Obama Preaches Hope in First Presidential Address

PR Log (Press Release) – Jan 22, 2009 – 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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