Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
How to Get Rich in the MetaVerse - 20th Jan 21
Should you Buy Payment Disruptor Stocks in 2022? - 20th Jan 21
2022 the Year of Smart devices, Electric Vehicles, and AI Startups - 20th Jan 21
Oil Markets More Animated by Geopolitics, Supply, and Demand - 20th Jan 21
Fake It Till You Make It: Will Silver’s Motto Work on Gold? - 19th Jan 22
Crude Oil Smashing Stocks - 19th Jan 22
US Stagflation: The Global Risk of 2022 - 19th Jan 22
Stock Market Trend Forecast Early 2022 - Tech Growth Value Stocks Rotation - 18th Jan 22
Stock Market Sentiment Speaks: Are We Setting Up For A 'Mini-Crash'? - 18th Jan 22
Mobile Sports Betting is on a rise: Here’s why - 18th Jan 22
Exponential AI Stocks Mega-trend - 17th Jan 22
THE NEXT BITCOIN - 17th Jan 22
Gold Price Predictions for 2022 - 17th Jan 22
How Do Debt Relief Services Work To Reduce The Amount You Owe? - 17th Jan 22
RIVIAN IPO Illustrates We are in the Mother of all Stock Market Bubbles - 16th Jan 22
All Market Eyes on Copper - 16th Jan 22
The US Dollar Had a Slip-Up, but Gold Turned a Blind Eye to It - 16th Jan 22
A Stock Market Top for the Ages - 16th Jan 22
FREETRADE - Stock Investing Platform, the Good, Bad and Ugly Review, Free Shares, Cancelled Orders - 15th Jan 22
WD 14tb My Book External Drive Unboxing, Testing and Benchmark Performance Amazon Buy Review - 15th Jan 22
Toyland Ferris Wheel Birthday Fun at Gulliver's Rother Valley UK Theme Park 2022 - 15th Jan 22
What You Should Know About a TailoredPay High Risk Merchant Account - 15th Jan 22
Best Metaverse Tech Stocks Investing for 2022 and Beyond - 14th Jan 22
Gold Price Lagging Inflation - 14th Jan 22
Get Your Startup Idea Up And Running With These 7 Tips - 14th Jan 22
What Happens When Your Flight Gets Cancelled in the UK? - 14th Jan 22
How to Profit from 2022’s Biggest Trend Reversal - 11th Jan 22
Stock Market Sentiment Speaks: Are We Ready To Drop To 4400SPX? - 11th Jan 22
What's the Role of an Affiliate Marketer? - 11th Jan 22
Essential Things To Know Before You Set Up A Limited Liability Company - 11th Jan 22
Fiscal and Monetary Cliffs Have Arrived - 10th Jan 22
The Meteoric Rise of Investing in Trading Cards - 10th Jan 22
IBM The REAL Quantum Metaverse STOCK! - 9th Jan 22
WARNING Failing NVME2 M2 SSD Drives Can Prevent Systems From Booting - Corsair MP600 - 9th Jan 22
The Fed’s inflated cake and a ‘quant’ of history - 9th Jan 22
NVME M2 SSD FAILURE WARNING Signs - Corsair MP600 1tb Drive - 9th Jan 22
Meadowhall Sheffield Christmas Lights 2021 Shopping - Before the Switch on - 9th Jan 22
How Does Insurance Work In Europe? Find Out Here - 9th Jan 22
Effect of Deflation On The Gold Price - 7th Jan 22
Stock Market 2022 Requires Different Strategies For Traders/Investors - 7th Jan 22
Old Man Winter Will Stimulate Natural Gas and Heating Oil Demand - 7th Jan 22
Is The Lazy Stock Market Bull Strategy Worth Considering? - 7th Jan 22
What Elliott Waves Show for Asia Pacific Stock and Financial Markets 2022 - 6th Jan 2022
Why You Should Register Your Company - 6th Jan 2022
4 Ways to Invest in Silver for 2022 - 6th Jan 2022
UNITY (U) - Metaverse Stock Analysis Investing for 2022 and Beyond - 5th Jan 2022
Stock Market Staving Off Risk-Off - 5th Jan 2022
Gold and Silver Still Hungover After New Year’s Eve - 5th Jan 2022
S&P 500 In an Uncharted Territory, But Is Sky the Limit? - 5th Jan 2022

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

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