Let them eat Fish ’n’ Chips

Banker-bashing was a favorite sport in London for many years. Every day you could read stories in the papers about arrogant bankers, who were driving prices of rents (and everything else) up and “original” Londoners out of the city. Bankers definitely deserved higher taxes…

After Armageddon struck last summer, a recession is not far and bankers are leaving London by the thousands. Given that the London GDP comes mostly from financial services, fewer bankers means a substantially lower demand in the city. And this will not stop in lower rents. Fewer bankers means less money for everything, from tax revenues to cabs. Shops that were counting on symbiosis (or parasitism) with the detested fat cats, will now suffer. High margin quality food (even in supermarkets like M&S) is no longer a good idea. Well, “original” Londoners will be back soon to reclaim their territory, let them eat fish’n’chips.