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The only (relative) good news is that Gaddafi is an escaped mental patient, and is unlikely to have the strategic skills to stay in power for long.
Throwing money at mercenaries and going on TV to promise death and bloodshed aren't the acts of someone who's in control of the situation.
Gadaffi is a plotter, not a strategist. The advantage of being a plotter is that you can take your time over decisions. When you don't have that luxury, your decisions are unlikely to be effective, or rational.
Bet you a dollar to ten pounds Gadaffi is recapitulating the famous Hitler bunker video: sitting around pouring over a large scale map moving imaginary military units to impossible locations to carry-out absurd fantasies of military domination.
Thing is, it cost a lot of lives before Hitler ended it all with a bullet in his brain.
Lives will be lost as long as there are Libyans willing to travel down his merry path to Hell.
Until I actually looked at his military resources I thought the bastard had a chance of hanging on by using his military. Now I know: he doesn't. Ever since I learnt about confirmation bias I've started seeing it everywhere
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