Now here's a nice bit of presumptuous silliness:

Mr Lundestad [secretary of the Norwegian Nobel Committee], however, hopes Americans take pride in the award as recognition of the much higher confidence in America in almost all parts of the world since Mr Obama was elected.

Imagine how the typical European would reäct to the claim that they should take pride when some European figure is given a pat on the back by a group of American conservatives or neo-conservatives.

If one is still trying to understand what the H_ll happened, one might find useful:

The short-term result of the Nobel Committee giving the Peace Prize to President Obama will probably be to increase his political capital in some amount (in a context where polls shows his domestic approval trending downward and at or below 50%). In the long-run, this award will prove damaging to popular American perceptions both of Europe and of the Democratic Party.

American perceptions of Europe will suffer, because the only distinctive objectives had by President Obama which enjoy majority support are objectives at which he will not succeed. And American perceptions of the Democratic Party will suffer because it will be seen not simply as seeking the wrong things but as doing so in alliance with alien forces.