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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If there had been enough popular support, if there had been something like the Occupy movement that could have gotten involved, they might have succeeded.
We have all heard the lament.
Plutonomy and the Precariat | HuffPost
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”.
Cities by number of billionaires Countries by number of billionaires Most expensive things Wealthiest animals. During this discussion, Ajay Kapur the author of the plutonomy-theses, which is closely related to Piketty’s theses, entered the public stage again in May This further inflates the asset markets in these plutonomies, enabling the rich there to lower their savings rates further, and worsening their current account balances further. Now, the plutonomy is where the action is and it could continue like this.
Buying Luxury, Explaining Global Imbalances”the analysts introduce the subject:. Learn how your comment data is processed. But as yet, there seems little political fight being born out on this battleground.
Citigroup’s Plutonomy Memo: “There are rich consumers, and there are the rest” – Elpidio Valdes
Thank you most sincerely for the links. Therefore it is apparent that Citigroup is paranoid that these memos by their analysts are being ictigroup distributed.
However, Citigroup seems to have been successful in preventing a wider discussion about the memos, due to pluttonomy legal actions. In the s, unemployed working people could anticipate that their jobs would come back.
It would have taken a little popular support, but it could have made a major change in the economy. Perhaps that is their vision of a growth sector.
There was a pretty constant expectation that it was going to go on like this. Some economists took issue with this diagnosis.
Plutonomy and the Precariat
Those being undercut are losers in the short term. You are commenting using your WordPress. The public overwhelmingly supports higher taxes on the wealthy, which have declined sharply in this period of stagnation and decline, and the preservation of limited social benefits. 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.
And the reason is simple: Often these wealth waves involve great complexity, exploited best by the rich and educated of the time. Yes, what could possibly “go wrong? There are, in our opinion, two issues for equity investors to consider. 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. 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.
To continue with the U. The Occupy movements could provide a mass base for trying to avert what amounts to a dagger pointed at the heart of the country.
Practically every country in the world is taking at least halting steps towards trying to do something about it. However this does not mean that governments are incapable of revoking property rights. Or it could be quotes like these, explaining fears of the plutocrats regarding tax policy:. Create a free website or blog at WordPress. But we suspect plutonoy is a threat more clearly felt during recessions, and periods of falling wealth, than when average citizens feel that they are better off.
Citigroup’s Plutonomy Memo: “There are rich consumers, and there are the rest”
Plutonomy and the Precariat. Yes, they are real, and instead of being discussed on mainstream media outlets all over America and beyond, Citigroup was surprisingly successful so far in suppressing these memos, using their lawyers to issue takedown-notices whenever these memos were being made available for download on the internet. Newer Post Cititroup Post Home.
The idea of worker takeovers is something which is, incidentally, very much on the agenda today, and we should keep it in mind. Fortunately, this is already happening. The Managerial Aristocracy, like in the Gilded Age, the Roaring Twenties, and the thriving nineties, needs to commandeer a vast chunk of that rising memps share, either through capital income, or simply paying itself a lot. And there were a number of things that could have been done.