Following the Richard Nixon disgrace of a Presidency, a little known Georgia Govenor became the 39th U.S. President. Out of nowhere, Jimmy Carter came to power in 1976 with a mandate to reform and restore the country's reputation, and hope was seemingly restored.

Flash forward 4 years later. In 1980 the U.S. was in one of the worst recessions in history, interest rates were at 20%, and the economy barely had a heartbeat. Gold had its best bull market in history, hittting $850/ounce, for over a 1000% move higher (My father was smart enough to buy a bank CD that locked in a multi-year interest rate of 12% + but also bought gold right at the top, only to see it drop in price for the next 20 years).

Obama and Carter were two relative nobodies just 18 months before the election. Both were democrats, both faced a terrible economy, both were untested newcomers. Carter was overwhlemed by the challenges and couldn't leave Washington soon enough. Obama is smart...really smart and he seems ...