Exit polls from Britain's parliamentary elections indicate that there was no clear winning party, which might result in Britain having a "hung parliament" in which no party would have a majority.

The outcome of the US debt limit crisis is far from clear, but it will inevitably frame the central issue in the 2012 campaign: should the US continue moving towards a more European set of public policies?

In deviating from the traditional theme of the Conservative Party, David Cameron has isolated upper-middle-class voters and generated underwhelming support from the electorate.

For domestic political reasons unrelated to trade, the US will be in no position to lead on international trade issues for some years. As the US is still the "indispensable nation" for WTO talks, this means 2011 is the last good opportunity for many years.

The exact dimensions of the Democrats' rout are not yet clear, but we do know that Americans who embraced "hope and change" two years ago are now rejecting the change they were given.

The revitalization of the political and think tank culture in Britain is vital or there is a risk of more of the same when David Cameron inevitably wins office next year.

The new bipartisan trade compromise for fast-track authority requires an excessive concession to labor interests.

Leadership, conviction, and courage have produced a backlash of defeatism, resignation, and ingratitude. The prime minister remains in good company.