Echoes of 2000 crisis deep in America's partisan pathology



In what is a must-win state for candidate Mitt Romney, Matt McNair was concerned about his job security at a Home Depot in Jacksonville, Florida. He saw no reason to vote for the Republican presidential candidate. Why not continue on the same path? he asked, arguing that the economy was improving.

In Barack Obama's adopted home state, Paul Martin, a 38-year-old carpenter, would also be voting for the Democrat because he said he was a lot less for big business. He could not envision a Republican president helping people who fall through the social-services safety net.

Across the bar at Chicago's Billy Goat Tavern, Sal Annoreano, a construction worker, was going to vote Republican for one reason: the Democrats' stand on gun control. He did not want any more governmental interference of his right to bear arms.

Bonnie Williams, recently retired from a career with the New York Public Library, said she did not like either of the major party candidates and that the violence in the Middle East had heightened her concerns about US foreign policy and how the country defined its role in a changing world.

Mostly, though, she was concerned about the nature of politics and the big money it attracts.

"They were going to reform the system and replace the smoke-filled rooms," she said. "They did. It is now an open smoke-filled room."

As the pollsters and pundits are predicting a close vote tomorrow between Mr Obama and Mr Romney, the words of these four people echo in my mind. They were spoken to me 12 years ago during the race between the incumbent vice president, Al Gore, and the Republican challenger, George W Bush.

This year there will be no battle over hanging chads and indented dimples on ballots in Florida, and it is unlikely the contest will end up with the US supreme court casting the final vote on who will be the next president of America. But the big money is still there. The two candidates have spent tens of millions in the final days in a down-to-the-wire advertising blitz.

The smoke blowing continues.

The divide still lingers.

As the saying goes, the more things change, the more they stay the same. Most of the Red (Republican voting) states from 2000 will be Red again this year, and the same goes for the Blue (Democratic voting). Depending on which poll one believes, between four and 10 states are actually in play.

Much of the middle of America's political map tends to be a sea of red - in many parts more conservative, very predictable in which way it will vote. The upper north-east is mostly blue, but New Hampshire is a swing state, meaning it is not predictable, that it has a history of voting for presidential candidates from either party.

A recent Washington Post/ABC News poll points out that we could have a repeat of 2000, with the losing presidential candidate getting more of the popular vote than the next occupant of the White House.

In 2000, Mr Gore received 543,895 more votes than Mr Bush. But Mr Bush won the presidency by gaining 271 electoral votes - each state is given a number of electors depending on population - to Mr Gore's 266 with one elector abstaining.

Two hundred and seventy is the magic number. Get that, and nothing else matters. New Hampshire's four electoral votes could indeed make a difference.

As Larry Sabato, the director of the Center for Politics at the University of Virginia, said in an email: "We are certainly deeply divided again into Red and Blue states, just as in 2000. The election has been long over in 40 states. The presidency is being decided by 8-10 states. That's never healthy ...

"Everyone's nightmare is that November 6 turns into a deadlock requiring a 2000-style recount, or that we again have one candidate winning the popular vote while the other wins the Electoral College. That weakens a president, no question, and the country needs a vigorous presidency," Mr Sabato said.

Echoing Mr Sabato's thoughts, Mark Rozell, a professor of public policy at George Mason University in the Washington, DC suburbs said: "Like 2000, this year's election is projected to be extremely close. It may yet again come down to a single state, although we don't know which one right now. Most believe that Ohio will be the key state. What is remarkable is how closely divided the electorate remains, 12 years after the 'perfect tie' in 2000."

Twelve years ago, Lynn Bartels could not stomach that perfect tie.

She drove 682 kilometres from Columbus, Ohio, with her sister and niece to wave a sign in front of the Mr Gore's house in Washington, DC, telling "Al [to] keep fighting as long as it takes".

She was far from alone on that December day when the supreme court handed down its decision.

Parvene Hamzavi, then 23, whose father is Iranian and mother is American, stopped off on the way to work with a bag of campaign materials for demonstrators outside Mr Gore's residence.

Across town at the supreme court, a protester held up a sign saying: "Have a Merry Dictatorship, America."

To some, the memories of 2000 still sting. No matter how interesting it was to be a journalist writing about the election, no one wants history repeating itself in that manner.

No one wants the nightmare to return.

At a glance

Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.

 

Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year

 

Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month

 

Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30 

 

Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse

 

Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth

 

Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances

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Panipat

Director Ashutosh Gowariker

Produced Ashutosh Gowariker, Rohit Shelatkar, Reliance Entertainment

Cast Arjun Kapoor, Sanjay Dutt, Kriti Sanon, Mohnish Behl, Padmini Kolhapure, Zeenat Aman

Rating 3 /stars

Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EHakbah%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ENaif%20AbuSaida%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ESaudi%20Arabia%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E22%20%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24200%2C000%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3Epre-Series%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EGlobal%20Ventures%20and%20Aditum%20Investment%20Management%0D%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A
Results

6.30pm: Baniyas (PA) Group 2 Dh195,000 1,400m | Winner: ES Ajeeb, Sam Hitchcock (jockey), Ibrahim Aseel (trainer)

7.05pm: Maiden (TB) Dh165,000 1,400m | Winner: Al Shamkhah, Royston Ffrench, Sandeep Jadhav

7.40pm: Handicap (TB) Dh190,000 1,200m | Winner: Lavaspin, Richard Mullen, Satish Seemar

8.15pm: Maiden (TB) Dh165,000 1,200m | Winner: Kawasir, Dane O’Neill, Musabah Al Muhairi

8.50pm: Rated Conditions (TB) Dh240,000 1,600m | Winner: Cosmo Charlie, Pat Dobbs, Doug Watson

9.20pm: Handicap (TB) Dh165,000 1,400m | Winner: Bochart, Richard Mullen, Satish Seemar

10pm: Handicap (TB) Dh175,000 2,000m | Winner: Quartier Francais, Fernando Jara, Ali Rashid Al Raihe

 

The Kites

Romain Gary

Penguin Modern Classics

BORDERLANDS

Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis

Director: Eli Roth

Rating: 0/5

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

8 traditional Jamaican dishes to try at Kingston 21

  1. Trench Town Rock: Jamaican-style curry goat served in a pastry basket with a carrot and potato garnish
  2. Rock Steady Jerk Chicken: chicken marinated for 24 hours and slow-cooked on the grill
  3. Mento Oxtail: flavoured oxtail stewed for five hours with herbs
  4. Ackee and salt fish: the national dish of Jamaica makes for a hearty breakfast
  5. Jamaican porridge: another breakfast favourite, can be made with peanut, cornmeal, banana and plantain
  6. Jamaican beef patty: a pastry with ground beef filling
  7. Hellshire Pon di Beach: Fresh fish with pickles
  8. Out of Many: traditional sweet potato pudding
Yahya Al Ghassani's bio

Date of birth: April 18, 1998

Playing position: Winger

Clubs: 2015-2017 – Al Ahli Dubai; March-June 2018 – Paris FC; August – Al Wahda

In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

Tuesday's fixtures
Group A
Kyrgyzstan v Qatar, 5.45pm
Iran v Uzbekistan, 8pm
N Korea v UAE, 10.15pm
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Power: 712hp at 6,100rpm

Torque: 881Nm at 4,800rpm

Transmission: 8-speed auto

Fuel consumption: 19.6 l/100km

Price: Dh380,000

On sale: now 

 

 

 

The Perfect Couple

Starring: Nicole Kidman, Liev Schreiber, Jack Reynor

Creator: Jenna Lamia

Rating: 3/5