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tomtoolbag
Veteran Advisor

What ever happened to the N. Korea standoff?

  Since the whole uprising in the ME has come about, has anybody heard what became of the standoff with N. Korea and Kimmy? I have looked around and haven't found any article or analysis of the situation with them and S. Korea.

 

  Just wondered what the outcome or current situation was, if anybody else has come across any info.

19 Replies
GreaTOne_65
Senior Contributor

Re: What ever happened to the N. Korea standoff?

Good question, Tom. I guess Eygpt happened?

Hawken Cougar
Senior Contributor

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Canuck_2
Veteran Advisor

Re: What ever happened to the N. Korea standoff?

Still news out there but you may have to go outside your country to find it.

 

Talks between North and South Korea appeared to end in an impasse after South Korea ruled any further meetings until Pyongyang takes responsibility for its recent attacks on the South's armed forces.

08 Feb 2011

http://www.telegraph.co.uk/news/worldnews/asia/northkorea/

bruce MN
Veteran Advisor

Re: What ever happened to the N. Korea standoff?

Good observation. It's a short attention span out there.  Among those who are actually paying any attention. and that's not a very substantial portion fo the population.

 

One of the many sorry after affects of a false bubble driven sense of a general prosperity. And yet people view Reagan and Clinton as the 2 great post war Presidents, as it was they who essentially precipitiated those bubbles via driven policy.

 

Go figure.

BA Deere
Senior Contributor

Re: What ever happened to the N. Korea standoff?

Hey Tom, there`s a connection between Egypt and North Korea. Apparently N Korea sold missles and trained Egyptian pilots. Mubarak and the Jong Ill family have been chummy.

 http://www.csmonitor.com/World/Asia-Pacific/2011/0207/Why-Kim-Jong-il-wished-Egypt-s-Mubarak-a-Happy...

Red Steele
Senior Contributor

Globalization

isn't that what it all about? Reagan and Clinton broke down trade barriers and ushered in the balancing of the American standards with the worlds. Anyone could see that the net effect would be that foreign living standards would rise, and the blue collar worker in America would tread water, if lucky, or sink. And that is pretty much where we sit right now.......still waiting for the relative labor costs in America to sink low enough to encourage domestic production once again. And , believe it or not, it actually is happening. A few miles away, a machinery mfc plant is going to add 200 jobs, in southern Minnesota. These will move production from France, to the good old USA. Not $60 per hour union jobs, but $15 per hour jobs that are sorely needed.

 

What was the alternative to what Reagan and Clinton did? Could the USA have remained an island...a land of high costs and expected to mfc anything? Perhaps we could have tried tariffs to make foreign goods more expensive but outside of banning foreign trade, this never seems to work for long. Capital is fluid and will flow to where the opportunities for profit exist. Like it or not, we do live in an era of global economics.

 

The next question to ponder, is whether or not politics should have gone global, too. Do we actually want politicians financed by foreign interests, such as Barry O.?

bruce MN
Veteran Advisor

Re: Globalization

We've haven't had any high level politicans NOT finance and supported by foriegn interest for a long, long time Red. Stop singling out Obama. It comes with the job. And it won't stop. Can you honeslty say that there woudl be a Chamber backed candidate or even a Tea Party candidate who could get nomintated or elected who wouldn't be?

 

That AGCO deal is huge. I talked to someone from over that way who said what would probably happen is that those jobs would be filled by some of the top end employees moving over from other manufacturing firms in the area, therefore opening up jobs in them. He also said that the Toro plant 20 miles for there was going to build on and expand. Heaven only knows that is going to be good for the towns around that area.

 

As for the wage level, that only indicates what is ahead of us in getting the long term credit mess fixed. Business and residential credit was taken out at valuations and rates that counted on there being a bunch of 50-60K jobs everywhere. Outside of government, schools and medical there just plain aren't that man of them any more, anywhere, and debt is going to have to be adjusted so that those 25-30Ks...that's what 15/hr gets you.....can buy and pay for the housing inventory. And that inventory is going to become HUGE as the 70 an d80 somethings living 1 and 2 to a big house in towns and cities and on rural sites all over the place fail their death panel reviews.Smiley Very Happy    Couldn't resist that.

 

I'm not so sure that anybody in St. Paul or D.C. gets that, or if they do just can't bring themselves to discuss it out in the open. Large portoins of the country become various forms of ghettos if ridiculously marked up valuations on properties heavily encumbered by debt aren't addressed.

tomtoolbag
Veteran Advisor

Re: Globalization

  You two both have some valid points. Since Bush-the-first-drug-dealer got our government involved in the drug business, we would have to be VERY naive to think that some of that drug money didn't make it into campaigns, along with Clinton's too. Then, Bush-the-second-drug-dealer ramped up heroin production in Afghanistan, not to mention all the funny-money that gets laundered in Israel and passed around by AIPAC to "Israel friendly" and subservient politicos, along with the foreign "aid" to Israel then comes back around too.

 

  On another point though, those new jobs are at the $15 p/h level and the average wage p/h is just over $22. If you look at Germany with all their costly entitlements and high wages, they just last year lost the position of top exporter in the world to China, and only because of Germany's economic downturn, and held that position during China's boom years that were because of exports to us.

  It's going to be a whole different future where people are limited to how much they make versus what they can borrow. Bruce, I agree with you in that people can't afford mortgages at current house prices and the banks are stuck with houses that aren't market priced, and yet if the market rebounds and prices rise, the majority of citizens have burned through their savings and have no money for down payments for conventional lending terms. Not only that, at the 3-times income criteria, they still don't qualify for mortgages for those houses banks are sitting on.

  I thought all along that this is a big "reset" of assets that the majority of (the bottom 80% of our society) of society owns and bought to offset inflation. It's similar to how farmland got "revalued" in the 80s and all the gain from inflation gets flushed down the drain, with the obvious and ensuing selloff in those assets for cheap. It's a huge transfer of wealth along with a do-over in prices in inflationary terms, without the corresponding income levels, because they have just been driven down too or stayed the same. A generation's worth of inflation offsets has just been wiped out(between 6 and 7 trillion dollars of equity) and now it's the start again only with low wages. I think farmland is next.

  This whole thing was engineered, and I had some discussions recently with some pretty wise R E people and they confirmed it by saying that the banks made bets against the continual rise of housing, and banks don't make stupid bets unless they know that they will win, similar to betting against someone doing a trick pool shot. They also said that look who had the MBS dumped on (who bought them) as they were targeted for the destruction also, along with destroying the legal ownership documentation to sell the same "asset" more than once.

  I came across this video today, and it points out the multiple pieces of fraud throughout the whole mortgage mess. Here's the link:

http://market-ticker.org/akcs-www?post=179519

tomtoolbag
Veteran Advisor

Re: What ever happened to the N. Korea standoff?

  Thanks Canuck, I perused the usual sites about economics and foreign policy and didn't find anything. But, just as a baby stops crying when the mother picks it up, I wondered why N. Korea and Kim suddenly stopped acting belligerently, or what we gave them for them to suddenly change their behavior. I hope that the more than likely enticement isn't just another version of kicking the can down the road, and this leads to some changes in their government. It really makes me doubt it because of the fact that we haven't heard anything, but we do have to let them save face because of their government structure and control. Either way it's a long process and the changes will come in increments along with the likely IMF restrictions.