Breaking:  South Korea has confirmed the PRK (North Korea) has launched the missile, believed to be a Taepodong-2 multi-stage rocket.

UPDATE: Greg Palkot of FNC reporting the missile has already cleared Japanese airspace.  PRK is saying this is a satellite  – most believe it’s an ICBM test.  So far, it appears that it is much more successful than previous attempts.

UPDATE 2: CNN International reporting successful launch, confirmed from Japanese & South Korean governments.  Missile may be capable of reaching Alaska or Hawaii, but reliability of trajectory & accuracy is doubtful at best. 

UPDATE: Per Interfax, Russia confirms PRK missile launch. (H/T: Breitbart)

Final UPDATE: President Obama & the 3AM/Red Phone test

Best analysis, hands down is HERE.

—Media Lizzy