Harry Dent , the economic demographer suggests the next 3 -4 yrs is going to be worse than past 4 yrs. He has been very accurate over past decade. Since even a liberal economist like Shiller [of Case-Shiller Index fame] is suggesting it may take 50 yrs for housing to regain its past status, Dents position seems pretty conservative.
It may be that Obama won a Pyrrhic victory. If he is faced with disaster over next four years and handles as he has done over past four years by ignoring it, his charisma won’t save him or Democrats.
Republicans will attempt to stop the slide and be denounced as obstructionists.