Leadership, and the lack of it

When Franklin K Roosevelt became President in the depression he said in his inaugural speech,
‘I shall ask the Congress for the one remaining instrument to meet the crisis—broad Executive power to wage a war against the emergency, as great as the power that would be given to me if we were in fact invaded by a foreign foe.’
The lack of clear leadership at the moment in the world,as Anatole Kaletsky points out in the Times today, is the worst element of this recession.