And just like that we have a race for the Democratic nomination. Whereas just weeks ago all the pundits were giving the nomination to Howard Dean, today it’s four or five-man race. The two big stories should be John Kerry’s apparent resurrection and Dick Gephardt’s unbelievable disappearance. If Kerry goes on to win the Iowa caucus, it’ll signify an amazing comeback and blow this campaign wide open. The same is true for John Edwards, who, if he finishes second or better in Iowa and at least shows in New Hampshire, might be able to capture South Carolina and make a claim on the nomincation.

Gephardt’s only chance was Iowa. He’s fading fast. Unless his union support can REALLY put people in these meetings, he’s toast. It’s hard to believe that Gephardt of all people would fail in Missouri, but I guess nothing is for certain these days.

The problem for Dean now is one of expectations. He’s been the front-runner since August but has allowed the criticisms mounted by his rivals to drag him down, along with his own arrogrance, anger, and gaffes. Democrats have finally looked up and realized this guy really isn’t electable. He must finish in the top three in Iowa and win New Hampshire to have any chance down the road. If he’s third or worse in both these races, it might go down as the biggest meltdown by a candidate since Al Gore in 2000.

The other name not to forget is Wesley Clark, who might benefit from Dean’s slide more than anyone else. He also needs to do really well in New Hampshire to keep his momentum going.

Gephardt will be the next to drop out (unless Sharpton or Kucinich wake up and realize they aren’t really running), followed by Lieberman. That leaves Dean, Clark, Kerry, and Edwards for the long haul. This will be interesting.