Has America Already Fallen From Global Leadership?

In at least some areas, at least, the answer is obviously yes:

At least two free nations are standing with the Iranian democracy protesters...
Yesterday, French President Nicolas Sarkozy branded Iran's election result a fraud and stated that, "The extent of the fraud is proportional to the violent reaction."
Today Canada joined him.
International reported, via Winston:

The Honourable Lawrence Cannon, Minister of Foreign Affairs, today made the following statement regarding the situation in Iran following the presidential election:

"Canada is deeply troubled by the current situation in Iran. The allegations of fraud in last week's presidential election are serious and need to be answered. The Iranian people deserves to have its voice heard, and we call for a fully transparent investigation into electoral discrepancies.

"The banning of opposition protests and security forces' heavy-handed treatment of demonstrators throughout the country are also matters of grave concern.

"We are further disturbed by reports of the unacceptable treatment of George McLeod, a Canadian journalist who was allegedly detained and beaten by Iranian authorities. We have called in Iran's Chargé d'Affaires in Ottawa to answer questions about the mistreatment of Mr. McLeod and to raise our concerns about the situation in Iran.

"The Government of Canada calls for freedom, democracy, human rights and the rule of law in Iran, and urges the country to fully respect all of its human rights obligations, both in law and in practice. We also continue to call on Iran to comply immediately with its legal obligations concerning its nuclear program.

Meanwhile, President Panty Waist insists, "It would not be helpful if the US was seen by the world as meddling."
...Sadly, the Iranian regime accused the US of meddling anyway.

Even sadder is the fact that the 'leader of the free world' is sitting idle while one of the biggest grass-roots freedom movements this world has seen in decades is being brutally squashed under the thumb of murderous Islamic dictators.

HOPE! CHANGE!

There's my two cents.