The crisis of the Obama Presidency at the end of the day is a crisis of governance. Mistake one, that has dogged Obama from the beginning is the fraud of bi-partisianism, the idea that he was a new politicians who would govern by compromising with the right and Republicans. That is his governing and reelection strategy. It failed horribly and now Obama cannot be reelected and should step down as the candidate of his party, like Lydon Johnson did in 1968.The problem is Obama underestimated the economic crisis. In times of crisis you cannot govern from the center, or in his case as a moderate conservative. He wanted to govern based on a alliance with the Republicans, a center right caolition. He should have moved to the left as the crisis deepened, instead he moved to the right. Even his unemployment bill, announced last week, is made up of Republican proposals. It is dead on arrival because Republicans will reject the bill, seeing blood and the defeat of Obama . But dangerously he has joined the Republicans in calling for severe cuts in Medicare and Medicaid. When one looks back over the last three years Obama mentioned poverty once in speeches. This , while poverty has reached historic levels and close to 50% among African Americans. This obviously was part of his positioning himself as not being too close to Black folk, since most of middle America (that is white folk) look on poverty as a black thing. (Surprise surprise , its now a white thing also). Obama has offered too little too late. The people have to look beyond Obama in our own self interest. We need a national conference of the people to work out a strategy to save the poor and working class and the nation from the possibility of a Great Depression and economic catastrophe. In the face of this a great mass movement centering on poverty and unemployment has to emerge. However, we have to be bold enough to acknowledge that capitalism has failed and it is not a system that can serve the interests of the people. We must look to a new system. I think it is socialism, based first upon the nationalization of the major banks and the freeing up of their wealth to serve the people.