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}A daily digest of opinions and analysisUnderstanding North Korea's Latest Missile LaunchOf course Kim Jong Un isn't willing to negotiate away his regime's nuclear potential — but he'll happily accept the West's concessions. Eli Lake makes sense of North Korea's sudden test of an ICBM on Tuesday, which came after two months of relative peace and quiet. China's Micro-Lending MessOnline lenders have serious problems in China, but banning them would be a mistake. Christopher Balding reports on a Chinese regulatory crackdown that risks destroying a promising industry.The Case for Investing in Bitcoin, Even If It's a BubbleBitcoin may have an inflated valuation — and so may Uber, Tesla and Snap — but together, their tide lifts many better boats. Leonid Bershidsky argues that investments in progress are never entirely wasted.Why Economists Love Property Taxes, and You Don'tAdam Smith, Henry George and even Milton Friedman have had good things to say about land-value taxes, but property taxes (which are pretty similar) are almost universally loathed. What gives? Justin Fox says rising bills can force homeowners to make some unpleasant decisions — which is as politically unpalatable as it is economically appealing. Ritholtz's ReadsIs this the end of the NFL? (New York Magazine)Is your stockpicker lucky or good? (Wall Street Journal)The internet broke the media, and there's no turning back (Bloomberg Businessweek)(Read Barry Ritholtz's full daily news roundup here.) Bloomberg GadflyBeware Apple's valuation canyonBuffalo Wild Wings is fully cookedNobody need fear a banking inquisition(Read more from BV's sister site for fast business commentary.)Bloomberg L.P. ● 731 Lexington Avenue, New York, NY 10022Web ● Facebook ● TwitterFeedback ● Unsubscribe

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