Plutonomy is a term that Citigroup analysts have used for economies “where economic growth is powered by and largely consumed by the wealthy few.”. NSA Leaks · Paranormal The Citigroup Plutonomy Memos: Two bombshell documents that Citigroup’s Link to the second memo pdf called. I cannot copy the memo, only read it on the web. Its willingness to write so honestly about our neoliberal capitalism, it is interesting and worthy.
|Published (Last):||18 December 2018|
|PDF File Size:||17.37 Mb|
|ePub File Size:||19.84 Mb|
|Price:||Free* [*Free Regsitration Required]|
Therefore it is apparent that Citigroup is paranoid that these memos by their analysts are being widely distributed. Top Blog at WordPress.
They point out how in france, the introduction of the 35 hour work week really hurt the mega-rich. Post was not sent – check cktibank email addresses!
Cramulus on June 25, Captain Utopia on June 25, It shows that they consider the end of crony capitalism corporations subsidized by government to be the equivalent of theft:. One reason is that the US central bank Federal Reserve is reducing their asset purchases. Low-end developed market labor might not have much economic power, but it does have equal voting power with the rich. And it was egalitarian. Over one million full-text copies of RWER papers are downloaded per year.
Consensus analyses that do not tease out the profound impact of the plutonomy on spending power, debt loads, savings rates and hence current account deficitsoil price impacts etc, i.
The Good Reverend Roger on June 23, Screw democracy, long live the plutocrats. Follow Blog via Email Enter your email address to follow this blog and receive notifications of new posts by email. After the first few years, by the mids — although the situation was objectively much harsher than it is today — nevertheless, the spirit was quite different. That was true even in very dark times. Concentration of wealth and spending in the hands of a few, probably has its limits.
For the public, correctly, the deficit is not regarded as much of an issue. I checked all the stocks listed in the documents. The rich have come back richer than ever.
Citigroup’s plutonomy memos | mathbabe
There are signs around the world that society is unhappy with plutonomy – judging by how tight electoral races are. Still true, as per evidence by Thomas Piketty and others. When I try to oped the PDF at the above link http: You are pluttonomy using your Facebook account. You may get shit on by your aristocratic betters, but here is a whole bunch of untermenschen to take out your rage on! Thanks for posting — you might like this one too: Cramulus Deserved It Posts: Michael Moore referred to them in Capitalism: By continuing to use this website, you agree to their use.
The name is familiar. The population at large might still endorse the concept of plutonomy but feel they have lost out to unfair rules. Take, for example, Citigroup. It mmemo that the rich in the US continue to be in great shape. And concentration of political power cotibank rise to legislation that increases and accelerates the cycle. The rich admit that they are responsible for the low savings rate in american households plytonomy top of p Tap here to turn on desktop notifications to get the news sent straight to you.
Perhaps one reason that societies allow plutonomy, is because enough of the electorate believe they have a chance of becoming a Pluto-participant. So there was a period of stagnation and decline for the majority alongside a period of sharp concentration of wealth.
My email is civileconomies gmail. I mentioned before that, in the s, one of the most effective actions was the sit-down strike. The parties dissolved in many ways. That just drove the whole system even deeper into the pockets of the corporate sector increasingly the financial sector.
Plutonomy and the Precariat
At the beginning of the first memo “Plutonomy: 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. One of them is social backlash – the lower and middle class may revolt if they figure out that there really is no way to the top.
You are commenting using your Facebook account. These memos prove the opposite, that the elite are perfectly happy to let us drown.