"The Sinking of the Cheonan: Another Gulf of Tonkin Incident"
I hadn't really followed this story, but this is quite interesting and remarkably similar to the completely bogus Gulf of Tonkin incident that got us to escalate the Vietnam war.
While the South Korean government announced on May 20 that it has overwhelming evidence that one of its warships was sunk by a torpedo fired by a North Korean submarine, there is, in fact, no direct link between North Korea and the sunken ship. And it seems very unlikely that North Korea had anything to do with it.(thanks to AP for the link)