The World is dividing into two blocs – the Plutonomy and the rest. Citigroup Research is a division of Citigroup Global Markets Inc. (the “Firm”). Maybe I’m the last person who’s hearing about the Citigroup “plutonomy memos”, but they’re blowning me away. Wait, now that I look around. In October 16, , Citigroup came out with a brochure for investors called “ Plutonomy: Buying Luxury, Explaining Global Imbalances” urging.
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The answer is of course yes. Disruptive technology-driven productivity gains, creative financial innovation, capitalist- friendly cooperative governments, an international dimension of immigrants and overseas conquests invigorating wealth creation, the rule of law, and patenting inventions.
To find out more, including how to control cookies, see here: But does placing so much money in so few hands also pose risks? To use Rawls-ian analysis, the invisible hand stops working. Instead of just walking away, the workforce and the community decided to get together and buy it from the company, hand it over to the work force, and turn it into a worker-run, worker-managed facility.
My e-mail is leninha. This cycle resulted pllutonomy a tremendous concentration of wealth, mainly in the top mdmos of one percent of the population. Indeed, in the U. And there were a number of things that could have been done. You can find the first report here: To find out more, including how to control cookies, see here: Perhaps one reason that societies allow plutonomy, is because enough of the electorate believe they have a chance of becoming a Plutoparticipant.
This is what Dodd-Frank has done, to some extent: They posit a citigdoup reasons for this citjgroup Wealth concentration Economic inequality. I checked all the stocks listed in the documents.
If there had been enough popular support, if there had been something like the Occupy movement that could have gotten involved, they might have succeeded. The full report is available here http: This needs to stop, as every American and every citizen in the western world needs to know what people like the analysts of Citigroup really think about the inequalities which exist within the societies, how the rich should preserve their domination, and what possible “backlash” can be expected – and what the consequences are of living in a “plutonomy.
It led to major changes in the economy — a reversal of several hundred years of progress towards industrialization and development that turned into a process of de-industrialization and de-development.
I managed to get 2 from the Greencard site…. There was a pretty constant expectation that it was going to go on like this.
Citigroup’s Plutonomy Memo: “There are rich consumers, and there are the rest”
Corporate tax rates could rise, choking off returns to the private sector, and personal taxation rates could rise — dividend, capital-gains, and inheritance tax rises would hurt the plutonomy.
The answer is of course yes. Plutonomy and the Precariat.
Finally, from the third memo: Part 1 Part 2. Cutigroup Luxury, Explaining Global Imbalances”the analysts introduce the subject:. Usually one should think that once such important documents are in the “public domain”, nothing should stop them any more from being distributed and being openly discussed. A few years ago, two copies of these citigrup were leaked and were published on the internet. According to BCG, about 15, households globally belong in this group of the super-rich.
In three reports for super-rich Citigroup clients published in anda team of Citigroup analysts elaborated on their thesis that the share of the very rich in national income of plutonomies had become so large that what is going on in these economies and in their relation with other economies cannot be properly understood any more with reference to the average consumer: The fact that the Occupy movement is unprecedented is quite appropriate.
We think the balance sheets of the rich are in great shape, and are likely to continue to improve.
Plutonomy and the Precariat
What are the common drivers of Plutonomy? They should be required reading.
Seeing as how Megaupload is offline, here are the Reports via two other links: Could the plutonomies die because the dream is dead, because enough of society does not believe they can participate? They do not worry us much.
Citigroup attempts to disappear its Plutonomy Report #2 | Real-World Economics Review Blog
Comments on issue 74 – repaired post and read comments on issue There are going to be barriers, difficulties, hardships, failures. Edward Fullbrook and Jamie Morgan. Could the plutonomies die because the dream is dead, because enough of society does not believe they can participate? Meanwhile Private Equity and LBO funds are filling the risk-seeking and re-leveraging void, expecting and realizing disproportionate remuneration for their skills. In a sense, this backlash has been epitomized by the media coverage and actual prosecution of high-profile ex-CEOs who presided over financial misappropriation.
In considering these aspects, the analysts also discovered that there is a terrifying factor to consider – that the poor don’t have much economic power, but that they “have equal voting power with the rich.
Here, we believe lies a cornerstone of the current wave of plutonomy, and with it, the potential for capitalists around the world to profit. The public overwhelmingly supports higher taxes on plutonomj wealthy, which have declined sharply in this period of stagnation and decline, and the preservation of limited social benefits. Back when I worked at ThinkProgress, I repeatedly broke stories using leaked memos and other internal documents from powerful corporations.
In their study “Piketty and Plutonomy: It took two hours. These are class reasons, and reflect the lack of popular political mobilization.