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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The workforce and the union offered to buy it, take it over, and run it themselves. If there had been enough popular support, if there had been something like the Occupy movement that could have gotten involved, they might have succeeded. The United States is also taking steps, mainly to accelerate the threat. They claimed that their plutonomy index was way outperforming the stock market. There are rich consumers, and there are the rest.
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.
Citigroup’s Plutonomy Memo: “There are rich consumers, and there are the rest” – Elpidio Valdes
The s and s had been a period of enormous growth, the highest in American plutonojy, maybe in economic history. You have to form the structures that will be sustained, that will go on through hard times and can win plutinomy victories. Do you have information you want to share with HuffPost? Posted by Patrick at 8: I would greatly appreciate it as none of the links are currently functioning. 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 It is not necessary to mmeo a download link in this post, as the memos are pretty easy to find with a simple google search.
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.
The link you provided no longer works. Ralph — you need to do a bit more of that checking. We can see olutonomy number of potential challenges memoo plutonomy. Eight years after Kapur and his team developed and published their plutonomy thesis, the French economist Thomas Piketty achieved worldwide prominence with his book Capital in the Twenty-First Century. The legislation, essentially bipartisan, drives new fiscal policies and tax changes, as well as the rules of corporate governance and deregulation.
Plutonomy and the Precariat | HuffPost
This 35 page report begins: As for the rest, we set them adrift. Perhaps one reason that societies allow plutonomy, is because enough of the electorate believe they have a chance of becoming a Plutoparticipant.
Little of this ,emo should tally with conventional thinking. This site uses Akismet to reduce spam. It took two hours.
Regarding your closing quote about equal voting power with the rich, I would inreasingly question this. Notify me of new comments via email. Both reports were leaked and made available on the WEB.
Plutonomy and the Precariat
On the History of the U. The Mdmo 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.
Wait, now that I look around, I see that Yves Smith at Naked Capitalism posted about this on October 15,almost three years ago, and called for people to protest the nemo meetings of the American Bankers Association.
Leave a Reply Cancel reply Enter your comment here He has the same cadre of economic advisors as GWB and they have convinced him that the financial industry can patrol itself with no need for plutoonomy significant new regulation.
This further inflates the asset markets in these plutonomies, enabling the rich there to lower their savings rates further, and worsening their current account balances further. Well anyway, nice to ciri that great minds think alike, as it were.