The World is dividing into two blocs – the Plutonomy and the rest. Citigroup Research is a division of Citigroup Global Markets Inc. (the “Firm”). 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. In October 16, , Citigroup came out with a brochure for investors called “ Plutonomy: Buying Luxury, Explaining Global Imbalances” urging.
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The link you provided no longer works. Sorry, your blog cannot share posts by email. Low-end developed market labor might not have much economic power, but it does have equal voting power with the rich. Just to make it more surreal, while this option was being avoided, the Obama administration was sending its transportation secretary to Spain to get contracts for developing high-speed rail for the United States, which could have been done right in the rust belt, which is being closed down.
Over one million full-text copies of RWER papers are downloaded per year. Of course, Naomi Klein, being a journalist rather than an investment banker, spent time with the victims of all these policies and thus was pretty pissed off about them. To this end, the cleaning up of business practice, by high-profile champions of fair play, might actually prolong plutonomy. And there are other things going on like that.
But we suspect this is a threat more clearly felt during recessions, and periods of falling wealth, than when average citizens feel that they are better off. In a sense, this backlash me,os been epitomized by the media coverage and actual prosecution of high-profile ex-CEOs who presided over financial misappropriation.
Email Twitter Facebook Print. The answer is of course yes.
Citigroup’s Plutonomy Memo: “There are rich consumers, and there are the rest” – Elpidio Valdes
These take-down notices achieved the desired result, because the file-sharing website “scribd. 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:.
One was what was done: From Wikipedia, the free encyclopedia. memis
This equal voting power seems to be a pretty serious concern for their plans. Citiggroup Blog via Email Enter your email address to follow this blog and receive notifications of new posts by email.
Citigroipfinancerant. This page was last edited on 29 Novemberat 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.
Plutonomy and the Precariat
Fill in your details below or click an icon to log in: Perhaps that is their vision of a growth sector. The Revenge of Inequality” they state that in the long term the drivers of the further concentration of wealth are intact, including globalization and capitalism-friendly governments.
I mentioned before that, in the s, one of the most effective actions was the sit-down strike. Sorry, your blog cannot share posts by email. Citigrou issue is joblessness. 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. The share of plutonoky group in global financial wealth would thus increase to 5.
What are the common drivers of Plutonomy? Finally, from the third memo: Views Read Edit View history. Things like this continue.
Plutonomy and the Precariat | HuffPost
Email subscription to this blog Join 16, other followers. The lowest quintile did about as well as the highest quintile. This site uses Akismet to reduce spam.