serena Williams has withdrawn from the Australian Open. And it’s raining iguanas in Florida as an unusual cold snap shuts down the cold-blooded creatures, who perch in trees, and sends them tumbling until warmer temperatures can reanimate them.

Try This: Feeling presidential after a week of briefings? Prove it with the PDB Quiz.

Talk to Us: Tell us how you really feel. Our electrifying TV show, Third Rail With OZY, is shelving the PC and whipping up debates. Each week we’re posting a provocative question, and we want you to weigh in. This week: Should we make prisoners work for free? Email thirdrail@ozy.com with your thoughts, and we might feature your answer next week.