way into anything of european union foreign ministers there in the belgian capital the city give mr volatile the results of the election in russia which was as unsurprising to was as the circumstances of the election russia will remain a difficult but russia will also be needed for solutions to the big international conflicts and so we want to remain in dialogue so that was followed by congratulations from the german president from fault before angela merkel added congratulations to the german chancellor stressing the importance of dialogue in the future is fighting me appeared takes over a fourth term as russian president and she wished him luck with the challenges that he would face during that messages of congratulations coming from elsewhere from china from venezuela iran and japan however less congratulatory messages coming out of poland where the deputy foreign minister said that the north stream. to pipeline should be sanctioned that nine billion euro project should actually be stopped elsewhere in the european union a group of member states headed up by the high representative for fo

into a meeting of european union foreign ministers there in the belgian capital city give mr volatile the results of the election in russia which was as unsurprising to us as the circumstances of the election russia will remain a difficult partner but russia will also be needed for solutions to the international conflicts and so we want to remain in dialogue for that was followed by congratulations from the german president front. before angela merkel added her congratulations to that list the german chancellor stressing the importance of dialogue in the future is vital me appeared takes over a fourth term as russian president and she wished him luck with the challenges that he would face during that messages of congratulations coming from elsewhere from china from venezuela ran on japan however less congratulatory messages coming out of poland where the deputy foreign minister said that the nord stream to pipeline should be sanctioned that nine billion euro project should actually be be stopped elsewhere in the european union a group of member states headed up by the high representat

i don't think he's telling the truth it's very obviously because the united states and mr volatiles people. vailable or working in the saudi command and control in the area and in the basement of the saudi ministry of defense and they have their own satellite connection to to centcom in florida so they do have very good. knowledge of what happens with which targets and that in fact they already said it provide time to the formation and order to avoid or to lessen civilian casualties of course that's just for the media consumption the reality is they need to say it is and the u.k. . involved in this war and the fact that they hide it the extent of their involvement is an evident to to to how horrible of all is they are part of this and i wish somebody would ask mr borders johnson who cries for rhino but the sounds of bombs that killed children so if they ask them can you give us the involvement of your involvement in this war on yemen they would not accept to reveal it because their extent the extent of the involvement is really the major it's not only the fueling it's target and sometimes

foreign ministers this is a give mr volatile the results of the election in russia which was as unsurprising to words as the circumstances of the election of russia will remain a difficult but russia will also be needed for solutions to the international conflicts and so we want to remain in dialogue we've also been seeing more and more reaction in the media here in germany if you have a look at what. to say they said that the the win for vladimir putin not to splendid as it may well have been they go on to say that the majority of media in russia was for the president that the majority of the state operators was for the president and that they would have expected mr putin would have taken a larger proportion of the vote than it seems that he already has here in the capital the pearl in a tight tongue has said well it's been looking towards the relationship between germany and russia and it's not a positive one if you take their they're reading from this they say that the relationship could well is frosty and could continue to be more and more frosty but if we go back to saturday the main ta

his way into a meeting of european union foreign ministers there in the belgian capital city give mr volatile the results of the election in russia which was as unsurprising to was as the circumstances of the election russia will remain a difficult partner but russia will also be needed for solutions to the international conflicts and so we want to remain in dialogue for that was followed by a congratulations from the german president front. before angela merkel added her congratulations to that list the german chancellor stressing the importance of dialogue in the future is bright to me appeared takes over a fourth term as russian president and she wished him luck with the challenges that he would face during the messages of congratulations coming from elsewhere from china from venezuela run and japan however less congratulatory messages coming out of poland where the deputy foreign minister said that the nord stream to pipeline should be sanctioned that nine billion euro project should actually be stopped elsewhere in the european. union a group of member states headed up by the high repres

foreign ministers to say give mr volatile the results of the election in russia which was as unsurprising to was as the circumstances of the election russia will remain a difficult but russia will also be needed for solutions to the big international conflicts and so we want to remain in dialogue we've also been seeing more and more reaction in the media here in germany if you have a look at what. to say they said that the the when for vladimir putin not to splendid as it may well have been they go on to say that the majority of media in russia was for the president that the majority of the state operated was for the president and that they would have expected this mr putin would have. taken a larger proportion of the vote than it seems that he already has here in the capital the pearl in a tie tong has said well it's been looking towards the relationship between germany and russia and it's not a positive one if you take their they're reading from this they say that the relationship could it well is frosty and could continue to be more remore frosty but if we go back to saturday the maint

anything -- should we welcome or fear volatility? mr. bernanke: the recent volatility is nothing exceptional. as the veterans are quite aware. the purpose of fed communication is not to eliminate or suppress volatility. the purpose is to eliminate unnecessary misunderstandings, unnecessary communications problems that lead to extra volatility, more than otherwise would be coming from the fundamental economy. i think communication has come a very long way. it has only been a quarter-century since the fed even began issuing a statement after its meetings. now we have far more information provided about the outlook for the economy, about even what the fed or fomc members think are going to be the interest rates. it is a work in progress. i would compare janet's handling of the balance sheet with my handling of the balance sheet as an example of technological progress. i think there is still a lot to be learned. i do feel that transparency and communication have been very positive. it is continuing to improve. we are meeting this afternoon in

at a moregating volatility garment and lester because as mentioned before, mr. a -- last year was volatility mood. vonnie: where do yields go? nandini: from the dot plots we see three but there is a potential for four. they'll be something we are watching closely to see if the fed and everyone basically thinks inflation is starting to bubble up in the u.s.. where yields go on the entire curve, we think the 10 year treasury can get from three to 3.25% at the course of the year. think yields don't are going to run away to high levels from here is there is still a global bond market. central banks like the bank of japan and europe continue to buy yields or bonds across the world, keeping yields quite low, and we think that will keep the 10 year treasury down despite a fed continuing on its normalization. vonnie: what about other parts of the world that might be more safe volatility at least? nandini: it is difficult to find a safe haven in a later cycle, economic recovery in markets. we think the area's more interesting to take risks that markets in the developed e

some volatility after the news that mr cohn is leaving the white house.what happened in the us and asia. now europe and it doesn't look like i can show you the numbers now, but we are expecting it to look wea ker now, but we are expecting it to look weaker as a result of that nervous frns investors —— nervousness from investors. sally has the european numbers. yes you can see it is flat. brent crude down a per cent and our regular guest is with us. justin urquhart stewart is with us, of seven investment management. you were listening to the conversation about trade. give us your take on this and how it is being interpreted in the markets. the backdrop is the global economy doing well, but you have got to put the issue of trade wars and that is a very serious issue for the markets. add to that mr cohn going. without him, who is controlling the mad house? without him, who is controlling the mad house ? the without him, who is controlling the mad house? the result is markets are sailing into the wind, the sails are flapping, they haven't got a direction. beh

do you expect that kind of volatility to continue or where do you see u.s. bond yields going? mr. di: at the beginning of this year, they asked about the prediction for 2018. there is one production i will focus on. it's the fact that volatility will return. we have to look at the banks globally. a tremendous amount of liquidity. there are three fed -- there are three banks that had liquidity. the fed, the ecb, and the bank of japan. and to me, that is the phenomenon. it is not the volatility that we are talking about. we are about going back to historical norms. >> you just got an investment banking license in saudi arabia. i know you're very a i did what is possible there. -- i know you are very excited about what is possible there. what are you planning? what else are you going to do? mr. sayegh: it is very clear to all that the two economies are very much linked. the uae and saudi economy are linked to a large extent. both of them add value to each other. and if you need to have a country that's as prosperous, you need to have very strong financial sector. it is linked to the s

volatility. is risk underpriced? mr.more people who seem too serene then i encounter who seem to be excessively alarmed. to that extent, this does not seem to be a profitous time for investors. erik: how difficult a situation is this for the fed chairman? mr. summers it is a difficult : balance between the legitimate desire to stimulate the economy and to get as much employment and growth as possible, and certainly to the that inflation gets back to 2% and maybe even the average inflation rate gets back to 2%. at the same time i think you have to worry about the financial foundation for recovery if you are the fed chair. i think there is a balance to be struck. erik: is he in a dammed if he does, dammed if he doesn't situation? mr. summers: i think that is for trying things were negatively than i would. but i certainly think it is a very difficult balancing act. has a lot ofowell experience in these judgments. he's an experienced public service in a real professional. >> in the u.s., we just had the best consumer confide

mr. trump more than ten years ago. add a volatile stock market. the dow plummeted in a reaction to the $60 billion tariffs on china. the worst week in two years for the index. but more shakeups could come. former chief strategist steve bannon predicts the president may eliminate the most powerful job inside the white house. >> i've actually argued that if general kelly at any time does decide to leave, the president decides it's time for him to move on, i don't believe there'll be another chief of staff. >> reporter: and the president is expected to head back to washington on sunday night. family staying here for spring break. and if you do see lights or hear sirens behind me, that has nothing to do with the president. that is a local traffic incident happening here. so alex, nothing to be alarmed about with the president. we wish whoever is involved in that the best. >> you read my mind. i was going to ask you what the president was doing behind you. but that is not the case. we wish whoever is involved in that accident well as you said. kelly, t

mr. bolton. this can create volatility in markets and geopolitical risks.hings. i would not change a portfolio today because of what i heard the last three days, but i would watch the u.s. yield curve extremely closely. rishaad: what is going on here? there is a lot of supply coming on and a lot of people suggesting yields will ramp up and --3.5%, by the years year's end. yields getting out of that range to the downside since february, below 2.8%. tell me about it. thomas: if you told me a month ago the london air bank would have moved to the extent it has the past few weeks, i would have told you not a chance in hell, but it happened. it happened because of the way the u.s. treasury is funding itself and not issuing bonds. this is such a complex and almost earth shattering issue in bonds and markets, but it is so seldom understood, no one is talking about it. haidi: in what way should the market be repricing? thomas: i think the market needs to expect u.s. treasury issuance, because the tax legislation trump has successfully passed, this legislation will c

makes sense or the other had of course that creates a lot of volatility and it creates a lot of wildcards and difficult situations carved in mr trump said today that he will soon have the team in place that he wants now what was he telling his dad does this mean that everything since day one of his administration has been truong testing the political waters i mean casting calls by the president is that what we've been watching. i believe this statement is an attempt to gloss over the fact that donald trump came into the white house completely unprepared for the job this has been a year mainly of chaos and trial and error of course there were some successes for trump from the rest publican perspective such as the new tax law generally this white house resembles more a giant reality t.v. show than the government of the most powerful nation on earth let's remember when trump came into office he said he knew the best people he would have the best people turns out he didn't have the best people and apparently he still doesn't have the best people and i think the bottom line is most of the chaos that we've seen is not even caused b

volatile. >> robby, in terms of the things that mr.ou know, he believes donald trump knew about the donald trump jr. meeting with the russians looking for dirt on hillary clinton, he mean he has no evidence of that, and he was not, you know, part of the campaign at the time. he had been fired long since. do you put any credibility in some of the things he said, robby? >> well, we don't know. where i think he matters a lot -- and your introductory segment just talked about this -- is that he's very close to roger stone. this is roger stone's mini me, and we know that stone was talking very frequently with donald trump. we also know that stone was the one who was talking directly to wikileaks. was talking directly to goose fer 2. i think he potentially has this link between donald trump and the russians. i'm not saying it's there, but if roger stone was that bridge, i think he's the one who knows about it. this is classic roger stone. you just said in your segment, you know, performance art. make a show. boy, did he make a show today. so

this is their time to show that volatility is on their side, that they can find mr.cing's in the market and beat the passive benchmarks, which investors have been talking to more and more. the: dani burger with latest on that story. this is news for you, around the infrastructure story in spain. acs and atlantia are in preliminary talks on a bid for to a filingrding coming from the companies. no accord has been reached to date. no news as of yet, but they are in talks. acs rises more than 7% in madrid on the abertis talks with atlantia. and acs were exploring dividing up abertis to avoid a bidding war. we will see which bits go to who. worrystocks advanced as over trade war dissipated and u.s. equities recouped some losses. the dollar and treasuries steadied. mark cudmore joins us from singapore. bloomberg mliv strategist. what do you make of this risk on risk off vibe in markets around the trade story? not always clear on what we should attribute these moves. the asian equity session was pretty positive following the united states. absolutely, markets are trading re

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mr. mueller, does that change this calculus at all in terms of -- >> no. >> market volatility >> no. >> it't play in whatsoever >> no. i'll go back to the backdrop that you're sick of hearing from me but i'll tell you again until you invert the curve, all of this creates the volatility we did a median gain of the s&p 500 going back to 1965 from the date of the inversion to the peak is 21%. it takes place over a median 18.5 months and a recession starts 19 months so when you're trying to time this whole thing, until you invert the -- well after you invert the curve you want to buy dips and i think that's the mistake we make is trying to make a difference this time. it's not different it's the people watching and on this desk can get access to credit, we're going to take it and use it. >> did you bother looking for so-called safety trades in this sort of market or do you think that the entire market is fine >> no, i think it's the entire market let's look at it this way. the safety trade today, tomorrow, i am awful, awful at predicting precise lows. when you're in a market weakness period yo

volatile also to be or not the. mean better take it and then a zealot mr full of blood in the sea or jani can lead your sister can also to knock the walked in limb to so sue me for. hillel had the info to really. marry limousine or the men told me. in a good road. and way of doing and no one. couldn't hear what the. who are living and the a still for the mother also to be or not the in will feel calmer working. is more amaziah the mo would the one of the most as follows for the moon as i'm been going to before little can be a loss for the. indefinite almost. all of our family of how well i mean. in almost the hate. and. love have never had a shot of. this world and it is still is that those laws. in the world believe many believe it was no noble more they heard the whole of the muslim easier that would tell you how this moved to happen or. so here and who is now under let in their mission article be a lot of rubble to figure. what. the hell fucker that allah is that he had met them. on the twenty second of january one thousand nine hundred eighty eight he was transferred from the psychiatric institution to the america

mr. navarro, but still a little volatile.re, big number, the number of millionaire household in this country increased by more than 700,000 last year. this is mostly due to the surge in stock market and to some degree rising home values, by the way, there are now more than 11 million millionaire households in the united states. what was that number -- 25 million. ashley: jumped 10% last year, increased by 16,000 or 172,000 households in america currently with worth of 25 million. stuart: we like that number. all right, thank you very much, ash. okay, interest rates, key indicater thereof is 10-year treasury bond which yields 2.83%, i'm going to say that's rather depressed, why, a lot of money is going into it as source of safety. same story with gold, money is flowing it because it's considered form of safety. gold is up 13 -- $19 an ounce, 13.52. bitcoin not a flight to safety, it's down 8,600 bucks per coin. facebook, the house commerce committee has invited zuckerberg to testify, the stock no response to that news, 164 sti

but would he be willing to challenge the volatile commander-in-chief? the other big change? mr. trump's nomination of c.i.a. veteran gina haspel to replace pompeo. she would be the first woman to lead the agency. highly respected there, but as the former head of covert operations, she likely face as controversial confirmation. for carrying out bush white house orders to waterboard detainees in secret prisons. if confirmed as secretary, pompeo will be home alone. tillerson leaves a hollowed-out department. 38 key maximums not appointed. 16 key secretary vacancies and undersecretaries vacant. more staff shakeups are expected in the wake of the upcoming talks with kim jong un. a may deadline on the iran nuclear deal and the president threatening a trade war. savannah? >> andrea in washington, thank you very much. the president was met by supporters and protests on tuesday during his first visit to california since taking office. overnight, demonstrators chanted and waved signs outside the president's hotel in downtown l.a. urging him to rethink his proposed u.s./mexico border wall.

volatility. you have folks that are looking to be risk and reduce their equity exposure. they are actually coming back into the treasury market. jonathan: do we have a pain trade developing, mrpeters? greg: i don't know. bonds are doing exactly as they should. bonds are adjusting. there is a complete and utter overreaction to the upside. a month and a half ago. the combination of those two factors with data being more mac and more expectations being high, i think it was set up for bond yields to rally. jim, it means the move is temporary. if it is the data, it could be something more fundamental and can have more longevity. what your thoughts? jim: the level of the data matters as well. we had a pretty big global growth and a cyclical upside. you are starting to see some of that data weakening up. there is some demand. of the last two years, you have seen a significant amount of clients pilot to that equity upside trade and avoid fixed income. you are saying that demand come back. yields are at a much different level right now. jonathan: kathleen, we have spent weeks talking about the risk mitigation quality in the absence of treasuries over the last month. what has changed

mr. powell will be more hawkish. a move dovish approach from the fed could push stocks higher, possible given the volatility we've seen over the past few months. no guarantee. the question is will tomorrow bring a rally or sell-off in stocks in right to the floor show. traders at the new york stock exchange and the cme group. let's go down to the nyse, john corpina, great to see you, john. what are you expecting to hear from the fed, if they are more dovish does the market go higher or seem a little more aggressive, do we see a sell-off? >> ashley, i think you are right by saying if we see dovish comments out of washington, we're going to get a rally in the market. the blueprint has been set and as you said, the odds are heavily in the favor we're going to see industry rate hike. they have no choice, they painted themselves into a corner. they are data dependent. if you look at the volatility but the overall and economic data and how the market has performed over a longer period of time, yes, in fact, this does warrant a rate hike now. the wording is going to be very interesting as to what they're going to say and say

volatility. at least that is what the data would suggest. does the fed think there are risks to the broader financial system of association with etf's? mr. powell: i saw that article. we looked after the volatility came and subsided. we look carefully to try to understand what happened. it seems the markets were generally orderly through almost all of that time. etf's are particular form of find and i do not think they were particularly at the heart of what went on on those days. but something we are talking to her fellow agencies about, particularly the sc's -- the sec look be best-positioned to at this. it is something we are looking into. >> you talked about the historic low unemployment rate among people of color but again, you acknowledge the rate of unemployment for people of color as much higher than for white workers. fact that the participation rate, according to your testimony, has been fairly constant, does the fed have any suggestions to the trump administration about -- if the wind is at our backs, if we are putting more people to work, how do we close that gap? how do we get more people color to the workforce so that, again,

volatility, about his uncertainty. and so, the crown prince is going to go into this meeting with some apprehension, some uncertainty about whether and whether mrrabia certainly play an important role in the middle east, particularly when iran is on the other side and you have this sort of proxy battles to both iran and saudi arabia have been various middle east countries. lebanon for example. saudi arabia wants to keep iran at a distance. and so this is, you know, we hope this meeting will go well, but understand various and element of distrust the saudi's warned by nuclear leaders against trump. cheryl: hopefully and i do believe the one thing they can agree on today, president trump and the crown prince is the threat of iran in the instability and distress to the iranians. that will be on the table today when these two gentlemen sit down together. we thank you both. we appreciate that. lauren, obviously what we are discussing earlier with the possible delay of the aramco ipo, the saudi princes coming to new york. certainly, new york was the listing, but the crown prince may be backing off. cheryl: maria bartiromo will most likely have news o

volatility in the sxharkd had the european union threatening to retaliate. >> please reconsider your solution. >> anxiety in the west wing beset by departures and chaos. over the weekend, mr. trump showed off his lighter side, having fun at the annual gridiron dinner. a white tie event with journalists and washington power players. there were no tv cameras inside as the president delivered punch long, making fun at daughter ivanka and jared kushner. i wanted to apologize. jared couldn't get through security. and teasing about the many departures. i like turnover. i like chaos. who is going to be the next on sfleef steve miller or melania trump? >> washington was gearing up for the annual conference of the powerful pro israel lobby. he will be seen at that conference a little later this week. >> kenneth starr, superstar? roger frere finally meets his match with "today" show savannah guthrie. they'll battle it out. >>> the washington summit says it wants a summit this week. we can't figure out who is going. >>> and right there you hear the opening bell at the new york stock exchange. the dow up 241 points. stocks rose today, easing earlier losses as worries the potential tr

this has been happening over the past few years with volatility falling, which of course means less opportunities. the back and forth of this is that mrked the fact that mr. solomon doubled down on risk-taking as well as -- versus other banks, but as for mr. schwartz, he was a less averse to that. we spoke to mike mayo and he had a bit more to say in terms of why mr. solomon was a pick. take a listen. >> his strength is on the investment banking side. the revenues of goldman sachs were down 20%, but the revenues for his area in banking were up 10%. so he is heading the area with good growth. one of the best corporate rolodex is around. ramy: it basically seems like it comes down to kindred spirits. what do investors want? they want profit. that is why mr. solomon in part was likely chosen. >> thank you so much. a big story for us here today. you can get a roundup of that story and many more you need to know. bloomberg subscribers can go to dayb . available on mobile in the bloomberg anywhere app and you can customize your settings so you only get news on the industries and assets that you care about. more ahead. a look at a deepen

volatility. they are still up a ton since the election. and i think america is a great place to invest. i think there is still tremendous upside. mr. secretary, thank you very much for coming on with bloomberg news. steve: thank you for being here. kevin: i will toss it back to you in the studio. julie: our thanks so much to kevin cirilli for bringing us that interview with the treasury secretary, who said we could be getting the announcement on tariffs as soon as tomorrow and definitely by the end of the week. we will stick with that topic, as the threat of a trade war already shake that shook the markets. gary cohn is out at the white house. here to break it all down for us is subadranuchin -- rajappa. driven extent was this by the news on whether the president will carve out exceptions for countries like mexico and canada? >> a lot of it was. you could see the reaction on the various charts. we were looking at a lot of technical indicators. this morning we were focused on that 2700 level. were was concern that if broke below that, we could be retesting that 100 day moving .verage seeing that the market run has run out of steam.

volatile president. and within the last hour and a half, he has his long time advisor roger stone going on tv and trying to make sense of what mrat one point said yesterday, which was i'm willing to go to jail to defend roger stone, but he didn't do anything wrong. and you at to that what i saw in a journalistic account in a nonpartisan public, bloomberg said to say that any one of these things is a side show or surf just a function of who mr. stone is or who mr. nunberg or george popadopoulos, every single one of these people were hired by donald trump. >> yesterday on your show, we were talking about the bomb shell report that the kremlin maybe tipped the scale as to who became america's secretary of state. we have very important stories about the fate of our democracy, coming out one after another, as the mueller russia investigation closes in and really starts drilling down on this. so it's almost impossible to keep tabs on, like, what matters on any given day, but i think we're starting to see this mass exodus more because the staff knows that they're liable every day they stay there, they know that the white house is a li

mr carney has taken aim at the dangers they pose to financial stability because of their wild volatilityining us now is james hughes, chief market analyst, at axitrader. he did not mince his words, really tough words from mr carney. what is he so concerned about? they are tough words. the issue that we have with cryptocurrencies and the issue all around the world with these is the fact that, of course, they are unregulated. but they have such massive swings in price. that is the most worrying thing. if you are an investor in bitcoin or any of these cryptocurrencies, you have to have deep pockets with your investment. you can be very much in the money, in profit with trading, or you can be out of the money, very ugly. what mark carney is doing is giving a warning, yes, but he is trying to protect people's money if they are investing in cryptocurrency. the whole point of this being the signs ofa whole point of this being the signs of a bubble is very true. when you see something that goes up so dramatically and so quickly, often the downside when it finally does burst, all we do see negati

mr. dow a break though. the whipsaw on monday and the whipsaw on tuesday, i mean, stocks have been -- what do we have a 1200 point swing, sandra. >> sandra: get ready for more volatilityo an easter holiday weekend and the bigger swing. and a big jobs report will be coming up next week. >> bill: important stuff. >> sandra: for march and earnings seasons will kick off. >> bill: facebook's getting beaten up and so too is amazon today. these have been high flyers also. i wonder how many of you have changed your facebook habits over the past week. >> sandra: quite a few people. i know that for sure. >> bill: we'd like to hear you from on twitter. >> sandra: we'll have more on that come up, by the way. >> a state law is state law. it's my job to enforce state law. i will do so. and we want to make sure every jurisdiction including orange county understands what state law requires with the people and the subdivisions of the state of california. >> does that mean a lawsuit against the sheriff? >> i think i just answered that. >> sandra: california's attorney general with strong words for the sheriff of county as the they pushback against the state's sanctuary city laws by wor

volatility in the markets and had the european union threatening to retaliate. >> please reconsider your solution. >> the controversial tariff announcement against an intense backdrop. over the weekend, mr. trump showed off his lighter side amidst the drama having fun at the annual gridiron dinner. a white-tie event with journalists in washington. power players. there were no tv cameras inside as the president delivered the punchlines, poking fun at ivanka and jared kushner. "i want to apologize for arriving a little bit late, jared could not get through the security." and teasing about the many white house departures. i like turn over and chaos. who is the next to leave? also this morning nbc news confirmed the state department has yet to spend any of the $120 million it was given since late 2016 to combat foreign meddling in the u.s. election. it's not clear why. critics say it seems to be a part of a broader passive response to russian interference with the trump administration. with the midterm elections fast approaching. >> kristin welker from the white house. thank you. >>> the president is also making headlines with what he is now saying about the north korean crisis. this is the

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