Oh, there are going to be awesome consequences. The great and mighty Democratic Republic of (North) Korea has set off a small but nonetheless nuclear underground explosion. The world's statesmen and official spokespersons are wringing their hands in horror and outrage.

'Immense consequences', we hear. The balance of power in Asia has definitively shifted, we read. What, we may ask, is the big deal? A country whose pea-sized economy's size is less than most American cities, and a small fraction of the South Korean colossus, is threatening Asia, or even Northeast Asia?