Thought for the day

"The first panacea of a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permeant ruin. But both are the refuge of political and economic opportunists." -- Ernest Hemingway

Members of the Japanese government questioned how effective their country’s early warning system is after it provided flawed messaging when North Korea launched a ballistic missile over Japan earlier this month.

An alert was issued to Hokkaido and Aomori prefecture in northern Japan after the launch Oct. 4, Prime Minister Fumio Kishida said in the Diet’s upper house three days later. But the system caused confusion by also broadcasting an unnecessary alert to islands near Tokyo, he said.


Japan decided Tuesday to impose additional sanctions on North Korea by freezing the assets of five more organizations over their involvement in Pyongyang's nuclear and missile development programs, top government spokesman Hirokazu Matsuno said.


A Japanese rocket carrying eight satellites deviated from its trajectory just after liftoff Wednesday and had to be aborted by a self-destruction command, making it Japan’s first failed launch in nearly 20 years, the country’s space agency said.

The Epsilon-6 rocket’s flight had to be scrapped less than seven minutes after takeoff from the Uchinoura Space Center in the southern Japanese prefecture of Kagoshima, Japan Aerospace Exploration Agency president Hiroshi Yamakawa said.

North Korea fired two short-range ballistic missiles from the Munchon area of Kangwon Province to the waters off the peninsula’s eastern coast, South Korea’s Joint Chiefs of Staff told reporters on Sunday.

The missiles were launched between 1:47 a.m. and 1:53 a.m. local time Sunday, according to Japan’s State Minister of Defense Toshiro Ino.

Both missiles fell outside Japan’s Exclusive Economic Zone, Ino added.


North Korea has launched two more missiles, this time over South Korea. This is the second missile launch the nation has fired off in three days.

The first missile was launched on Tuesday and was a short-range weapon fired east over Japan. This was allegedly in response to the United States redeploying an aircraft carrier close to the Korean Peninsula. The missile flew well over Japan and was heading toward Hawaii when it landed in the Pacific Ocean.


The line for promoting NATO's potential in the Asia-Pacific region (APR) using any tools is clearly taking shape, Nikolai Nozdrev, director of the Russian Foreign Ministry's Third Asian Department (3AD), said in an interview with Sputnik.

Update (9:40pm): According to South Korea’s Joint Chiefs of Staff, North Korea’s intermediate-range ballistic missile flew ~4,500km with an apogee of ~970km, reaching a speed of Mach 17 before splashing in the Pacific ocean, some 2800 nautical miles east of Korea, having traveled above Japan. The JSC added that South Korea and US intelligence authorities are still analyzing more details.


North Korea has launched a missile over Japan for the first time in five years, prompting Japanese officials to urge its residents to take shelter.

The missile was fired at 7:22 a.m. local time Tuesday and flew over Japan. Twenty-two minutes later, it landed in the Pacific Ocean, Japan's Chief Cabinet Secretary Hirokazu Matsuno said, per The New York Times.


One week ago, when the BOJ stunned the world in becoming the first central bank to step in and prevent currency collapse (just days before the BOE become the second one) through a massive open-market intervention - the first of its kind in 24 years - we asked "How many tens of billions $ did the BOJ just sell"