Washington had perhaps, the most festive gathering  and numerous in memory, as people cheerily waved flags in the bitter cold, others chanted “O-ba-ma” and “Yes we can”; many faces were covered in tears of joy. Millions more, around America and the world, watched the event live on television.

Mr Obama spoke with some eloquence, but used the occasion to warn repeatedly of difficult times ahead and the need for sacrifice. 

For  sure the markets got it fast !! At the same time as Obama was giving his speech, US stock markets were going South concerned about the Nasty Recession and Earnings season.