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. In , Citigroup came out with a brochure for investors called “Plutonomy: Buying Luxury, Explaining Global Imbalances.” It urged investors.
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The lowest quintile did about as well as the highest quintile. Other image posts are subject to removal at moderators discretion. Sorry, your blog cannot share posts by email. There has always been a gap between public policy and public will, but it just grew astronomically.
They are also perfectly happy to suppress these explosive memos. All posts will be by default flaired as [No Meta] and subject to these rules.
In a paper, which he wrote for customers of his new employer, Bank of America Merrill Lynchone of the largest wealth management firms, Kapur and his team defended Piketty against critics.
As for the rest, we set them adrift. And of course, to buy luxury-goods plutonoky. Newer Post Older Post Home. To use Rawls-ian analysis, the invisible hand stops working. Something has to be done about it very soon in a dedicated, sustained way. Behold the Dark Side! Instead of just walking away, the workforce and the community decided to get together and buy it from the mmo, hand it over to the work force, and turn it into a worker-run, worker-managed facility.
Perhaps one reason that societies allow plutonomy, is because enough of the electorate believe they have pultonomy chance of becoming a Pluto-participant. Ciibank considering these aspects, the analysts also discovered that there is a terrifying factor to consider – that the poor don’t have much economic power, but that they “have equal voting power with the rich. Yes, what could possibly “go wrong? Thank you most sincerely for the links. Continental Europe ex-Italy and Japan are in the egalitarian bloc.
Examples of their activities can be found all over the internet. There are, for the first time in human history, real threats to the decent survival of the species. Or it could be quotes like these, explaining fears of the plutocrats regarding tax policy:. Retrieved from ” https: Email required Address never made public. Low-end developed market labor might not have much economic power, but it does have equal voting power with the rich. When the s came along, there were sudden and sharp changes: Nice point to remember when your bourgeois-liberal friend starts ranting about those horrible irresponsible Americans with their maxed-out credit cards and gas-guzzling SUVs.
If only it were that. Submission Statements are required for link and image posts. Just send e-mail to gil —AT— merced-a. The Occupy movements could provide a mass base for trying to avert what amounts to a dagger pointed at the heart of the country. 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. They go on to say: The Managerial Aristocracy, like in the Gilded Age, the Roaring Twenties, and the thriving nineties, needs to commandeer a vast chunk of that rising profit share, either through capital income, or simply paying itself a lot.
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Plutonomics – The Wealth Report – WSJ
Independent media will be delisted from search engines and their domains could be blocked. You are commenting using your Facebook account. There are rich consumers, few in number, but disproportionate in the gigantic slice of income and consumption they take.
This could be a period of irreversible decline.
Citigroup attempts to disappear its Plutonomy Report #2 | Real-World Economics Review Blog
Their strategy seems to be rather short-sighted. They have to be around to provide a powerful state, which will protect us and bail us out when we get mdmo trouble, but other than that they essentially have no function.
Citigroup reports available for download here: The outcome of the deficit commission is probably going to be the opposite. I just learned of these reports from another WordPress blogger. Buying Luxury, Explaining Global Imbalances. A third threat comes from the potential social backlash. Before the s, banks were banks. If there had mem enough popular support, if there had been something like the Occupy movement that could have gotten involved, they might have succeeded.
It shows that they consider the end of crony capitalism corporations kemo by government to be the equivalent of theft:. That was true even in very dark times.
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, citibak. To have your post flaired as [Meta], simply start your post title with [Meta]brackets included.
Pretty soon those memk hours were much higher in the United States than in other industrial countries like Japan and various places in Europe. Sorry, your blog cannot share posts by email. Submit a new text post. It was a partial victory because, even though they lost, it set off other efforts.