Citigroup wrote memos in and addressed to investors, basically saying that the world is dividing up more and more into a small. The full report is available here MarPlutonomy-Report-Leaked-Citigroup-Memo-Part1. “Are they real?” That’s the question people usually ask when they hear for the first time of the “Citigroup Plutonomy Memos.” The sad truth is.
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There citu a lot of reasons for it. Why kill it off, if you can join it? What if the thoughts of OWS-protesters slip into the mainstream? Notify me of new comments via email. The World is dividing into two blocs — the Plutonomy and the rest. Buy plutonomy stocks list inside.
Citigroup’s plutonomy memos | mathbabe
It shows that they consider the end of crony capitalism corporations subsidized by government to be the equivalent of theft:. Little of this note should tally with conventional thinking. Asset booms, a rising profit share and favourable treatment by market-friendly governments have allowed the rich to prosper and become a greater share of the economy in the plutonomy countries.
I have these documents on a Public Dropbox folder, to share with anyone who wants them. Both reports were leaked mwmo made available on the WEB. Memi the beginning of the first memo “Plutonomy: The legislation, essentially bipartisan, drives new fiscal policies and tax changes, as well as the rules of corporate governance and deregulation.
To continue with the U. Take, for example, Citigroup. Post was not sent – check your email addresses! Plutonomy only works if the members of a society have the impression that they can still participate, despite the harsh inequalities, that they “can join it. There are signs around the world that society is unhappy with plutonomy — judging by how tight electoral races are.
My e-mail is leninha. Eight years after Kapur and his team developed and published their plutonomy thesis, the French economist Thomas Piketty achieved worldwide prominence with his book Capital in the Twenty-First Century. The Occupy movements could provide a mass base for trying to avert what amounts to a dagger pointed at the heart of the plutobomy. Continental Europe ex-Italy and Japan are in the egalitarian bloc.
They further see the luxury industry catering to plutonomists threatened by anti-corruption initiatives of China and India. Low-end developed market labor might not have much economic power, but it does have equal voting power with the rich. 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.
So long as economies continue to grow, and enough of the electorates feel that they are benefiting and getting rich in absolute terms, even if they are less well off in relative terms, there is little threat to Plutonomy in the U.
Plutonomy and the Precariat
Just send e-mail to gil —AT— merced-a. The political system began to dissolve. Thank you most sincerely for the links. Email required Address never made public. 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.
Citigroup wrote memos in and addressed to investors, basically saying that the world is dividing up more and more into a small group of rich people who drive the economy, surrounded by a large number of poor people whose economic interests can be safely ignored. And this is connected to a huge propaganda system, proudly and openly declared by the business world, to try to convince people that climate change is just a liberal hoax.
The s and s had been a period of enormous growth, the highest in American history, maybe in economic history.
Doubtful about the value of the vote though, when it can be so easily manipulated by media, as in the Clinton-Trump election.
The Uber-rich, the plutonomists, are likely to see net worth-income ratios surge, driving luxury consumption. But if voters feel they cannot participate, they are more likely to divide up the wealth pie, rather than aspire to being truly rich.
The Occupy movement has been an extremely exciting development. They present themselves as looney, as well. They should be required reading.
Plutonomy – Wikipedia
We think the balance sheets of the rich are in great shape, and are likely to continue to improve. The share of this group in global financial wealth would thus increase to 5. In and Citigroup issued two now notorious but highly significant reports for the exclusive use of its richest clients. Take a look at the polls.
This further inflates the asset markets in these plutonomies, enabling the rich there to lower their savings rates further, and pluttonomy their current account balances further. So what makes Citigroup want to shut this story up? The Rich Getting Richer” deals mainly with the consequences for investments which follow the analysis in the first memo.
In determining whether the use made of a work in any particular case is a fair use the factors to be considered shall include: Perhaps one reason that societies allow plutonomy, is because enough of the electorate believe they have a chance of becoming a Pluto-participant.
A third threat comes from the potential social backlash. There are rich consumers, few in number, but disproportionate in the gigantic slice of income and consumption they take. As for the rest, we set them adrift. 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.
In plutonomies the rich absorb a disproportionate chunk of the economy and have a massive impact on reported aggregate numbers like savings rates, current account deficits, consumption levels, etc.