Ukraine

Fascinating dynamics in these Ukraine discussions. More moderate takes here by Edward Luttwak and Tyler Cowen, both seemingly in mild support of Trump's efforts.

And then there's a former UK spy chief intelligently discussing the issue.

Spy chief points on an interesting angle - Putin needs Trump. If he angers Trump and the deal goes away - what's Putin's plan B? Will he have a better chance to make a deal in the future? Does he risk Beijing ever having second thoughts? Their own agenda? What if Europe gets their act together? What if Trump decides to continue to bleed Russia out of annoyance? 

On the positive side for Ukraine - giving up land looks bad from the Western perspective - it looks like it rewards Putin. But a reminder of what Putin loses in a ceasefire. Ukraine will exist. The Europeans will have awakened to the need to defend Europe. 

Putin is 72 years old. Maybe Russia regroups for rounds 2 and 3. When do those occur? And how old is Putin when they do?