In the end, elections in the hemisphere will produce governments with which the US will share more in common than not. The trick will be to remain engaged with those governments as they tackle the difficult problems of addressing structural poverty, exclusion, and inequality with respect for democratic institutions and rights.

It hasn't happened often in recent years, but some good economic news is now coming out of the Caribbean.

Just as markets tend to overshoot, so does political analysis, and recent commentary on Latin America is exhibit A.

Latin American and Caribbean nations must realize that direct investment is the lifeblood of development, and that capital will always go where risk-adjusted rewards are believed to be greatest.

It may not be sexy or capture headlines, but steady and sustained engagement of the parties based on a hard-nosed analysis of mutual interests will, in the end, prove to be the most effective method for securing the democratic, economically developed hemisphere that leaders envisioned a decade ago.

Greater attention to energy issues in the hemisphere among both producing and consuming nations and a long-term regional strategy is required