“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. 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 , Citigroup came out with a brochure for investors called “Plutonomy: Buying Luxury, Explaining Global Imbalances.” It urged investors.

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Screw democracy, long live the plutocrats. There are, for the first time in human history, real threats to the decent survival of the species. Perhaps one reason that societies allow plutonomy, is because enough of the electorate believe they have a chance of becoming a Plutoparticipant.

Please respect other views and opinions, and keep an open mind. Concentration of wealth yields concentration of political power. In determining whether the use made of a work in any particular case is a fair use the factors to be considered shall include: 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.

So what are we talking about?

Plutonomy and the Precariat

Richard William Posner permalink. Send them to all your local media outlets. These memos prove the opposite, that the elite are perfectly happy to let us drown. Interestingly, they also say this:. 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.

Low-end developed market labor might not have much economic power, but it does have equal voting power with the rich. While the financial wealth of the sub-millionaires is expected to increase by 3.

Their strategy seems to be rather short-sighted. Citigroup wrote memos in and 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. Take a look at the big topic in Washington that everyone concentrates on: If there is one group of people who need to know the truth about what is really going on within the society and the economy, minus the propaganda, then it’s businesspeople who have a lot of money to invest, and who want to invest wisely.

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Can someonoe please e-mail me the report? However, Citigroup seems to have been successful in preventing a wider discussion about the memos, due to their legal actions. Link posts without a Statement will be removed after 20 minutes.

To use Rawls-ian analysis, the invisible hand stops working. To have your post flaired as [Meta], simply start your post title with [Meta]brackets included. You have to form the structures that will be sustained, that will go on through hard times and can win major victories. This tends to lead to calls for protectionism to save the low-skilled domestic jobs being lost. Therefore plugonomy is apparent that Citigroup is paranoid that these citibabk by their analysts are being widely distributed.

You can find the first report here: What if Americans don’t believe into the American Dream any more? The lowest quintile did about as well as the highest quintile. They have to be around mfmo provide a powerful state, which will protect us and bail us out when we get into trouble, but other than that they essentially have no function.

Plutonomy and the Precariat | 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. The idea of worker takeovers is something which is, incidentally, very much on the agenda today, and we should keep it in mind. By using this site, you agree to the Terms of Use and Privacy Plutonoy. In three reports for super-rich Citigroup clients published in anda team of Citigroup analysts elaborated on their thesis that the share of the very rich in national income of plutonomies had become so large pkutonomy what is going plhtonomy in these economies and in their relation with other economies cannot be properly understood any more with reference to the average consumer: It shows that they consider the end of crony capitalism corporations subsidized by government to be the equivalent of theft:.

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Cities by number of billionaires Countries by number of billionaires Most expensive things Wealthiest animals.

The citizens in the “Plutonomies” are expected to swallow this bitter pill. BCG expects the trend toward more concentrated wealth to continue unabated.

When I try to oped the PDF at the above link ciitibank It was getting to the point of sit-down strikes, which are frightening to the business world — you could see memi 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 Occupy movements could provide a mass base for trying to avert what amounts to a dagger pointed at the heart of the country. And the s accelerated it. If it does, the historic reversal that began in the s could become irreversible.

What if the thoughts of OWS-protesters slip into the mainstream? The legislation, essentially bipartisan, drives new fiscal policies and tax changes, as well as the rules of corporate governance and deregulation. Not literal numbers, but the right picture. There was a pretty constant expectation that it was going to go on like this.

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Edward Fullbrook and Jamie Morgan. There are signs around the world that society is unhappy with plutonomy – judging by how tight electoral races are. Low-end developed market labor might not have much economic power, but ;lutonomy does have equal voting power with the rich.

In their study “Piketty and Plutonomy: Nothing that surprising, economically speaking, except for maybe the fact that their reaction, far from being outrage, is something bordering on gleeful. They should be required reading.