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 ยท 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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Buying Luxury, Explaining Global Imbalances. Edward Fullbrook and Jamie Morgan.

Buy plutonomy stocks list inside. Before the s, banks were banks. The lowest quintile did about as well as the highest quintile. To stay on top of important articles like these, sign up to receive the latest updates from TomDispatch.

Asset booms, a rising profit share and favourable treatment by market-friendly governments have allowed the rich to prosper and become a greater share of the economy in the plutonomy countries.

Leave a Reply Cancel reply Enter your comment here The Occupy movements could provide a mass base for trying to avert what amounts to a dagger pointed at the heart of the country.

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Why kill it off, if you can join it? Continental Europe ex-Italy and Japan are in the egalitarian bloc.

After the first few years, by the mids — although the situation was objectively much harsher than it is today — nevertheless, the spirit was quite different. Could the plutonomies die because the dream is dead, because enough of society does not believe they can participate? Newer Post Older Post Home. You are commenting using your Facebook account. The legislation, essentially bipartisan, drives new fiscal policies and tax changes, as well as the rules of corporate governance and deregulation.


Alongside this began a sharp rise in the costs of elections, which drove the political parties even deeper into the pockets of the corporate sector.

Wealth concentration Economic inequality. By continuing to use this website, you agree to their use.

Plutonomy and the Precariat

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But as yet, there seems little political fight being born out on this battleground. Equity multiples appear too low, the profit share of GDP is high and likely going higher, stocks look likely to beat housing, and we are bullish on equities. To this end, the rise of the far right in a number of European countries, or calls from the right to slow down the accession of Turkey into the EU, and calls from the left to rebuild trade barriers and protect workers the far left of Mr.

One of them is social backlash – the lower and middle class citibsnk revolt if they figure out that there really plutonomyy no way to the top. Plutocracies always destroy themselves, and many innocents along with them. 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.

Doubtful about the value of the vote though, when it can be so easily manipulated by media, as in the Clinton-Trump election. You can find the first report here: 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 There has always been a gap between public policy and public will, but it just grew astronomically.


Plutonomy and the Precariat | HuffPost

It is not necessary to include a download link in this post, as the memos are pretty easy to find with a simple google search. Init was times. Things you could do now to lsaked the cause?

Along with that came a significant shift of the economy from productive enterprise — producing things people need or could use — to financial manipulation. On p22, they say straight out that financial inequality is desirable, and that their investors lezked lose power if the government begins taxing or regulating them like it used to.

Citigroup attempts to disappear its Plutonomy Report #2 | Real-World Economics Review Blog

It used to be that if a person citibabk Congress hoped for a position such as a committee chair, he or she got it mainly through seniority and service. By using this site, you agree to the Terms of Use and Privacy Policy.

The fact that a work is unpublished shall not itself bar a finding of fair use if such finding is made upon consideration of all the above factors. Concentration of wealth yields concentration of political power. We will posit that: