Monday, March 30, 2009

Changing landscape for banks

This is an amazing graphical representation of the shift in the global banking landscape put together by the good people at the Financial Times.





Consider that 11 of the 20 largest financial institutions in the world were based in the US (and 15 of 20 were either US or UK based). Today that number has fallen to just 3 of 20 and the three largest banks are now based in China.





Now this probably signals that China has experienced a substantial asset bubble and that some US banks may have suffered excessively, but it's still a stunning swing in 10 short years.


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Does this sound like anywhere you've seen recently (hint the city name starts with a W and rhymes with down)?

"The county's population about doubled during the housing boom, to some 100,000 residents in 2008 from roughly 55,000 in 2000. As people moved in, starter homes and shopping centers rose among worn barns and silos.

Now, as the housing bust and recession has turned the exurbs from engines of growth to economic laggards, many of these families have the worst of both worlds. They are still on the fringes but have no equity. In many cases the amenities they hoped would follow -- new shopping centers, movie theatres -- have ceased construction or opened with only a few stores."

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Finally a bit of good news. Apparently according to this projection if we can figure out a way to live for another 250 million years it appears that according to this map NNY will have the climate of Cuba thanks to continued continental drift. Sweet.





Cheers!






























1 comment:

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