“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. 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 , Citigroup came out with a brochure for investors called “Plutonomy: Buying Luxury, Explaining Global Imbalances.” It urged investors.

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Back when I worked at ThinkProgress, I repeatedly broke stories using leaked memos and other internal documents from powerful corporations. Finally, from the third citibankk This is not something restricted to Europe. The idea of worker takeovers is something which is, incidentally, very much on the agenda today, and we should keep it in mind. The authors of these studies predicted that the global trend toward plutonomies would continue, for various reasons, including “capitalist-friendly governments and tax regimes”.

Speaking of inequality, you did ;lutonomy that Gangnam clip from Korean in a much earlier post, which was great fun by the way!

Plutonomy – Wikipedia

plutonomt This one sounds familiar, like someone told me about it at some point. In andseveral analysts at Citigroup took a very, very close look at the economic inequalities within the USA and other countries and wrote two memos which were addressed to their very wealthy customers. 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 poutonomy 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.

To use Rawls-ian analysis, the invisible hand stops working. Meanwhile, it opened a period of stagnation or citibahk decline for the majority of the population. To this end, the rise of the far right in a number of Cjtibank countries, or calls from the right to slow down the accession of Turkey into the EU, and calls from the left to rebuild trade barriers and protect workers the far left of Mr.


Perhaps one reason that societies allow plutonomy, is because enough of the electorate believe they have a chance of becoming a Pluto-participant. This site uses cookies. We think that despite the post-bubble angst against celebrity CEOs, the trend of cost-cutting balance sheet-improving CEOs might just give way to risk-seeking CEOs, re-leveraging, going for growth and expecting disproportionate compensation for it.

The answer plugonomy of course yes. There might be a connection with Robert Gordon. While there is evidence that this is positive for the average worker for example Ottaviano and Peri it is also clear that high-cost substitutable labor loses.

One of the underlying factors, discussed mainly by economic historian Robert Brenner, was the falling rate of profit in manufacturing.

Doubtful about the value of the vote though, when it can be so easily manipulated by media, as in the Clinton-Trump election. Buying Luxury, Explaining Global Imbalances. That is not true. Well, it could be the above quote from memo 1 a point made several times throughout the documentexplicitly linking the trend of growing income inequality to the stuff neoliberal politicians are always trying to push on governments.

The summary on the first page of this memo, which another report for their super-wealthy investors, boldly citivank “Plutonomy” not only as a fact, but a business great business opportunity:. Our goals are a fairer, more transparent world and a better future for everyone. We can see a number of potential challenges to plutonomy. Sorry, your blog cannot share posts by email. Something has to be done about it very soon in a dedicated, sustained way. By using this site, you agree to the Terms of Use and Privacy Policy.


The issue is joblessness. Post was not sent – check your email addresses! Both reports were leaked and made available on the WEB.

And this is connected to a huge propaganda system, proudly and openly declared by the ciitbank world, to try to convince people that climate change is just a liberal hoax. Citigroup explains how the “non-rich” consumers become increasingly irrelevant within the “plutonomies”:. You are commenting using your Facebook account. Email subscription to this blog Join 16, other followers.

Ditibank, rich people are supposed to be good for the economy because they invest, not because they spend. There are, in our opinion, two issues for equity investors to consider.

Plutonomy and the Precariat

Posting links in other subs pointing to specific submissions or comments here is subject to a citibankk, depending on context. Conspiracy Theory – a hypothesis that some covert but influential organization is responsible for a circumstance or event.

Alongside this began a sharp rise in the costs of elections, which drove the political parties even deeper into the pockets of the corporate sector. But as yet, there seems little political fight memmo born out on this battleground.

I suppose I’ll read it over morning coffee. But does placing so much money in so few hands also pose risks? You just know there has to be a lot of documents floating around out there, but most of this kind of stuff is probably only talked about in places like Davos. They did what banks were supposed to do in a state capitalist economy: Meanwhile Private Equity and LBO funds are filling the risk-seeking and re-leveraging void, expecting and realizing disproportionate remuneration for their skills.

Also New Deal legislation was beginning to come in as a result of popular pressure.