Citigroup wrote memos in and addressed to investors, basically saying that the world is dividing up more and more into a small. The full report is available here MarPlutonomy-Report-Leaked-Citigroup-Memo-Part1. “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.

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It is easy to drown in a lake with an average depth of 4 feet, if one steps into its deeper extremes. Before the s, banks were banks.

The population at large might still endorse the concept of plutonomy but feel they have lost out to unfair rules. Could the plutonomies die because the dream is dead, because enough of society does not believe they can participate? We project that the plutonomies the U.

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. To use Rawls-ian analysis, the invisible hand stops working.

The authors of these studies predicted that the global trend toward plutonomies would continue, for various reasons, including “capitalist-friendly governments and tax regimes”. That means independent blogs, media outlets, etc. Often these wealth waves involve great complexity, exploited best by the rich and educated of the time.

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

Learn how your comment data is processed. And the reason is simple: Indeed, traditional thinking is likely to have issues with most of it. But if voters feel they cannot participate, they are more likely to divide up the wealth pie, rather than aspire to being truly rich. The first memo is dated October 16, 35 pages and is titled: According to BCG, about 15, households globally belong in this group of the super-rich.


Here, we believe lies a cornerstone of the current wave of plutonomy, and with it, plutoonomy potential for capitalists around the world to profit. Comments 26 Leave a comment.

Plutonomy and the Precariat

Nothing that surprising, economically speaking, except for maybe the fact that their reaction, far from being outrage, is something bordering on gleeful. They are attracted by the facets that facilitated the re-emergence of plutonomies in the U. One reason is that the US central bank Federal Reserve is reducing their asset purchases. Plutonomj there is evidence that this is positive for the average worker for example Ottaviano and Peri it is also clear that high-cost substitutable labor loses.

They plutomomy on to say: Doubtful about the value of the vote though, when it can be so easily manipulated by media, as in the Clinton-Trump election.

Citigroup’s Plutonomy Memo: “There are rich consumers, and there are the rest”

Citigroup seems to be perfectly happy with the rule of the rich. It led to the concentration of wealth increasingly in the hands of the financial sector. Why kill it off, if you can join it? By using this site, you agree to the Terms of Use and Privacy Policy. 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.


Often these wealth waves involve great complexity.

That is not true. The Plutonomu movements could provide a mass base for trying to avert what amounts to plugonomy dagger pointed at the heart of the country. Low-end developed market labor might not have much economic power, but it does have equal voting power with the rich. From CPS News more: The multinational decided to close it down instead, probably for reasons of class-consciousness.

And there are a lot of things that can be done. A few years ago, two copies of these memos were leaked and were published on the internet. But if voters feel they cannot participate, they are more likely to divide up the wealth pie, rather than aspire to being truly rich.

Those being undercut are losers in the short term.