New York may fade as a financial center
- Thread starter wilburbear
- Start date
London, where they use the terrorism law against Icelandic banks and others but not against terrorists.
LOndon where hedge funds lost billions because of Lehman collapse but did not in New York because of government regulation.
London where the government organise anti "poverty" demonstrations on the streets.
The big surprise is that sterling has held up so well against countries like Australia with no government debt.
The Uk is bankrupt, financial services have overcapicity like engineering in the early 80's, who is going to pay for all those on welfare while there is still unlimited immigration?
I wouldn't be so certain. Usually the "head" of the financial world lies in the country with the biggest economy. It was London 2 centuries ago. NY 100 years ago - to present. Maybe Shanghai in the new coming century?
New York will always be a powerhouse but they might play London's current role in the future. I get what you mean but I just want to make clear of the definition of "head".
I agree.
Yeah London is pretty badass. The Brits invented the f*cking Stock Exchange system for christ sake. The Brits were the market makers for Gold which pretty much means they "owned" and supported all fiscal currency system indirectly.
If you talk about "the action" then its wallstreet. If you talk about real power, then i have to agree London is way up there.
the financial center of the world is several clusters of high-speed computers
and no one knows where 'all' of them are
and no one knows where 'all' of them are