First of all, it doesn't matter whether there is a civil war there — that's a media-driven situation. What does matter is if the USA can control the situation in Iraq or whether the country is too far gone into the chaos zone.

If the Bush administration has failed there, here are the consequences for you:

One, Iran will increase its power and begin to dominate the world's oil flow. That means, if Iran tells Gulf Arab nations to charge $100 a barrel, they better do it or risk Iran undermining them with terrorism. And Saudi Arabia will be the No. 1 target. All Americans will be at Iran's mercy then when it comes to oil. Think about that.

No. 2, Al Qaeda would also benefit. It would proclaim a great victory over America and set up shop inside of Iraq, working out a lose agreement with Iran. Al Qaeda terrorists then would have another sanctuary, like Afghanistan before we took out the Taliban.

No. 3, no one could stop Iran from getting nukes because of the oil threat. So they develop doomsday weapons and give them to whomever.

So you can see that allowing Iraq to go under would be a catastrophe for the world.

But if the Iraqi people will not step up and fight for their freedom, there's little the USA can do. We can't stabilize the country without most Iraqis on our side. And right now, they are not on our side.

Therein lays the biggest foreign policy problem I have ever seen in my lifetime.

Back here, we have a press that is invested in seeing that President Bush is humiliated in Iraq. They may not be rooting for an American defeat, but most are certainly anti-war and anti-Bush.

And then there are those Americans who dislike the president so much they want the USA to lose?

(BEGIN VIDEO CLIP)

O'REILLY: Do you want America to win in Iraq?

ROSIE O'DONNELL, TALK SHOW PERSONALITY: I want America to be what the Founding Fathers wanted it to be, a democracy.

O'REILLY: So you don't want America to win there?

O'DONNELL: Where we the people...

BARBARA WALTERS, ABC ANCHOR: Don't put words in her mouth.

O'REILLY: She won't answer the question, Barbara. She won't answer the question.

(END VIDEO CLIP)

(BEGIN VIDEO CLIP)

O'REILLY: Do you want the United States to win in Iraq?

DAVID LETTERMAN, HOST, "THE LATE SHOW": First of all, I don't...

O'REILLY: It's an easy question. If you don't want the United States to win in Iraq...

LETTERMAN: It's not easy for me because I'm thoughtful.

(END VIDEO CLIP)

All right, so there you have it: A hostile American and world media, an American public that has lost faith in the war and some who are even rooting for a defeat, and then, the Iraqi people who will not step up and stop the madness they see every day.

God help us. And I mean that literally.

And that's The Memo.

Most Ridiculous Item of the Day

I want to thank everybody who has purchased "Culture Warrior." Broadway Books told me today they are now close to one million copies in print. And that is pretty scary, when you think about this cover being displayed in so many places. Remember, Letterman thought it was a fishing book.

Anyway, I'm fighting it out with Barack Obama and John Grisham for the No. 1 spot in the country. Currently, "Culture Warrior" is No. 3. I'm surprised about the senator's book, but Grisham we knew was going to do well.

Anyway, even if you don't want to buy "Culture Warrior," you should go to the book store and look at page 160. You'll get a good laugh out of that.

And if you want to buy the book, I'll sign it for you at the Barnes & Noble superstore in Clifton, New Jersey, this coming Saturday at noon. This is a ticketed event. Tickets are free. You can go to BillOReilly.com for details or at Barnes & Noble in Clifton.

Ridiculous? It will be if nobody shows up. Very lonely.

—You can catch Bill O'Reilly's "Talking Points Memo" and "Most Ridiculous Item" weeknights at 8 and 11 p.m. ET on the FOX News Channel and any time on foxnews.com/oreilly. Send your comments to: oreilly@foxnews.com