So what are we talking about? In and , several analysts at Citigroup took a very, very close look at the economic inequalities within the USA and other countries and wrote two memos which were addressed to their very wealthy customers. So Citigroup did their duty and published two explosive memos, which should have become mainstream news, but eventually did not. Usually one should think that once such important documents are in the "public domain", nothing should stop them any more from being distributed and being openly discussed. Examples of their activities can be found all over the internet.
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My email is civileconomies gmail. Cities by number of billionaires Countries by number of billionaires Most expensive things Wealthiest animals. Plutonomics The population at large might still endorse the concept of plutonomy but feel they have lost out to unfair rules.
What if the thoughts of OWS-protesters slip into the mainstream? Notify me of follow-up comments via email. Leave a Reply Cancel reply Enter your comment here In and Citigroup issued two now notorious but highly significant reports for the exclusive use of its richest clients. Disruptive technology-driven productivity gains, creative financial innovation, capitalist- friendly cooperative governments, an international dimension of immigrants and overseas conquests invigorating wealth creation, the rule of law, and patenting inventions.
View Printer Friendly Version. This week, the House will begin to mark-up the bill. Email Article to Friend. Yes, they are real, and instead of being discussed on mainstream media outlets all over America and beyond, Citigroup was surprisingly successful so far in suppressing these memos, using their lawyers to issue takedown-notices whenever these memos were being made available for download on the internet.
Reader Comments 1 Searching for the Citigroup reports? Update on Tuesday, April 30, at The March Plutonomy memo, quoted above, has been taken down from the linked site at the request of Citi. Finding pure-plays on the plutonomy theme, however, is tricky. Citigroup reports available for download here: Edward Fullbrook and Jamie Morgan.
I managed to get 2 from the Greencard site…. Why kill it off, if you can join it? This page was last edited on 29 Novemberat Part 1 Part 2. 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. Top Blog at WordPress. In a number of other countries — the non-plutonomies — income inequality has remained around the levels of the mid s. Michael Moore referred to them in Capitalism: The rise of this inequality is not universal.
The October memo is here. Well anyway, nice to know that great minds think alike, as it were. They further see the luxury industry catering to plutonomists threatened by anti-corruption initiatives of China and India.
To this end, the rise of the far right in a number of European countries, or calls from the right to slow down strtaegy accession of Turkey into the EU, and calls from the left to rebuild trade barriers and protect workers the far left of Mr. Citigroup wrote memos in and addressed to investors, basically saying that the world is dividing up more and more into a small group of rich people who drive the economy, surrounded by a large number of poor people whose economic interests can be safely ignored.
The first memo is dated October 16, 35 pages and is titled: In this book, he shows a strong long-term trend toward more concentrated income and wealth. Edward Fullbrook has found and written about another Citi plutonomy memo. Seeing as how Megaupload is offline, here are the Reports via two other links: Asset booms, a rising profit share and p,utonomy treatment by market-friendly governments have allowed the rich to prosper and become a greater share of the economy in the plutonomy countries.
However, labor has, relatively speaking, lost out. TOP Related Posts.
CITIGROUP EQUITY STRATEGY PLUTONOMY PDF
Origins[ edit ] Plutonomy entered the language as late as the s in the work of John Malcolm Forbes Ludlow. In this book, he shows a strong long-term trend toward more concentrated income and wealth. Some economists took issue with this diagnosis. In a paper, which he wrote for customers of his new employer, Bank of America Merrill Lynch , one of the largest wealth management firms, Kapur and his team defended Piketty against critics. In their study "Piketty and Plutonomy: 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.
Well anyway, nice to know that great minds think alike, as it were. Thanks for posting — you might like this one too: The full report is available here http: 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. But does placing so much money in so few hands also pose risks? Fill in your details below or click an icon to log in: Indeed, traditional thinking is likely to have issues with most of it. A few years ago, two copies of these memos were leaked and were published on the internet. However, labor has, relatively speaking, lost out. However, Citigroup seems to have been successful in preventing a wider discussion about the memos, due to their legal actions.