Last week a new word entered the Washington lexicon: Sharpiegate, named after the marker pen that generally sells for less than $1. That's because it's the writing instrument of choice of US President Donald Trump, who spurns the $120 rolling ballpoint pens preferred by his predecessors.
The president likes Sharpies because they write smoothly and boldly in thick, indelible strokes, perfectly conveying his now-familiar signature, which has been compared to an electrocardiogram reading. And since so much of his presidency has been based on imprinting his ECG signature on declarations and executive orders, Sharpies are now closely associated with him. His campaign team is even selling Sharpies decorated with his signature now for $15.
The Sharpie became an issue when, following the trauma of Hurricane Dorian, what should have been a minor mistake turned into a prolonged political struggle over truth and reality.
Just over a week ago, the president, who had extensively tweeted news and advice about the impending hurricane, had mistakenly warned the people of Alabama, together with the Carolinas and Georgia, that they were in its destructive path and were “most likely to be hit harder than anticipated”. The National Weather Service, however, said no such thing, and in an immediate response reiterated that Alabama faced no risk at all.
So far, no big deal. Everybody makes mistakes.
But not this president. What should have been a minor hiccup became a seemingly endless tug-of-war over whether Mr Trump is capable of error.
The Trump administration issued numerous statements by senior officials backing up his claims, all completely unconvincing, as the president angrily insisted that he, and not the government's scientists, had been correct.
Last Wednesday, the president summoned reporters into the Oval Office and brandished a map purporting to show the projected trajectory of the hurricane. It had been crudely altered with a Sharpie to show the storm winds reaching Alabama.
According to the Washington Post, senior unnamed officials confirmed that the president had made the alteration himself. While Mr Trump denied knowing who had doctored the map, his inability to admit a simple human error and move on has been obsessive and perturbing.
For several years in these pages, I have been tracking the progress of deinstitutionalisation in the US under Mr Trump. This recent incident, however seemingly absurd, constitutes a new threshold in an alarming process.
There is a clear pattern of this administration batting facts aside in favour of a narrative that is more emotionally satisfying, ideologically buttressing and politically empowering
It is unlawful for anyone to tamper with an official US government meteorological map. It is also a perfect example of how Mr Trump is more comfortable with a psychologically affirming narrative than objective, quantifiable reality, and the extent he will go to assert the primacy of myth, politics and ego over fact. Government scientists and meteorologists have now been formally warned to “only stick with official National Hurricane Centre forecasts if questions arise from some national level social media posts", which has been interpreted as a reprimand for criticising Mr Trump, even if he is misleading the public on a matter as serious as the path of a hurricane.
Time and again, it has not mattered to him what relevant and qualified authorities say about crowd size, voting patterns, immigration, terrorism, economic trajectories, climate change, scientific findings, or any number of other measurable, objective realities. These cases constitute a clear pattern of this administration batting facts aside in favour of a narrative that is more emotionally satisfying, ideologically buttressing and politically empowering.
In recent weeks deinstitutionalisation has taken a qualitative leap forward in several crucial ways.
The attack on fact-based reality and the scientists at the National Oceanic and Atmospheric Administration is one example.
Another is Mr Trump's ongoing war with the Federal Reserve Bank and its chairman in maintaining that, even though the economy is strong, the bank should lower the prime interest rate anyway, presumably because that might help secure his re-election.
Mr Trump has amplified his attacks on the press, the FBI, Congress, courts, his own bureaucracy and, seemingly, anyone and anything that might provide an alternative source of authority and information.
Deinstitutionalisation is even targeting the electoral process itself
The prime target remains the media, ever the low-hanging fruit in democratic politics, with Mr Trump now even turning on Fox News, which is split between entirely supportive and moderately supportive programming, as insufficiently "working for us anymore" and, as a consequence, "we", meaning his political support base, "need a new network".
Deinstitutionalisation is even targeting the electoral process itself.
The Federal Election Commission has been allowed to dwindle below a quorum, so there will apparently be no referee for accountability in the forthcoming election. And Senate majority leader Mitch McConnell, now commonly referred to as "Moscow Mitch" because of his refusal to do anything to stop Russian meddling in US elections, has blocked every effort to create a national set of election standards.
Deinstitutionalisation has also come to the Republican primaries, given that three relatively minor candidates are standing against Mr Trump. Caucuses and primaries within the party have been cancelled in South Carolina, Nevada, Arizona and Kansas, ostensibly to save money.
And Mr Trump, who is sworn to uphold and enforce the law, allegedly told his officials to disregard laws and simply seize land to build his wall along the southern border, promising them pardons if needs be, according to the Washington Post and New York Times, although administration officials claimed he was merely joking.
American deinstitutionalisation is rapidly accelerating. Many hope all this will be easily reversed when Mr Trump leaves office. But as any parent of young children will tell you, it’s incredibly hard to remove ugly stains left by a misused Sharpie.
Hussein Ibish is a senior resident scholar at the Arab Gulf States Institute in Washington
Pakistan squad
Sarfraz (c), Zaman, Imam, Masood, Azam, Malik, Asif, Sohail, Shadab, Nawaz, Ashraf, Hasan, Amir, Junaid, Shinwari and Afridi
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
UAE currency: the story behind the money in your pockets
UAE%20v%20West%20Indies
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
Company%20profile%20
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The Greatest Royal Rumble card as it stands
50-man Royal Rumble - names entered so far include Braun Strowman, Daniel Bryan, Kurt Angle, Big Show, Kane, Chris Jericho, The New Day and Elias
Universal Championship Brock Lesnar (champion) v Roman Reigns in a steel cage match
WWE World Heavyweight Championship AJ Styles (champion) v Shinsuke Nakamura
Intercontinental Championship Seth Rollins (champion) v The Miz v Finn Balor v Samoa Joe
United States Championship Jeff Hardy (champion) v Jinder Mahal
SmackDown Tag Team Championship The Bludgeon Brothers (champions) v The Usos
Raw Tag Team Championship (currently vacant) Cesaro and Sheamus v Matt Hardy and Bray Wyatt
Casket match The Undertaker v Chris Jericho
Singles match John Cena v Triple H
Cruiserweight Championship Cedric Alexander v tba
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
COMPANY%20PROFILE
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MATCH INFO
Mainz 0
RB Leipzig 5 (Werner 11', 48', 75', Poulsen 23', Sabitzer 36')
Man of the Match: Timo Werner (RB Leipzig)
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
Andor
%3Cp%3E%3Cstrong%3ECreator%3A%3C%2Fstrong%3E%20Tony%20Gilroy%3Cbr%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EDiego%20Luna%2C%20Genevieve%20O'Reilly%2C%20Alex%20Ferns%3Cbr%3E%3Cstrong%3ERating%3A%205%3C%2Fstrong%3E%2F5%3C%2Fp%3E%0A
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
FIVE%20TRENDS%20THAT%20WILL%20SHAPE%20UAE%20BANKING
%3Cp%3E%E2%80%A2%20The%20digitisation%20of%20financial%20services%20will%20continue%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Managing%20and%20using%20data%20effectively%20will%20become%20a%20competitive%20advantage%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Digitisation%20will%20require%20continued%20adjustment%20of%20operating%20models%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Banks%20will%20expand%20their%20role%20in%20the%20customer%20life%20through%20ecosystems%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20The%20structure%20of%20the%20sector%20will%20change%3C%2Fp%3E%0A
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Results
6.30pm: The Madjani Stakes (PA) Group 3 Dh175,000 (Dirt) 1,900m
Winner: Aatebat Al Khalediah, Fernando Jara (jockey), Ali Rashid Al Raihe (trainer).
7.05pm: Maiden (TB) Dh165,000 (D) 1,400m
Winner: Down On Da Bayou, Royston Ffrench, Salem bin Ghadayer.
7.40pm: Maiden (TB) Dh165,000 (D) 1,600m
Winner: Dubai Avenue, Fernando Jara, Ali Rashid Al Raihe.
8.15pm: Handicap (TB) Dh190,000 (D) 1,200m
Winner: My Catch, Pat Dobbs, Doug Watson.
8.50pm: Dubai Creek Mile (TB) Listed Dh265,000 (D) 1,600m
Winner: Secret Ambition, Tadhg O’Shea, Satish Seemar.
9.25pm: Handicap (TB) Dh190,000 (D) 1,600m
Winner: Golden Goal, Pat Dobbs, Doug Watson.
RACECARD
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F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
Company%C2%A0profile
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MATCH INFO
France 3
Umtiti (8'), Griezmann (29' pen), Dembele (63')
Italy 1
Bonucci (36')
Six pitfalls to avoid when trading company stocks
Following fashion
Investing is cyclical, buying last year's winners often means holding this year's losers.
Losing your balance
You end up with too much exposure to an individual company or sector that has taken your fancy.
Being over active
If you chop and change your portfolio too often, dealing charges will eat up your gains.
Running your losers
Investors hate admitting mistakes and hold onto bad stocks hoping they will come good.
Selling in a panic
If you sell up when the market drops, you have locked yourself out of the recovery.
Timing the market
Even the best investor in the world cannot consistently call market movements.
The biog
Simon Nadim has completed 7,000 dives.
The hardest dive in the UAE is the German U-boat 110m down off the Fujairah coast.
As a child, he loved the documentaries of Jacques Cousteau
He also led a team that discovered the long-lost portion of the Ines oil tanker.
If you are interested in diving, he runs the XR Hub Dive Centre in Fujairah
COMPANY%20PROFILE
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More from Rashmee Roshan Lall
The story of Edge
Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, established Edge in 2019.
It brought together 25 state-owned and independent companies specialising in weapons systems, cyber protection and electronic warfare.
Edge has an annual revenue of $5 billion and employs more than 12,000 people.
Some of the companies include Nimr, a maker of armoured vehicles, Caracal, which manufactures guns and ammunitions company, Lahab
The biog
Date of birth: 27 May, 1995
Place of birth: Dubai, UAE
Status: Single
School: Al Ittihad private school in Al Mamzar
University: University of Sharjah
Degree: Renewable and Sustainable Energy
Hobby: I enjoy travelling a lot, not just for fun, but I like to cross things off my bucket list and the map and do something there like a 'green project'.
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
Killing of Qassem Suleimani
UAE currency: the story behind the money in your pockets
Global Fungi Facts
• Scientists estimate there could be as many as 3 million fungal species globally
• Only about 160,000 have been officially described leaving around 90% undiscovered
• Fungi account for roughly 90% of Earth's unknown biodiversity
• Forest fungi help tackle climate change, absorbing up to 36% of global fossil fuel emissions annually and storing around 5 billion tonnes of carbon in the planet's topsoil
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