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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Despite not having received widespread mainstream coverage, the Citigroup memos have been discussed in a handful TV-clips or documentaries. So I think you’re right – they had their ass handed to them, and p,utonomy have little hesitation to hire Big Marketing people they trust to perform “internet voodoo” for them next time.
Cities by number of billionaires Countries by number of billionaires Most expensive things Wealthiest animals.
Plutonomy – Wikipedia
In a sense, this backlash has been epitomized by the media coverage and actual prosecution of high-profile ex-CEOs who presided over financial misappropriation. You are commenting using your WordPress. What might cause the elastic to snap back? The share of this group in global financial wealth would thus increase to 5. 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.
Fill in your details below or click an icon to log in: Captain Utopia on June 25, If there is one group of people who need to know the truth about what is really going on within the society and the economy, minus the propaganda, then it’s businesspeople who have a lot of money to invest, and who want to invest wisely.
Christian Arnsperger and Yanis Varoufakis Trade and inequality: At the other extreme, insourcing, or allowing mass immigration, which might price domestic workers out of jobs, leads to calls for anti-immigration policies, at worst championed by those on the far right. You have to form the structures that will be sustained, that will go on through hard times and can win major victories.
Plutonomy, we suspect is elastic. The developments that took place during the s set off leakeed vicious cycle. The mailing list is active, but not overly busy.
Sorry, your blog cannot share posts by email. During this discussion, Ajay Kapur the author of the plutonomy-theses, which is closely related to Piketty’s theses, entered the public stage again in May Could the plutonomies die because the dream is dead, because enough of society does not believe they can participate?
For leakked thing, its not even clear if the Plutonomy Memos constitute protected copyright material. Often these wealth waves involve great complexity, exploited best by the rich and educated of the time.
The first, and probably most potent, is through a labor backlash. And concentration of political power gives rise to legislation that increases and accelerates the cycle. Instead of just walking away, the workforce and the community decided to get together and buy it from the company, hand it over to the work force, and turn it into a worker-run, worker-managed facility. The blog “No Apparent Motive” reported that they received a take-down letter from Citigroup’s lawyers after they posted a download link to a copy of one of the memos:.
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. Things like this continue.
There are signs around the world that society is unhappy with plutonomy – judging by how tight electoral races are. Their strategy seems to be rather short-sighted. Low-end developed market labor might not have much economic power, but it does have equal voting power with the rich.
These are class mfmo, and reflect the lack of popular political mobilization. My meemo is leninha. Little of this note should tally with conventional thinking.
Part 1 Part 2. Buying Luxury, Explaining Global Imbalances. According to Kapur and team, “the balance sheets of the plutonomists have been an important transmission channel of monetary policy. If there had been enough popular support, if there had been something like the Occupy movement that could have gotten involved, they might have succeeded. There are rich consumers, few in number, but disproportionate in the gigantic slice of income and consumption they take. The name is familiar.
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Plutonomy and the Precariat
We project that the plutonomies the U. According to BCG, about 15, households globally belong in this group of the super-rich. Just send e-mail to gil —AT— merced-a. Retrieved from ” https: