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. In , Citigroup came out with a brochure for investors called “Plutonomy: Buying Luxury, Explaining Global Imbalances.” It urged investors.
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Look up plutonomy in Wiktionary, the free dictionary. These are class reasons, and reflect the lack of popular political mobilization. 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.
This needs to stop, as every American and every citizen in the western world needs to know what people like the analysts of Citigroup really think about the inequalities which exist within the societies, how the rich should preserve their domination, and what possible “backlash” can be expected – and what the consequences are of living in a “plutonomy.
This page was last edited on 29 Novemberat The first, and probably most potent, is through a labor backlash. Plutonomy, we suspect is elastic. Welcome to Reddit, the front page of the internet. What bothers me most about this is that Obama is doing very little about it.
Easier download of both documents: These take-down notices achieved citibajk desired result, because the file-sharing website “scribd. Things like this continue. This 35 page report begins: My e-mail is leninha.
These economies have seen the rich take an increasing share of income and wealth over the last 20 years, to the extent that citiban rich now dominate income, wealth and spending in these countries. While the financial wealth of the sub-millionaires is expected to increase by 3. Still true, as per evidence by Thomas Piketty and others. We thought this was good time to bang the drum on plutonomy. This 35 page report begins:.
Could anyone who downloaded this please email it to me. This is what Dodd-Frank has done, to some extent: But does placing so much money in so few hands also pose risks? This week, the House will begin to mark-up the bill. Email required Address never made public. So what makes Citigroup want to shut this story up?
And there are other things going on like that. So the analysts started to think about “losers”as they call them, or the people who could need a bath, as Newt Gingrich would call it.
We think that despite the post-bubble angst against celebrity CEOs, the trend of cost-cutting balance sheet-improving CEOs might just give way to risk-seeking CEOs, re-leveraging, going for growth and expecting disproportionate compensation for it. Facebook links will be removed. Plutocrats repent, your end is near. Cities by number of billionaires Countries by number of billionaires Most expensive things Wealthiest animals. Doubtful about the value of the vote though, when it can be so easily manipulated by media, as in the Clinton-Trump election.
My email is civileconomies gmail. The United States is also taking steps, mainly citlbank accelerate the threat. According to BCG, about 15, households globally memi in this group of the super-rich. Instead of just walking away, the pputonomy and the community decided to get together and buy it from the company, hand it over to the work force, and turn it into a worker-run, worker-managed facility.
Also New Deal legislation was beginning to come in as a result of popular pressure. The blog “No Apparent Motive” reported that they received a take-down letter from Citigroup’s lawyers after they posted a download link to a copy of one of the memos:. And it was egalitarian. Independent media will be delisted from search engines and their domains could be blocked. But if voters feel they cannot participate, they are more likely to divide up the wealth pie, rather than aspire to being truly rich.
It was getting to the point of sit-down strikes, which are frightening to the business world — you could see it in the p,utonomy press at the time — because a sit-down strike is just a step before taking over the factory and running it yourself. Nice point to remember when your bourgeois-liberal friend starts ranting about those horrible irresponsible Americans with their maxed-out credit cards and gas-guzzling SUVs.
Comments on issue 74 – repaired post and read comments on issue Smith bruceedmonds Kevin P. Writing the hagiography of the plutocrats has always been an unfortunate role.
Plutonomy and the Precariat | HuffPost
Practically every country in the world is taking at least halting steps towards trying to do something about it. 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.
Concentration of wealth and spending in the hands of a few, plytonomy has its limits.