Page 3 - May-June-guide BI

MICHIGAN ASSOCIATION OF CERTIFIED PUBLIC ACCOUNTANTS | MAY – JUNE 2017
We’re in a different game now
Until 2016 rolled around, the globe was playing economics like checkers. A slowdown meant easing the money supply. Trade and borders were both generally open. Inlation was low or negative. Raising taxes meant providing programs. Regulating meant protecting the public.
This was status-quo global economics, until it suddenly wasn’t, as decided by the voting populace.
In Europe, there was Brexit, and the Italian Prime Minister stepping down. In the US, voters decided a billionaire with a populist message seemed better than the establishment. And in a blink of an eye, as Malcolm Gladwell puts it, the world reached a 'tipping point,' and the game lipped over. We were playing checkers, and the new game is chess.
In chess,
you can simply react, or you can plan.
Taxes will probably change. Government will change. Trade policy will change. Military positions will change. Inlation will change. In fact, the only certainty for 2017 is that things will change.
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