Everyone thought Reagan was going to be a horrible president. Everyone thought his military build up would lead to war. Everyone was wrong.
Everyone thinks Obama is going to be wonderful. I think everyone is wrong. I think we are doomed.
Most people are always wrong. They react emotionally and impulsively.
They follow trends, not think through the issues -- and the interaction between proposed plans and reality as we know it.
As a result, there's a small minority who have a clue and everyone else runs a dog and pony show while, behind the scenes, oligarchs steal everything they have.
Obama is an emotionally satisfying candidate. He runs on the idea of the people having more power -- who doesn't like the sound of that? Of Spreading the Wealth -- what's there not to like, on the surface? Of racial reconciliation, of being a nice guy, of being a righter of historical wrongs. All these things look good, sound good, etc. until you analyze their impact on reality.
Probably 5% of voters at most have that ability, and they aren't voting Democratic.