Will the US Financial Sector follow the fate of the Tech sector?

Discussion in 'Politics, Religion, Social Issues' started by rasmasyean, Oct 10, 2008.

  1. rasmasyean macrumors 6502a

    Joined:
    Jul 11, 2008
    #1
    Hey, anyone remember the crash/slowdown/layoffs in the "dot-com crash"?

    Afterward, that crash took out lots of the tech sector and it seems that Asia took away most of those jobs and gave them lots of prosperity and limelight. USA never really recovered from that crash and all we really have to show for it is a handful of Ad generating web sites that had "notable growth".

    What do you think will happen to financials? Do you think the US will lose a lot of this business to overseas in a similar pattern? If so, who do you think will take over that sector?
     
  2. Desertrat macrumors newbie

    Joined:
    Jul 4, 2003
    Location:
    Terlingua, Texas
    #2
    Now that lending risks have been transferred to the US taxpayer by Congress, there oughta be some levelling out in the financials. Note that the other G7 countries have been doing the same transfer to their own taxpayers. Probably be a year or more before anything definitive can be said, though.

    As far as financial power, that's been moving toward places like Beijing, Singapore and the Persian Gulf for quite some time. However, it'll be a while before they fully outdo NY and London--but they're on their way.

    'Rat
     
  3. 63dot macrumors 603

    63dot

    Joined:
    Jun 12, 2006
    Location:
    norcal
    #3
    First dot.bomb, and then the housing meltdown. I certainly hope the financial sector doesn't hit the lows those two had.

    I heard plenty of doomsday predictions regarding dot.bomb and real estate long before it happened. But there was not the same level of gloom over the financial sector. I still hear high hopes of a recovery, though slow, sometime in the next few years. A full recovery is probably not seen in the next president's first term regardless of who wins.
     
  4. 63dot macrumors 603

    63dot

    Joined:
    Jun 12, 2006
    Location:
    norcal
    #4
    I think you are right on that one, and you know over the last many years you and I (as jefhatfield) have had our differences on the political landscape. What I don't know for sure is if the balance of power will be better or worse for the world.
     

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