Thursday, March 11th, 2010

Daily Verdict: November 5th, 2008

Obama wins Presidency, Democrats win majorities
Winnng 349 electoral votes to McCain’s 163, Barack Obama handily passed the 270 threshold needed to secure the US Presidency. With two states still left to be counted and tabulated, Obama’s margin of victory could go even higher as the Democratic party had a good overall day. They also picked up 5 Senate seats to increase their majority to 56 seats in the US Senate (2 more races are still undecided) and also picked up a number of House seats leading with 253 seats to 172 with some races yet to be finalized. This was a good day for the Democracts but not all was rosy as many conservative measures, including the famed Proposition 8 in California, were voted by the electorate. It signals that Americans are ready to give the other guys a chance but now a carte blanche. There was no direct shift towards the left as the country decided to move more to the centre of the political spectrum.

Markets drop after reality sets in
After surging the previous day on expectations of an Obama victory, many world markets reacted today with dropping slightly as the reality of the economic crisis and global economic downturn set in again. The Dow is down 287 points, the FTSE100 down 108 points, CAC down 72 points and DAX also down 111 points. The IBEX is currently up only 17 points but the Nikkei is up a whopping 406 points. The markets are expected to recover in the upcoming days barring any unexpected circumstances as an Obama victory was preferred by Wall Street. Addditionally, oil was back hovering around 62 dollars per barrel.

Mexico’s interior minister killed in plane crash
Mexico’s interior miniser, Juan Camilo Mourino, died yesterday in a plane crash that also killed 12 others. The government jet crashed in the business district in Mexico city during rush hour and caused another 40 injuries. Mourino was Mexico’s most important official in the country’s battle against the drug trade. There is no official word about foul play in the incident but it would not come as a surprise as over 4 000 people, including police officers, have been killed this year due to organized crime.

Countries have a good reception of Obama’s victory
Many countries from around the world seemed to be pleased with the victory of the Democratic candidate. Many people from around the world acknowledged the historic nature of his victory as well as confirm his popularity even outside of the United States. Stories appeared throughout media outlets about people from Kenya, Obama’s native country, to China, Iran, Canada, and throughout Europe were moved by the results from across the Atlantic. Germany especially has shown an adoration of Obama and people seemed to be particulary pleased as Obama represents the next president they can fall in love with, as the country as often done with great American presidents.

Zambian electoral officials confirm election results
The Zambian electoral authority has officially rejected requests for a recount and thus confirmed the result in the country’s recent election where Rupiah Banda was elected over Sata by only 35 000 votes. Only a court of law can order a recount and the electoral authority can only perform a standard electoral verification.

Russia to place missiles by Poland
Russian president Medveded announced yesterday that Russia will place strategic missiles near Poland’s border in a direct response the American anti-missile system. In his first annual address to the nation, Medveded come across as very assertive and powerful as he proposed to extend the presidential term to 6 years, defended his country’s war with Georgia and attacked Washington directly. He blamed American foreign policy for the state of current world affairs and also threw blame on America’s financial instability for the current world financial crisis. All these assertions were meant to appeal to Russian nationalism that is driving Russia back towards its former superpower status.