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

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This cycle resulted in a tremendous concentration of wealth, mainly in the top tenth of one percent of the population. There are a lot of reasons for it. Download the Citigroup plutonomy memos here: Stephan on January 24, In plutonomies the rich absorb a disproportionate chunk of the economy and have a massive impact on reported aggregate numbers like savings rates, current account deficits, consumption levels, etc. Follow Blog via Email Enter your email address to follow this blog and receive notifications of new posts by email.

Show them to your conservative friends, the ones who believe we still live in a society where everyone can be rich if they just work hard enough. Eyes are getting bleary. Speaking of inequality, you did highlighting that Gangnam clip from Korean in a cotibank earlier post, which was great fun by the way! For decades, Citigroup has been one of the most corrupt of the major investment banking corporations, repeatedly bailed out by the taxpayer, starting in the early Reagan years and now once again.


The other, of course, is environmental catastrophe. While this tends to be something more often seen in countries with a shorter history of plutonony democracy, such as the Ukraine attempts to undo prior privatizations plutonlmy, or Russia where ctibank of our clients believe events citibamk Mikhail Khodorovsky to be a form of nationalizationit can happen in the strangest of places.

Michael Moore’s Leaked Citibank Plutonomy Memo | unsettling economics

Theory – a supposition or a system of ideas intended to explain something. Corporate tax rates could rise, choking off returns to the private sector, and personal taxation rates could rise — dividend, capital-gains, and inheritance tax rises would hurt the plutonomy. Doubtful about the value of the vote though, when it can be so easily manipulated by media, as in the Clinton-Trump election.

Comments 26 Leave a comment. Often these wealth waves involve great complexity, exploited best by the rich and educated of the time. Posts that attack this sub, users or mods thereof, will be removed.

Plutonomy and the Precariat

Create a free website or blog at WordPress. 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 equal voting power seems to be a pretty serious concern for their plans.

We project that the plutonomies the U. First violations will usually result in a warning but bans are at the mods’ discretion.

Well, it could be the above quote from memo 1 a point made several times throughout the documentexplicitly linking the trend of growing income inequality to the stuff citibqnk politicians are always trying to push on governments. But if voters feel they cannot participate, they are more likely to divide up the wealth pie, rather than aspire to being truly rich.


Plutonomy – Wikipedia

The United States is also taking steps, mainly to accelerate the threat. Top Blog at WordPress.

A multinational decided to close down a profitable, functioning facility carrying out some high-tech manufacturing. Through ,eaked s, as the decline was setting in, there were some important events that took place. It shows that they consider the end of crony capitalism corporations subsidized by government to be the equivalent of theft:.


Retrieved from ” https: Leave a Reply Cancel reply Enter your comment here Take, for example, Citigroup. A TomDispatch regularhe is the author of numerous best-selling political works, most recently, Hopes and ProspectsMaking the Futureand Occupypublished by Zuccotti Park Pressfrom which this speech, given last October, is excerpted and adapted. I suppose I’ll read it leakde morning coffee. This site uses cookies.

Become a Redditor and subscribe to one of thousands of communities. My email is civileconomies gmail. A third threat comes from the potential social backlash.