The beginning of change?

Today saw the inauguration of President Barack Hussein Obama, a moment which will perhaps be seen as the beginning of a new era in global politics. However the changes were taking place even before President Obama had sealed his place in the White House.

The financial turmoil, which threatened the homes and savings of so many hard working individuals, had swept away the laissez faire philosophy which has come to dominate the politics of recent times. In the UK, the government has rightly stepped in to prevent the total collapse of the financial system and promised much stricter regulation of the markets in future.

The inauguration speech of President Obama promised much of the same. In calling for every American to play a part in the country's recovery, he recognises it is hard working employees in businesses such as General Motors, who build the foundations of the economy. Without those foundations the whole economy will fall and that is why it is so important to bring about a new era of bottom up economic prosperity. It is through measures such as the fiscal stimulus, tried here in Britain as well as elsewhere, which will hopefully see a swift end to this crisis.