Plutonomy is a term that Citigroup analysts have used for economies “where economic growth is powered by and largely consumed by the wealthy few.”. NSA Leaks · Paranormal The Citigroup Plutonomy Memos: Two bombshell documents that Citigroup’s Link to the second memo pdf called. I cannot copy the memo, only read it on the web. Its willingness to write so honestly about our neoliberal capitalism, it is interesting and worthy.
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However this does not mean that governments are incapable of revoking property rights.
Citigroup’s plutonomy memos | mathbabe
It shows that they consider the end of crony capitalism corporations subsidized by government to be the equivalent of theft: But does placing so much money in so few hands also pose risks? They are also perfectly happy to suppress these explosive memos. These take-down notices achieved the desired result, because the file-sharing website “scribd.
This week, the House will begin to mark-up the bill. This is what Dodd-Frank has done, to some extent: It would have taken a little popular support, but it could have made a major change in the economy. Fortunately for the investors, the analysts at Citigroup also considered these points and started to think about the plebs who, as history shows, have a tendency to be unruly, if poor.
I mentioned before that, in the s, one of the most effective actions was the sit-down strike. According to Kapur and team, “the balance sheets of the plutonomists have been an important transmission channel of monetary policy.
At the beginning of the first memo “Plutonomy: And the Occupy movement is the first real, major, popular reaction that could avert this.
And this is connected to a huge propaganda system, proudly and openly declared by the business world, to try to convince people citibakn climate change is just a liberal hoax.
Not long ago, President Barack Obama took over the auto industry, which was basically owned by the public. Plutocracies always destroy themselves, and many innocents along with them.
Comments on issue 74 – repaired post and read comments on issue Indeed, traditional thinking is likely to have issues with most of it. Christian Arnsperger and Yanis Varoufakis Trade and inequality: There were other factors. Posted by Patrick at 8: Often these wealth waves involve great complexity, exploited best by the rich and educated of the time. The multinational decided to close it down instead, probably for reasons of class-consciousness.
Plutonomy and the Precariat
To this end, the cleaning up of business practice, by high-profile champions of fair play, might actually prolong plutonomy. Clearly, this is a brazen abuse of copyright law to suppress legitimate journalism.
I checked all the stocks listed in the documents. One reason is that the US central bank Federal Reserve is reducing their asset purchases. The summary on the first page of this memo, which another report for their super-wealthy investors, boldly presents “Plutonomy” not only as a fact, but a business great business opportunity:.
Plutonomy – Wikipedia
There is a download button there. While the financial wealth of the sub-millionaires is expected to increase by 3.
Views Read Edit View history. Top Lfaked at WordPress. 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:.
Interestingly, they also say this: 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. These are mmeo reasons, and reflect the lack of popular political mobilization. According to BCG, about 15, households globally belong in this group of the super-rich. When I try to oped the PDF at the above link http: And there are a lot of things that p,utonomy be done.
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Leave a Reply Cancel reply Enter your comment here One was what was done: First, rich people are supposed to be good for the economy pkutonomy they invest, not because they spend. And it was egalitarian.
Equity multiples appear pltonomy low, the profit share of GDP is high and likely going higher, stocks look likely to beat housing, and we are bullish on equities. Learn how your comment data is processed. They further see the luxury industry catering to plutonomists threatened by anti-corruption initiatives of China and India.