This was for the Grand Rapids, MI Economics Club
In a vote that shocked the world, the UK voted to exit the European Union and disrupted the trend towards global integration. Quickly, these dominoes fell: UK PM David Cameron resigned, global stock markets swooned, and UK real estate prices fell the most in 7 years.
Will this continue? When will Article 50 be triggered and will Prime Minister Theresa May be forced into a "hard Brexit"? Will other countries vote to the leave the EU? How will this impact the US and the global economy?
As a realistic optimist, Andy sees potential good solutions coming out of bad situations. By using a combination of humor, anecdotes and stories, he engages audiences and helps them understand the big picture on the mash-up of business, politics and economics. As a journalist, author and researcher, Andy Busch draws on 30 years of experience to give your audience the tools they need to understand the political economy and political events like Brexit.
BTW, here's an article he wrote just after the vote occurred:
http://www.andrewbusch.com/2016/06/28/brexit-what-happened-and-how-it-will-impact-your-business/2017
11. www.andrewbusch.com
"We are not only each other's largest investors in each
of our countries, one to the other, but the fact is that
every day almost one million people go to work in
America for British companies that are in the United
States, just as more than one million people go to work
here in Great Britain for American companies that are
here. So we are enormously tied together, obviously.
And we are committed to making both the U.S.-UK and
the U.S.-EU relationships even stronger drivers of our
prosperity."
US Secretary of State
John Kerry
23. www.andrewbusch.com
“There are limits to what monetary policy can and,
indeed, should, do. The burden must also fall on
fiscal and other policies to do their part to help
create conditions conducive to economic stability.”
SF Fed President John Williams
35. www.andrewbusch.com
“The UK would not be a big enough market to be
a priority for us in that case[Brexit]. As a drugs
market it is more important for us to launch in
France, Germany and Sweden than in the UK
because they adopt and pay for the drugs... The
UK is a challenge now but without the EU [it] will
get left behind…”
AstraZeneca’s Mene Pangalos
39. www.andrewbusch.com
'I think, as I was saying to you a little earlier, that
one of the issues is that a lot of people will invest
here in the UK because it is the UK in Europe.
If we were not in Europe, I think there would be
firms and companies who would be looking to
say, do they need to develop a mainland Europe
presence rather than a UK presence? So I think
there are definite benefits for us in economic
terms.'
PM Theresa May
1mth b4 vote
40. www.andrewbusch.com
PM Theresa May
4mths after vote
"There will be no unnecessary delays in invoking
Article 50. We will invoke it when we are ready. And
we will be ready soon. We will invoke Article 50 no
later than the end of March next year. It is not up to
the House of Commons to invoke Article 50, and it is
not up to the House of Lords. It is up to the
government to trigger Article 50 and the government
alone.”
49. www.andrewbusch.com
2016 Recap
Clinton:
biz tax hikes
build on regs
cap gains tax
no free trade
big alternatives
big infra
create pathway
enhance D-F
Trump:
biz tax cuts
reduce regs
full expensing
no free trade
big hydro carbon
big infra
build a wall
end D-F
DJT HRC