Democratic nominee Barack Obama is the new president of the United States.It is a landmark victory as he will be their first ever African American president.He beat out his opposition ,republican nominee John McCain,to win the presidency on Tuesday.

There are of course mixed feelings about the outcome,with many average Americans concerned for their loved ones stationed in Iraq.Obama has said he wants to end the war once and for all and many are wondering what the policy changes may mean for those soldiers.

We can also not forget the racist incidents throughout his campaign.The most recent of which saw men arrested for conspiring to kill Pres. Obama.However the general mood seems jubilant and optimistic,with voters saying they were ready for change.

His economic advisers are well respected and are expected to be able to deal with the country’s current financial crisis. Investors are also attracted to Pres. Obama’s commitment to fiscal discipline,more stringent regulation and sorting out the budget and current account deficits.Economists are predicting immediate short term benefits for the markets but are unsure of the country’s long term financial future.Republican presidents are usually viewed as better for the markets because of their business friendly policies.However Democratic Presidents are viewed as being more popular for investors.

It will certainly be an interesting presidency ,especially from the perspective of having a Democratic president for the first time in years,and after all the dramatic events during the Bush administration.The war in Iraq,Afghanistan,the September 11 attacks and of course the current financial crisis the counrty faces.

Hopefully Pres. Obama will have a less controversial and dramatic presidency.