Howard Gold’s No-Nonsense Investing: Investors are in denial about the rising risk of war with North Korea

For months, big investors have been mesmerized by low interest rates, good earnings and economic growth, and the prospect of tax reform.

On Wednesday, the Dow Jones Industrial Average DJIA, +0.25% and S&P 500 SPX, +0.31% bounced back from Tuesday’s big selloff, as traders bought on the dips yet again.

But Wall Street continues to blithely ignore the Brontosaurus in the room: The U.S. and North Korea are moving inexorably toward war, and even we in America wouldn’t be immune to the consequences.

The pattern of the last several months is clear. North Korea’s leader Kim Jong Un, who seems as cruel and paranoid as the boy king Joffrey in “Game of Thrones,” has launched many missile tests (including one over Japan) and is rapidly developing high-capacity nuclear weapons, perhaps even a hydrogen bomb.

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