Jeremy T. Ringfield's Blog, page 304

November 6, 2024

Global leaders congratulate Trump, but his victory looks set to roil the world — again

By Jill Lawless, Associated Press 

LONDON (AP) — The verdict of U.S. voters was more decisive than most pundits and analysts had predicted. Now the world waits to see whether the election of Donald Trump as president is as destabilizing many American allies fear.

Trump secured victory Wednesday after surpassing the 270 electoral college votes needed to win. In a victory speech before the official declaration, he vowed to “put our country first” and bring about a “golden age” for America.

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Trump’s first term saw him insult and alienate longstanding American allies. His return to the White House, four years after losing office to President Joe Biden, has huge consequences for everything from global trade to climate change to multiple crises and conflicts around the world.

Trump has pledged to ramp up a tariff feud with China, the United States’ growing economic and strategic rival. In the Middle East, Trump has pledged, without saying how, to end the conflicts between Israel, Hamas and Hezbollah. He has also vowed to end the Russia-Ukraine war within 24 hours of taking office – something Ukraine and its supporters fear would be on terms favorable to Moscow.

Here’s how leaders and others around the world are reacting:

ISRAEL’S PRIME MINISTER BENJAMIN NETANYAHU: “Congratulations on history’s greatest comeback! Your historic return to the White House offers a new beginning for America and a powerful recommitment to the great alliance between Israel and America. This is a huge victory!”

Netanyahu and Trump had a tight relationship during the former president’s first term, but the ties soured when Netanyahu congratulated President Joe Biden for winning in 2020. During his first term, Trump pushed to remake the Middle East by reconciling Israel and Saudi Arabia, and all eyes now are on how he intervenes to the region’s current conflicts.

UKRAINIAN PRESIDENT VOLODYMYR ZELENSKYY: “I appreciate President Trump’s commitment to the ‘peace through strength’ approach in global affairs. This is exactly the principle that can practically bring just peace in Ukraine closer. I am hopeful that we will put it into action together. We look forward to an era of a strong United States of America under President Trump’s decisive leadership.”

The future of U.S. support for Ukraine’s fight against Russian invasion is one of the biggest unknowns about Trump’s foreign policy.

HUNGARIAN PRIME MINISTER VIKTOR ORBAN: “They threatened him with prison, they took his property, they wanted to kill him … and he still won”

Hungary’s nationalist leader, one of Trump’s most ardent foreign supporters, welcomed a result he said would have a transformative effect on the world and bring an end to the war in Ukraine. “We have many plans that we can execute in the coming year with President Donald Trump,” said Orbán, who on Thursday will hold a summit in Budapest for some 50 other European leaders – many of whom feel much more apprehensive about the impact of a second Trump presidency on Europe’s economy and security.

NATO SECRETARY-GENERAL MARK RUTTE: “We face a growing number of challenges globally, from a more aggressive Russia, to terrorism, to strategic competition with China, as well the increasing alignment of China, Russia, North Korea and Iran. Working together through NATO helps to deter aggression, protect our collective security, and support our economies.”

Trump was a strong critic of the Atlantic military alliance during his first term, accusing its other members of failing to pull their weight. Rutte praised Trump for his work persuading member states to ramp up defense spending, saying NATO was now “stronger, larger, and more united.”

Military analyst Phillips O’Brien, professor of strategic studies at the University of St Andrews, said it’s not just NATO. The United States’ other allies in the Indo-Pacific, including Japan, South Korea, Taiwan and even Australia, “can no longer look for the U.S.A. to be a reliable partner in defense,” he said.

EUROPEAN COMMISSION PRESIDENT URSULA VON DER LEYEN: “I warmly congratulate Donald J. Trump. The EU and the U.S. are more than just allies. We are bound by a true partnership between our people, uniting 800 million citizens. Let us work together on a transatlantic partnership that continues to deliver for our citizens.”

European leaders are keen to stress that the trans-Atlantic relationship transcends individual politicians, but Trump’s protectionist economic leanings are causing concern. During his last term he slapped tariffs on European steel and aluminum, roiling the bloc’s economy.

BRITISH PRIME MINISTER KEIR STARMER: “Congratulations President-elect Trump on your historic election victory. I look forward to working with you in the years ahead. As the closest of allies, we stand shoulder to shoulder in defense of our shared values of freedom, democracy and enterprise.”

Like governments of U.S. allies around the world, Starmer’s center-left administration has worked hard to forge ties with Trump and his team. Starmer had dinner with Trump at Trump Tower in September, where, U.K. officials say, they found common ground over Starmer’s strong law-and-order as a former chief prosecutor, and the lefty size of his parliamentary majority.

FRENCH PRESIDENT EMMANUEL MACRON: “Congratulations, President (at)realDonaldTrump. Ready to work together as we did for four years. With your convictions and mine. With respect and ambition. For more peace and prosperity.”

GERMAN CHANCELLOR OLAF SCHOLZ: “I congratulate Donald Trump on his election as U.S. President. For a long time, Germany and the US have been working together successfully promoting prosperity and freedom on both sides of the Atlantic. We will continue to do so for the wellbeing of our citizens.”

Amid the congratulations. France and Germany arranged a last-minute meeting of their defense ministers on Wednesday to discuss the results of the U.S. elections and its implications for Ukraine and European defense.

ITALIAN PREMIER GIORGIA MELONI: “Italy and the United States are sister nations, linked by an unshakeable alliance, common values and a historic friendship. It is a strategic bond, which I am sure we will now strengthen even more.”

More a natural ally of Trump than many European leaders, Meloni in 2022 became the head of Italy’s first far-right-led government since World War II. She has forged alliances with other right-wing leaders in Europe and has made a mark cracking down on migration.

DA WEI, director of the Center for International Security and Strategy at Tsinghua University in Beijing: “It is not all dark, but there are more challenges than opportunities. We are clear about the challenges. As for opportunities, we are yet to see them clearly.”

There was no immediate reaction from the Chinese government to Trump’s victory, but analysts were pessimistic, citing the likelihood of escalating tariffs and an intensifying confrontation over Taiwan.

INDIAN PRIME MINISTER NARENDRA MODI: “Heartiest congratulations my friend (at)realDonaldTrump on your historic election victory. … Together, let’s work for the betterment of our people and to promote global peace, stability and prosperity.”

While U.S.-India ties grew under former Biden, the conservative Hindu nationalist leader Modi was also close to Trump, who received an adulatory reception when he visited India in 2020 as more than 100,000 people packed into a cricket stadium to see him

KREMLIN SPOKESMAN DMITRY PESKOV: “Let’s not forget that we are talking about the unfriendly country that is both directly and indirectly involved in a war against our state.”

No congratulations were forthcoming from Moscow, where President Vladimir Putin’s spokesman, Peskov, declared that Russia-U.S. relations were at the “lowest point in history.”

Associated Press writers around the world contributed to this story.

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Published on November 06, 2024 02:59

Iran’s currency falls to an all-time low as Trump clinches the US presidency

By AMIR VAHDAT and NASSER KARIMI, Associated Press

TEHRAN, Iran (AP) — Iran’s currency fell on Wednesday to an all-time low as former President Donald Trump clinches the U.S. presidency again, signaling new challenges ahead for Tehran as it remains locked in the wars raging in the Middle East.

The rial traded at 703,000 rials to the dollar, traders in Tehran said. The rate could still change throughout the day. Iran’s Central Bank could flood the market with more hard currencies as an attempt to improve the rate, as it has done in the past.

The slide comes as the rial already faces considerable woes over its sharp slide in value — and as the mood on the streets of Tehran among some darkened.

“One-hundred percent he will intensify the sanctions,” said Amir Aghaeian, a 22-year-old student. “Things that are not in our favor will be worse. Our economy and social situation will surely get worse.”

He added: “I feel the country is going to blow up.”

In 2015, at the time of Iran’s nuclear deal with world powers, the rial was at 32,000 to $1. On July 30, the day that Iran’s reformist President Masoud Pezeshkian was sworn in and started his term, the rate was 584,000 to $1.

Trump unilaterally withdrew America from the accord in 2018, sparking years of tensions between the countries that persist today.

Iran’s economy has struggled for years under crippling international sanctions over its rapidly advancing nuclear program, which now enriches uranium at near weapons-grade levels.

Pezeshkian, elected after a helicopter crash killed hard-line President Ebrahim Raisi in May, came to power on a promise to reach a deal to ease Western sanctions.

However, Iran’s government has for weeks been trying to downplay the effect on Tehran of whoever won Tuesday’s election in the United States. That stance continued on Wednesday with a brief comment from Fatemeh Mohajerani, a spokeswoman for Pezeshkian’s administration.

”The election of the U.S. president doesn’t have anything specifically to do with us,” she said. “The major policies of America and the Islamic Republic are fixed, and they won’t heavily change by people replacing others. We have already made necessary preparations in advance.”

But tensions remain high between the nations, 45 years after the 1979 U.S. Embassy takeover and 444-day hostage crisis that followed.

Iran remains locked in the Mideast wars roiling the region, with its allies battered — militant groups and fighters of its self-described “Axis of Resistance,” including the militant Palestinian Hamas, Lebanon’s Hezbollah and Yemen’s Houthi rebels.

Israel is pressing its war in the Gaza Strip targeting Hamas and its invasion of Lebanon amid devastating attacks against Hezbollah. At the same time, Iran still appears to be assessing damage from Israel’s strikes on the Islamic Republic on Oct. 26 in response to two Iranian ballistic missile attacks.

Iran has threatened to retaliate against Israel — where U.S. troops now man a missile defense battery.

Mahmoud Parvari, a 71-year-old taxi driver in Tehran, did not mince his words when discussing Trump.

“I feel like I’m seeing the devil,” he said. “He looks like Satan, his eyes are like Satan and his behavior is like a mad man.”

But another taxi driver, who only gave his last name as Hosseini, offered a more pragmatic view.

“If it helps my country I would definitely” make a deal with Trump, he said. “It doesn’t matter if it’s Trump or anyone else. After all he is a human being.”

Associated Press writer Jon Gambrell in Dubai, United Arab Emirates, contributed to this report.

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Published on November 06, 2024 02:27

PHOTOS: The world watches as US election results trickle in

From coast to coast, Americans watched the results of a pivotal election Tuesday for the next president of the United States with a mix of tension, elation, relief and resignation as the votes were counted.

The race pitted Vice President Kamala Harris against former President Donald Trump.

Young and old mingled in crowds in public spaces, such as Times Square in New York City and college campuses, seeking out communities of friends to share the night and the roller coaster of emotions as the votes were tallied.

Others sought solitude or quieter spaces, such as a darkened beach or the end of a tavern bar, where the glow of hand-held devices or neon lights illuminated the results as they trickled in.

Some prayed. Some rejoiced.

And the world watched, too. From Taiwan to Jerusalem to India and beyond, many around the globe waited for the outcome of an election and wondered just how it would affect their lives in the coming days, months and years.

Lawson Beard, who said he voted for Democratic presidential nominee Vice President Kamala Harris and is anxious about the election results, watches coverageLawson Beard, who said he voted for Democratic presidential nominee Vice President Kamala Harris and is anxious about the election results, watches coverage at Comet Tavern on Election Day, Tuesday, Nov. 5, 2024, in Seattle. (AP Photo/Lindsey Wasson)Pim Moynihan, of San Diego, watches election results on her phone as she lays on a wall along Mission BeachPim Moynihan, of San Diego, watches election results on her phone as she lays on a wall along Mission Beach on Election Day, Tuesday, Nov. 5, 2024, in San Diego. (AP Photo/Gregory Bull)Students and staff watch early returns during an election night watch partyStudents and staff watch early returns during an election night watch party at the University of Detroit Mercy, Tuesday, Nov. 5, 2024, in Detroit. (AP Photo/Charlie Neibergall)Lisa Matassa of Nashville watches results during a watch party for Republican Presidential nominee former President Donald TrumpLisa Matassa of Nashville watches results during a watch party for Republican Presidential nominee former President Donald Trump at the Palm Beach County Convention Center during an election night watch party, Tuesday, Nov. 5, 2024, in West Palm Beach, Fla. (AP Photo/Lynne Sladky)A young girl holds a A young girl holds a “Black Voters for Harris-Walz” sign outside of Democratic presidential nominee Vice President Kamala Harris’ election night watch party at Howard University, Tuesday, Nov. 5, 2024, in Washington. (AP Photo/Terrance Williams)Howard University students watch live election results during a watch party near an election night event for Democratic presidential nominee Vice President Kamala Harris Howard University students watch live election results during a watch party near an election night event for Democratic presidential nominee Vice President Kamala Harris at Howard University in Washington, Tuesday, Nov. 5, 2024. (AP Photo/Nathan Howard)Supporters watch as results come in at an election night campaign watch partSupporters watch as results come in at an election night campaign watch party for Democratic presidential nominee Vice President Kamala Harris, Tuesday, Nov. 5, 2024, on the campus of Howard University in Washington. (AP Photo/Susan Walsh)Mike and Dolly Rump watch election results at an election night campaign watch partMike and Dolly Rump of Madison, Fla., watch election results at an election night campaign watch party for Republican presidential nominee former President Donald Trump Tuesday, Nov. 5, 2024, in West Palm Beach, Fla.(AP Photo/Marta Lavandier)Children watch results come in on a television screen at the DFL election night partyChildren watch results come in on a television screen at the DFL election night party, Tuesday, Nov. 5, 2024, in St. Paul, Minn. (AP Photo/Abbie Parr)Supporters of Democratic presidential nominee Vice President Kamala Harris look at election results Supporters of Democratic presidential nominee Vice President Kamala Harris look at election results during an election night campaign watch party Tuesday, Nov. 5, 2024, on the campus of Howard University in Washington. (AP Photo/Mark Schiefelbein)Michelle Rhea Greene prays as election results are played on a giant screen Michelle Rhea Greene prays as election results are played on a giant screen at Historic King Solomon Baptist Church in Detroit, Tuesday, Nov. 5, 2024. (AP Photo/Jose Juarez)Bartender serves drinks with the pictures of the Republican presidential nominee former President Donald Trump and Democratic presidential nominee Vice President Kamala HarrisBartender serves drinks with the pictures of the Republican presidential nominee former President Donald Trump and Democratic presidential nominee Vice President Kamala Harris on U.S. Election Day to customers watching results roll in at a bar in Jerusalem, Wednesday, Nov. 6, 2024. (AP Photo/Ohad Zwigenberg)Shamans perform a good luck ritual holding posters of Democratic presidential nominee Vice President Kamala Harris and Republican presidential nominee former President Donald TrumpShamans perform a good luck ritual holding posters of Democratic presidential nominee Vice President Kamala Harris and Republican presidential nominee former President Donald Trump, at the beach in Lima, Peru, Tuesday, Nov. 5, 2024. (AP Photo/Martin Mejia)Supporters of U.S. Democratic presidential nominee Vice President Kamala Harris watch as the first results from the state of South Carolina come in during an election night watch partySupporters of U.S. Democratic presidential nominee Vice President Kamala Harris watch as the first results from the state of South Carolina come in during an election night watch party at the Babylon cinema in central Berlin, Germany, early Wednesday, Nov. 6, 2024. (AP Photo/Ebrahim Noroozi)Guests watch the screen showing a live broadcast of the 2024 U.S. Presidential Election results Guests watch the screen showing a live broadcast of the 2024 U.S. Presidential Election results at Good Heavens Bar Wednesday, Nov. 6, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)A supporter of Democratic presidential nominee Vice President Kamala Harris reacts as they watch televised reports for the 2024 U.S. presidential electionA supporter of Democratic presidential nominee Vice President Kamala Harris reacts as they watch televised reports for the 2024 U.S. presidential election during a watch party in Taipei, Taiwan, Wednesday, Nov. 6, 2024. (AP Photo/Chiang Ying-ying)A currency trader walks by the screens showing the images of Republican presidential nominee former President Donald Trump and Democratic presidential nominee Vice President Kamala HarrisA currency trader walks by the screens showing the images of Republican presidential nominee former President Donald Trump and Democratic presidential nominee Vice President Kamala Harris, at a foreign exchange dealing room in Seoul, South Korea, Wednesday, Nov. 6, 2024. (AP Photo/Lee Jin-man)Art teacher Prithviraj Kambli paints posters of US Vice President Kamala Harris and former President Donald TrumpArt teacher Prithviraj Kambli paints posters of US Vice President Kamala Harris and former President Donald Trump, outside his school in Mumbai, India, Tuesday, Nov. 5, 2024.(AP Photo/Rajanish Kakade)
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Published on November 06, 2024 01:48

PHOTOS: Stark contrast between Harris and Trump supporters as election margin becomes razor thin

As election night progressed, Americans were fixated on results trickling in, their faces giving way to despair or celebration as states were called for Vice President Kamala Harris or former President Donald Trump.

Trump supporters were ecstatic at a campaign watch party in West Palm Beach, Florida.

Harris supporters looked on in dismay when it was announced she would not speak at a campaign watch party on the campus of Howard University in Washington, D.C.

It was all smiles and hugs at some watch parties when it was announced Trump won Georgia, a state that he lost by just under 12,000 votes in 2020.

That was a stark contrast with Democratic supporters, who could only bury their faces in their hands as Trump continued to gain ground in states that President Joe Biden won four years before.

Supporters of Democratic presidential nominee Vice President Kamala Harris leave an election night campaign watch party after it was announced that she would not speakSupporters of Democratic presidential nominee Vice President Kamala Harris leave an election night campaign watch party after it was announced that she would not speak on Wednesday, Nov. 6, 2024, on the campus of Howard University in Washington. (AP Photo/J. Scott Applewhite)Supporters react as they watch election results at an election night campaign watch party for Republican presidential nominee former President Donald TrumpSupporters react as they watch election results at an election night campaign watch party for Republican presidential nominee former President Donald Trump Tuesday, Nov. 5, 2024, in West Palm Beach, Fla. (AP Photo/Alex Brandon)Supporters of Republican presidential nominee former President Donald Trump react to news that Trump won the state of Georgia during a watch partySupporters of Republican presidential nominee former President Donald Trump react to news that Trump won the state of Georgia during a watch party in Washington, Wednesday, Nov. 6, 2024. (AP Photo/Nathan Howard)A man, who declined to give his name, reacts while watching election results update on a jumbo screen television in San FranciscoA man, who declined to give his name, reacts while watching election results update on a jumbo screen television in San Francisco on Tuesday, Nov. 5, 2024. (AP Photo/Noah Berger)A supporter waiting during an election night campaign watch party for Democratic presidential nominee Vice President Kamala HarrisA supporter waiting during an election night campaign watch party for Democratic presidential nominee Vice President Kamala Harris on Tuesday, Nov. 5, 2024, on the campus of Howard University in Washington. (AP Photo/Ben Curtis)Karen Vaughn reacts with her husband Billy and daughter Anna as they watch election results at an election night campaign watch party for Republican presidential nominee former President Donald TrumpKaren Vaughn, center, reacts with her husband Billy, left, and daughter Anna as they watch election results at an election night campaign watch party for Republican presidential nominee former President Donald Trump, Wednesday, Nov. 6, 2024, in West Palm Beach, Fla. (AP Photo/Marta Lavandier)Supporters watch returns at a campaign election night watch party for Republican presidential nominee former President Donald TrumpSupporters watch returns at a campaign election night watch party for Republican presidential nominee former President Donald Trump at the Palm Beach Convention Center, Wednesday, Nov. 6, 2024, in West Palm Beach, Fla. (AP Photo/Evan Vucci)People attend an Arizona Democrats watch party on election nightPeople attend an Arizona Democrats watch party on election night Tuesday, Nov. 5, 2024, in Phoenix. (AP Photo/Ross D. Franklin)Supporters react as they watch election results at an election night campaign watch party for Republican presidential nominee former President Donald TrumpSupporters react as they watch election results at an election night campaign watch party for Republican presidential nominee former President Donald Trump Tuesday, Nov. 5, 2024, in West Palm Beach, Fla. (AP Photo/Alex Brandon)Supporters of Republican presidential nominee former President Donald Trump react to news that Trump won the state of Georgia during a watch partySupporters of Republican presidential nominee former President Donald Trump react to news that Trump won the state of Georgia during a watch party in Washington, Wednesday, Nov. 6, 2024. (AP Photo/Nathan Howard)Students gather for an election night watch partyLeah Charles, left, and Tianna Adams, North Carolina A&T students, gathers with other students for an election night watch party, Tuesday, Nov. 5, 2024, in Greensboro, N.C. (AP Photo/George Walker IV)Supporters of Democratic presidential nominee Vice President Kamala Harris look at election results during an election night campaign watch partySupporters of Democratic presidential nominee Vice President Kamala Harris look at election results during an election night campaign watch party Tuesday, Nov. 5, 2024, on the campus of Howard University in Washington. (AP Photo/Mark Schiefelbein)Supporters of Republican presidential nominee former President Donald Trump cheer as Pennsylvania votes are countedSupporters of Republican presidential nominee former President Donald Trump cheer as Pennsylvania votes are counted, during an election night watch party Tuesday, Nov. 5, 2024, in Las Vegas, Nev. (AP Photo/Ian Maule)Supporters react after it was announced that Democratic presidential nominee Vice President Kamala Harris would not speak at election night campaign watch partySupporters react after it was announced that Democratic presidential nominee Vice President Kamala Harris would not speak at election night campaign watch party on Wednesday, Nov. 6, 2024, on the campus of Howard University in Washington. (AP Photo/Stephanie Scarbrough)Jessica Reid reacts while watching election results update on a jumbo screen television in San FranciscoJessica Reid reacts while watching election results update on a jumbo screen television in San Francisco on Tuesday, Nov. 5, 2024. (AP Photo/Noah Berger)
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Published on November 06, 2024 01:24

Stocks, bond yields and bitcoin surge as Trump wins US election

By ZIMO ZHONG and ELAINE KURTENBACH, Associated Press

HONG KONG (AP) — Stock prices, bond yields and bitcoin surged Wednesday as voters returned former President Donald Trump to the White House and the Republican party gained control of the Senate.

Investors expect Trump’s victory to lead to faster economic growth and more market-friendly policies.

Ahead of U.S. markets opening Wednesday, the future for the S&P 500 gained 1.23% and the future for the Dow Jones Industrial Average was up 1.02%. The Nasdaq composite future was 1.43% higher.

The price of bitcoin jumped nearly 8% to a record $75,345.00, as investors bet on a victory for Trump, who has pledged support for cryptocurrencies. It later fell back to $74,525.00.

Bond yields also surged, with the yield on the 10-year Treasury climbing to 4.4% from 4.28% on Tuesday.

“The markets are scrambling to figure out what happens next, but for the time being, the market is pricing in a higher growth and higher inflation outlook,” Peter Esho of Esho Capital said in a commentary.

A currency trader walks by the screens showing the images of Republican presidential nominee former President Donald Trump and Democratic presidential nominee Vice President Kamala HarrisA currency trader walks by the screens showing the images of Republican presidential nominee former President Donald Trump and Democratic presidential nominee Vice President Kamala Harris, at a foreign exchange dealing room in Seoul, South Korea, Wednesday, Nov. 6, 2024. (AP Photo/Lee Jin-man)

In early European trading, Germany’s DAX climbed 1.3% to 19,503.40, while the CAC 40 in Paris advanced 1.9% to 7,550.36. Britain’s FTSE 100 was up 1.4% at 8,285.06.

Markets worldwide have been fixated on what the election will mean for U.S. economic, monetary and trade policy, as well as geopolitics. The House has not yet been decided and a split in Congress between political parties would complicate policymaking. A Trump White House is likely to have far reaching ramifications given his support for sharp increases in tariffs, especially on imports from China.

Robert Halver, head of Capital Market Analysis at Baader Bank in Germany said that, “since Donald Trump stands for the economy, it can be assumed that stock markets around the world will go up. With one exception: China, because he will definitely impose tariffs at least on China. That will certainly make life difficult for the Chinese.”

The dollar surged against both the Mexican peso and the Chinese yuan, two key trading partners. It was also up against the yen and the euro.

The broad U.S. stock market has historically tended to rise regardless of which party wins the White House, even if each party’s policies can help and hurt different industries’ profits.

Since 1945, the S&P 500 has risen in 73% of the years where a Democrat was president and 70% of the years when a Republican was the nation’s chief executive, according to Sam Stovall, chief investment strategist at CFRA.

The S&P 500 has risen nearly 70% since the 2020 election brought President Joe Biden into office. It rallied to records as the U.S. economy bounced back from the COVID-19 pandemic and managed to avoid a recession despite a jump in inflation.

Currency traders watch their computer monitors near the screens showing the images of Republican presidential nominee former President Donald Trump and Democratic presidential nominee Vice President Kamala HarrisCurrency traders watch their computer monitors near the screens showing the images of Republican presidential nominee former President Donald Trump and Democratic presidential nominee Vice President Kamala Harris, and the Korea Composite Stock Price Index (KOSPI), right, at a foreign exchange dealing room in Seoul, South Korea, Wednesday, Nov. 6, 2024. (AP Photo/Lee Jin-man)

The economy was a key issue for inflation-weary U.S. voters who chose Trump this time around, though mainstream economists have said Trump’s policy proposals would make inflation worse.

Trump has also vowed to sharply raise tariffs on imports from China and other countries, darkening the outlook for Chinese exporters at a time when Beijing has relied heavily on ramping up manufacturing to try to revive its slowing economy.

Chinese markets have been among the most active in the region this week as leaders hold a meeting of the Standing Committee of the National People’s Congress, the country’s legislature.

The gathering is expected to deliver more moves to help spur faster economic growth and resolve mounting levels of local government debt. On Tuesday, upbeat comments by Premier Li Qiang about the potential for both fiscal and monetary policies helped lift share benchmarks in Hong Kong and Shanghai by more than 2%. Li also expressed confidence that China will attain its growth target of about 5% this year.

In Asian share trading Wednesday, Japan’s Nikkei 225 index gained 2.6% to 39,480.67, while the Kospi in Seoul shed 0.9% to 2,553.90.

Australia’s S&P/ASX 200 rose 0.8% to 8,199.50.

Hong Kong’s Hang Seng index fell 2.2% to 20,538.38, ending a three-day rally, as investors sought safe-haven assets amid the uncertainties surrounding the U.S. election. The Hang Seng Tech Index slipped 2.5%, while the Shanghai Composite index edged 0.1% lower, to 3,383.81.

In other dealings early Wednesday, U.S. benchmark crude oil lost 90 cents to $71.09 per barrel. Brent crude, the international standard, gave up $1.00 cents to $74.53 per barrel.

Associated Press Writer Kirstin Grieshaber in Berlin contributed to this report.

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Published on November 06, 2024 00:40

November 5, 2024

2024 Election: Smith has significant lead in PG mayor race

Nick Smith appears to be on his way to becoming America’s Last Hometown’s new mayor.

After early returns, the Pacific Grove councilman had a 13-percentage point lead over second-place Daniel Miller. Dionne Ybarra had 25 percent

Smith, who won the endorsement of current Mayor Bill Peake, ran on issues focusing on the community, environmental efforts and creating family-friendly spaces for the city.

“I’m very pleased with the voters and feel they made the right decision,” Smith said. “I’m looking forward to being a leader of the council and working with the community.”

Pacific Grove Mayor candidate Nick Smith, left, embraces current mayor Bill Peake. (Arianna Nalbach - Monterey Herald)Pacific Grove Mayor candidate Nick Smith, left, embraces current mayor Bill Peake. (Arianna Nalbach – Monterey Herald)

Smith, who was elected to the council in 2016 and re-elected in 2020, says he is ready for the opportunity to lead the council and share more of his ideas for Pacific Grove.

“I’m really excited to continue our capital improvement projects, like the downtown area and the trail, making sure Pacific Grove is the best it can be for our community and tourists,” Smith said. “I want increase youth recreation, programs for kids and overall services we provide to the public.”

The race for council seats is close, with early returns showing Paul Walkingstick with 21 percent of the vote, incumbent Councilman Chaps Poduri with 19.81 percent, incumbent Councilman Luke Coletti with 19.44 percent, and Tina Rau with 19.11 percent. The top three candidates will win seats on the council.

Early returns seem to indicate that Pacific Grove residents will pass both of the measures on their ballots, defining a timeshare in the city charter and decreasing the number of council members from six to four.

Measure Q has 79 percent of the vote, adding the definition of a timeshare to the municipal code and prohibiting the advertising and sale of timeshares.

Measure Z has 53 percent of the vote. The measure to shrink the council from six to four seats. The measure is part of Pacific Grove’s ongoing process to switch council members to representing districts rather than be voted in as at-large candidates.

One of the concerns was Pacific Grove moving to a by-district system with six council members, effectively splitting the already small city into six smaller regions. Another concern was having six districts and not enough candidates running in each of them.

Passing Measure Z is the first step before the city starts public hearings about the by-district system process next year.

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Published on November 05, 2024 23:38

Election 2024: Monterey mayor has big lead, one race too close to call

Incumbent Monterey Mayor Tyller Williamson appears on his way to re-election, capturing 68 percent of the early returns over challenger Monique Kaldy.

Williamson will have another two years to tackle his agenda on housing affordability, water rights and availability, and his overarching goal of getting more inclusion and diversity in community efforts.

“I feel really good and the numbers look really good,” Williamson said. “I campaigned hard and now I’m just looking forward to the rest of the results.”

Incumbent Councilman Gino Garcia leads for the council seat representing District 4 with 54 percent of the vote against challenger Brian Perez.

District 3 is still too close to call, with early returns separating challengers Jean Rasch and Eric Palmer by just 13 votes.

“I’m just anxious,” said Rasch, who was leading late Tuesday night. “It’s too close to call.”

Meanwhile Palmer said he is also waiting in suspense for the results.

“I knew that Rasch would be a competitor from the start,” Palmer said. “I’m still hopeful, and just trying to maintain that. I worked really hard and did everything I could have done on the campaign trail.”

Monterey City Council candidate Eric Palmer (second from left) looks at results with supporters and Monterey Mayor Tyller Williamson (far right) during an election night party in Monterey, on Tuesday. (Nic Coury -- Herald Correspondent)Monterey City Council candidate Eric Palmer (second from left) looks at results with supporters and Monterey Mayor Tyller Williamson (far right) during an election night party in Monterey, on Tuesday. (Nic Coury — Herald Correspondent)

Early results also indicated that Monterey voters would be passing all of the measures before them, cleaning up city code language and creating term limits for council members.

Measure X will prohibit a person from serving more than 12 years total in any elective office in the city, whether that time is served as mayor, a council member, or a combination of the two. The measure passed with 80 percent of the early returns vote. The term limit would not apply to someone who is appointed by the city council to fill a vacancy, meaning if someone was appointed to serve the last two years of a retired council member’s term, that two years would not count toward their 12-year limit.

The term limits would apply to future terms starting with people who are elected in November.

Measure W fixes unintentional vacancies in the council during the last couple of months of the year. Currently, when a council member runs for mayor, their term ends on the day of the election. In the past, this has created one to two vacancies, forcing the Monterey Council to run with a small quorum during the holiday season.

Measure W, which appears on its way to passing with 81 percent of the early return vote, will specify that the term of office for a council member filing for mayor expires when their successor is appointed, or 40 days after the election. The proposal also makes other clerical, non-substantive changes to sections regarding the mayor and council members.

Measure V fixes some of the language in the city charter to reflect current practices and appears on its way to passing with 79 percent of the early return vote. It will substitute gender-neutral terminology and make grammatical corrections; authorize ordinances to be adopted without reading the full ordinance in council or publishing it in the newspaper; and reflect that the Board of Library Trustees select the Library Director and the director selects the library employees.

Measure Y also looks like it’s on its way to passing with 79 percent of the early return vote. It amends the city’s charter to allow the city to lease its real property to qualified nonprofit organizations, government entities, or educational institutions on terms and rates that serve the community benefit. The city’s charter currently requires all leases of city property to be at fair market rent.

This amendment still requires that all leases of city property be at fair market rate as established by sound appraisal practices, but would allow for exceptions for below market rate leases to qualified organizations where the city finds it benefits the community. City staff say this amendment might result in reduced rent revenue to the city.

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Published on November 05, 2024 22:51

America reaches Election Day and a stark choice between Trump and Harris

By ZEKE MILLER, MICHELLE L. PRICE and WILL WEISSERT, Associated Press

WASHINGTON (AP) — A presidential campaign marked by upheaval and rancor approached its finale on Election Day as Americans decided whether to send Donald Trump back to the White House or elevate Kamala Harris to the Oval Office.

Polls opened across the nation Tuesday morning as voters faced a stark choice between two candidates who have offered drastically different temperaments and visions for the world’s largest economy and dominant military power.

Harris, the Democratic vice president, stands to be the first female president if elected. She has promised to work across the aisle to tackle economic worries and other issues without radically departing from the course set by President Joe Biden. Trump, the Republican former president, has vowed to replace thousands of federal workers with loyalists, impose sweeping tariffs on allies and foes alike, and stage the largest deportation operation in U.S. history.

The two candidates spent the waning hours of the campaign overlapping in Pennsylvania, the biggest battleground state. They were trying to energize their bases as well as Americans still on the fence or debating whether to vote at all.

"It’s important, it’s my civic duty and it’s important that I vote for myself and I vote for the democracy and the country which I supported for 22 years of my life,” said Ron Kessler, 54, an Air Force veteran from Pennsylvania who said he was voting for just the second time.

Harris and Trump entered Election Day focused on seven battleground states, five of them carried by Trump in 2016 before flipping to Biden in 2020: the “blue wall” of Pennsylvania, Michigan and Wisconsin as well as Arizona and Georgia. Nevada and North Carolina, which Democrats and Republicans respectively carried in the last two elections, also were closely contested.

The closeness of the race and the number of states in play raised the likelihood that once again a victor might not be known on election night. There was one early harbinger from the New Hampshire hamlet of Dixville Notch, which by tradition votes after midnight on Election Day. Dixville Notch split between Trump and Harris, with three votes for each.

In the 2020 presidential race it took four days to declare a winner. Regardless, Trump has baselessly claimed that if he lost, it would be due to fraud. Harris' campaign was preparing for him to try to declare victory before a winner is known on Tuesday night or to try to contest the result if she wins. Four years ago, Trump launched an effort to overturn the voters’ will that ended in the Jan. 6, 2021, insurrection at the U.S. Capitol.

Trump planned to vote in his adopted home state of Florida on Tuesday, then spend the day at his Mar-a-Lago estate in advance of a party at a nearby convention center. Harris already voted by mail in her home state of California. She'll have a watch party at her alma mater, Howard University in Washington.

Each candidate would take the country into new terrain

Harris, 60, would be the first woman, Black woman and person of South Asian descent to serve as president. She also would be the first sitting vice president to win the White House in 32 years.

A victory would cap a whirlwind campaign unlike any other in American history. Harris ascended to the top of the Democratic ticket less than four months ago after Biden, facing massive pressure from his party after a disastrous debate performance, ended his reelection bid.

Trump, 78, would be the oldest president ever elected. He would also be the first defeated president in 132 years to win another term in the White House, and the first person convicted of a felony to take over the Oval Office.

Having left Washington abandoned by some allies after Jan. 6, Trump defeated younger rivals in the Republican primary and consolidated the support of longtime allies and harsh critics within his party. He survived one assassination attempt by millimeters at a July rally. Secret Service agents foiled a second attempt in September.

A victory for Trump would affirm that enough voters put aside warnings from many of Trump's former aides or instead prioritized concerns about Biden and Harris' stewardship of the economy or the U.S.-Mexico border.

It would all but ensure he avoids going to prison after being found guilty of his role in hiding hush-money payments to an adult film actress during his first run for president in 2016. His sentencing in that case could occur later this month. And upon taking office, Trump could end the federal investigation into his effort to overturn the 2020 election results.

The election has huge stakes for America and the world

The potential turbulence of a second Trump term has been magnified by his embrace of the Republican Party’s far right and his disregard for long-held democratic norms.

Trump has used harsh rhetoric against Harris and other Democrats, calling them “demonic,” and has suggested military action against people he calls “enemies from within.”

Harris, pointing to the warnings of Trump's former aides, has labeled him a “fascist” and blamed Trump for putting women's lives in danger by nominating three of the justices who overturned Roe v. Wade. In the closing hours of the campaign, she tried to strike a more positive tone and went the entire last day Monday without saying her Republican opponent's name.

Heading into Election Day, federal, state and local officials expressed confidence in the integrity of the nation’s election systems. They nonetheless were braced to contend with what they say is an unprecedented level of foreign disinformation — particularly from Russia and Iran — as well as the possibility of physical violence or cyberattacks.

Candidates for president and vice president of the United States, Democrats Vice President Kamala Harris and Minnesota Gov. Tim Walz, and Republicans former President Donald Trump and Sen. JD Vance, R-Ohio, are seen on part of a mail-in election ballot Candidates for president and vice president of the United States, Democrats Vice President Kamala Harris and Minnesota Gov. Tim Walz, and Republicans former President Donald Trump and Sen. JD Vance, R-Ohio, are seen on part of a mail-in election ballot in New York on Sunday, Nov. 3, 2024. (AP Photo/Patrick Sison)

Both sides have armies of lawyers in anticipation of legal challenges on and after Election Day. And law enforcement agencies nationwide are on high alert for potential violence.

The outcome of the race was being closely watched around the world, with the future of American support for Ukraine, U.S. fidelity to its global alliances and the nation’s commitment to stand up to autocrats hanging in the balance.

Harris has vowed to continue backing Kyiv's defense against Russia's full-scale 2022 invasion. Trump has sharply criticized Ukraine, praised Russian President Vladimir Putin and suggested he would encourage Russia to attack NATO allies of the U.S. that Trump considers delinquent.

Voters nationwide also were deciding thousands of other races that will decide everything from control of Congress to state ballot measures on abortion access.

More than 82 million people voted early — shy of the record set during the 2020 pandemic, when Trump encouraged Republicans to stick to voting on Election Day. This time, he urged his voters to lock down their ballots in advance and they complied in droves.

Associated Press writers Jill Colvin in Palm Beach, Florida, Darlene Superville and Eric Tucker in Washington, and Marc Levy in Allentown, Pennsylvania, contributed to this report.

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Published on November 05, 2024 04:17

Horoscopes Nov. 5, 2024: Kevin Jonas, refresh and begin again

CELEBRITIES BORN ON THIS DAY: Kevin Jonas, 37; Tatum O’Neal, 61; Bryan Adams, 65; Art Garfunkel, 83.

Happy Birthday: Refresh and begin again. Wipe your slate clean and clear the path for better days ahead. Use your imagination and change whatever is slowing you down. Refuse to let anyone take advantage of you physically or financially. Put a plan in place that allows you to move forward with budget ideas to improve your life. Put your energy to good use, and distance yourself from interference. Your numbers are 7, 13, 22, 27, 32, 39, 46.

ARIES (March 21-April 19): Take care of institutional, bureaucratic or financial matters personally. Verify the information you receive and press forward with questions and options to ensure you get things done to the best of your ability. Refuse to let emotional matters spin out of control or cost you unnecessarily. 2 stars

TAURUS (April 20-May 20): Take a unique approach to whatever you pursue. Reinvent how you present and promote what you have to offer, and the reaction you receive will provide insight into how to tweak your delivery or skills to suit what’s trending. Patience will save time by eliminating mistakes. 5 stars

GEMINI (May 21-June 20): Direct and open communication will help keep the peace and avoid misleading circumstances that can slow down progress. Look for opportunities and act; be the one to lead the way and put a dent in whatever requires attention. Personal gain and growth are favored. 3 stars

CANCER (June 21-July 22): Step in and take over. Time spent tidying up loose ends will save money, offer insight into something you do well and bring in extra cash. Pay attention to situations that reflect a hidden agenda. Refrain from trusting people to take care of your concerns or business. 3 stars

LEO (July 23-Aug. 22): Apply pressure where needed and use physical labor to ensure things get done on time. Participate in an event that offers a challenge you find gratifying or that will encourage an encounter with someone who enriches your life. Personal and physical improvement will disclose opportunities. Romance is in the stars. 3 stars

VIRGO (Aug. 23-Sept. 22): Keep an open mind and try not to overreact to situations or comments. Criticism will make matters worse, but if you put your energy into educational pursuits or self-improvement instead of trying to change others, you’ll feel good about your achievements and avoid negative interactions. 2 stars

LIBRA (Sept. 23-Oct. 22): Short trips, with destinations that teach you something or bring you in contact with someone who makes you think, will prompt inner change and a better lifestyle. Put your best foot forward and explore the possibilities. A change will encourage you to concentrate on personal happiness and gratification. 4 stars

SCORPIO (Oct. 23-Nov. 21): A steady pace will deter others from standing in your way. Stay on top of money matters to avoid overpaying for something you can get cheaper elsewhere. Research and dedication are your ticket to finishing what you start and being happy with the results. Simplicity and moderation are favored. 3 stars

SAGITTARIUS (Nov. 22-Dec. 21): Think, develop and perfect your idea before you share your plan with others. Your objective is to avoid interference. Use your time effectively to ease stress and point you in a direction that offers personal and financial gains. Implement positive change, and you’ll prosper. 3 stars

CAPRICORN (Dec. 22-Jan. 19): Refuse to suffocate your dreams when, realistically, they will stimulate your mind and encourage you to focus on personal contentment, happiness and health. Spend time working through any issues that may slow you down. Taking a unique approach is beneficial, if your plan is feasible. 3 stars

AQUARIUS (Jan. 20-Feb. 18): Be demonstrative if it will help you raise interest in something you have to offer. Take the initiative to physically follow through instead of just talking about your dreams. Opportunity begins with you and your enthusiasm. Don’t limit what you can do or let outside influences discourage you. 3 stars

PISCES (Feb. 19-March 20): Focus on what you want to achieve and refuse to let anyone’s behavior deter you from what you want to accomplish. Choose your words carefully to sidestep criticisms, arguments or demands that help others more than you. Moderation and a simple lifestyle are in your best interest. 4 stars

Birthday Baby: You are fun-loving, entertaining and optimistic. You are energetic and adventurous.

1 star: Avoid conflicts; work behind the scenes. 2 stars: You can accomplish, but don’t rely on others. 3 stars: Focus and you’ll reach your goals. 4 stars: Aim high; start new projects. 5 stars: Nothing can stop you; go for gold.

Visit Eugenialast.com, or join Eugenia on Twitter/Facebook/LinkedIn.

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Published on November 05, 2024 03:00

US voters deciding dozens of ballot measures affecting life, death, taxes and more

By David A. Lieb, Associated Press

While electing officials to make and enforce laws, voters in dozens of states are also deciding on more than 140 ballot proposals affecting the way people legally live, work and die.

As 10 states consider measures related to abortion or reproductive rights on Tuesday’s ballots, about a half-dozen states are weighing the legalization of marijuana for either recreational or medical use. About two dozen measures are focused on future elections, including several specifically barring noncitizens voting. Other state measures affect wages, taxes, housing and education.

Many of the ballot measures were initiated by citizen petitions that sidestep state legislatures, though others were placed before voters by lawmakers.

Marijuana legalization

Voters in Florida, North Dakota and South Dakota are deciding whether to legalize recreational marijuana for adults. The election marks the third vote on the issue in both North Dakota and South Dakota. In Nebraska, voters are considering a pair of measures that would legalize medical marijuana and regulate the industry.

About half the states currently allow recreational marijuana and about a dozen more allow medical marijuana.

In Massachusetts, a ballot measure would legalize the possession and supervised use of natural psychedelics, including psilocybin mushrooms. It would be the third state to do so, following Oregon and Colorado.

Immigration

An Arizona measure crafted amid a surge in immigration would make it a state crime to enter from a foreign country except through official ports of entry, and for someone already in the U.S. illegally to apply for public benefits using false documents.

The border crossing measure is similar to a challenged Texas law that the U.S. Justice Department says violates federal authority.

School choice

A proposed amendment to the Kentucky Constitution would allow lawmakers to use state funds for private schools. A Colorado measure would create a constitutional right to school choice for K-12 students.

In Nebraska, voters are deciding whether to repeal a new state law that funds private school tuition with state dollars.

A majority of states offers some sort of state-backed program to help cover private school costs.

Sports betting

Missouri voters are deciding whether to become the latest to legalize sports betting. A total of 38 states and Washington, D.C., already allow sports betting, which has expanded rapidly since the U.S. Supreme Court cleared the way for it in 2018.

Taxes

A Colorado proposal would make it the second state after California to impose a sales tax on firearms and ammunition, with revenue going primarily to crime victims’ services. The federal government already taxes sales of guns and ammunition.

North Dakota voters are considering a measure to eliminate property taxes. If approved, local governments could need more than $3 billion biennially in replacement revenue from the state.

A South Dakota measure would repeal the state’s sales tax on groceries, a move already taken in most other states.

An Oregon measure would raise the minimum tax on large corporations to fund a tax rebate for residents.

Housing

California voters are deciding whether to repeal a 1995 law limiting local rent control ordinances. If approved, it would open the way for local governments to expand limitations on the rates that landlords could charge.

A unique proposal in Arizona links property taxes with responses to homelessness. It would let property owners seek property tax refunds if they incur expenses because a local government declined to enforce ordinances against illegal camping, loitering, panhandling, public alcohol and drug use, and other things.

Climate

Voters in Washington state are considering whether to repeal a 2021 law that caps carbon emissions and creates a market for businesses exceeding the mark to purchase allowances from others. Washington was the second state to launch such a program, after California.

Citizen voting

Republican-led legislatures in eight states — Idaho, Iowa, Kentucky, Missouri, North Carolina, Oklahoma, South Carolina and Wisconsin — have proposed state constitutional amendments declaring that only citizens can vote.

Missouri Attorney General Andrew Bailey speaks in support of a state constitutional amendment limiting voting to only U.S. citizens during a press conferenceMissouri Attorney General Andrew Bailey speaks in support of a state constitutional amendment limiting voting to only U.S. citizens during a press conference, Oct. 10, 2024, at the state Capitol in Jefferson City, Mo. (AP Photo/David A. Lieb)

A 1996 U.S. law prohibits noncitizens from voting in federal elections, and many states already have similar laws. But Republicans have emphasized the potential of noncitizens voting after an influx of immigrants at the U.S.-Mexican border. Though noncitizen voting historically has been rare, voter roll reviews before the election flagged potential noncitizens registered in several states.

Some municipalities in California, Maryland, Vermont and Washington, D.C., allow noncitizens to vote in certain local elections.

Voting methods

Connecticut voters are considering whether to authorize no-excuse absentee voting, joining most states that already allow it.

Measures in Montana and South Dakota would create open primary elections in which candidates of all parties appear on the same ballot, with a certain number advancing to the general election. Measures in Colorado, Idaho and Nevada also propose open primaries featuring candidates from all parties, with a certain number advancing to a general election using ranked choice voting. An Oregon measure would required ranked choice voting in both primaries and general elections.

Ranked choice voting is currently used in Alaska and Maine. But Alaska voters are considering whether to repeal provisions of a 2020 initiative that instituted open primaries and ranked choice general elections.

Arizona voters are deciding between competing ballot proposals that would require either open primaries with candidates of all parties or the state’s current method of partisan primaries. If conflicting measures both pass, the provision receiving the most votes takes effect, but that could be up to a court to decide.

Redistricting

An Ohio initiative would create a citizens commission to handle redistricting for U.S. House and state legislative seats, taking the task away from elected officials.

Minimum wage

Ballot measures in Missouri and Alaska would gradually raise minimum wages to $15 an hour while also requiring paid sick leave. A California measure would incrementally raise the minimum wage for all employers to $18 an hour.

A Nebraska measure would require many employers to provide sick leave but would not change wages.

A Massachusetts measure would gradually raise the minimum wage for tipped employees until it matches the rate for other employees. By contrast, an Arizona measure would let tipped workers be paid 25% less than the minimum wage, so long as tips push their total pay beyond the minimum wage threshold.

Assisted suicide

West Virginia voters are deciding whether to amend the state constitution to prohibit medically assisted suicide. The measure would run counter to 10 states and Washington, D.C., where physician-assisted suicide is allowed.

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Published on November 05, 2024 00:32