sense of confidence? Given some of the lack of confidence or the implied lack of confidence in the lack of consensus in the intelligence community? I think there are a number of sources that suggest, or I guess what I should say is, there are plenty of ways that North Korea could, via conventional and other weapons, threaten its near neighbors, particularly South Korea and Japan. Some of the evidence that we've seen in the press, and from experts, suggests that even targets like Guam or maybe within reach in this context. At this point, I think we have to operate on the assumption that there's been improvements, there's been likes, but that some of this are still tests and they're still ... Then I think as an economist, as a market participant, I try to look at the scenarios and think about how do I position myself, which I guess brings us back to where we started, which is, why are markets blasé about this? Or why have they reacted briefly? The US equity market continues to rally, (8/45)