The excellent site The Korea Liberator has a theory about "Why North Korea willfully pissed off the whole world by launching a rocket, that is" that sounds reasonable here:
The regime is in desperate shape and is about to make some kind of face-losing concession, such as asking for food aid or agreeing to give up some weapon or activity. Kim Jong Il needed a garish display of belligerence to save face — to tell his people that any aid is really an extortion payment, or that any deal was being forced on his enemies.
Read it all, and also I suggest looking through the whole site, as there are some excellent posts by written by people with a clue.
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