Barack Obama's victory is remark-able and inspiring. The US has elected its first black president - a man whose chances even of winning his party's nomination seemed slim two years ago. If there are moments when history pivots, this is one.

His triumph was no fluke. The presidency did not fall into Mr Obama's lap. He and his team planned and executed a flawless and audacious campaign, aimed not at sections of the electorate or regions of the country, but at the nation as a whole. In Hillary Clinton and John McCain, he had to defeat two formidable rivals. To do it, he rewrote the campaign textbook, raising astonishing sums in small donations. And his team's greatest asset was the candidate himself, a man whose calm and steady temperament made his message of change seem comforting. To challenge and reassure at the same time requires political talent of the highest order. Mr Obama is a once-in-a-generation politician.