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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Like say, Bachmann, Palin, etal?
And this is considered a good thing. They go on to say: And concentration of political power gives rise to legislation that increases and accelerates the cycle. There are signs around the world that society is unhappy with plutonomy — judging by how tight electoral races are.
On Politics and Money. To this end, the cleaning up of business practice, by high-profile champions of fair play, might actually prolong plutonomy. Behold the Dark Side!
This could be a period of irreversible decline. The activism of those years, after a pretty dismal decade, really civilized the country in lots of ways that are permanent. What bothers me most about this is that Obama is memoo very little about it. Our thesis is that the rich are the dominant drivers of demand in many economies around the world the US, UK, Canada and Australia.
Update on Tuesday, Plutonomyy 24, at My email is civileconomies gmail.
Citigroup’s Plutonomy Memo: “There are rich consumers, and there are the rest”
For example, inUK government withdrawal of financial support bankrupted Railtrack, the UK rail operator, effectively re-nationalizing railway assets on the cheap. It shows that they consider the end of crony capitalism corporations subsidized by government to be the equivalent of theft:. The full report is available here http: OWSfinancerant. And to not worry about the stuff news reports on the economy always talk about, like lack of consumer confidence and high gas prices.
During this discussion, Ajay Kapur the author of the plutonomy-theses, which is closely cigigroup to Piketty’s theses, entered the public stage again in May Interestingly, they also say this:. The parties dissolved in many ways.
Citigroup’s Plutonomy Memo: “There are rich consumers, and there are the rest” – Elpidio Valdes
The citigrpup, of course, is environmental catastrophe. The ongoing agony of the Great Recession has focused public discussion on cittigroup dramatic increase in the inequality of income and wealth among Americans. Smith bruceedmonds Kevin P. So it’s interesting when we catch them agreeing with me when they give private advice to the investor class. Email required Address never made public.
One reason is that the US central bank Federal Reserve cihigroup reducing their asset purchases. Follow Blog via Email Enter your email address citigtoup follow this blog and receive notifications of new posts by email. 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. 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.
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 cirigroup large number of poor people whose economic interests can be safely ignored.
First, rich plugonomy are supposed to be good for the economy because they invest, not because they spend. Furthermore, the plutonmy wealth gap between the rich and poor will probably at some point lead to a political backlash. Top Blog at WordPress. Fill in your details below or click an icon to log in: Learn how your comment data is processed. Take a look at the polls. Corporate tax rates could rise, choking off returns to the private sector, and personal taxation rates could rise — dividend, capital-gains, and inheritance tax rises would hurt the plutonomy.
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 October, is excerpted and adapted.
Thank you most sincerely for the links. Not long ago, President Barack Obama took over plufonomy auto industry, which was basically owned by the public. Or it could be quotes like these, explaining fears of the plutocrats regarding tax policy:.
Significantly it notes that: Look up plutonomy in Wiktionary, the free dictionary. And there are other things going on like that.
There are signs around the world that society is unhappy with plutonomy — judging by how tight electoral races are. Here, we believe lies a cornerstone of the current wave of plutonomy, and with it, the potential for capitalists around the world to profit. You are commenting using your Plutohomy.