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Friday, March 26, 2010

Okay, WaPo. What Did Happen in Korean Waters Today?

March 26th, 2010

Today there appears to have been a maritime accident off the Korean Peninsula. Were not sure what else has occurred but we do know a South Korean Military vessel has sunk. We also know that something got everybody really wound up.

Early reports were dire and inflammatory but the WaPo seems not to archive and update as usefully as some news sites. That is to say, their earlier 'sky is falling' story has been replaced by a more even tempered piece at the exact same link.

Now the WaPo is quoting presidential spokeswoman Kim Eun-hye "It is premature at this stage to discuss the cause of the sinking"..."It has not been determined whether this incident is related to North Korea."

The North Koreans are threatening "unprecedented nuclear strikes" but, as the Jerusalem Post notes dryly, "The North routinely issues such warnings."

What we do know for sure is that american markets did stunningly well considering the news. CNN Money reports, "a conflict between North and South Korea may have caused some stock selling. Reports said an explosion tore a hole in a South Korean vessel in the disputed waters near North Korea, and South Korean officials were investigating whether it was an attack from the North.

Can you imagine the Friday market panic if we were still uncertain on health care reform?

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