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What evidence is there that 'the world' ever had this faith? The reason so many people around the world hate American governments is because they are, every day, suffering the effects of American policy and have been for as long as American governments have existed; it's not something they have to read about. It is not irrational or inexplicable except within societies such as our own where people can use the phrase "restore the world's faith in their country" without everyone around them falling about laughing.
If the best we can hope for is that Obama is the new Jimmy Carter then we are truly fucked. If he is the new JFK then God help the Iranians and Palestinians. If his victory is only symbolic, as Thatcher's was, then what good will that do?
I would have voted for Obama but the tone of most of this celebration puzzles me.