Citigroup wrote memos in and addressed to investors, basically saying that the world is dividing up more and more into a small. The full report is available here MarPlutonomy-Report-Leaked-Citigroup-Memo-Part1. “Are they real?” That’s the question people usually ask when they hear for the first time of the “Citigroup Plutonomy Memos.” The sad truth is.
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Part 1 Part 2.
Sorry, your blog cannot share posts by email. Over one million full-text copies of RWER papers are downloaded per year.
Plutonomy and the Precariat | HuffPost
Or it could be quotes like these, explaining fears of the plutocrats regarding tax policy: The rich have come back richer than ever. Notify me of new comments via email. To this end, the cleaning up pljtonomy business practice, by high-profile champions of fair play, might actually prolong plutonomy. Notify me of new comments via email. Instead of just walking away, the workforce 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.
Top Blog at WordPress. There has always been a gap between public policy and public will, but plutonommy just grew astronomically. They are richer than ever, more powerful than ever, controlling the political system, disregarding the public.
The change took place in the s. Often these wealth waves involve great complexity, exploited best by the rich and educated of the time. A third threat comes from the potential social backlash.
Plutonomy and the Precariat
In this book, he shows a strong long-term trend toward more concentrated income and wealth. Why kill it off, if you can join it?
Low-end developed market labor might not have much economic power, but it does have equal voting power with the rich. What might cause the elastic to snap back?
And the s accelerated it.
Plutonomy – Wikipedia
Sorry, your blog cannot share posts by email. Do you have information you want to share with HuffPost? 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.
What bothers me most about this is that Obama is doing very little about it. This could be a period of irreversible decline.
The s and s had been a period of enormous growth, the highest in American history, maybe in economic history.
Perhaps one reason that societies allow plutonomy, is because enough of cjti electorate believe they have a chance of becoming a Plutoparticipant. Take a look at the big topic in Washington that everyone concentrates on: Finally, from the third memo: It shows that they consider the end of crony capitalism corporations subsidized by government to be the equivalent of theft:.
Citigroup’s Plutonomy Memo: “There are rich consumers, and there are the rest”
By continuing to use this website, pltonomy agree to their use. So Citigroup did their duty and published two explosive memos, which should have become mainstream news, but eventually did not.
Citigroup wrote memos in pplutonomy addressed to investors, basically saying that the world is dividing up more and more into a small group of rich people who drive the economy, surrounded by a large number of poor people whose economic interests can be safely ignored. From Wikipedia, the free encyclopedia. I would pluonomy appreciate it as none of the links are currently functioning. The Uber-rich, the plutonomists, are likely to see net worth-income ratios surge, driving luxury consumption.
Fill in your plutonom below or click an icon to log in: Buying Luxury, Explaining Global Imbalances”the analysts introduce the subject:. As far as the deficit is concerned, the public has opinions. Then comes a key-part of the first “Plutonomy” memo: One has been hanging around since Email required Address never made public.
Concentration of wealth and spending in the hands of a few, probably has its limits.
The workforce and the union offered to buy it, take it over, and run it themselves. Michael Moore referred to them in Capitalism: When the s came along, there were sudden and sharp changes: 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. Perhaps one reason that societies allow plutonomy, is because enough of the electorate believe they have a chance of becoming a Pluto-participant.
Corporate tax rates could rise, choking off pluhonomy to the private sector, and personal taxation rates could rise — dividend, capital-gains, and inheritance tax rises would hurt the plutonomy.