Home » The Watercooler for 11/02/09 5:00 PM
The Watercooler for 11/02/09 5:00 PM
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London has officially dethroned New York as the world's top financial center, according to an index released this month by the Geneva-based World Economic Forum.
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Could it be that second rate x-colonial power so many here like to denigrate? Yes....that tiny little island of seafarers that extended her power to every corner of the globe in her hey day and as opposed to some so called "super powers" of today, at least she made the trains run on time in countries that didnt even know what a train was at one time..............
Rule Britannia.................youll outlive all the wannabes.
see: Chinua Achebe Things Fall Apart . . . .
And you kinda have to wonder about a super power that fights wars for the right to sell opium to Chinese peasants.
- I don't really appreciate the appeal of the United States, either.
By Tom Bearse on Nov 2, 2009 9:29 PM ESTThe founding fathers were pretty impressive for slave owners, and I like many of the ideas behind the Constitution, although a charter so open to interpretation decreases in value. The second amendment has helped to foster a very violent gun culture built around the right to bear arms, though.
Overall, the American experiment has fallen woefully short in very significant ways. Personally, I'm hoping to discover a reasonably opportune time to emigrate.
- Not rocket science but reading the financial press does require a little more than cotton upstairs.
By cChal on Nov 2, 2009 8:29 PM ESTSame Business Week article that Mike quoted but didn't leave a link....rather, he went for the sensational headline as the article itself provides context:
The other headline news—though perhaps not as surprising—was that the U.S. fell from No. 1 in 2008 to No. 3 this year. While the country is still by far the world's wealthiest, financial instability and a noticeably weakened banking sector pulled down its scores. The No. 2-ranked country, Australia, jumped nine rungs in the rankings, thanks to its greater financial stability, low sovereign debt, and ready access to consumer credit.
France and Germany fall out of top 10
The results
of the study will undoubtedly fuel the ongoing debate as to whether
London or New York is the top dog in global finance and markets.
Britain's elevation to No. 1 could be short-lived. The country
continues to be weighed down by recession, while the U.S. reported a
return to growth in gross domestic product during the third quarter of
2009.
Britain's institutional environment also could weigh on its ranking next year: The government has been criticized in recent months for excessive intervention in the financial sector, and there is rising concern over increased regulation and higher tax rates, which could encourage London-based hedge funds and other financial intermediaries to move elsewhere.
To be sure, the total scores for most developed nations fell sharply, due to the effects of the credit crisis—and those that suffered the most from lowered financial stability were among the largest industrialized economies. France and Germany, which held top slots in last year's index, fell out of the top 10 altogether, landing at 11th and 12th place, respectively. The sheer size and global nature of these countries' financial systems exposed them more than others to the effects of the downturn.
"Could it be that second rate x-colonial power so many here like to denigrate?"
No one here routinely denigrates Great Britain. From time to time you receive a well-earned history lesson in response to your constant denigration of this country.
"Yes....that tiny little island of seafarers that extended her power to every corner of the globe in her hey day and as opposed to some so called "super powers" of today."-----
and surely you are aware of HOW Great Britain came to extend her power to every corner of the globe in her *hay day*?
Mike, clearly you are abysmally uniformed about the British banking system. Hilarious, though. Hope you didn't trip and fall while running to the computer with the little tidbit. You haven't a clue as to its contextual message.
Stop panting....start reading/researching the British banking system and economy.
"rule Brittania"....lol.
the world, though much has improved. How about no one ruling the world? Wouldn't that be a change.
Here'a column from one of Philly's better sports writers. He opens up the soul of what it's been rooting for the Phillies and echos the insecurity the city has living in the shadow of New York.
Bill Conlin: Ghosts of World Series past haunt Phillies
ELIMINATION.
It is the biggest word in baseball's minimalist lexicon. And the baddest.
For the runner-up in the most grueling journey in team sports, there truly is no tomorrow. The night you lose for the fourth time in a World Series, there is an exquisitely painful finality. The winners half-drown themselves in champagne, most of it sprayed, and beer, most of it consumed. Then they travel down the main streets of their adoring cities, basking in the adulation that only a million or so of your fans can bestow...
They are surrounded by the ghosts of other elimination games...
...Is that you, Joe Carter, rattling your chains while a voice in the background shrills, "Touch 'em all, Joe, you'll never hit a bigger one."
...We see you, Eddie Murray, admiring your second homer of Game 5 in 1983, a towering moonshot off Sr Charles Hudson that officially ended the five-season Pete Rose Era....
...The brink. Welcome to the abyss half of history's World Series teams have faced. Hello darkness our old friend...
Does "Alex Rodriguez, Mr. November," have that special ring?
excerpted
And BTW, "making the trains runs on time" was more famous praise of Benito Mussolini. Never heard the Brits lay claim to that one, lol!
Genuine leadership means setting the agenda. It means taking tough stands. Leadership is a quality Barack Obama showed on the campaign trail. It is a quality he has failed to show as president.
http://www.huffingtonpost.com/drew-westen/leadership-obama-style_b_342269.html
Another issue where presidential leadership is lacking. Obama should fire his ass.
These thugs defy him because they know he won't do anything about it. He's scared s**less of his generals
http://www.huffingtonpost.com/aaron-belkin/marine-commandant-defies_b_342532.html
the deep end, but then so have you. NADA NADA and so it goes.
No, Obama hasn't failed in leadership. He's not scared of his generals, and he hasn't failed to create an agenda. Because you say it, doesn't make it so. You are not captain of the Enterprise.
SHEESH!
NY Yankees 1, Philadelphia 3
Go Phils!
~~~~~
According to a diary at DKos with a link to The Hill ~ Harry Reid has Lieberman in line ~ no filibuster. Good golly ~ Ned Lamont, who should have been the Senator from CT, coming up on Rachel.
~~~~~
Nite all.
Philadelphia 8, NY Yankees 6
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