In , Citigroup came out with a brochure for investors called “Plutonomy: Buying Luxury, Explaining Global Imbalances.” It urged investors. 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. The full report is available here MarPlutonomy-Report-Leaked-Citigroup-Memo-Part1.

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Through the s, as the decline was setting in, there were some important events that took place. The answer is of course yes.

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These are class reasons, and reflect the lack of popular political mobilization. They further see the luxury industry catering to plutonomists threatened by anti-corruption initiatives of China and India.

Views Read Edit View history. That is not true. The share of this group in global financial wealth would thus increase to 5.

Plutocrats repent, your end is near. The World is dividing into two blocs — the Plutonomy and the rest. And concentration of political power gives rise to legislation that increases and accelerates the cycle. Not long ago, President Barack Obama took over the auto industry, which was basically owned by the public. And the s accelerated it. The full report is available here http: Just to make it more surreal, while this option was being avoided, the Obama administration was sending its transportation secretary to Spain to get contracts for developing high-speed rail for the United States, which could have been done right in the rust belt, which is being closed down.

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Michael Moore’s Leaked Citibank Plutonomy Memo | unsettling economics

One reason is that the US central bank Federal Reserve is reducing their asset purchases. Retrieved from ” https: Please contact the modteam for further clarification.

On Politics and Money. This site uses cookies. 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.

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This could be a period of irreversible decline. Post was not sent – check your email addresses! In a paper, which he wrote for customers of his new employer, Bank of America Merrill Lynchone of the largest wealth plktonomy firms, Kapur and his team defended Piketty against critics. Over one million full-text copies of RWER papers are downloaded per year.

Citigroup’s plutonomy memos | mathbabe

Easier download of both documents: The rich have come back richer than ever. Notify me of new comments via email. They go on to say: In fact, some of them are major. You are commenting using your WordPress. You are commenting using your Facebook account. Self posts that lack context or content may be removed. The change took place in the s.


Plutonomy and the Precariat

There was a pretty constant expectation that it was going to go on like this. The political system began to dissolve. This site uses cookies.