Before getting to world reaction, here is a link to a post by Jamie Foxer that I think just about sums up exactly how I feel about this election (Thanks for pointing it out to me, Cliff).
There is a good article at slate.msn.com describing european reaction to the re-election of Bush, ‘Brits to America: You’re Idiots! Well, 51 percent of you, anyway.’
Der Spiegel (a popular German news magazine) also has a very informative article (in English) summarizing German newspaper reaction, titled, ‘Grasping the Second Coming of Bush.’ Here is a short excerpt, I highly recommend reading the entire article:
One paper, the left-leaning Tageszeitung, seems to have already veered down the path of anti-Americanism. While their coverage of the elections is among the most comprehensive on Thursday, it publishes a piece by Austrian author Robert Misik that is almost celebratory in its condemnation. “This election is a unilateral action,” he writes. “The entire world hoped for a John F. Kerry victory, but the rednecks, the Bible-thumpers and other riff-raff from White America weren’t terribly interested by that.” He also points out that the majority of Americans have voted for “an intellectual midget, fanatic and dried-out alcoholic,” and warns his readers that Bush voters are “the dark underside of the American dream. We should get used to seeing the true face of America in people like Private Lynndie England.”