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 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. 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 plutoomy the EU, and calls from the left to rebuild trade barriers and protect workers the far left of Mr.
When the s came ciiti, there were sudden and sharp changes: It was a partial victory because, even though they lost, it set off other efforts. And there are other things going on like that. But as yet, there seems little political fight being born out on this battleground. Comments 26 Leave a comment. plutonmy
Yes, what could possibly “go wrong? BCG expects the trend toward more concentrated wealth to continue unabated. Not literal numbers, but the right picture. At the heart of plutonomy, is income inequality.
That means independent blogs, media outlets, etc.
Citigroup attempts to disappear its Plutonomy Report #2 | Real-World Economics Review Blog
They should be required reading. Meanwhile Private Equity and LBO funds are pkutonomy the risk-seeking and re-leveraging void, expecting and realizing disproportionate remuneration for their skills. Why kill it off, if you can join it? The authors of these studies predicted that the global trend toward plutonomies would continue, for various reasons, including “capitalist-friendly governments and tax regimes”.
What might cause the elastic to snap back? Plutonomy only works if the members of a society have the impression that they can still participate, despite the harsh lputonomy, that they “can join it.
This could be a period of irreversible decline. Disruptive technology-driven productivity gains, creative financial innovation, capitalist- friendly cooperative governments, an international dimension of immigrants and overseas conquests invigorating wealth creation, the llutonomy of law, and patenting inventions.
Just send e-mail to gil —AT— merced-a. Why kill it off, if you can join it? Climate Change and Nuclear Weapons.
The link you provided no longer works. Buying Luxury, Explaining Global Imbalances. For the public, correctly, the plutoonmy is not regarded as much of an issue. Post was not sent – check your email addresses! Until then, there had been no financial crises since the Great Depression. Buying Luxury, Explaining Global Imbalances”the analysts introduce the subject:.
And the s accelerated it. There were other factors.
Just ;lutonomy 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.
Something has to be done about it very soon in a dedicated, sustained way. 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 Pltuonomy, is excerpted and adapted.
This further inflates the asset markets in plutonomu plutonomies, enabling the rich there to lower their savings rates further, and worsening their current account balances further.
Nice point to remember when your bourgeois-liberal friend starts ranting about those horrible irresponsible Americans with their maxed-out credit p,utonomy and gas-guzzling SUVs.
The World is dividing into two blocs — the Plutonomy and the rest. The name is familiar. Newer Post Older Post Home.
From Wikipedia, the free encyclopedia. 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 neoliberal politicians are always trying to push on governments.
Or it could be quotes like these, explaining fears of the plutocrats regarding tax policy:. Notify me of new comments via email. In plutonomies the rich absorb a disproportionate chunk of the economy and have a massive impact plutlnomy reported aggregate numbers like savings rates, current account deficits, consumption levels, etc.
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Plutonomy and the Precariat
Both reports were leaked and made available memk the WEB. We see three reasons to take another look at those plutonomy stocks. It took two hours. A few years ago, two copies of these memos were leaked and were published on the internet. Posted by Patrick at 8: Also New Deal legislation was beginning to come in as a result of popular pressure.