The Golden Report

16 DAYS UNTIL IOWA

BREAKING: North Korean Supreme Leader Kim Jon-Il has died.

The news broke just after 10pm Eastern Time and is developing at this hour. The death of one of the world’s most notorious and mysterious dictators becomes one of the largest news stories of the year 2011, a year that has also seen the death of Osama bin Laden, and Muhammar Kadaffi.

THE LATEST- via @BreakingNews’ @MPoppel

North Korean Gov’t says Kim Jong-il died ‘from a great mental and physical strain’ at 8.30 a.m. on Saturday

South Korean military declared emergency alert, says Yonhap News Agency

North Korean Gov’t says Kim Jong-il died on a train during a field guidance tour

Gov’t confirms Kim Jong-il had received medical treatment for ‘his cardiac and cerebrovascular diseases’ for a long period

North Korean gov’t says Kim Jong-il suffered from an ‘advanced acute myocardial infarction, complicated with serious heart shock’ on Saturday

North Korea says Kim Jong-il was given every possible first-aid measure, but died at 8.30 a.m. An autopsy took place on Sunday.

Yonhap: SKorea’s Cheong Wa Dae convenes emergency meeting of National Security Council over Kim’s death

FIRST THOUGHTS

The region is extremely unstable right now and it will take days or weeks to assess if a transfer of power is able to occur in North Korea, what this means for the known nuclear program in the country, relations with other nations and the United States, etc.

The death of Kim Jon Il apparently occurred nearly 48 hours ago. Did US intelligence have a heads-up as to Kim Jon Il’s death or are they first learning of the death through North Korean state news, with the rest of the world, tonight?

How smooth is a transition (Kim Jon Il’s successor is thought to be his youngest son)? Is one able to take place? Will South Korea, China, or the United States seek to intervene in any way?

In 2003, then President George W. Bush declared three nations in the world to be part of an AXIS OF EVIL- Iraq, Iran and North Korea. On this day, Sunday December 18, 2011, the final US troops withdrew from Iraq and we learned of the death of North Korean dictator Kim Jon Il.

THE MARKETS- Asian stock markets are significantly lower- between 1 and 2 percent- in the first hour after this news broke. South Korea stock markets are lower by about five percent.

TOP US STORY: Negotiations over the payroll tax cut extension, passed by the Senate Saturday morning, have apparently broken down in the House.

FROM THE WASHINGTON POST:

“In an appearance on NBC’s “Meet the Press,” Boehner said the short-term package, which was negotiated by Senate Majority Leader Harry Reid (D-Nev.) and Minority Leader Mitch McConnell (R-Ky.), should be re-worked by a conference committee in order to reach a longer deal that is acceptable to House Republicans.

Boehner’s comments came a day after the Senate agreed to a two-month extension in a payroll tax cut and unemployment benefits that will expire Jan. 1, top priorities for President Obama and congressional Democrats.

The White House and congressional Democrats responded that if the House does not proceed on the compromise that overwhelmingly passed the Senate, Republicans will be to blame.”

WHAT TO WATCH:

The House is back in session tomorrow, as negotiations will continue behind closed doors. They will only bring a bill to the floor if the House Republican majority believes they have the vote to pass it.

Will the House demand a conference with the Senate? Will Harry Reid go along? Today Reid indicated that he was not inclined to bring the Senate back into session this week.

Will the President step into negotiations? What is the White House position? [Very unclear at this point]

Will the entire negotiations break down and Congress recesses early to mid week without a deal, allowing a tax increase in two weeks?

CAMPAIGN 2012

BIG ENDORSEMENT- Illinois Sen. Mark Kirk will endorse Gov. Mitt Romney tomorrow

THE CANDIDATES- Mitt Romney, Newt Gingrich, Michele Bachmann and Rick Santorum participated in a tele-forum tonight sponsored by an Iowa tea party group.

TIGHTENING RACE- Latest Gallup National GOP Poll: Gingrich 28, Romney 24, Paul 10, Bachmann 7, Perry 6, Santorum 4, Huntsman 2

RECAPPING- the latest-from the New York Times (11:00pm ET)

SEOUL, South Korea — Kim Jong-il, the reclusive North Korean leader who has been battling ill health following a reported stroke in 2008, has died, the North’s official news media reported on Monday.

“Our great leader Comrade Kim Jong-il passed away at 8:30 a.m. on Dec. 17,” Korean Central TV reported.

Mr. Kim was 69 years old. Since he reportedly suffered a stroke in 2008, he has been grooming his third son, Kim Jong-un, believed to be in his late 20s, to be his successor, as his country struggled to fight widespread food shortages and international sanctions imposed for its nuclear weapons development.”

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