This came out about a week ago but I just got around to reading it. It's a fascinating reflection piece about the meaning of Obama's presidency specifically in the context of black politics and life, and African-American history in particular, sort of as a follow-up on the New Yorker profile. It's really worth reading — among other things, because it's Coates thinking out loud on some of this, speaking specifically about how the way he reckons the Obama presidency has shifted over time.
This symbolism has real meaning. What your country tells you it thinks of you has real meaning. If you see people around you acquiring college degrees and rising only to work as Pullman porters or in the Post Office, while in other communities men become rich, you take a certain message from this. If you see your father being ripped off in the sharecropping fields of Mississippi, you take a certain message about your own prospects. If the preponderance of men in your life are under the supervision of the state, you take some sense of how your country regards you. And if you see someone who is black like you, and was fatherless like you, and endures the barbs of American racism like you, and triumphs like no one you've ever known, that too sends a message.
And this messenger—who is Barack Obama—becomes something more to black people. He becomes a champion of black imagination, of black dreams and black possibilities. For liberals and Democrats, the prospect of an Obama defeat in 2012 meant the reversal of an agenda they favored. For black people, the fight was existential. "Please proceed, governor," will always mean something more to us, something akin to Ali's rope-a-dope, Louis over Schmeling, or Doug Williams over John Elway.