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Instead of embracing a sense of adventurousness, a readiness to break with the past so enthusiastically promoted during the campaign, Obama seems overcome with inhibitions and fears.
On a December day in 1932, with the country prostrate under the weight of the Great Depression, ex-president Calvin Coolidge -- who had presided over the reckless stock market boom of the Jazz Age Twenties (and famously declaimed that "the business of America is business") -- confided to a friend: "We are in a new era to which I do not belong."
The American way of life, including its economy of mass consumption, has depended on maintaining the country's global preeminence by any means possible: economic, political, and, in the end, military, says Steve Fraser .
Geography Area: 923.8 thousand sq. km. (356,700 sq. mi.) about the size of California, Nevada, and Arizona. Cities: Capital --Abuja (pop. est. 452,000).
And, how the NBER decided the U.S. is in recession
Critiquing President-elect Barack Obama's choice of economic team, The Guardian's Edward Hemore & LA Times-Washington Post's Steven Pearlstein say Mr Obama has already ruffled feathers with his new economic think-tank as they are Citi Chief Rubin's proteges and acolytes.
Whether it's workplace injuries, beer taxes or family leave, it's payback time for Obama supporters in the regulatory arena.
Yes, we mustn't expect too much. We all know it is the establishment that comes first in United States politics. Obama's presidency could easily be sabotaged by the powers that put him there.
The election of Barak Obama as president of the United States is monumental -- for Americans and for the world at large.
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