North Korea

Climate Change and The Precautionary Principle

Weighing the Relative Risks of Action, Inaction Oddly, one of the best arguments I’ve ever heard for The Precautionary Principle — in Tom Friedman’s NYT column yesterday, titled “Trump’s Folly” — never once mentions the term. No matter. Here’s the idea:  when considering a response to a looming threat, ask which way the risk(s) cut: ...
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North Korea & the Housing Market

Flight to Safety No, I don’t think a nuclear conflagration would be good for the U.S. housing market (or anything else). And, there’s no denying that ongoing North Korea – U.S. saber-rattling may have a chilling effect on nervous home Buyers. But, in the meantime, one of the predictable side effects of major geopolitical uncertainty...
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North – South Korea Conflict = Lower Rates

Heightened International Tension Strengthens Dollar The conflict between North and South Korea is having a predictable effect on credit markets this morning. Specifically, whenever international tensions kick up, there is a flight to safety, which — at least until now — translates into demand for U.S. dollars and U.S. debt. That strengthens the dollar, and...
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