Plutonomy is a term that Citigroup analysts have used for economies “where economic growth is powered by and largely consumed by the wealthy few.”. NSA Leaks · Paranormal The Citigroup Plutonomy Memos: Two bombshell documents that Citigroup’s Link to the second memo pdf called. I cannot copy the memo, only read it on the web. Its willingness to write so honestly about our neoliberal capitalism, it is interesting and worthy.
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Home Help Login Register. Things like this continue. A multinational decided to close down a profitable, functioning facility carrying out some high-tech manufacturing. Nothing that surprising, economically speaking, except for maybe the fact that their reaction, far from being outrage, is something bordering on gleeful.
Plutonomy and the Precariat
In and Citigroup issued two now notorious but highly significant reports for the exclusive use of its richest clients. Independent media will be delisted from search engines and their domains could be blocked.
Take a look at the big topic in Washington that everyone concentrates on: You are commenting using your Twitter account. Reaper on January 24, Something has to be done about it very soon in a dedicated, sustained way. The answer is of course yes.
Plutonomy – Wikipedia
Along with that came a significant shift of the economy from productive enterprise — producing things people need or could use — to financial manipulation. The World is dividing into two blocs — the Plutonomy and the rest. Alongside this began a sharp rise in the costs of elections, which drove the political parties even deeper into the pockets of the corporate sector. Examples of their activities can be found all over the internet. I have these documents on a Public Dropbox folder, to share with anyone who wants them.
But with enough popular support, they could have won. But if voters feel they cannot participate, they are more likely to divide up the wealth pie, rather than aspire to being truly rich. Concentration of wealth yields concentration of political power.
Leave a Reply Cancel reply Enter your comment here 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.
Clearly, this is a brazen abuse of copyright law to suppress legitimate journalism. Easier download of both documents: Meanwhile Pluronomy Equity and LBO funds are filling the risk-seeking and re-leveraging void, expecting and realizing disproportionate remuneration for their skills. Plutocracies always destroy themselves, and many innocents along with them.
I checked all the stocks listed in the documents. Screw democracy, long live the plutocrats. Often these wealth waves involve great complexity, exploited best by the rich and educated of the time. The population at large might still endorse the concept of plutonomy but feel they have lost out to unfair rules.
For the public, correctly, the deficit is not regarded as much of an issue. Thanks for posting — you might like this one too: There are, for the first time in human history, real threats to the decent survival of the species.
Finding pure-plays on the plutonomy theme, however, is tricky. After the first few years, by the mids — although the situation was objectively much harsher than it is today — nevertheless, the spirit was quite different.
These guidelines exist to further that reputation.
Old Paradigm methodology rethinking economics Old Paradigm Economics Leaekd World Economics Movement revere award Revolving-Door Economists students teaching World Economics Association The Economy Arab World Bubbles budget deficits upward income redistribution crisis debt microcredit debt crisis depression economic development Economy education Eurozone Eurozone Crisis exploitation financial crisis financial markets food globalization Graphics Decline of the USA Quality of life indicators Greece Growth health housing bubble income inequality income redistribution inequality jobs Keynes Piketty’s Capital Plutonomy Political Economy Politics and the economy poverty Recession Social Security taxes Uncategorized unemployment upward income and wealth redistribution upward income redistribution The Economy and the Planet economics of climate change oil energy the planet and the economy WEA Books.
Captain Utopia on June leakdd, The Uber-rich, the plutonomists, are likely to see net worth-income ratios surge, driving luxury consumption. And with that approach, you can justify pretty much anything you want, no matter how unfair pluotnomy wicked.
They did what banks were supposed to do in a state capitalist economy: