| This is Bloomberg Opinion Today, a lopsided relationship of Bloomberg Opinion's opinions. Sign up here. Programming note: All of the election-related columns in this newsletter are free for you to read. There's a century-old watering hole in Paris called "Harry's New York Bar." It's famous for many reasons: It's the birthplace of the Bloody Mary and the French 75. It's a celebrity haunt, attracting a wide range of patrons over the years, from Sinclair Lewis and Ernest Hemingway to Daft Punk and Coco Chanel. And perhaps most interestingly, it's a very reliable gauge of presidential elections. Every year since 1924, Americans living in all number of arrondissements have headed to the bar to participate in a straw poll and get drunk, I presume. In all but three elections, this poll has correctly predicted the outcome, and last night was no exception:  Photographer: Kiran Ridley/AFP But those who didn't go to Harry's woke up to a shocking surprise: President Donald Trump won the election. Again. Although the post-election hyperbole is alive and well online, Lionel Laurent says Europeans are decidedly mixed on the result. "Those on the nationalist and Euroskeptic end of the political spectrum are feeling energized; those on the left are no doubt tweeting through gritted teeth," he writes, pointing out the difference between French President Emmanuel Macron's English tweet offering to "work together" with Trump and his French-language tweet, which promised a stronger, more united Europe. "The Old Continent looks woefully defenseless in the face of the coming geopolitical storm," Lionel writes. For over three decades, Europe has relished in a lopsided relationship with the US: It depends on the country for security, tech dynamism and financial support. Trump's shift to "America First" spending could cripple the economy and leave it defenseless. If only the French whale who scored a $48 million jackpot this morning could help cushion the blow. Beyond Europe's borders, Andreas Kluth sees many more risks in Trump's ascent to the global stage: "Russia's Vladimir Putin, with his KGB-trained mind, has always known how to flatter and manipulate Trump, and that's what worries Ukraine. China's Xi Jinping has taken note of Trump's inconsistent statements about Taiwan, and is ready to wage the trade war that Trump promises to launch. North Korea's Kim Jong Un already knows Trump from three summits and a brief exchange of 'love letters'; as a direct result of that failed flirtation, he went full-bore in building nukes and missiles to threaten South Korea, Japan and the US." As for America itself, Mike Bloomberg, founder and majority owner of Bloomberg LP, says "the country will simply need to deal with Trump, and begin to restrain his worst excesses, one more time. Dealing with a reckless president is an exhausting job, but it can and must be done – and it's a job for members of both parties." Now, about that Bloody Mary I ordered … Perhaps the most bizarre portion of Trump's early-morning victory speech was when he fanboyed over his campaign's sugar daddy, Elon Musk. Trump praised Musk's "beautiful, shiny white" rockets with ugly paint jobs that are 22 stories tall and burn "like hell." He spoke about how he made an "important man" hold on the phone for 45 minutes as he watched the "crazy thing" go down and nearly crash into the gantry. "I thought it was a Space Age movie or something," he told the crowd, noting how the vessel "came down so gently" and wrapped "those arms" around it like it was a little baby. "Only Elon could do this. It must be an Elon," he said. He even provided a detailed play-by-play of his conversation with Musk after watching this Biblical event: Trump: Elon, was that you? Musk: Yes, it was. Trump: Who else can do that? Can Russia do it? No. Can China do it? No. Can the United States do it? Other than you? Musk: No, nobody can do that. Trump: That's why I love you, Elon.
Musk, of course, is more than happy to play the role of Taylor Swift for MAGA if he gets his way on deregulation. At 12:35 a.m., he posted a "let that sink in" meme on X with a poorly photoshopped image of him in the Oval Office. A half hour later, he was bragging about seeing "record usage" on the platform. It's just one instance of how his $130 million bet on Trump is already starting to pay off:  Tesla, too, saw gains. At first, it seems counterintuitive that Musk — a man who built his fortune on the energy transition — would champion an individual who says wind turbines kill whales and cause cancer. But Liam Denning, Thomas Black and Dave Lee have detailed why a second Trump term would be a boon for the CEO. "Tesla has relied on the government for subsidies in its EV business," they write, but "robotaxis are a different matter. The company would prefer that the government leave that business alone … Musk's mere proximity to any future Trump Oval Office could cause federal agencies to think twice about upsetting a presidential ally who has the potential to influence budgets and appointments." Matt Levine sees Musk "as the great legal realist of our time, a guy who is unusually strong-willed and clever about seeing rules he doesn't like … Most people do not get to choose which laws apply to them, but Musk is proof that, with enough money and willpower, maybe you can." Bonus Energy Reading: It is worth checking assumptions on what the switch from President Joe Biden to President-elect Donald Trump means for energy. — Liam Denning A cost-of-living backlash gave Trump a boost, but mortgage rates won't be coming down. — Jonathan Levin Trump likes a weak dollar, but wait for the Fed before getting caught out on that limb. — Marcus Ashworth American companies need to pay workers a living wage — and be transparent about it. — Nir Kaissar Never mind the Juul lawsuit memes: Gen Z cares a lot about managing their finances. — Erin Lowry There's a lot wrong with higher education, but at least it's getting more affordable. — Tyler Cowen Spain's flooding tragedy shows that we need far better weather alerts. — Lara Williams Kamala Harris conceded. Ireland has an election, too. Jeff Bezos sent Trump a message. The crypto industry's big gamble. A burger that takes a month to make. A doctor disguised as a nurse gets 31 years in prison. Ruby slippers from Oz are up for auction. Notes: Please send slippers, burgers and feedback to Jessica Karl at jkarl9@bloomberg.net. Sign up here and follow us on Threads, TikTok, Twitter, Instagram and Facebook. | 
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