1. Old News, But Not Enough People Know It This is old news, but old news that most people don’t know about, because Citigroup has been. Ajay Kapur, global strategist at Citigroup, and his research team came up with the term “Plutonomy” in to describe a country that is defined. Equity risk premium embedded in “global imbalances” are unwarranted. Citigroup’s second Plutonomy report, titled “Revisiting Plutonomy.
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According to Kapur and team, “the balance sheets of the plutonomists have been an important transmission channel of monetary policy. Those being undercut are losers in the short term. Regarding your closing quote about equal voting power with the rich, I would inreasingly question this. I managed to get 2 from the Greencard site…. The October memo is here.
Back when I worked at ThinkProgress, I repeatedly broke stories using leaked memos and other internal documents from powerful corporations. We thought this was good time to bang the drum on plutonomy. Plutocracies always destroy themselves, and many innocents along with them. Behold the Dark Side! These economies have seen the rich take an increasing share of income and wealth over the last 20 years, to the extent that the rich now dominate income, wealth and spending in these countries. The SEC requires this so investors will not be misled.
However in democracies this is rarely tolerated forever.
realitybase – Journal – The Citigroup Plutonomy Memos
In one of the two memos made famous in Michael Moore’s film Capitalism: Newer Post Older Post Home. The fact that a work is unpublished shall not itself bar a finding of fair use if such finding is made upon consideration of all the above factors.
The ongoing agony of the Great Recession has focused public discussion on the dramatic increase in the inequality of income and wealth among Americans. We, Ajay Kapur, Niall MacLeod and Narendra Singh, research analysts and the authors of this report, hereby certify that all of the views expressed in this research report accurately reflect our personal views about any and all of the subject issuer s or securities.
Well, it could be the above quote from memo 1 a point made several times throughout the equittyexplicitly linking the trend of growing income inequality to the stuff neoliberal politicians are always trying to push on governments.
And of course, to buy luxury-goods stocks. It shows that the rich in the US continue to be in great shape. That view is vigorously denied in public by banks, other business organizations, their trade groups, strateby boards, economists, policy elites, and other guardians of conventional wisdom.
You are commenting using your Facebook account. For one thing, its not even clear if the Plutonomy Memos constitute protected copyright material. Buying Luxury, Explaining Global Imbalances.
There are, in our opinion, two issues for equity investors to consider.
One reason is that the US central bank Federal Reserve is reducing their asset purchases. Concentration of wealth and spending in the hands of a few, probably has its limits. Ever since they were leaked to the internet a few years back, Citigroup has been trying desperately to hide these memos from the public.
Post was not sent – check your email addresses! This needs to stop, as every American and every citizen in the western world needs to know what people like the analysts of Citigroup really think about the inequalities which exist within the societies, how the rich should preserve their domination, and what possible “backlash” can be expected – and what the consequences are of living in a “plutonomy.
Citigroup seems to be perfectly happy with the rule of the rich. They present themselves as looney, as well. Plutocrats repent, your end is near.
Notify me of new posts via email. Ultimately, the rise in income and wealth inequality to some extent is an economic disenfranchisement of the masses to the benefit of the few. Update on Sunday, January 2, at Fill in your details below or click an icon to log in: Despite not having received widespread mainstream coverage, the Citigroup memos have been discussed in a handful TV-clips or documentaries.
The second memo, titled “Revisiting Plutonomy: No such requirement applies when Citi speaks to the rest equty us—we expect to be lied to, and we are seldom disappointed.
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. In this book, he shows a strong long-term trend toward more concentrated income and wealth. They should be required reading. However this does not mean that governments are incapable of revoking property rights. One of 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. Outsourcing, offshoring or insourcing of cheap labor is done to undercut current labor costs.