The Kensington Review

9 June 2004

From the editor: It is obvious that pace of world events will accelerate in the next six months, and a weekly publication is too leisurely to be appropriate. Consequently, the Kensington Review will appear each Monday, Wednesday and Friday until further notice.

Latest Commentary:
UN Security Council Votes 15-0 for Iraq Resolution -- A year and a bit ago, a UN Security Council resolution on Iraq that passed 15-0 would have been a great achievement. The one passed yesterday was less impressive. In essence, it draws a line under what happened and offers everyone a fig leaf. In other words, the world has agreed to mutual surrender.

US to Withdraw 12,500 Troops from South Korea -- The law of unintended consequences continues to affect the Bush administration's foreign lack-of-policy. Over-stretched in Iraq, the Pentagon has said it wants to cut the US deployment in the Korean Peninsula by 12,500 soldiers, a third of the force there, and redeploy about 3,600 of those troops to Iraq. Oddly, this makes dealing with North Korea a bit easier.

Creditors Blackball Argentine Debt Plan -- Lord Keynes is alleged to have said, "If you owe the bank 100, you're in trouble. If you owe 100 million, the bank is in trouble." Argentina owes around $100 billion to bondholders worldwide, and the government is trying to convince them to accept a 75% write-off. Thus far, the creditors are against the plan, but they may change their tune. When the negotiating is done, the odds are it will be Argentina's offer or nothing.

Memo to TV Networks: Try Something Daring --Like the academic year, the TV season begins in September. It has been this way since Dumont was the fourth network. This year, Fox is going to launch six new shows in June. NBC is threatening the world's remaining superpower with four new reality shows and a new sitcom. The Warner Brothers Network (the appalling WB) has a few new titles. Well, if they're going to tamper with tradition, try something really radical -- quality.

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Copyright 2004 by The Kensington Review , J. Myhre, Editor. No part of this publication may be reproduced without written consent.