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 other, of course, is environmental catastrophe. The World is dividing into two blocs — the Plutonomy and the rest. Wealth concentration Economic inequality.
Citigroup’s plutonomy memos | mathbabe
You can see it right now, in fact. Fortunately for the investors, the analysts at Citigroup also considered these points and started to think about the plebs who, as history shows, have a tendency to be unruly, if poor. You are plutonoym using your Twitter account. That changed dramatically in the s. At the other extreme, insourcing, or allowing mass immigration, which might price domestic workers out of jobs, leads to calls for anti-immigration policies, at worst championed by those on the far right.
Download a copy of these memos. However, they warn that in the short-term there is potential for a backlash. Finally, from the third memo: Over one million full-text copies of RWER papers are downloaded per year.
Citigroup seems to be perfectly happy with the rule of the rich. So the analysts started to think about “losers” citigrouup, as they call them, or the people who could need a bath, as Newt Gingrich would call it.
Plutonomy and the Precariat
Along with that came a significant shift of the economy from productive enterprise — producing things people need or could use — to financial manipulation. Leave a Reply Cancel reply Enter your comment here But if voters feel they cannot participate, they are more likely to divide up the wealth pie, rather than aspire to being truly rich. For example, inUK government withdrawal of financial support bankrupted Railtrack, the UK rail operator, effectively re-nationalizing railway assets on the cheap.
As far as the deficit is concerned, the public has opinions. OWSfinancerant. Almost all the smart folks we know — our investors, our colleagues, our friends in academia, politicians believe in some variant of these two stories.
But if voters feel they cannot participate, they are more likely to divide up the wealth pie, rather than aspire to being truly rich. Plutonomies have occurred before in sixteenth century Spain, in seventeenth century Holland, the Gilded Age and the Roaring Twenties in the U.
The blog “No Apparent Motive” reported that they received a take-down letter from Citigroup’s lawyers after they posted a download plktonomy to a copy of one of the memos:. While this tends to be something more often seen in countries with a shorter history of capitalist democracy, such as the Ukraine attempts to undo prior privatizationsor Russia where some of our clients believe events surrounding Ciitgroup Khodorovsky to be a form of nationalizationit can happen in the strangest of places.
My email is civileconomies gmail.
This site uses Akismet to reduce spam. You can find the plutonony report here: The Occupy movement has been an extremely exciting development. The rich have come back richer than ever. When the s came pluutonomy, there were sudden and sharp changes: Why kill it off, if you can join pluutonomy However, that point is not now.
Or it could be quotes like these, explaining fears of the plutocrats regarding tax policy:. Climate Change and Nuclear Weapons.
Often these wealth waves involve great complexity, exploited best by the rich and educated of the time. Firstly, if we are right, that plutonomy is to blame for many of the apparent conundrums that exist around the world, such as negative savings, current account deficits, no consumer recession despite high oil prices or weak consumer sentiment, then so long as the rich continue to get richer, the likelihood of these conundrums resolving themselves through traditionally disruptive means currency collapses, consumer recessions etc looks low.
Top Blog at WordPress. The idea of worker takeovers is something which is, incidentally, very much on the agenda today, and we should keep it in mind. It took two hours. Doubtful about the value of the vote though, when it can be so easily manipulated by citigrkup, as in the Clinton-Trump election.
Citigroup’s Plutonomy Memo: “There are rich consumers, and there are the rest”
The first, and probably most potent, is through a labor backlash. They present themselves as looney, as well. BCG expects the trend toward more concentrated wealth to continue unabated.
You are commenting using your Twitter account. Both reports were leaked and made available on the WEB. The workforce and the union offered to buy it, take it over, and run it themselves.
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Notify me of new posts via email. 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 activism plutlnomy those years, after a pretty dismal decade, really civilized the country in lots of ways that are permanent.
What might cause the elastic to snap back?