Obama Preaches Hope in First Presidential Address

Barack Obama was inaugurated as the 44th President of the United States on January 20th. Speaking about many of the difficult challenges that must be faced, President Obama spoke to his nation not only about hope but also about the tough work that lies ahead.

“Today,” the new president stated, “I say to you that the challenges we face are real. They are serious and they are many. They will not be met easily or in a short span of time. But know this, America — they will be met.”

Much of President Obama’s discourse was directed at the current economic crisis that has spread from the US to affect much of the financial world. His speech was direct and in many ways, was a call to action for not only Americans but also for the rest of the world.

Rallying the crowd, he said, “The state of the economy calls for action, bold and swift, and we will act — not only to create new jobs, but to lay a new foundation for growth. We will build the roads and bridges, the electric grids and digital lines that feed our commerce and bind us together.”

An estimated 2 million onlookers endured the freezing temperatures of a January day in Washington to be part of the historical event. Not only is the US in the midst of a recession but it is also preoccupied with two wars and a ballooning deficit that is now predicted to surpass US$1.2 trillion. President Obama’s message was not only one of hope, but also transmitted his unwavering belief in the ability of his country to survive the crisis and emerge from it a stronger, better nation.

He stated, “Now, there are some who question the scale of our ambitions — who suggest that our system cannot tolerate too many big plans. Their memories are short. For they have forgotten what this country has already done; what free men and women can achieve when imagination is joined to common purpose, and necessity to courage.”

James Gonzalez, Market Analyst at Obelisk, sees the inauguration of Obama as a positive event for global financial markets. “With the change in administration, Americans are once again looking with renewed hope to the future. Politics aside, President Obama will hopefully translate into higher investor confidence, in both the US and the rest of the world.”

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Brazil’s President Looks to the Future

Brazilian president Lula Inácio da Silva recently gave the world an insight into his vision for the future in The Economist. President of one of the world’s most important emerging economies, Lula da Silva is also rapidly becoming one of its most influential leaders. When President Lula da Silva speaks, more and more people around the world are listening.

Lula da Silva was originally elected on his promise to eliminate hunger in Brazil. This fight remains central to his political character and as president, he has met with some notable success. During the 6 years of his administration, the number of poor in Brazil has been cut in half. Also, for the first time in history, the middle class is now the majority, with 52% of the population reaching this economic plateau.

Even though he understands that there is a long way to go in the battle against poverty, Lula da Silva believes that the changes made in his country have been important ones. “Brazil,” he states, “has never been in a better position to meet the challenges ahead and is fully aware of its growing global responsibilities.”

Brazil’s global responsibilities are something that Lula da Silva takes very seriously. Looking far beyond his borders, he is working to share Brazil’s knowledge with other emerging nations in an attempt to help them help themselves. Partnerships have been established between Brazil and other nations that want to develop ethanol and biodiesel programmes along the Brazilian model which does not create additional pressures on the food supply. A successful, low-cost Brazilian anti-AIDS programme is also being transferred to Mozambique where the disease is an epidemic.

But perhaps the greatest aim of Lula da Silva is to make the global decision-making process more inclusive and involve more countries, breaking away from the western leadership model. “Greater democracy in international decision-making is essential if truly effective answers to global challenges are to be found. The magnitude of the current financial crisis requires a vigorous response from the multilateral institutions,” Lula da Silva said.

To these ends, Lula da Silva is pressing for a greater role for his fellow BRIC countries (Russia, India and China) in the new world order and has also formed the Union of South American Nations (UNASUL) as a way to provide a coherent continental energy plan, defence council and development bank for the region.

Da Silva has heard the predictions that his country will be among the global superpowers in the coming decades; he already appears to be laying the groundwork for the future.

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