Saturday, October 28, 2006

londonistan overtakes nyc as money capital

oct 28th, 2006

the economist recently crowed about this as well. the limeys are circulating their ill-gotten (euphemism for 'stolen') gains nicely.

food for thought: the industrial revolution in limey-land was the direct result of venture capital circulating in the UK as part of the loot from bengal. the catalyst was the money pouring in. when there was money to be made (as in silicon valley more recently) innovation appeared. odd coincidence, eh? 1757, battle of plassey and limey conquest of bengal. 1762, spinning jenny; 1766, steam engine, etc etc. (the dates are a little approximate as i am typing from memory. plassey is correct).

they also had an interesting rationale for it. they said the limeys deregulated the finance industry some 25-30 years ago and that was what caused the industry to take off, to attract overseas talent, and to generally prosper. the financial district is called the City of London.

eventually the center of gravity will shift to asia. hong kong, then singapore, and perhaps finally mumbai. that is, if mumbai hasn't been completely taken over by mohammedan mafiosi by then.

http://www.nytimes.com/2006/10/27/business/worldbusiness/27london.html?em&ex=1162180800&en=5e194d6d000e4478&ei=5087%0A

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