After Trump The Slump

As Trump supporters celebrated his victory yesterday, the rest of the world reacted with shock

Maritzburgers say U.S. have voted themselves more racial tension, inequality

LOCALS have voiced their shock and disappointment after hearing the news that Donald Trump is the United States’ president elect.
Many have said their dismay was at­tributed to the comments Trump made during his campaign about women, Muslims, foreigners and the LGBTI ( les­bian, gay, bisexual, transvestite, inter­sex) communities.

Most local groups said they believed Trump’s reign as president would bring with it racial tensions and an increase in economic and social inequality.

Director for the local Gay and Lesbian Network Anthony Waldhausen said they were stunned and still coming to terms with “what the U.S. people have voted in”.

“His anti-LGBTI remarks have been documented in the run-up to the elec­tions and he wants to revoke progressive laws in the U.S. states that protect LGBTI people or recognise gay marria­ges,” Waldhausen said.

He said Trump’s poor treatment of women in general and anti-Muslim comments don’t bode well for these communities as well.

Waldhausen said the Gay and Lesbian Network’s concern was Trump’s shift in foreign policy to not fund many organi­sations from outside the U.S. and who depend on foreign funding.

These include the U.S. President’s Emergency Plan for Aids Relief (Pepfar) and the United States Agency for Inter­national Development (USAid) that the Obama administration championed.
“Also another concern is, will he up­hold many international human rights instruments that the U.S. is part of?” Waldhausen said.

Local Islamic academic and teacher Mohamed Saeed expressed his disap­pointment and shock at the election of the man he dubbed “Islamophobic Do­nald Trump” as president.

“I pray for my Muslim brothers and sisters in faith and also for Americans in general for their well-being and pro­tection from this gross travesty of justice and democracy,” Saeed said.

“His presi­dency will be a tragedy for immigrants, women, human rights and the rule of law,” he said.

Pietermaritzburg’ Chamber of Busi­ness CEO Melanie Veness said she was personally “profoundly” disappointed that so many Americans supported Trump. She described Trump as a man who appeared to have no tolerance for diversity “and who holds such bigoted and misogynistic views”. “From a busi­ness perspective, I think we can be grate­ful that our trade agreements with the U.S. are in place. Hopefully the some­ what panicky market response, which has caused volatility in the rand, will be short-lived,” Veness said.

Northdale resident Rachel Soobiah said a Republican win was not good for South Africa, but she believes not much would change as South Africa has a stra­tegic importance in terms of mineral re­sources. Blackridge resident Alleyn Die­sel said Trump’s brand of hatred would continue to spread throughout the world with damaging effects on the well- being of all humanity.

Rand slips as markets face Trump’s dearth of proper policies

EDWARD WEST

SOUTH Africa’s rand slumped yester­day as Donald Trump took the polls by surprise and was voted the next U.S. president.

Yesterday morning the rand fell as much as five percent, the biggest fall in the currency since June 24 when Britain voted to leave the European Union.

The dollar also fell as much as 3,5% against the yen yesterday, 1,8% against the euro and two percent against the Swiss franc after the election caught for­eign exchange traders by surprise — most had believed U.S. pollsters that predicted a Clinton win.

The gold price jumped more than 2,5% as global investors sought refuge in safe haven investments such as gold and the yen, as they fretted about uncer­tainty regarding Trump’s policies, and his earlier threats to disrupt U.S. trade policies, which will affect global trade.

By late afternoon, the rand was still trading 2,43% weaker at R13,49 per dol­lar. Sustained rand weakness is good for exporters, but it hurts consumers by pushing up the prices of imported goods, petrol and basic commodity foodstuffs such as maize and other grains. If U.S. fiscal policy becomes more expansionary, the U.S. Fed could hike in­terest rates, resulting in a stronger dollar, downward pressure on commodity pri­ces and, hence, a weaker rand.

Neil Roets, CEO of Debt Rescue, said Trump’s victory may be negative for deeply indebted local consumers. Trump offered very little in the line of actual policies, which brings profound uncertainty to financial markets. “There is nothing that markets hate more than uncertainty,” Roets said.

Peter Brooke, head of Old Mu­tual Investment Group’s Macro- Solutions boutique, said populists were gaining all around the world.

“We believe this is a lagged im­pact of the global financial crisis, which has resulted in very soggy global growth and rising inequali­ty as central bank stimulus has helped the rich,” he said.

Brooke expected continued po­litical uncertainty.

“Witness” readers react, some say Zuma is far worse

AFTER Republican Donald Trump won the 2016 U.S. presidential election over his Democratic counterpart Hillary Clinton yesterday, many people took to social media to air their disappointment and jubilation.

Below are some reactions from The Witness Facebook page. Belinda Streak Abel wrote: I feel sick. He absolutely did not get my vote. It’s going to be a long four years.

Vanessa Ganesh wrote: Eish!! At least he has his own money … So no
Saeed said he believed Trump’s rhe­toric against Muslims and vulnerable groups won him his votes.
taxpayers’ money used to fund his il­lusions of grandeur …

Chloe Boshoff wrote: They’ll still have a better president than we do! Nicola Henrietta Wilt Jones wrote: It’s the end of the world as we know it?

Deborah Samuel wrote: Feels like deja vu…

Michelle Stevens wrote: He’s been bleating that voting is rigged. But now it’s not? We have enough of our own issues to focus on and deal with in SA. We need to make SA great again!

Precious Khanyo Zondi wrote: US is coming to an end…

Leon Jossie wrote: Don’t really care who won or not, we got worst stuff in South Africa that we need to care about.

Tracey Lee Gerrard wrote: It could be worse, they are welcome to have Zuma and the Guptas … we will throw in Malema as a bonus.

But not everyone thought this was as bad as people are painting it out to be.

Sarah Brown wrote: Congratu­lations President Trump! He does a lot of good that the me­dia conveniently leaves out.

Ken Lindeboom wrote: Con­grats Trump … make USA great.

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