quo, and whatever pressure we put on them about trade or anything else can't change that very much. i also think the president has shown himself to be full of empty threats in a variety of areas from small to large. the president made lawsuit threats, saying he would sue the women who accused him of sexual misbehavior during the campaign. people have come to know the president will make threats and not follow through or not even have any idea what he's going to threaten. threatening this one thing here, the chinese have been through one round of negotiations with president trump, got off with a pretty favorable deal to china, the president wouldn't label them a currency manipulator. i don't think he can claim he's going to do a lot of punitive things he hasn't done already and combine that with the fact there isn't much we can do to contain the north koreans and here we are. >> kevin, is that the perception globally that our emperor has no clothes? >> well, i think it might be too early to say when it comes to