I'm not holding my breath waiting for Obama to lead the US back towards a path of responsible economic policy, honourable foreign policy and non-suicidal environmental policy. It'll be nice if he doesn't actively break things, but if I had to bet money, I'd say that he's just Clinton, take two.

That said, Obama has two things Clinton and and Carter didn't: What looks for all the world like a massive victory, and what we already know will be an equally massive financial shitpile.

The former will give him the clout and the latter the political cover to enact real, serious change, if he wants to.

But as I said, I'm not holding my breath.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.