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.
|Published (Last):||11 November 2004|
|PDF File Size:||9.6 Mb|
|ePub File Size:||13.66 Mb|
|Price:||Free* [*Free Regsitration Required]|
Citigroup’s Plutonomy Memo: “There are rich consumers, and there are the rest”
These memos prove the opposite, that the elite are perfectly happy to let us drown. Create a free website or blog at WordPress.
Doubtful about the value of the vote though, when it can be so easily manipulated by media, as in the Clinton-Trump election. You are commenting using your Twitter account. This site uses Akismet to reduce spam. Fill in your details below or click an icon to log in: Seeing as how Megaupload is offline, here are the Reports via two other links: Mekos when I worked at ThinkProgress, I repeatedly broke stories using leaked memos and other internal documents from powerful corporations.
Citigrup continuing to use this website, you agree to their use.
Citigroup attempts to disappear its Plutonomy Report #2 | Real-World Economics Review Blog
However this does not mean that governments are incapable of revoking property rights. In a sense, this backlash has been epitomized by the media coverage and citigrohp prosecution of high-profile ex-CEOs who presided over financial misappropriation.
If it does, the historic reversal that began in mdmos s could become irreversible. 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.
Plutonomy – Wikipedia
I should say that, in the s and s, there was also the development of what several decades later became the high-tech economy: And it was egalitarian. Send them to all your local media outlets. Secondly, if the rich are to keep getting richer, as we think they will do, then this has ongoing positive implications for the businesses selling to the rich.
The multinational decided to close it down instead, probably for citigdoup of class-consciousness. 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.
Often these wealth citigrohp involve great complexity, exploited best by the rich and educated of the time. There might be memps connection with Robert Gordon.
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.
And the reason is simple: Nothing that surprising, economically speaking, except for maybe the fact that their reaction, far from being outrage, is something bordering on gleeful.
To stay on top of important articles like these, sign up to receive the citiggoup updates from TomDispatch. Notify me of new comments via email.
Lest we wonder who inititated class warfare. When Bill Moyers “signed off” with his last broadcast inhe extensively quoted from the Citigroup memos and explicitly warned that Plutocracy and Democracy “do not mix”:. To continue with the U.
Plutonomy and the Precariat
You are commenting using your Facebook account. There was a pretty constant expectation that it was going to go on like this.
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.
Top Blog at WordPress.