Once again, North Korea has deployed their “War is Peace” strategy like clockwork. Every time the dystopian country runs low on cash or resources, they launch some missile, threaten some Super Power, or do something threatening to extort the goods it needs to keep the people from revolting against their dictators.
Now, “South Korea (EWY) scrambled fighter jets and returned fire after North Korea lobbed dozens of shells at Yeonpyeong island.” As if we didn’t have enough crap to worry about with Ireland dragging the European debt crisis back into the headlines, Kim Jong-il is clearly creating a cancer for one of the lonely strong regions in the world: Asia.
Although it’s too early to tell whether this attack has legs, we can’t dismiss this as another gimmick because South Korean soldiers were killed. The people of South Korea could easily grasp onto this and escalate the tension. Maybe China (FXI) will finally step up and end this extortion business model once and for all. Only time will tell.
Until then, North Korea will be stuck in 1984 …