Interesting column in the New York Times about the diminished presidential power that is a result of globalization. But this line jumped out at me:

And so perhaps Mr. Obama's presidency, as it reaches its midway point, is best understood not in isolation, but rather as part of a longer and still undefined political moment.

Wow, is it halftime already? Granted, I'm no math whiz but that would seem to imply a presidency of four years. Bold prediction! Though not entirely unreasonable...