As usual, he's brilliant.
What's come from Obama holding his tongue while Iranian demonstrators were being shot and from his recognizing the legitimacy of a thug regime illegitimately returned to power in a fraudulent election? Iran cracks down even more mercilessly on the opposition and races ahead with its nuclear program.
...What's come from the new-respect-for-Muslims Cairo speech and the unprecedented pressure on Israel for a total settlement freeze? "The settlement push backfired," reports The Washington Post, and Arab-Israeli peace prospects have "arguably regressed."
And what's come from Obama's single most dramatic foreign policy stroke -- the sudden abrogation of missile defense arrangements with Poland and the Czech Republic that Russia had virulently opposed? For the East Europeans it was a crushing blow, a gratuitous restoration of Russian influence over a region that thought it had regained independence under American protection.
Not only does this de-legitimize the Nobel, but it taints his prospects of making any meaningful foreign policy accomplishments for the rest of his term. With Afghanistan, Pakistan, and Iran on the table, this isn't especially reassuring.