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Is having a "global economy" a good thing for America?

  1. dashingscorpio profile image87
    dashingscorpioposted 20 months ago

    Is having a "global economy" a good thing for America?

    Voters in the United Kingdom chose to Brexit from the European Union and the world markets are reacting. Essentially down plummeted affecting 401ks and IRA accounts throughout the U.S. not because of anything going on in (our economy). We saw something similar when Greece was facing bankruptcy and when China's economy showed signs of slowing down. Are our nations economies around the world too reliant and intertwined with one another? There seems to be instant panic and a global chain reaction whenever any country has problems.

    https://usercontent1.hubstatic.com/13073894_f260.jpg

  2. bradmasterOCcal profile image31
    bradmasterOCcalposted 20 months ago

    What it tells you is that Britain was the key member of the EU keeping it together. The markets are always jittery of any change, and you can't look at the instantaneous to determine the long term effect.

    Britain was never really in the EU, and for the last 30 of so years they have not seen an advantage even worth the pretense of continuing in the EU.

    What real advantage did Britain get from the EU?
    What disadvantages did Britain get from the EU? The loss of their sovereignty and the ability to make decisions directly for Britain and its people. With so many of the EU countries failing that just means Britain has to help bail them out.

    Britain also kept the pound, instead of the Euro.
    Can we really extrapolate on what are the consequences of Britain leaving the EU with such a short lapse of time from its vote to leave the EU?
    Most of the US is tied to globalization as most of our giant companies are super global monopolies, and most of their products are overseas. We borrow trillions from China. So is Britain leaving the EU really our biggest problem, or just one of many that we have built because the US companies are too big for the government to manage.
    The US has been in decline since the 70s and we are doing a pretty good job of continuing that decline even after 2008. So don't blame Britain for our bad and fragile economy.

    1. dashingscorpio profile image87
      dashingscorpioposted 20 months agoin reply to this

      I'm not blaming Britain.
      My question is about the U.S. economy relying too much on what goes on in other countries. You made an excellent point: "Britain also kept the pound, instead of the Euro".
      They were never "all in".

    2. bradmasterOCcal profile image31
      bradmasterOCcalposted 20 months agoin reply to this

      We agree then that we have created our own bigger problems?
      BTW, the British didn't really like the Metric System either. smile

  3. jackclee lm profile image81
    jackclee lmposted 20 months ago

    The response is don't panic. That is exactly what the financial markets wants. Any time where there is unrest, the markets goes up and down and the rich gets richer while the average investor loses. Don't fall for it. What happens to the UK and the EU does not affect our markets that much.

    1. dashingscorpio profile image87
      dashingscorpioposted 20 months agoin reply to this

      Great point!
      The markets are always {looking for a reason} to go up or down. An oil rig might explode today and gas prices would go up instantly even though current supply isn't affected.
      Markets are driven by fears of what {might happen}.

    2. bradmasterOCcal profile image31
      bradmasterOCcalposted 20 months agoin reply to this

      Jack
      I agree. Slick people are making millions on this predictable panic. It is like having another market bubble to rape and pillage. smile

  4. tamarawilhite profile image92
    tamarawilhiteposted 20 months ago

    You don't have to have trade agreements to have international trade. The EU trades with China and doesn't have a trade agreement with it.
    You don't have to have regional trade unions to have international trade or business.
    So you can have a global economy made up of many nations without having to give up national sovereignty to an EU or NAFTA. But saying trade dies without a super-national organization is a way that organization can generate fear to justify its growing power.

 
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