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7:20 PM ET, August 8, 2011

memeorandum

 Top Items: 
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.
New York Times:
Dow Plunges More Than 600 in Sell-Off
Josh Marshall / Talking Points Memo:
Disconnect  —  This piece on CNN Money says that “market …
Discussion: CNNMoney.com
Ryan Vlastelica / Reuters:
Wall Street plummets as fear jumps on historic downgrade
The Politico:
Financial markets tumble worldwide after credit downgrade
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:
Danny Yadron / Washington Wire:
Romney on S&P Move: 'I Don't Think It's Simply the President's Fault'
Michael O'Brien / The Hill:
Perry to visit NH and SC while presidential candidates gather in Iowa
Discussion: The Note, CNN, Pajamas Media and The Page
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 …
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’?
Discussion: Gawker and Runnin' Scared
Caroline May / The Daily Caller:
The National Organization for Women defends Bachmann against Newsweek
Discussion: Washington Post and Weasel Zippers
Leary / nation.foxnews.com:
NOW Defends Bachmann Against Newsweek
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:
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 …
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.
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 …
RELATED:
Jennifer Steinhauer / The Caucus:
House Leaders to End Page Program
Discussion: Politics and AmSpecBlog
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
Nate Silver / FiveThirtyEight:
Why S.&P.'s Ratings Are Substandard and Porous  —  Five years ago, if you were an investor looking for guidance on which country's debt was the safest to invest in, Standard & Poor's ratings wouldn't have done much to help you navigate the headwinds of the financial crisis.
RELATED:
Mark Duell / Daily Mail:
Who ‘made $10bn on 10/1 bet that U.S. credit rating would be downgraded’?  —  A mystery investor or hedge fund reportedly made a bet of almost $1billion at odds of 10/1 last month that the U.S. would lose its AAA credit rating.  —  Now questions are being asked of whether the trader …
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 …
Cornelia Dean / New York Times:
Groups Call for Scientists to Engage the Body Politic  —  When asked to name a scientist, Americans are stumped.  In one recent survey, the top choice, at 47 percent, was Einstein, who has been dead since 1955, and the next, at 23 percent, was “I don't know.”
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
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: 
New York Times:
Hotel Housekeeper Sues Strauss-Kahn
Discussion: The Atlantic Online and Mogulite
Andrew C. McCarthy / National Review:
Those Colossal, Recklessly Irresponsible $2 Trillion Errors
Discussion: ZeroHedge and Pajamas Media
J. Bradford DeLong / Grasping Reality with Both Hands:
How Should Obama Answer the Stock Market's Wake-Up Call? We-Need-Different-Cossacks Department
Discussion: TalkLeft
Adam Gabbatt / Guardian:
London riots: the third night - live coverage
Discussion: Ben Smith's Blog and Colorlines
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
 Earlier Items: 
Justin Elliott / Salon:
The abortion that Mitt doesn't talk about anymore
Discussion: TBogg
Kevin Drum / Mother Jones:
The Price of Rural Life
Discussion: Washington Post and ThinkProgress
Emily Schultheis / Ben Smith's Blog:
Bachmann disavows labor bill, cites ‘bad information’
Discussion: ThinkProgress and Daily Kos
 

 
From Mediagazer:

Javier Espinoza / Financial Times:
The EU Commission fines Apple €1.8B for stifling competition from rival music streaming services, the EU's third-largest antitrust fine; Apple plans to appeal

Lucas Shaw / Bloomberg:
While HBO hit streaming DTC profitability under David Zaslav, via licensing to Netflix, slashing marketing, layoffs, and more, WBD's stock is down 25%+ YTD

Max Goldbart / Deadline:
Ofcom has “significant concerns about GB News' editorial control of its live output” after finding GB News in breach over Laurence Fox's misogynistic comments

 
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