For those of us who enjoy a voyeuristic fascination with the US political process, the 2008 presidential election continues to satisfy beyond all expectation, even for an election that will likely choose a leader who, for better or worse, will be inheriting a mantle similar in many ways to that of Franklin Delano Roosevelt.
The flip flops have been breathtaking.
The Republicans
Not all that long ago, Rudy Guiliani was among the emotional and poll tested frontrunners for the Republicans, whereas John McCain was floundering in terms of money and momentum, with Mitt Romney clearly the annointed choice of the powerful conservative wing of the party.
Mike Huckabee was appealing for his personality and no apology backwoods persona, with Fred Thompson a polished 
version of the same with a faux-Reaganesque patina. Remember when Fred announced his candidacy on late night television to breathless anticipation? And of course, Mike Bloomberg stood ready to come in to a possibly brokered convention to save the day. Ron Paul always had the mark of a third party candidate in this party of ultimate insiders.
Cut to February 2008, with Mike Huckabee having morphed into the evangelical alternative to the front running John McCain who is anathema to the conservative and religious base of the Republicans, excepting his pronounced hawkishness for war. Thompson turned out to be asleep on the porch, and Romney and Guiliani folded their cards faster than a three card monty game when the police come round the corner. The Guiliani collapse was breath-taking, possibly setting a record for the most money spent to obtain one delegate. Rudy may find a life as the designated Homeland Security Chief, but he would probably prefer attorney general. Romney's fold was most likely a deal of sorts, with some big backing having shifted to McCain behind the scenes.
The Democrats
What started out as the most motley collection of candidates in recent memory has sorted itself out to two frontrunners, and now appears headed for a brokered convention with the opportunity for controversy on the level of the 2000 US elections, hanging chads and all. A brokered convention is one is which the candidate is not chosen by the primary votes, but in back room deal-making by the party politicos. 
Barack Obama came seemingly out of nowhere, and having gathered significant backing from key elements of the Democratic party (celebrities and Kennedys), has nudged the Lady Hillary sufficiently to make her weep quietly (although we would view those tears with the same caution as we would the rattles from a desert viper).
In primary election delegates Hillary and Obama are running neck and neck, with Obama having pulled ahead in the donations area. This is a remarkable turn of events given the Clinton reputation for pulling in the big donation bucks. And the 'first black president' Bill Clinton turned into a pale comparison of his former self when his condescending remarks sounded presumptuous. There is an obvious Clinton fatigue in the country which the Democrats would do well to observe.
This election is remniscent of the 1976 elections that catapulted the relatively unknown Jimmy Carter into the Presidency, as the after shocks and weariness of the Nixon presidency drove the public to cast their votes for CHANGE. After Bush, we're there again.
Time to start keeping a close eye now on the Democratic delegate counts. And be aware that no matter how the actual primary elections turn out, the democratic contender may very well be chosen at the convention by party regulars who are unelected and not obligated by any of these pre-election votes. Won't it be something if Obama goes into the convention with the delegates, and the Clintons manage to deal for the actual nomination behind closed doors? After all, Slick Willy himself is a super delegate. McCain could ask for no better break.
Let the games begin!
bankers from the Group of Seven industrialised nations discussed collective action to calm markets if price moves become irrational, Eurogroup Chairman Jean-Claude Juncker was quoted as saying on Monday.
