Franklin. D. Roosevelt said it clearly and starkly in his Inaugural Address in 1933. And rightly so, the United States was in the depth of a depression that was psychological and emotional as well as economic.  Today, we have avoided that fate (so far) and don’t speak of the fear that can paralyze a nation, as Roosevelt described it.But we are living in an age of vulnerability, and understandably so. Let us count some of the ways and whys.

There is the vulnerability driven by the weak economy, high unemployment and the sense of financial insecurity. The nation may have avoided a financial collapse, but the consequences of that near miss will be with us for years. Jobs will come back slowly, income levels will sink, or at best remain stable, and credit will be less of a tool for consumers.

There is the vulnerability fed by a fear of terrorism. The bomber who tried on Christmas Day to blow up a plane landing in Detroit was a jolting shock. It was a reminder not only that fanaticism and ingenuity can penetrate security, but also that there are many people in the world still determined to physically assault the United States and its people. For all the focus and effort on Afghanistan and Pakistan, the real front lines in the struggle against terrorism are the security measures at airports. These are more than necessary inconveniences; they are constant reminders of our individual and collective vulnerability.

There is the vulnerability caused by the undeniable shifts of power in the world. Globalization is about more than bringing people together or moving jobs abroad. We are living in the middle of an historic shift in the balance of economic (and hence, political) power from the developed world to the world of emerging and big markets led (but not limited to) by China and India. In the West, we understand what is happening and why, and we know there is not much that can be done about it except to adjust as best and as wisely as we can.

The economy and recent financial crisis, terrorism and the shifts in the balance of global power are all mega trends and events; any one of them would cause anxiety. Together, they create a profound sense of vulnerability for the individual, a family or a society. And this vulnerability is aggravated by the perceived lack of effective leadership from government. Partisan bickering in Washington is only the most visible manifestation of this.

In his 1933 Inaugural Address, President Roosevelt stated, “The people of the United States have not failed. In their need they have registered a mandate that they want direct, vigorous action. They have asked for discipline and direction under leadership. They have made me the present instrument of their wishes. In the spirit of the gift I take it.” Could President Obama say and do that today? Should he?

What do you think?