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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A third threat comes from the potential social backlash. Look up plutonomy in Wiktionary, the free dictionary. Part 1 Part 2.
The issue is joblessness. I have these documents on a Public Dropbox folder, to share with anyone who wants them. Smith mwmo Kevin P. First violations will usually result in a warning but bans are at the mods’ discretion. Within a couple of years, they started having to put money into the party coffers in order to get ahead, a topic studied mainly by Tom Ferguson.
It just defies belief.
The outcome of the deficit commission is probably going to be the opposite. Views Read Edit View history. Before the s, banks were banks. Perhaps that is their vision of a growth sector. Notify me of new comments via email. By continuing to use this website, you agree to their use.
Plutonomy and the Precariat
Wealth concentration Economic inequality. The financialization of the economy really took off at that time. Conspiracy – a secret plan by a group to do something unlawful or harmful. leamed
The lowest quintile did about as well as the highest quintile. Wait, now that I look around, I see that Yves Smith at Naked Capitalism posted about this on October 15,almost three years ago, and called for people to protest the annual meetings of the American Bankers Association.
These guidelines exist to further that reputation. 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. Buying Luxury, Explaining Global Imbalances. 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.
Citigroup’s plutonomy memos | mathbabe
The Citigroup Plutonomy Memos: And the Occupy movement is the first real, citiban, popular reaction that could avert this. It was getting to the point of sit-down strikes, which are frightening to the business lraked — you could see it in the business press at the time — because a sit-down strike is just a step before taking over the factory and running it yourself.
The fact that the Occupy movement is unprecedented is quite appropriate. Become a Redditor and subscribe to one of thousands of communities. To stay on top of important articles like these, sign up to receive the latest updates from TomDispatch. Notify me of new comments via email. Concentration of wealth yields concentration of political power.
Citigroup attempts to disappear its Plutonomy Report #2 | Real-World Economics Review Blog
And it has an objective basis. The full report is available here http: They present themselves as looney, as well.
For the public, correctly, the deficit is not regarded as much of an issue. Accusing another user of being a troll or shill can be viewed as an attack, depending on context.
You can see it right now, in fact. Well anyway, nice to know that great minds think alike, as it were. Fill in your details below or click an icon to log in: They claimed that their plutonomy index was way outperforming the stock market.