Ajay Kapur, global strategist at Citigroup, and his research team came up with the term “Plutonomy” in to describe a country that is defined. The full report is available here MarPlutonomy-Report-Leaked-Citigroup-Memo-Part1. 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.

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References will be subject jemo editor approval before appearing. We project that the plutonomies the U. Something has to be done about it very soon in a dedicated, sustained way. But if voters feel they cannot participate, they are more likely to divide up the wealth pie, rather than aspire to being truly rich. Furthermore, the rising wealth gap between the cigigroup and poor will probably at some point lead to a political backlash.

Nice point to remember when your bourgeois-liberal friend starts ranting about those horrible irresponsible Americans with their maxed-out credit cards and gas-guzzling SUVs.

And there are a lot of things that can be done. Just send e-mail to gil —AT— merced-a. Link an External Response Have a response on your own site?

People got by, but by artificial means such as longer working hours, high rates of borrowing and debt, and reliance on asset inflation pluhonomy the recent housing bubble. In a number of other countries — the non-plutonomies plutobomy income inequality has remained around the levels of the mid s.

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It was getting to the point of sit-down strikes, which are frightening to the business world — you could see it in the business press at the time — because a sit-down strike is just a step before taking over the factory and running it yourself. Behold the Dark Side! Wealth concentration Economic inequality.

Citigroup’s plutonomy memos | mathbabe

Their strategy seems to be rather short-sighted. OWSfinancerant. This site uses cookies. Continental Europe ex-Italy and Japan are in the egalitarian bloc. Look up plutonomy in Wiktionary, the free dictionary. 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. 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.

Plutonomy and the Precariat.


Plutonomy and the Precariat | HuffPost

Finally, from the third memo: Retrieved from ” https: The rich have come back richer than ever. Update on Tuesday, April 30, at One plutoonmy the key forces helping plutonomists over the last 20 years has been the rise in the profit share — the flip side of the fall in the wage share in GDP. All three Citi plutonomy memos are available here.

The SEC requires this so investors will not be misled. Until then, there had been no financial crises since the Great Depression.

Plutonomy and the Precariat

Surely, then, it is the collapse of plutonomy, rather than the collapse of the U. They have succeeded in getting the second plutonomy report removed from Scrib.

Leave a Reply Cancel reply Enter your comment here They did what banks were supposed to do in a state capitalist economy: I mentioned before that, in the s, one of the most effective actions was the sit-down strike. The ongoing agony of the Great Recession has focused public discussion on the dramatic increase in the inequality of income and wealth among Americans.

Could the plutonomies die because the dream is dead, because enough of society does not believe they can participate? Learn how your comment data is processed.