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Most historians agree that the world came closest to a nuclear war with the Cuban Missile Crisis of October 1962, when President John Kennedy discovered that the Soviet Union had installed nuclear missiles in Cuba and warned Soviet leader Nikita Khrushchev to remove them—or else. For two weeks messages flashed back and forth between Moscow and Washington. As tension mounted and U.S. forces, including nuclear-loaded B-52s, were placed on high alert, the Soviets blinked, agreeing to dismantle the sites and ship their missiles back to Russia.

NEW YORK  —  Financial markets do not seem to be pricing in the full risks of Russia’s invasion of Ukraine. The absence of any meaningful negative response in equity, corporate debt and sovereign debt markets in Europe, the United States, Canada and Japan would barely make sense even if there was no chance of the situation escalating into an open conflict between NATO and

NEW YORK  —  Financial markets do not seem to be pricing in the full risks of Russia’s invasion of Ukraine. The absence of any meaningful negative response in equity, corporate debt and sovereign debt markets in Europe, the United States, Canada and Japan would barely make sense even if there was no chance of the situation escalating into an open conflict between NATO and

“History,” Barbara Tuchman concluded, “is the unfolding of miscalculation.”

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero