Restoring that employment is a separate track than reducing globalization - that is to say: you can de-globalize and exit whatever trade treaties you like, but those jobs you lost to globalization will not magically come back.
Citizens have been sold a bill of goods in both directions when experts and politicians under-report the side effects and exaggerate the benefits.
I don't know the answer to that question; I think most economists would tell you that you cannot and you should not try.
Many people talk about "job creation", but a lot of what we hear about job creation is political mumbo jumbo tax reduction bullshit.
Here are a few things that may help job creation from a political or government point of view:
1. Municipalities, State, and the Federal government should rationalize their requirements for starting and running a business. The US is already much better about this than other countries, but reducing bureaucratic friction is always good. This doesn't mean less government, it means smarter government.
2. One quick hit job creator is government infrastructure spending. The US did this after 2008, and so far it's turned out pretty well!
3. In the future there may be fewer jobs. Society needs to start seriously considering localized post-scarcity economies.
So what mechanisms keep the price from instantly dropping if "everyone" agrees it should be lower? Market inefficiencies? Or lots of money betting on an upswing?
It's 5% more than the pound's loss in value next to the Dollar. But bear in mind that for the last 6 months Apple has simply swallowed a 20% reduction in their (and developers) UK App Store revenue. Look at it that way and we in the UK have enjoyed subsidized prices for most of the last year.
Someone should probably tell the worlds biggest futures exchange that their forward rate for GBPUSD is wrong then:
http://www.cmegroup.com/trading/fx/g10/british-pound.html
Methinks someone is talking nonsense
> o what mechanisms keep the price from instantly dropping if "everyone" agrees it should be lower?
It would drop. It hasn't, because that is not what the "experts" consensus is
Earlier today it was "strong buy".
The "financial analysts" are talking nonsense basically. If they're so sure it's going to drop further they should short the pound now, as much as they can. That in itself would cause the pound to drop, and then whatever effect they're predicting would be priced in.
Asymmetric uncertainty: some people believe there is a small chance that things could change for the better; in that case, the market will go up spectacularly and Apple will update their prices again. If that doesn’t happen, Apple doesn’t have to change their price again, which is, I presume, a fairly costly operation — but the equilibrium rate with an effective Brexit is lower than where it is now.
Once such situation is if the Parliament refuses to approve the referendum: Courts have rules their vote is needed, and most MPs were against Brexit beforehand.
OK, '25 percent due to Brexit' is going to get more clicks.
Are you arguing that the massive drop in the pound isn't due to Brexit? As far as I'm aware even the most rabid Farage-fanciers don't argue that, but argue it's a good thing (Cheaper exports! As though we don't import most of the raw materials, but that's not as snappy).
Where you get me arguing about the massive drop in the pound I don't know?
Apple sometimes eats the currency difference but if they think the currency value will trend down they generally don't.
I'm glad time have changed and there is less fanboism from Apple evangelists online. Their arguments were just obnoxious.
Percentages are not good measures of small quantities. 25 percent of zero is still zero.
It's not a meaningful number.
If you're dealing with small amounts, use small amounts. This is junk.
In this case, 25% doesn't matter. It's literally not a big deal. It's 50 pence.
There's another point to be made here that goes along the same lines as this horse-crap. It's this: shit it going to get weird when brexit happens.
Well, we don't know that yet. It's probably true, but we don't know for a fact yet.
But people post shit like this with bullshit click-bait titles, and then who knows what happens next? Why don't you just stop?
Why don't you fuck off until you know something for real is going to happen?
Here's the last 10 years: http://www.xe.com/currencycharts/?from=GBP&to=USD&view=10Y
There was a stable level at 1.95 in 2007-2008, then a drop and a sinusoid around 1.55 for 8 years, then another drop to lower levels after Brexit. We'll see where it goes from there.
(not that currency exchange rate is by any means a health indicator)
By contrast UK debt-to-GDP: 90% and falling, and a US-UK trade deal is likely very soon.
I'd rather own Sterling.
The earliest that this can happen is 2019, when the UK ceases to be a member of the EU. And since EU rules prohibit members from negotiating their own trade agreements, its probably going to be 2020 or later before a deal is signed.
Markets are not and never have been perfectly efficient. This is why traders are able to make money - they use information at their disposal that indicates the market value is incorrect to trade against that value. By definition if the market value was always correct that wouldn't be possible. So there is a feedback mechanism from information to market values, but there are many reasons those mechanisms might not work. There might be other more attractive targets for money that would otherwise be used to take advantage of that information. There might be a lack of liquidity preventing funds being deployed at all. There might be short term risks deterring long term bets on accepted trends.
Imagine if half the currency traders in the world stopped trading. All of a sudden all of those inputs into currency prices would no longer exist. Would currency prices continue being traded in exactly the same way and weeks or months later be at exactly the same value they would have been before? No, because losing all those inputs into the market would reduce the information flow that drives market value. To look at the opposite case, does the world have the ultimate possible expression of the ideal set of perfect currency traders using perfect information? Probably not, so the market value probably isn't what it would be if there were, i.e. the current market prices probably isn't at it's perfect ideal value.
https://www.google.co.uk/publicdata/explore?ds=ds22a34krhq5p...
Which has UK increasing, and Germany and the EU decreasing.
> and a US-UK trade deal is likely very soon.
Again, source for this, other than magical wishful-thinking? Considering
a) It's still illegal for the UK to make trade deals until it's out of the EU b) "Fast" is entirely based on a statement from Trump. Trump's statements are entirely meaningless because he always says exactly what the person wants to hear, regardless of complexities or whether it's actually achievable (allowing the press to trumpet the statements as fact). Trade deals are never fast because it's never a zero-sum game.
there's very little the EU can do to stop it
Sure, right after Mexico sends a check for the wall.
Debt to GDP does not look falling to me: https://www.ons.gov.uk/economy/governmentpublicsectorandtaxe...
Bear in Mind Apple have been eating the post-Brexit drop in their UK revenues with no price rises for the last 6 months.
So if the parent believes that Apple is overcharging but consumers just aren't seeing it properly, maybe if they overcharge even more, consumers will finally realize they've been bamboozled the whole time.
