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View Poll Results: Financial Capital of the World?
London 80 36.20%
New York 141 63.80%
Voters: 221. You may not vote on this poll

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Old 07-31-2013, 02:53 AM
 
Location: El Sereno, Los Angeles, CA
733 posts, read 712,074 times
Reputation: 411

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It seems pretty 50/50 to me

Last edited by Tlaneloli; 07-31-2013 at 03:02 AM..
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Old 07-31-2013, 05:16 AM
 
250 posts, read 423,550 times
Reputation: 350
Reading through this and some of the threads over at the NY forums, I have to admire some New Yorkers'/US citizens' near fanatical dedication to their favorite home city.


In some cases it almost seems like a case study in Poe's law:

News: London edges ahead of New York City as global financial capital on all indices. Wall Street firms relocate headquarters to the Square Mile.

New Yorker: London? That grotty little backwater with men sipping tea and wearing bowler hats? Get real.

News: New York City financial 'smart money' exodus accelerates. Mayor Bloomberg urges calm as S&P 500 retraces all 2013 gains. Panic ensues in trading pits as 75 trillion USD in CME derivatives start unravelling. COMEX defaults on physical gold deliveries.

New Yorker: Undoubtedly New York. No question.

News: JP Morgan Chase announces single intra-day trading losses in excess of 125 billion USD. Circuit breakers activated in futures and options market. S&P 500 and DJIA fall through critical support and retreat to pre-2010 levels. BAC stock price falls to zero.

New Yorker: USA!! USA!!

News: Widespread rioting and looting engulfs Manhattan as banking terminals deactivated. Half of Brooklyn consumed by fire. Food shortages and power outages throughout Washington Heights and Upper West Side accelerate population exodus.

New Yorker: We're still winning!

News: Manhattan, Queens and New Jersey evacuated due to escalating violence. DHS scapegoats right wing Christian groups and indigenous libertarian movements on circumstantial evidence. FEMA protocols activated. Teleprompter declares national state of emergency and martial law over eastern seaboard of USA.

New Yorker: ... Okay, we'll call it a draw.




Last edited by Citizen401; 07-31-2013 at 06:37 AM..
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Old 07-31-2013, 12:52 PM
 
Location: East Coast of the United States
15,722 posts, read 18,329,302 times
Reputation: 11251
Quote:
Originally Posted by Citizen401 View Post
Reading through this and some of the threads over at the NY forums, I have to admire some New Yorkers'/US citizens' near fanatical dedication to their favorite home city.


In some cases it almost seems like a case study in Poe's law:

News: London edges ahead of New York City as global financial capital on all indices. Wall Street firms relocate headquarters to the Square Mile.

New Yorker: London? That grotty little backwater with men sipping tea and wearing bowler hats? Get real.

News: New York City financial 'smart money' exodus accelerates. Mayor Bloomberg urges calm as S&P 500 retraces all 2013 gains. Panic ensues in trading pits as 75 trillion USD in CME derivatives start unravelling. COMEX defaults on physical gold deliveries.

New Yorker: Undoubtedly New York. No question.

News: JP Morgan Chase announces single intra-day trading losses in excess of 125 billion USD. Circuit breakers activated in futures and options market. S&P 500 and DJIA fall through critical support and retreat to pre-2010 levels. BAC stock price falls to zero.

New Yorker: USA!! USA!!

News: Widespread rioting and looting engulfs Manhattan as banking terminals deactivated. Half of Brooklyn consumed by fire. Food shortages and power outages throughout Washington Heights and Upper West Side accelerate population exodus.

New Yorker: We're still winning!

News: Manhattan, Queens and New Jersey evacuated due to escalating violence. DHS scapegoats right wing Christian groups and indigenous libertarian movements on circumstantial evidence. FEMA protocols activated. Teleprompter declares national state of emergency and martial law over eastern seaboard of USA.

New Yorker: ... Okay, we'll call it a draw.


Hmm.. And your point in posting this is?
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Old 07-31-2013, 12:53 PM
 
Location: North West Northern Ireland.
20,695 posts, read 18,679,631 times
Reputation: 3107
Quote:
Originally Posted by Ever Adrift View Post
C.) None of the above due to a flawed premise.

Globalization is making economic power more diffuse, not more concentrated, at least in terms of metropolitan powers. Sure, there are a handful of all-around super cities like New York, London and Tokyo but as development continues many cities will become 'specialists' focused on filling particular niches in the global economy and/or linking cities in particular regions together and facilitating their access to global markets. A century from now New York, London and Tokyo will be mentioned in the same breath as Singapore, Bangkok, Mumbai, Johannesburg, Sao Paulo, Istanbul, Dubai, Buenos Aires and so on...
I don't think so.

It is all about the anglophone world.
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Old 07-31-2013, 03:10 PM
 
520 posts, read 832,182 times
Reputation: 927
New York is certainly the financial capital, London doesn't beat the sheer amount of capital. Of course the UK, which I adore, is one of the most fervently patriotic countries on the planet and if it makes her posters feel better, London is the banking capital of the world.

However, London is called the financial capital of the world by, uh, the City of London Corporation. So there's that.

Last edited by lerner; 07-31-2013 at 03:21 PM..
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Old 07-31-2013, 03:25 PM
 
159 posts, read 171,321 times
Reputation: 127
Certainly London. More international in the financial markets than NY.
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Old 07-31-2013, 03:25 PM
 
Location: Satellite Of Love
296 posts, read 377,005 times
Reputation: 309
^^^ lerner's post is the wrong way round. The investment banks in NYC are bigger and do more business than those in London, but there is far far greater volume of capital flowing through London via the f/x and interest rate derivatives market, much more so than tokyo and NYC combined.
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Old 07-31-2013, 03:54 PM
 
Location: In the heights
20,405 posts, read 21,922,376 times
Reputation: 10383
Quote:
Originally Posted by Mac15 View Post
I don't think so.

It is all about the anglophone world.
It was in large part about the anglophone world, but that has been shifting for quite a while. It's still much about the anglophone world today, just not as much as it was perhaps a decade or even half a decade ago.
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Old 07-31-2013, 03:58 PM
 
Location: East Coast of the United States
15,722 posts, read 18,329,302 times
Reputation: 11251
Again, I ask what is the point of posting these dated articles? (I guess it's a joke?)

The United States stock market is pushing record highs right now. - It is up more than 18% since the beginning of this year alone.
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Old 07-31-2013, 04:22 PM
 
Location: Satellite Of Love
296 posts, read 377,005 times
Reputation: 309
^^^ The current stock prices at 'record highs' are being mainly driven by CME futures contracts. These are based in Chicago, not New York. Equity exchanges belong to the last century and even so, the NYSE on wall street is little more than a tv studio facade nowadays. The actual servers for it are now based in NJ
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