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6:20 PM ET, August 8, 2011

memeorandum

 Top Items: 
The Politico:
Rick Perry to make 2012 intentions clear Saturday  —  Rick Perry intends to use a speech in South Carolina Saturday to make clear that he's running for president, POLITICO has learned.  —  According to two sources familiar with the plan, the Texas governor will remove any doubt …
RELATED:
Rasmussen Reports:
Iowa Caucus: Bachmann, Romney and Paul on Top
Michael O'Brien / The Hill:
Perry to visit NH and SC while presidential candidates gather in Iowa
Discussion: CNN, The Note, Pajamas Media and The Page
Aaron Blake / Washington Post:
Perry team raising money, supporter says announcement next week
Paul Krugman:
Aaauuuggghhh!  Market Commentary Edition  —  Carnage in stock markets as I write — and all of the headlines I see attribute it to S&P's downgrade.  —  They really are trying to make my head explode, aren't they?  —  Once again: S&P declared that US debt is no longer a safe investment …
RELATED:
JeeYeon Park / CNBC:
Stocks Off Lows, Dow Above 11,000; Vix Soars  —  Stocks pared some losses in heavy, choppy trading Monday but were still sharply lower as investors fled from risky assets following S&P's downgrade of U.S.'s credit rating last week in addition to ongoing uncertainty over the euro zone crisis.
Josh Marshall / Talking Points Memo:
Disconnect  —  This piece on CNN Money says that “market observers tried to say the downgrade by itself shouldn't matter — that it was expected and that the United States still has a strong credit rating ... But the market wasn't buying it.”  And then it goes on to note that investors are rushing to buy up US Treasuries.
Discussion: CNNMoney.com
New York Times:
Dow Plunges More Than 600 in Sell-Off
Ryan Lizza / New Yorker:
LEAP OF FAITH … - POLITICS - PROFILES - THE TALK OF THE TOWN - COMMENT - THIS WEEK'S ISSUE - THE FINANCIAL PAGE - NEWS DESK - THE POLITICAL SCENE
RELATED:
First Read / msnbc.com:
Bachmann attends church service denouncing homosexuality  —  WAUKEE, IA — Republican presidential candidate Michele Bachmann yesterday attended a church here in Iowa, where the pastor called homosexuality “immoral” and “unnatural,” and later showed a testimonial video from a man who claimed …
Economics of Contempt:
On S&P, Downgrades, and Idiots  —  This is not going to be one of those posts that laments S&P's decision to downgrade the US, but then says that S&P was probably right about our oh-so-dysfunctional political system.  —  No, S&P was flat-out wrong — no caveats.
RELATED:
Shira Ovide / Deal Journal:
Berkshire, Other Insurers Get ‘Negative’ Tag from S&P
Alicia M. Cohn / The Hill:
DNC chairwoman blames Tea Party ‘tyrants’ for US credit-rating downgrade
David Jackson / USA Today:
Obama: Downgrade should create ‘renewed sense of urgency’
Discussion: nation.foxnews.com and Doug Ross
The Daily Beast:
Hillary Told You So  —  As Democratic disgust with Obama's debt fumbling spreads, Clinton supporters recall her ‘3 a.m. phone call’ warnings—and angry, frustrated liberals are muttering that she should mount a 2012 challenge.  —  At a New York political event last week …
RELATED:
Steve Benen / Washington Monthly:
The Westen piece  —  It's not exactly a secret that there is …
Michelle Malkin:
The Conservative Crazy Eyes Cliche & Other Stupid MSM Photo Tricks  —  Sigh.  Seriously, Tina Brown?  —  Yes, I'm talking about you, Oxford University-educated Newsweek/Daily Beast editor Tina Brown.  —  You've resorted to recycling bottom-of-the-barrel moonbat photo cliches …
RELATED:
Tommy Christopher / Mediaite:
Does The Michele Bachmann Newsweek Cover Make Her ‘Look Crazy’?  —  Conservative media watchdog Newsbusters is helpfully defending GOP presidential hopeful Rep. Michele Bachmann's (R-MN) honor against those serial cover photo offenders at Newsweek, excoriating the magazine for using …
Discussion: Gawker
Ross Douthat / New York Times:
Waiting For A Landslide  —  In 1955, a political scientist named V. O. Key published an essay entitled “A Theory of Critical Elections.”  He argued that realignments in American politics are usually punctuated by transformative elections, in which the old order suddenly gives way and a new majority emerges in its place.
Jeffrey M. Jones / Gallup:
Obama Job Approval 50% or Higher in 16 States and D.C.  —  Idaho residents least approving, at 27%  —  PRINCETON, NJ — Residents of 16 states and the District of Columbia gave President Obama approval ratings of 50% or higher during the first half of 2011, led by the District of Columbia, Connecticut, Maryland, and Delaware.
Jennifer Rubin / Washington Post:
Obama's horrifyingly bad speech  —  He was a half hour late.  His head turned from side to side as if he were attending a tennis match.  He practically never looked in the camera, as if he were averting our gaze.  And those were the strong parts of President Obama's disastrous speech.
Discussion: Hot Air
Molly K. Hooper / The Hill:
House leaders end page program  —  House Speaker John Boehner (R-Ohio) and Minority Leader Nancy Pelosi (D-Calif.) announced they were ending the House page program.  —  As of Aug. 31, the program — which employs nearly 70 high school students to serve as messengers and couriers …
A.Killough / CNN:
White House announces waivers for No Child Left Behind law  —  WASHINGTON (CNN) - About half the schools in Tennessee didn't meet the annual yearly progress requirements of the No Child Left Behind law last year.  Tennessee is not alone.  —  Saying schools are struggling to meet …
Discussion: ABCNEWS
RELATED:
Molly O'Toole / Reuters:
Obama administration to offer No Child Left Behind waivers
New York Times:
A.I.G. Sues Bank of America Over Mortgage Bonds  —  The American International Group sued Bank of America on Monday over hundreds of mortgage-backed securities, adding to the surge of investors seeking compensation for the troubled mortgages that led to the financial crisis.
RELATED:
Reuters:
AIG sues BofA for $10 billion alleging “massive fraud”
Discussion: The Atlantic Online and Guardian
Paul Krugman:
It's a Growth Scare  —  FTalphaville has been saying this all day, and it's right.  The action in the markets looks nothing like worries about US solvency; it looks exactly like what you expect to see when markets suddenly realize that the economy's growth prospects look terrible.
Discussion: Grasping Reality …
Matthew Yglesias / ThinkProgress:
Poor People Own Appliances Because They're Cheap  —  My colleagues Melissa Boteach and Donna Cooper have a great piece on the Heritage Foundation's “poor people aren't actually poor because they own cheap electronics” theory of poverty.  This infographic nicely highlights the silliness …
Discussion: Eschaton
J. Bradford DeLong / Grasping Reality with Both Hands:
How Should Obama Answer the Stock Market's Wake-Up Call?  We-Need-Different-Cossacks Department  —  At least Bloomberg has taken down the “how long will the bull market last?” advertisement from the top of its S&P 500 screen...  Stock market down 17% in two and half weeks while the bond market …
Discussion: TalkLeft
David Axe / Danger Room:
Did a New Taliban Weapon Kill a Chopper Full of Navy SEALs?  —  Updated 8:36 a.m. EDT.  —  The passengers and crew of the twin-rotor CH-47 Chinook helicopter probably never saw the rocket hurtling towards them.  The explosion and fiery crash in Wardak province in eastern Afghanistan early …
 
 
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 More Items: 
Jeff Mapes / Oregonian:
Mark O. Hatfield, Oregon's first statesman, dies Sunday at 89
Discussion: The Huffington Post and The Hill
Adam Gabbatt / Guardian:
Fire crews battle blazes across London
The Note:
Donald Trump May Run for President After All
Discussion: Indecision Forever
William Glaberson / New York Times:
Dog Helps Young Rape Victim Testify
Discussion: Shakesville and New York Magazine
Justin Elliott / Salon:
The abortion that Mitt doesn't talk about anymore
Discussion: TBogg
 Earlier Items: 
Kevin Drum / Mother Jones:
The Price of Rural Life
Discussion: Washington Post and ThinkProgress
CNN:
Racially motivated attack on video
Emily Schultheis / Ben Smith's Blog:
Bachmann disavows labor bill, cites ‘bad information’
Discussion: Daily Kos
Matthew Yglesias / ThinkProgress:
The Unappeasable Financial Markets
Discussion: Modeled Behavior and Firedoglake
 

 
From Mediagazer:

Benjamin Mullin / New York Times:
Ben Sherwood and Joanna Coles take minority stakes in The Daily Beast; Sherwood will be CEO and publisher, and Coles will be chief creative and content officer

Max Tani / Semafor:
The Intercept is losing ~$300K/month and could run out of cash by May 2025, according to data from March; its CEO says the projection was a worst case scenario

Charlotte Klein / Vanity Fair:
A look at the negotiations to provide media access to Trump's trial; the state court system hired ex-journalist Al Baker to prepare for the historic trial

 
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