North Korea Parliament To Hold Rare Second Annual Session Monday, Major Announcement Expected

Tyler Durden's picture

Adding to the already tense and riskoffish environment heading into Monday, is the news from Reuters that North Korea's parliament will hold a "rare second annual session on Monday." While the reason for the extra session is unknown, "analysts said the North could use the extra session of the Supreme People's Assembly to make a major announcement on personnel changes or power succession, or to issue a hardline response to sanctions imposed by the South over the ship sinking." With China still pending in its firm response toward the recent North Korean provocation, will this be the enablement signal that allows Pyongyang to test just how much further it can push the international community? The quandary of dealing with Korea was best recapped by Robert Gates, who was earlier quoted by Yonhap: "As long as the regime doesn't care about what the outside world thinks
of it, as long as it doesn't care about the well-being of its people,
there is not a lot you can do about it, to be quite frank, unless you
are willing at some point to use military force
. And nobody wants to do that." The main problem with Gates' argument is that in attempting to explain the behaviour of an irrational actor he assumes North Korea will come to the rational conclusion. The world may know within 24 hours if he is in fact wrong.

More from Reuters:

Analysts said the North could use the extra session of the Supreme People's Assembly to make a major announcement on personnel changes or power succession, or to issue a hardline response to sanctions imposed by the South over the ship sinking.

Many analysts say neither side is ready to go to war but also see the possibility of more skirmishes at their disputed sea border off the west coast or along the heavily armed DMZ land buffer that could flare up into a major fight.

Some analysts said the parliamentary session could also mark the 10th anniversary of a summit between the two Koreas by formally overturning pledges of reconciliation made then.

North Korea has called Seoul's move to refer it to the Security Council an "unforgivable act of grave provocation."

The Supreme People's Assembly is the North's rubberstamp parliament, and approves new laws, personnel changes and economic policy initiatives as a formality after they have been formulated by the leadership.

Keep a close eye on the Kospi as the night progresses.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Fred Hayek's picture

China,

Put your dog on a leash.

Sincerely,

The World

Reductio ad Absurdum's picture

Tyler Durden, the quality of your site has been plummeting lately as you let it get overrun by islamofascists and conspiracy theorists. Those people have plenty of other sites to spew their bullshit on, you don't need to let them hijack your financial blog.

Ethics Gradient's picture

Taking a holistic approach to world issues helps to understand market behaviour.

Introducing some common sense and well thought out analysis to the confused is a positive and rare thing.

That said, I do agree that there's a fair amount of irritating poorly thought out comment.

On a seemingly unrelated note, after reading the site's disclosure policy, I think I'm going to have to watch Fight Club again....

akak's picture

Ooh, it's the Islamo-fascist boogeyman!  Quick, let's invade another raghead nation!  Yeah, imperialism to the rescue!

It looks like somebody's been overdosing on Bill Kristol and FOX "News" (sic).

Dingus's picture

Sure.  In the US of A you can say anything you want.

Clancy's picture

Unless it's about Israel.

 

lol that comment flagged as junk 9 times.  You may call NK a dog you may not call Israel a dog.  Israel better, Israel is special.

thisandthat's picture

Israel is retarded - you can't say anything about them or the Attention Deficit League will come after you.

assembler's picture

There is more than enough antisemitism to go around, thank you.

zen0's picture

With all due respect to Dr. Paul Craig Roberts, the recent U.S. decision to renege on the 60 year old treaty to not focus on Israeli nukes would suggest that the U.S. has slipped the leash, and is defecating on the flower beds of Mid east security.

merehuman's picture

Me XMan, sorry about the junking jerks who dont have the guts to say why.....  racial enmity and confusion. Seems Israel may have some control over USA policy.  Altho its true in practice there is fear of telling the truth in the USA. We have out sourced all our freedom and our rights were sold long ago.  Oh.. ahem whose slave are you ?

zen0's picture

Israeli concerns may have some influence over U.S. policy?

Do Saudi Arabian concerns have any influence over U.S. policy?

Why not complain about that?

An Empire has issues that are related to its subjects. They lobby, o.k.?

 

 

 

 

 

 

 

johngaltfla's picture

Unless of course NK and China are holding an assload of June SPY 90 puts. Then they may go for it.

Hedge Jobs's picture

rumour out of China is that US sank SK's ship as a false flag to bring heat on NK and provide support for US milatatary base on okinawa which many within Japan want closed down.

The US wouldnt do something like that would they?

thisandthat's picture

Of course not, baby - now go to sleep.

Reductio ad Absurdum's picture

You both deserve to live in the worker's paradise of North Korea. See, everything you've been told about your life is a lie--the cars you see on the roads, the skyscrapers in the cities, the fancy TV's and computers, the inexpensive food in the supermarkets, the lack of diseases like polio and smallpox, the freedom of information on the internet, it's all lies! North Korea is where all the really free people live. And once you see the standard of living they have, you'll realize how truly poor you are.

thisandthat's picture

In this case, the dog seems to have been South Korea - and they just pooped on the carpet with their phoney attack claim.

Shame is on the US for not taking them for a walk.

ciao's picture

North Korea is regarded in diplomatic circles globally as being rational, frighteningly rational in point of fact.   ZH could do with an experienced foil on foreign policy issues.  the Russians are looking at the wreck.  If the Russians look worried afterward then we can be worried that it has been a false flag attack.  If it were to be then North Korea acting rationally in response is the biggest danger to all.  Look what they did with nuke/missile tests and profileration last time the US broke the signed deal and didn't release their cash.

Mitchman's picture

Just another sleepy Sunday here in the Old West.

Turd Ferguson's picture

Gonna be a very very interesting week.

DeweyLeon's picture

Man, just think how much better our country would be if congress only met once a year!

Ivanovich's picture

They'd probably get more done!

buzzsaw99's picture

Of the usa I might say:

As long as the klepto-fascist regime doesn't care about what the outside world thinks of it, as long as it doesn't care about the well-being of its people, there is not a lot you can do about it, to be quite frank, unless you are willing at some point to have a guillotine party on the steps of crapitol hill.

sushi's picture

Change it to klepto-farcist regime and ding ding we have a winna!!

MichiganMilitiaMan's picture

Maybe the U.S. Congress and Senate could meet only one time per year for their usual rubberstamping activities, and two times per year for special announcments and proclamations.  It might be cheaper!

Ragnar D's picture

Couple this with Robert Heinlein's suggestion in "The Moon is a Harsh Mistress" to have a branch of government whose sole task it is to repeal bad laws.

 

Have them work 14 hour shifts, 6 days a week to balance Congress' single session.

StychoKiller's picture

The Ancient Greeks had a better method of dealing with this issue:

Anyone wishing to propose a new law had to do so while standing on a public
platform with a rope around their neck. If the law was passed, the rope was
removed. If the law was voted down, the platform was removed.

 

trillion_dollar_deficit's picture

If a war does break out and the west lays ruin to Pyongyang, then I hope they at least spare the Ryugyong Hotel. Would be an awesome place to visit after the country is democritized.

hack3434's picture

That building is a death trap... 

Ragnar D's picture

That's just your bourgeoisie bias.

How decadent of you to expect non-crooked elevators and load-bearing concrete!

DoChenRollingBearing's picture

Oh great.  Ayatollah Whackos and North Korean Whackos.  Who's next?  Hugo Chavez?

Who among you, my brethren, will defend the North Koreans as you have the Palestinian Gazans...?

Muir's picture

_

 

 

"Who's next?  Hugo Chavez?..."

 

___

Another War Will Be Required to Burn $13 Trillion of USA’s National Debt

http://english.pravda.ru/world/americas/04-06-2010/113670-usa_national_debt-0

 

USA has two options to save its economy: declare default or trigger off war

http://english.pravda.ru/world/americas/19-03-2009/107263-usa_economy_debt-0

_____

 

 fell better?

DoChenRollingBearing's picture

War?  I don't want any stinking war!

You need to read more than Pravda.  Russia is not our friend, even if Russia covers news our MSM will not.

ALL we have to do is credibly start spending less money!  It's obvious!  Government spending and debt is the root cause of our perilous situation (although, as I have pointed out in other threads, the Fed, Fan & Fred, GS, Wall St. fraudsters, etc. have all had a hand in this).

This can be done, but we will not likely do it because America's citizenry is not up to the task of electing real adults who will do what is necessary (spend less .gov money).

Ragnar D's picture

Apples and oranges.

 

Going after Korean terrorists isn't raciss because Asians aren't "real" minorities and therefore are not more equal than others.  They're more like Jews--open season.

 

The bright side is, we're allowed to make all the Asian jokes we want!

merehuman's picture

LOL  right, nothing makes sense anymore

akak's picture

"Going after Korean terrorists isn't raciss because Asians aren't "real" minorities and therefore are not more equal than others.  They're more like Jews--open season."

And by "Asians" you of course mean "Orientals".

Why not call a spade a spade?  What is with this pussyfooting, politically-correct "asian" thing lately?  Israelis and Arabs and Indians and Turks are "Asians" too, for God's sake!  Or is that too much to expect from geographically-challenged Americans ("New Worlders")?

 

Ragnar D's picture

Speaking of sarcasm-challenged:

"flag as junk (5)"

merehuman's picture

Dont forget our own domestic terrorists. We want favorable mention tho we have not yet begun to fight or have a brand name.

I need a airplane to run into the fed bldg. please donate  lol

see its funny because no one has the balls to get shot at and we all know it, so we laugh it off.  But soon it aint gonna be funny anymore.

Trimmed Hedge's picture

"Keep a close eye on the Kospi as the night progresses."

 

And keep $elling that fear, baby!

clickjaw's picture

Keep denying reality, baby!

Mr Lennon Hendrix's picture

Gates, you would love a war.  Shut up.