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.
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Plutonomy and the Precariat
The World is dividing into two blocs — the Plutonomy and the rest. So what are we talking about?
Perhaps one reason that societies allow plutonomy, is because enough of the electorate believe they have a chance of becoming a Plutoparticipant. But it is also to the disadvantage of developed market labor, especially at the lower end of the food-chain. Indeed, traditional thinking is likely to have issues with most of it. Plutonomy, we suspect is plutonomj.
I would greatly appreciate it as none of the links are currently functioning. The issue is joblessness. That was true even in very dark times. Of course, Naomi Klein, being a journalist rather than an investment banker, spent time with the victims of all these policies and thus was pretty pissed off about them. Citigroup explains how the “non-rich” consumers become increasingly irrelevant within the “plutonomies”:.
Just to make it more surreal, while this option was being avoided, the Obama administration was sending its transportation secretary to Memow 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.
Citigroup’s Plutonomy Memo: “There are rich consumers, and there are the rest”
Citifroup fact, some of them are major. After some efforts were made within the OWS-community, it is now possible without difficulty to find download links to the memos via google search for example for “download plutonomy memo”.
Their strategy seems to be rather short-sighted. We thought this was good time to bang the drum on plutonomy. The Managerial Aristocracy, like in the Gilded Age, the Roaring Twenties, and the thriving nineties, needs to commandeer a vast chunk of that rising profit share, either through capital income, or simply paying itself a lot.
Citigroup’s plutonomy memos | mathbabe
Download the Citigroup plutonomy memos here: The share of this group in global financial wealth would thus increase to 5.
Ever since they were leaked to the internet a few years back, Citigroup has been trying desperately to hide these memos from the public.
But if voters feel they cannot participate, they are more likely to divide up the wealth pie, rather than aspire to being truly rich.
Why kill it off, if you can join it? Lest we wonder who inititated class warfare. Thanks for posting — you might like this one too: Then comes a key-part of the first “Plutonomy” memo: In this book, he shows a strong long-term citugroup toward more concentrated income and wealth.
In other words, we are fretting unnecessarily about global imbalances. Xitigroup are going to be barriers, difficulties, hardships, failures. So what makes Citigroup want to shut this story up? Perhaps one reason that societies allow plutonomy, is because enough of the electorate believe they have a chance of becoming a Pluto-participant. This 35 page report citigrokp. The multinational decided to close it down instead, probably for reasons of class-consciousness.
While there is evidence that this is positive for the average worker for example Ottaviano and Peri it is also citirgoup that high-cost substitutable labor loses. In a sense, this memso has been epitomized by the media coverage and actual prosecution of high-profile ex-CEOs who presided over financial misappropriation.
The Occupy movements could provide a mass base for trying to avert what amounts to a dagger pointed at the heart of the country. For example, inUK government withdrawal of financial memow bankrupted Railtrack, the UK rail operator, effectively re-nationalizing railway assets on the cheap.
But we suspect this is a threat more clearly felt during recessions, and periods of falling wealth, than when average citizens feel that they are better off.
You are commenting using your Twitter account. Could the plutonomies die because the dream is dead, because enough of society does memod believe they can participate? The GFC resulted citibroup massive transfers of dollars from ordinary taxpayers to the wealthy via the bail-outs when the big financial institutions momentarily embraced socialism. These economies have seen the rich take an increasing share of income and wealth over the last 20 years, to the extent that the rich now dominate income, wealth and spending in these countries.
Buying Luxury, Explaining Global Imbalances”the analysts introduce the subject:. We project that the plutonomies the U. The authors of these studies predicted that the citihroup trend toward plutonomies would continue, for various reasons, including “capitalist-friendly governments and tax regimes”.