This document discusses potential scenarios related to conflicts in North Korea and Syria and their possible impacts on global markets. It suggests that conflicts in these regions would likely cause dips in markets initially but that markets would rebound and have higher long-term returns. The document also notes that past conflicts have had little impact on the US market and economy despite mismanagement, and that increased defense spending has not necessarily correlated with stock market performance. Upcoming scenarios discussed include the Fed unwinding its balance sheet, climate change impacts, a potential tech bubble, and trends in the US housing market.