Best of the Week
Most Popular
1. Gold vs Cash in a Financial Crisis - Richard_Mills
2.Current Stock Market Rally Similarities To 1999 - Chris_Vermeulen
3.America See You On The Dark Side Of The Moon - Part2 - James_Quinn
4.Stock Market Trend Forecast Outlook for 2020 - Nadeem_Walayat
5.Who Said Stock Market Traders and Investor are Emotional Right Now? - Chris_Vermeulen
6.Gold Upswing and Lessons from Gold Tops - P_Radomski_CFA
7.Economic Tribulation is Coming, and Here is Why - Michael_Pento
8.What to Expect in Our Next Recession/Depression? - Raymond_Matison
9.The Fed Celebrates While Americans Drown in Financial Despair - John_Mauldin
10.Hi-yo Silver Away! - Richard_Mills
Last 7 days
Redefining Political Economy, Globalization & Business Models Consequent on Corona Virus Pandemics - 9th Apr 20
Plus500 Rreview - 9th Apr 20
Gold Price Closely Tracks Debt-to-GDP Ratio - 9th Apr 20
Gold, Silver and Rigged Market Socialism - 9th Apr 20
Going to School in Lockdown Britain, Dobcroft Sheffield - 9th Apr 20
Amazon Face Masks to Protect Against Covid-19 Viral Particles N95, FPP2, PM2.5, for Kids and Adults - 9th Apr 20
Is Natural Gas Price Ready For An April Rally? - 8th Apr 20
Market Predictions And The Business Implications - 8th Apr 20
When Will UK Coronavirus Crisis Imrpove - Infections and Deaths Trend Trajectory Analysis - 8th Apr 20
BBC Newsnight Focuses on Tory Leadership Whilst Boris Johnson Fights for his Life! - 8th Apr 20
The Big Short Guides us to What is Next for the Stock Market - 8th Apr 20
USD Index Sheds Light on the Upcoming Gold Move - 8th Apr 20
The Post CoronaVirus New Normal - 8th Apr 20
US Coronavirus Trend Trajectory Forecast Current State - 7th Apr 20
Boris Johnson Fighting for his Life In Intensive Care - UK Coronavirus Crisis - 7th Apr 20
Precious Metals Are About To Reset Like In 2008 – Gold Bugs, Buckle Up! - 7th Apr 20
Crude Oil's 2020 Crash: See What Helped (Some) Traders Pivot Just in Time - 7th Apr 20
Was the Fed Just Nationalized? - 7th Apr 20
Gold & Silver Mines Closed as Physical Silver Becomes “Most Undervalued Asset” - 7th Apr 20
US Coronavirus Blacktop Politics - 7th Apr 20
Coronavirus is America's "Pearl Harbour" Moment, There Will be a Reckoning With China - 6th Apr 20
Coronavirus Crisis Exposes Consequences of Fed Policy: Americans Have No Savings - 6th Apr 20
The Stock Market Is Not a Magic Money Machine - 6th Apr 20
Gold Stocks Crash, V-Bounce! - 6th Apr 20
How Can Writing Business Essay Help You In Business Analytics Skills - 6th Apr 20
PAYPAL WARNING - Your Stimulus Funds Are at Risk of Being Frozen for 6 Months! - 5th Apr 20
Stocks Hanging By the Fingernails? - 5th Apr 20
US Federal Budget Deficits: To $30 Trillion and Beyond - 5th Apr 20
The Lucrative Profitability Of A Move To Negative Interest Rates - Pandemic Edition - 5th Apr 20
Visa Denials: How to avoid it and what to do if your Visa is denied? - 5th Apr 20 - Uday Tank
WARNING PAYPAL Making a Grab for US $1200 Stimulus Payments - 4th Apr 20
US COVID-19 Death Toll Higher Than China’s Now. Will Gold Rally? - 4th Apr 20
Concerned That Asia Could Blow A Hole In Future Economic Recovery - 4th Apr 20
Bracing for Europe’s Coronavirus Contractionand Debt Crisis - 4th Apr 20
Stocks: When Grass Looks Greener on the Other Side of the ... Pond - 3rd Apr 20
How the C-Factor Could Decimate 2020 Global Gold and Silver Production - 3rd Apr 20
US Between Scylla and Charybdis Covid-19 - 3rd Apr 20
Covid19 What's Your Risk of Death Analysis by Age, Gender, Comorbidities and BMI - 3rd Apr 20
US Coronavirus Infections & Deaths Trend Trajectory - How Bad Will it Get? - 2nd Apr 20
Silver Looks Bearish Short to Medium Term - 2nd Apr 20
Mickey Fulp: 'Never Let a Good Crisis Go to Waste' - 2nd Apr 20
Stock Market Selloff Structure Explained – Fibonacci On Deck - 2nd Apr 20
COVID-19 FINANCIAL LOCKDOWN: Can PAYPAL Be Trusted to Handle US $1200 Stimulus Payments? - 2nd Apr 20
Day in the Life of Coronavirus LOCKDOWN - Sheffield, UK - 2nd Apr 20
UK Coronavirus Infections and Deaths Trend Trajectory - Deviation Against Forecast - 1st Apr 20
Huge Unemployment Is Coming. Will It Push Gold Prices Up? - 1st Apr 20
Gold Powerful 2008 Lessons That Apply Today - 1st Apr 20
US Coronavirus Infections and Deaths Projections Trend Forecast - Video - 1st Apr 20
From Global Virus Acceleration to Global Debt Explosion - 1st Apr 20
UK Supermarkets Coronavirus Panic Buying Before Lock Down - Tesco Empty Shelves - 1st Apr 20
Gold From a Failed Breakout to a Failed Breakdown - 1st Apr 20
P FOR PANDEMIC - 1st Apr 20
The Past Stock Market Week Was More Important Than You May Understand - 31st Mar 20
Coronavirus - No, You Do Not Hear the Fat Lady Warming Up - 31st Mar 20
Life, Religions, Business, Globalization & Information Technology In The Post-Corona Pandemics Age - 31st Mar 20
Three Charts Every Stock Market Trader and Investor Must See - 31st Mar 20
Coronavirus Stocks Bear Market Trend Forecast - Video - 31st Mar 20
Coronavirus Dow Stocks Bear Market Into End April 2020 Trend Forecast - 31st Mar 20
Is it better to have a loan or credit card debt when applying for a mortgage? - 31st Mar 20

Market Oracle FREE Newsletter


Washington’s Post-Election Gridlock and Africa

Politics / US Politics Nov 08, 2016 - 03:37 PM GMT

By: Dan_Steinbock

Politics After the bizarre 2016 election, Washington faces a slate of legal investigations, a massive political gridlock, the threat of new Cold Wars and possibly a contested election. What does it mean to Africa?

Last July, FBI Director James Comey closed the probe of Hillary Clinton’s emails and decided not to pursue charges, which resulted in broad criticism. Recently, Comey re-opened the case following a discovery of new emails. In addition to the Benghazi and FBI debacles, these efforts are likely to include some 50,000 emails from Wikileaks, particularly those of John Podesta, Clinton campaign manager and chair of the Center of American Progress (CAP).

The questions will center on Clinton’s private email server; her special assistant Huma Abedin and her ex-spouse; the pay-for-play allegations about her office and Bill Clintons’ speeches; the controversial Clinton Foundation and the alleged coordination between the Democratic National Committee, the Clinton campaign and various big money lobby groups (super PACs), including mega financiers, such as George Soros - and recruited groups to incite violence and chaos in Trump rallies.

These events were then recorded by mainstream media - from CNN to Google - which is now in trouble as well for alleged collusion with the Clinton campaign.

Washington’s gridlock

Republicans want investigations about the role of the State Department, the DOJ and the FBI, even President Obama, due to a “cover-up to protect Hillary Clinton,” as the Republican National Committee (RNC) chairman Reince Priebus says. Speaker Paul Ryan has promised “aggressive oversight work” of a “quid pro quo” deal between the FBI and the State Department over emails.

As chair of the House Oversight Committee, Jason Chaffetz is pushing for a slate of “new hearings.” House Republicans are demanding a special prosecutor to investigate the Clinton Foundation for possible conflicts of interest. There is enough evidence, says former New York City mayor and Trump supporter Rudy Giuliani, for a RICO case against the Foundation as a “racketeering enterprise.”

Currently, the Senate and the House are under Republican control. The Democrats have a good chance of taking over the Senate. If Congress remains divided after the election, Clinton must rely on limited legislation and executive action.

During her campaign, Hillary Clinton often said that she would block the US-led Trans-Pacific Partnership (TPP): “I oppose the TPP now, I’ll oppose it after the election, and I’ll oppose it as president.” However, Washington expected her to flip-flop after the elections and argue that the TPP is in the national interest because America could not alienate its TPP allies in Asia, particularly Japan and Vietnam.

In contrast, Trump would not only oppose the TPP but its US-EU counterpart, the Transatlantic Trade and Investment Partnership (TTIP) - and he would re-negotiate US relationships with NATO (North Atlantic Treaty Organization) and Asia.

What about Africa?

Meltdown of US-Africa trade and power initiatives

In May 2000, President Bill Clinton signed the African Growth and Opportunity Act (AGOA) into law. Its stated purpose was to assist the economies of sub-Saharan Africa and to improve economic relations between the US and the region. During her nine-country trip in Africa in 2012, Hillary Clinton said that AGOA showed “how America is working with our African partners-governments, the private sector and civil society.”

While Trump could well scrape the AGOA, along with a number of other US international agreements, others have criticized it as a one-sided agreement in which there was little African involvement in the preparation, despite the participation of some 40 African countries. Also, it has been “dominated by oil and raw materials.”

Moreover, during the two Bush terms, the AGOA trading volume rose from $28 billion in 2000 to a peak of $100 billion in 2008. As the Obama administration took over, that volume plunged to $36 billion in 2015. In 2008, African exports to the US still accounted for more than 80% of the total; today, barely 50%.

The story of “Power Africa” is even more instructive. In 2013, President Obama’s five-year US presidential initiative was designed as a multi-stakeholder partnership among the US, Tanzania, Kenya, Ethiopia, Ghana, Nigeria and Liberia, and the African private sector. The initiative was certainly needed. More than two-thirds of the population of sub-Saharan Africa is without electricity. Over 85% of those living in rural areas lack access. Yet, Obama’s $9.7 billion plan to double electricity access in the region has produced less than 5% of the new power generation it promised.

Even as the Power Africa plan dissolved, Hillary Clinton’s associates profited handsomely from the US Export-Import Bank’s financing of the world’s largest coal plans in South Africa. The debacle features a series of names - Clinton’s top aide Huma Abedin, former Secretary of State Madeleine Albright and her daughter, Howard Topaz (Clintons’ ‘tax advisor’), State Department official Richard Haass and so on - which are also featured in the current debacles and investigations, or both. Despite official stress on sustainability, Clinton’s State Department exported oil and gas fracking technologies to the rest of the world, while supporting coal in Africa.

There is a great gap between Senator Hillary Clinton’s statements against corruption and Secretary of State Clinton’s de facto policies in Africa. “Changes in policies conformed with the interests of Clinton Foundation large donors,” concludes Peter Schweizer in Clinton Cash (2015), which FBI reportedly has used as a road map to investigate the Foundation’s controversial money flows.

Yesterday’s neoconservatives, today’s liberal internationalists

Historically, when the White House has failed to united America through economic policy, defense has been the second-best option.

Clinton supports hawkish security policies advocated by both the Democratic ‘liberal internationalists’ and the Republican ‘neoconservatives.’ Last summer, the Center for a New American Security (CNAS) , a bipartisan successor of the neoconservatives’ New Project for the American Century a decade ago, published its report on “Extending American Power,” as a kind of a transition memo for Clinton.

Essentially, it advocates increasing use and threat of military force, which could result in an increase in Pentagon spending of up to $1 trillion over the next decade. The major CNAS donors feature the leading Pentagon contractors, including Lockheed Martin, Raytheon and Boeing, which also support Clinton’s campaign.

In contrast to Obama, Hillary Clinton has called for stepped-up military action to deter President al-Assad’s regime and Russian forces in Syria, whereas Obama’s advisers warn that “you can’t pretend you can go to war against Assad and not to go war against the Russians.” Yet, Clinton wants new sanctions against Russia, despite increasing nuclear threats.

It was this aggressive policy stance that also led Clinton to support a series of military interventions in the Middle East and Africa, as Secretary of State. Indeed, economist Jeffrey Sachs attributes destabilization in the Middle East and Africa in part to Clinton’s policies a. To Sachs, Clinton “is the candidate of the war machine.” She backed the regime change act in 1998 that paved way for the Iraq War in 2003, which she also supported. Her record extends from Libya to Syria, Ukraine and Georgia and to sub-Saharan Africa’s civil wars and famines.

What next?

For weeks,both Trump and Clinton have been building legal cases and armies of lawyers for the possibility of a contested election.

Whatever happens after the US 2016 election, America is about to move into a new era.

Internationally, the new United States will virtually ensure greater economic uncertainty and market volatility, political division and fragmentation, and growing strategic risks.

Dr. Dan Steinbock is an internationally recognised expert of the nascent multipolar world. He is the CEO of Difference Group and has served as Research Director at the India, China and America Institute (USA) and visiting fellow at the Shanghai Institutes for International Studies (China) and the EU Centre (Singapore). For more, see   

© 2016 Copyright Dan Steinbock - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

© 2005-2019 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules