How big of a threat are Hong Kong protests to global markets?

Well less the protests than the almost certain Chinese crackdown that is going to come against the more violent protesters, who tried to basically divide the Hong Kong population that way and make them much less effective as a conduit for international finance. There will be a negative market reaction against mainland China as well. And Singapore will do a little bit better. But my God. How horrible for Hong Kong.

Is Russia developing a new nuclear missile?

It certainly seems that way. But more importantly it's just good to remember that there is this existential threat out there in terms of these major nuclear arms race. The Russians have a tiny economy today but doesn't stop them from being able to wipe away the planet. And on balance the fact they're in decline should make us worry.