At least according to the Pentagon, who say they believe that North Korea is preparing to launch one or more of its ballistic missiles. Now before everyone starts hypothesising nuclear armageddon or an outbreak of war on the Korean peninsula we need to remember that no one has mentioned where the missile will go.
If the we believed that there was an imminent threat of a ballistic missile being launched into South Korea then we would have already mobilized our forces to neutralize those ballistic batteries; I am 100% certain of that. We also need to acknowledge that North Korea has fired missiles, sometimes ballistic missiles, before from its east coast into the sea of Japan.
Long story short I am not particularly alarmed by the news headlines, though everyone and their mother on the major news outlets will be wringing their hands. North Korea has a history of this kind of behavior, and despite all the rhetoric from our politicians and pundits, they aren't crazy (just evil) and I doubt they would cross the line. Toe it via rhetoric? Certainly. Bend it with border skirmishes? At times. North Korea is pretty certain that those kind of actions won't result in full out war. Launching a ballistic missile into South Korea, or Japan, would be a different story all together. At least that is my take, and I could be horribly wrong, guess well see.