In , Citigroup came out with a brochure for investors called “Plutonomy: Buying Luxury, Explaining Global Imbalances.” It urged investors. 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. The full report is available here MarPlutonomy-Report-Leaked-Citigroup-Memo-Part1.
|Published (Last):||28 May 2010|
|PDF File Size:||3.15 Mb|
|ePub File Size:||20.21 Mb|
|Price:||Free* [*Free Regsitration Required]|
My email is civileconomies gmail. Practically every country in the world is taking at least halting steps towards trying to do something about it.
There are a lot of reasons for it. Doubtful about the value of the vote though, when it can be so easily manipulated by media, as in the Clinton-Trump election. It would have taken a little popular support, but it could have made a major change in the economy. For the public, correctly, the deficit is not regarded as much of an issue.
Plutonomy and the Precariat
The developments that took place during the s set off a vicious cycle. Leave a Reply Cancel reply Enter your comment here The Occupy movements could provide a mass base for trying to avert what amounts to a dagger pointed at the heart of the country. Its willingness to write so honestly about our neoliberal capitalism, it is interesting and worthy of comment. We project that the plutonomies the U. Not literal numbers, but the right picture.
The public overwhelmingly supports higher taxes on the wealthy, which have declined sharply in this period of stagnation and decline, and the preservation of limited social benefits. These memos prove the opposite, that the elite are leakdd happy to let us drown.
And of course, to buy luxury-goods stocks.
Wait, now that I look around, I see that Yves Smith at Naked Capitalism posted about this on October 15,almost three years ago, and called for people to protest the annual meetings of the American Bankers Association.
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.
Companies by profit and loss Largest companies by revenue Largest financial services companies by revenue Largest manufacturing companies by revenue Public corporations by market capitalization Wealthiest organizations.
The outcome of the deficit commission is probably going to be the opposite. Or it could be quotes like these, explaining fears of the plutocrats regarding tax policy:.
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. There are going to be barriers, difficulties, hardships, failures. You citiibank commenting using your Facebook account.
Citigroup’s plutonomy memos | mathbabe
Look up plutonomy in Wiktionary, the free dictionary. OWSfinancerant. The political system began to dissolve. Behold the Dark Side! I have these documents on a Public Dropbox folder, to share with anyone who wants them. Stephan on January 24, And this is considered a good thing. For centuries, since the country began, it had been a developing society, and not always in very pretty ways. Or it could be quotes like these, explaining fears of the plutocrats regarding tax policy: They are richer than ever, more powerful than ever, controlling the political system, disregarding the public.
Link posts without a Statement will be removed after 20 minutes. Show them to your conservative friends, the ones who believe we still live in a society where everyone can be rich if they just work hard enough.
The full report is available here http: Learn how your comment data is processed. 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.
Now, the plutonomy is where the action is citibqnk it could continue like this. I have saved copies to my hard drive and will reblog this post on my blog as well. Of course, Naomi Klein, being a journalist plutobomy than an investment banker, spent time with the victims of all these policies and thus was pretty pissed off about them. Something has to be done about it very soon in a dedicated, sustained way.
You are commenting using your WordPress. Screw democracy, long live the plutocrats. And the Occupy movement is the first real, major, popular reaction that could avert this. That changed dramatically in the s. Thanks for posting — you might like this one too: Smith bruceedmonds Kevin P.
Finally, from the third memo: Titles and comments with an excess of caps lock, bold text, large fonts, text colors, exaggerated punctuation and other attention-seeking devices will be removed. The Citigroup Plutonomy Memos: Along with that came a significant shift of the economy from productive enterprise — producing things people need or could use — to financial manipulation.