First of all I think it's encouraging that up to now the North has not engaged in major hostilities. If they held back until now, what could encourage them to strike now or later? (I'll answer my own question - - the weakness or perceived weakness of the U.S.A., drained by unwinnable wars in the Middle East and increasingly exposed as a paper tiger.) Assuming they're smart enough to figure out that the U.S.A. can still deliver an unsurvivable nuclear punch, would that stop them? (Answer: define "unsurvivable." Maybe they've already got a plan for surviving while delivering a few nuclear punches of their own.)
To my way of thinking, there are too many "maybes" involved in the decision to go to war - - maybe the U.S.A. can't or won't fight, maybe we'll get nuked or not. Fuck that. It just doesn't pay. If they were crazy enough to ignore the maybes they would have attacked by now.
Secondly - - and this is where the "madman" theory of underestimating your enemies gets you - - maybe Kim Jong Il isn't really a madman but a very shrewd and capable negotiator, looking to extract the maximum benefits from the USA in return for guarantees of future good behaviour.
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Third, the reason I'm not impressed with this "enmity of the peoples" line is that in the North, public opinion is just a manufactured product, to be turned off and on like a tap. There is no "enmity" towards the South apart from what the dictator chooses to whip up and when the dictator wants to whip up friendship, friendship is whipped up. It's like Orwell's 1984, when the TV announces, "Oceania was at war with Eastasia. Oceania had always been at war with Eastasia" when just a few days ago, Oceania had been at war "forever" with Eurasia. The people of North Korea will know what the government of North Korea wants them to know (and they're not all that much different from the way information is rationed out in the so-called "free world") and they'll get whatever the policy-makers think they need to get.
I wouldn't bet my life on any of this, though. There is a possibility of war, I just think there's a greater possibility there won't be a war.