As if there weren’t enough things to focus our market minds on and in the category of ‘what can they possibly be thinking,’ North Korea has to play the part of jilted kid desperate for attention. I can think of no other explanation for their unprovoked attack on an island just off South Korea’s coast. After studying finance and having political science thrust upon me over the past many years, I’m not ready for a course such as Introduction to Warfighting (an actual class at West Point, I checked). Maybe Kim Jong-IL was short the Kospi because the news hit the tape only minutes after the Kospi closed overnight. I digress to Europe where the Irish bailout has done nothing to calm things down as Spanish CDS is at a record high and their 10 yr yield is near the highest since July ’08. Greek CDS is firmly above 1000 and Portugal is under pressure as well.