| This is Bloomberg Opinion Today, a "for your consideration" ad of Bloomberg Opinion's opinions. Sign up here. Somehow, Heartbreak Feels Good in a Place Like This | Welp. I guess this means I have to watch Emilia Pérez now: Based on all the terrible reviews and that one TikTok that made me want to gouge my eyes (and ears!) out, I can't fathom how it'll hold a candle to Forrest Gump, Gone With the Wind and Mary Poppins — movies that also received 13 Oscar noms, the second-most for any film ever. But alas, what's done is done. Underneath Pérez sits The Brutalist, another controversial movie that is so long it has an intermission, tied with Wicked, which means Ariana Grande is sobbing in a corner somewhere. Speaking of corners: Several films, including Babygirl, got snubbed this year, either because the Academy hates to see Luca Guadagnino smile or they're … afraid of sex? That's one theory at least. They gave no love to Challengers, Queer or the cinematic masterpiece that is Madame Web. C'mon, Dakota Johnson spent a lot of time learning how to *not* open a can of soda for that movie. Perhaps you're wondering why I'm kicking off this newsletter with a recap of Oscar nominations and not one of the myriad atrocities plaguing the planet. Parts of Los Angeles are still on fire, and the Bloomberg Opinion editorial board says the recovery process will be "expensive and disruptive." But, as Jason Bailey says, entertainment makes the world go 'round, even in the darkest of moments. Case in point? The FireAid benefit concert is happening on Jan. 30. Maybe you're thinking: But that's different from the Oscars— all that concert money goes to charity, while an awards show is a tacky display of pageantry that lines the pockets of TV bigwigs. But that misses the big picture: Without the Oscars, who would pay the army of hair and wardrobe stylists that helps celebrities get red-carpet ready? What about the makeup artists tasked with doing touch-ups backstage? Or the camera technicians and stage crews hired to televise the ceremony? These people need that income now more than ever. "The after-effects would be felt even outside the Dolby Theatre" if the show were cancelled, Jason writes. "Entertainment industry media outlets are financed, throughout the lean early months of the year, by 'for your consideration' ads, while publicists and consultants generate much of their annual income working those campaigns." As for the rest of us watching at home: "In troubled times, with our collective psyche in a state of constant tumult from political battles, economic woes and general national instability, the movies offer one of the most valuable services imaginable: escape." Nicole Kidman certainly agrees. The Return of the Green Mile | Are we surprised that President Donald Trump is bringing back executions? No, not in the least. We're talking about a guy who paid for a full-page newspaper ad during the Central Park jogger case to say this: Still, portions of the executive order — aptly called "Restoring the Death Penalty and Protecting Public Safety" — come as a surprise to our legal scholar Barbara McQuade. "Trump is directing the Justice Department to overrule the Supreme Court," she writes. In the past, justices have waived the death sentence for defendants who are under 18, mentally disabled or legally insane, but Trump's order could change all that. It also could reverse precedent, which Barbara says may harm the credibility of the court. Elsewhere in questionable executive orders, you have "Designating Cartels and Other Organizations as Foreign Terrorist Organizations and Specially Designated Global Terrorists." Although Juan Pablo Spinetto says the move to classify drug lords as terrorists "may be more symbolic than practical for now, the long-term consequences it holds are worrying: Organized crime has rooted itself very deeply in Mexico in recent decades. Gangs already operate in more than 70% of the country's territory." Under Trump's proposal, anyone who comes in contact with a cartel could be on the hook for collaborating with terrorists, whether they're an avocado farmer in Michoacán or an arms dealer in Texas. During Trump's virtual visit with the suits at Davos today, he told the crowd: "We've accomplished more in less than four days ... than other administrations have accomplished in four years." If he means he made the world a lot more legally hazardous, then sure, he got a lot done. Telltale Charts From Across the Pond | Last year, over 10,000 millionaires — including 78 centi-millionaires and 12 billionaires — left the UK, which sounds like a lot. Yet if you zoom out, you'll see the exodus amounts to less than 2% of high-net-worth residents. "Not quite the stampede for the exits that it might appear," Matthew Brooker writes. "This isn't an argument for complacency; rich people heading for the door is unhelpful for the UK's economic prospects and certainly not to be welcomed," but, no matter what Labour's tax critics say, it's not career-ending for Rachel Reeves.  London's remaining millionaires who own or lease a private jet— tsk, tsk — are probably chuffed by the prospect of an extra runway at Heathrow. But Lara Williams says Labour's plan to expand three London airports would render a different moonshot project — creating a net zero electricity grid by 2030 — pointless. "The government ought to be wary of embracing unfettered growth in air travel, no matter how hard a pill that is to swallow," she writes. The road to energy dominance runs through Canada. — Liam Denning Actually, Trump's protectionism could end up increasing free trade. — Tyler Cowen Are US taxes too high? Let's compare with other countries to find out. — Justin Fox Trump must see what Russia, China, North Korea and Iran have to lose. — Andreas Kluth Banks' frustration with Fed has boiled over into a legal challenge. — Marc Rubinstein The world needs more natural rubber than the planet can handle. — David Fickling Deregulating finance won't help Rachel Reeves supercharge growth. — Paul J. Davies Thailand allows same-sex marriage now. The DOGE bros are getting a divorce. Tom Brady is selling his billionaire bunker. Political rage bait is alive and well in Mississippi. Revenge of the ski bums. Pandas are our laziest celebrities. Charli XCX is teaming up with A24 for a movie. The Post Malone Oreo presents an existential question. Notes: Please send milk, cookies and feedback to Jessica Karl at jkarl9@bloomberg.net. 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