'This Is Painful': Hillary Clinton Addresses Stunned Staff And Nation In Defeat

November 10, 2016

Washington, Nov 10: Hillary Clinton saw a rancorous campaign through to its bitter end on Wednesday, conceding the presidency to a man she had called unfit for the office and a threat to the fabric of the country.

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In defeat, Clinton turned one of her central attacks on Donald Trump into a charge for the presidency she was denied, urging the next president and her disheartened supporters to respect the peaceful transfer of power.

"We have seen that our nation is more deeply divided than we thought," Clinton said hours after losing a presidential election she had been widely seen as sure to win. "But I still believe in America, and I always will. And if you do, then we must accept this result and then look to the future."

Speaking to a hastily assembled group of campaign staff, volunteers and supporters, Clinton went on: "Donald Trump is going to be our president. We owe him an open mind and the chance to lead."

She grew misty-eyed but maintained her composure even as her supporters could not throughout a speech she never imagined giving, in a hotel ballroom farther in feel than in distance from the exquisitely planned celebration she did not have on Tuesday night.

Hours earlier, Clinton had also planned to speak of the promise of "an America that's hopeful, inclusive and big-hearted." She had planned to call for unity and healing, with her own history-making election as the first female president a galvanizing example.

That dream started to unravel about 8:30 p.m. Tuesday, when roughly half the states had voted and results showed a Trump lead that Clinton's confident, data-driven campaign had not foreseen.

Clinton's second unsuccessful run for the White House relied heavily on a complex computer algorithm that the campaign was prepared to publicly unveil after the election.

As election results rolled in Tuesday, Clinton watched from a suite in the Peninsula Hotel in Manhattan as her would-be electoral advantage disappeared. The gulf opened and never closed as Trump performed more strongly than expected in several upper-Midwestern states that had voted for Democrats for a generation.

Earlier in the night, top Clinton aides bounced around the room doing media interviews and chatting with reporters, projecting optimism that Clinton's voters would come through with record turnout.

But by 9 p.m., the early warning signs had become dire. Virginia, a state that they thought would be an easy win, was looking like a squeaker. Florida had begun to appear out of reach. And Trump's victories in Iowa and Ohio, which were expected, became the leading edge of a Trump wave that swamped Clinton.

Not only did Trump capture big margins in battleground states, outperforming expectations for a divisive and damaged candidate, but he outperformed 2012 nominee Mitt Romney in some categories. Meanwhile, Clinton underperformed with the groups she needed most - minorities and younger voters - showing that she could neither recreate the much-admired "Obama coalition" nor assemble what her aides had begun to call her own "Hillary coalition."

One by one, Clinton aides began disappearing from the main hall and not answering their phones. They retreated to a nearby war room, which was cordoned off and guarded, and never returned. The mood outside the room turned from confusion to disbelief, anger and dejection.

Back at the Peninsula, campaign aides who were not part of Clinton's small core of intimate friends and advisers gradually peeled away and came to the Javits Center in ones and twos. Eventually it was only Clinton, her family and the closest advisers including Huma Abedin and Cheryl Mills making the decision first to put off a concession speech and then to concede by phone.

Mills smiled softly and shook her head when asked Wednesday what those hours were like.

"It's too raw," she said as she talked with Clinton supporters outside the New Yorker Hotel, where Clinton, flanked by running mate Sen. Tim Kaine, Va., and her husband and daughter, had said goodbye.

Clinton did not dwell Wednesday on what other friends said was an agonizing reckoning in that hotel room, but the mood was akin to the funeral for a sudden death - shocking, mystifying and starkly real. It was clear that no one - not Clinton, not her husband, not her supporters, not the core team of her campaign - had seen it coming.

"I know how disappointed you feel because I feel it too, and so do tens of millions of Americans who invested their hopes and dreams in this effort," Clinton said. "This is painful, and it will be for a long time."

Time and time again, Clinton and the team seemed to miss the magnitude of the forces that would overtake her in the Democratic primary and later against Trump.

It wasn't until Sen. Bernie Sanders of Vermont showed surprising strength in Iowa that the Clinton campaign put real stock in the strength of his populist economic message. The same forces helped Trump win on Tuesday.

Clinton would need voters to choose her over her opponents because of how she would "handle the economy and relate to the middle class," her campaign manager Robby Mook wrote in an email to close advisers in March 2014.

But more often, the effort to disqualify Trump based on his temperament took precedence over an economic focus.

Clinton's aides knew that there were soft spots in the Obama voting coalition that could pose problems for Clinton's bid. Her support among young voters was fragile, and in early voting, African American turnout and enthusiasm lagged.

In the end, Clinton's inability to bring out Democratic voters in the election was a dramatic failure that left her more than 5 million votes shy of Obama's total in 2012, according to preliminary results. Trump was ultimately able to claim victory having earned fewer votes than Romney did in 2012.

Latino voters did turn out in 2016, but many more than expected were willing to give Trump a shot at the White House. Among nonwhite voters, Clinton led Trump by 54 points - a whopping advantage but less than Obama's 61-point lead four years ago.

These miscalculations probably cost Clinton key states that Obama won four years ago: Michigan, Wisconsin, Florida and Pennsylvania. Clinton walked away having won the popular vote but having lost badly to Trump in the electoral college.

While her reliance on analytics became well known, the particulars of "Ada" the algorithm's work were kept under tight wraps, according to aides. The algorithm operated on a separate server than the rest of the Clinton operation as a security precaution, and only a few senior aides had access.

According to aides, a raft of polling numbers, public and private, were fed into the algorithm, as well as ground-level voter data collected by the campaign. Once early voting began, those numbers were factored in, too.

With that, aides said, Ada ran 400,000 simulations a day of what the race against Trump might look like. It spat out a report giving campaign manager Mook and others a detailed picture of which battleground states were most likely to tip the race in one direction or another - and guiding decisions about where to spend time and deploy resources.

But was it the right guidance? It appears that the importance of some states Clinton would lose - including Michigan and Wisconsin - never became fully apparent or that it was too late once it did.

Clinton made several visits to Michigan during the general election, but it wasn't until the final days that she, Obama and her husband made a concerted effort.

As for Wisconsin, Clinton didn't make any general-election appearances there at all.

Said Mook, in a wee-hours thank-you note to campaign workers: "Campaigns are incredibly hard, and sometimes the results don't reflect the merit, work and commitment that goes into them. This is one of those times."

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News Network
April 11,2020

Washington, Apr 11: China is considered a developing country, make the United States too a developing one, US President Donald Trump said on Friday, alleging that Beijing has taken advantage of his country.

"China has been unbelievably taken advantage of us and other countries. You know, for instance, they are considered a developing nation. I said well then make us a developing nation too,” Trump told reporters at his daily White House news conference on coronavirus.

The president was responding to a question on China.

“They get big advantages because they are a developing nation. India, a developing nation. The United States is a big developed nation. Well, we have plenty of development to do,” he said.

Reiterating that United States was taken advantage of by the World Trade Organization, Trump said the Chinese economy started booming after it joined WTO with the help of the US.

“If you look at the history of China, it was only since they went into the WTO that they became a rocket ship with their economy. They were flatlined for years and years,” he said.

“Frankly, for many, many decades. And it was only when they came into the WTO that they became a rocket ship because they took advantage of all -- I'm not even blaming them. I'm saying how stupid were the people that stood here and allowed it to happen,” he said.

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The Trump Administration will now allow that to happen, he said.

“If they don't treat us fairly, will leave. But now we're starting to win cases,” he said.

Alleging that China has taken advantage of the United States for 30 years, he said, China has taken advantage of the US through WTO and using rules that are unfair to the United States.

"They should have never been allowed it, this should have never been allowed to happen", he added.

“When China joined and was allowed to join under those circumstances the WTO, that was a very bad day for the United States because they have rules and regulations that were far different and far easier than our rules and regulations,” he said.

“Plus. They took advantage of them down to the last. China took advantage of them like few people would even think to take advantage of them and again they are considered right a developing nation,” he added.

The United States, he rued, is not considered a developing nation.

“The were given advantages (for being a developing nation). For many years China has ripped off the United States. Then I came along and right now, as you know, China is paying 25 percent," said Trump, adding that the US is now gaining "billions and billions and billions of dollars in tariffs from China”.

The US is not paying, he asserted.

“Not every country is China but China would devalue their currency and they would also pour out money and they essentially were paying most of those tariffs not us,” he said.

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Agencies
July 3,2020

The dollar's dominance will slowly melt away over the coming year on weakening global demand and a sombre U.S. economic outlook, according to a Reuters poll of currency forecasters whose views depend on there being no second coronavirus shock.

Despite fears a surge in new Covid-19 cases would delay economies reopening and stymie a tentative recovery, world stocks have rallied - with the S&P 500 finishing higher in June, marking its biggest quarterly percentage gain since the height of the technology boom in 1998.

Caught between bets in favour of riskier investments, weak U.S. economic prospects as well as an easing in the thirst for dollars after the Federal Reserve flooded markets with liquidity, the greenback fell nearly 1.0 per cent last month. It was its worst monthly performance since December.

While there was a dire prognosis from the top U.S. medical expert on the coronavirus' spread, the June 25-July 1 poll of over 70 analysts showed weak dollar projections as Fed Chair Jerome Powell on Monday reiterated the economic outlook for the world's largest economy was uncertain.

"The dollar rises in two instances: when you see risk off or when there is a situation where the U.S. is leading the global recovery, and we don't think that's going to be the case anytime soon," said Gavin Friend, senior FX strategist at NAB Group in London.

"The U.S. is playing fast and loose with the virus, and chronologically they're behind the rest of the world."

Currency speculators, who had built up trades against the dollar to the highest in two years during May, increased their out-of-favour dollar bets further last week, the latest positioning data showed.

About 80 per cent of analysts, 53 of 66, said the likely path for the dollar over the next six months was to trade around current levels, alternating between slight gains and losses in a range. That suggests the greenback may be at a crucial crossroad as more currency strategists have turned bearish.

But more than 90 per cent, or 63 of 68, said a second shock from the pandemic would push the dollar higher. Five said it would push the U.S. currency lower.

Much will also depend on debt servicing and repayments by Asian, European and other international borrowers in U.S. dollars.

While an early shortage of dollars in March from the pandemic's first shock pushed the Fed to open currency swap lines with major central banks, international funding strains have eased significantly since. In recent weeks, usage of the facility has reduced dramatically.

That trend is expected to continue over the next six months with major central banks' usage of swap lines to "stay around current levels", according to 32 of 46 analysts. While 13 predicted a sharp drop, only one respondent said use of them would "rise sharply".

The dollar index, which measures the greenback's strength against six other major currencies, has slipped over 5 per cent since touching a more than three-year high in March.

When asked which currencies would perform better against the dollar by end-December, a touch over half of 49 respondents said major developed market ones, with the remaining almost split between commodity-linked and emerging market currencies.

"The dollar is so overvalued, and has been overvalued for a long time, it's time now for it to come back down again, as we head towards the (U.S.) election," added NAB's Friend.

Over the last quarter, the euro has staged a 1.8 per cent comeback after falling by a similar margin during the first three months of the year. For the month of June, the euro was up 1.2 per cent against the dollar.

The single currency was now expected to gain about 2.5 per cent to trade at $1.15 in a year from around $1.12 on Wednesday, slightly stronger than $1.14 predicted last month. While those findings are similar to what analysts have been predicting for nearly two years, there was a clear shift in their outlook for the euro, with the range of forecasts showing higher highs and higher lows from last month.

"In comparison to even a month or two ago, the outlook in Europe has improved significantly," said Lee Hardman, currency strategist at MUFG.

"I think that makes the euro look relatively more attractive and cheap against the likes of the dollar. We're not arguing strongly for the euro to surge higher, we're just saying, after the weakness we have seen in recent years, there is the potential for that weakness to start to reverse."

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News Network
April 24,2020

Washington, Apr 24: The number of coronavirus cases in the US has surpassed 850,000, Johns Hopkins University Coronavirus Resource Center data revealed on Thursday (local time).
The country now has registered 8,56,209 cases overall, according to the data, including 47,272 deaths.

The US currently leads the world in the number of reported COVID-19 deaths and confirmed cases.

There are more than 2.6 million COVID-19 cases around the world and more than 1,85,000 deaths, according to the data.

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