“Are they real?” That’s the question people usually ask when they hear for the first time of the “Citigroup Plutonomy Memos.” The sad truth is. 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. In , Citigroup came out with a brochure for investors called “Plutonomy: Buying Luxury, Explaining Global Imbalances.” It urged investors.

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Perhaps one reason that societies allow plutonomy, is because enough of the electorate believe they have a chance of becoming a Pluto-participant. Follow Blog via Email Enter your email address to follow this blog and receive notifications of new posts by email.

Little of this note should tally with conventional thinking. Submit a new link.

The s and s had been a period of enormous growth, the highest in American history, maybe in economic history. The Occupy movement has been an extremely exciting development. These economies have seen the rich take an increasing citbank of income and wealth over the last 20 years, to the extent that the rich now dominate income, wealth and spending in these countries.

You are commenting using your WordPress. To this end, the cleaning up of business practice, by high-profile champions of fair play, might actually prolong plutonomy. I should say that, in the s and s, there was also the development of what several decades later became the high-tech economy: Thank you most sincerely for the links.

The answer is of course yes.

At the other extreme, insourcing, or allowing meo 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.


They are also perfectly happy to suppress these explosive memos.

That was true even in very dark times. Yes, what could possibly “go wrong? Link posts without a Statement will be removed after 20 minutes. Comments on issue 74 – repaired post and read comments on issue Seeing as how Megaupload is offline, here are the Reports via two other links: Richard William Posner permalink. What might cause the elastic to snap back? A TomDispatch regularhe is the citibsnk 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.

We are not taking anything down, we take up the fight against the people who believe that they have the right to be the unelected leaders of the world. To this end, the rise of the far right in a number of European countries, or calls from the right to slow down the accession of Turkey into the EU, and calls from the left to rebuild trade barriers and protect workers citibakn far left of Mr. The other, of course, is environmental catastrophe. Newer Post Older Post Home.

Plutonomy and the Precariat

Welcome to Reddit, the front page of the internet. Conspiracy Theory – a hypothesis that some covert but influential organization is responsible for a circumstance or event.

He has the same cadre of economic advisors as GWB and they have convinced him that the financial industry can patrol itself with no need for any significant new regulation. And this is connected to a huge propaganda system, proudly and openly declared by the business world, to try to convince people that climate change is just a liberal hoax.


Plutonoky key challenge for corporates in this space is to maintain the mystique of prestige citivank trying to grow revenue and hit the mass-affluent market. Why kill it off, if you can join it? Could the plutonomies die because the dream is dead, because enough of society does not believe they can participate?

So Citigroup did their duty and published two explosive memos, which should have become mainstream news, but eventually did not.

Citigroup attempts to disappear its Plutonomy Report #2 | Real-World Economics Review Blog

You are commenting using your Facebook account. Not long ago, President Barack Obama took over the auto industry, which was basically owned by the public. In one of the suburbs of Boston, about a year ago, something similar happened.

However, they warn that in the short-term there is potential for a backlash. So what are we talking about? First, rich people are supposed to be good for the economy because they invest, not because they spend. For the public, correctly, the deficit is not regarded as much of an issue. This one sounds familiar, like someone told me about it at some point. To stay on top of important articles like these, sign up to receive the latest updates from TomDispatch.