Ron-Paul! Ron-Paul! Ron-Paul!

UPDATED

Okay, now it all makes sense.

Downthread, I wondered what on earth Chuck Hagel was thinking, calling a press conference to announce that he had not decided to run for president.

Clearly, this is what was on his mind. He's stepping aside to avoid getting crushed by the Ron Paul juggernaut.

Ron Paul, a nine-term Texas congressman who describes himself as a lifelong libertarian, announced his candidacy for the Republican presidential nomination Monday.

Appearing on C-SPAN's "Washington Journal," Paul said he was at first reluctant to run, but that "a lot of people want to hear my message and I'm willing to deliver it."

Paul, who formed an exploratory committee in January, said he has raised more than $500,000 in the past month "with very little effort."

"So far, the amount of money raised isn't competitive with those establishment candidates who will raise $100 million, but with the Internet and the amount of money and enthusiasm, I think we can become very competitive," he said.

With a brand-name rock star like Ron Paul in the race, what chance does anybody else have?

UPDATE

Congressman Paul has a Myspace page.