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CITIGROUP PLUTONOMY MEMOS PDF

The World is dividing into two blocs – the Plutonomy and the rest. Citigroup Research is a division of Citigroup Global Markets Inc. (the “Firm”). 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 October 16, , Citigroup came out with a brochure for investors called “ Plutonomy: Buying Luxury, Explaining Global Imbalances” urging.

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Smith bruceedmonds Kevin Citiyroup. Consensus analyses that do not tease out the profound impact of the plutonomy on spending power, debt loads, savings rates and hence current account deficitsoil price impacts etc, i.

Citigroup’s Plutonomy Memo: “There are rich consumers, and there are the rest”

We think that despite the post-bubble angst against celebrity Mems, the trend of cost-cutting balance sheet-improving CEOs might just me,os way to risk-seeking CEOs, re-leveraging, going for growth and expecting disproportionate compensation for it. In determining whether the use made of a work in any particular case is a fair use the factors to be considered shall include: Both reports were leaked and made available on the WEB.

Buying Luxury, Explaining Global Imbalances. This tends to lead to calls for protectionism to save the low-skilled domestic jobs being lost.

Why kill it off, if you can join it? However this does not mean that governments are incapable of revoking property rights. They further see the luxury industry catering to plutonomists threatened by anti-corruption initiatives of China and India. Behold the Dark Side!

They claimed that their plutonomy index was way outperforming the stock market. I plutnomy these documents on a Public Dropbox folder, to share with anyone who wants them.

Plutonomy and the Precariat

While this tends to be something more often seen in countries with a shorter history of capitalist democracy, such as the Ukraine citigeoup to undo prior privatizationsor Russia where some of our clients believe events surrounding Mikhail Khodorovsky to be a form of nationalizationit can happen in the strangest of places. Why kill it off, if you can join it?

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Often these wealth waves involve great complexity, exploited best by the rich and educated of the time. As far as the deficit is concerned, the public has opinions. But as yet, there seems little political fight being born out on this battleground. They do not worry us much. Notify me of new posts via email. The answer is of course yes. Asset booms, a rising profit share and favourable treatment by market-friendly governments have allowed the rich to prosper and become a greater share of the economy in the plutonomy countries.

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

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. 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.

The wave of globalization that the world is currently surfing, is clearly to the benefit of global capitalists, as we have highlighted. But as yet, there seems little political fight being born out on this battleground. When Bill Moyers “signed off” with his last broadcast inhe extensively quoted from the Citigroup memos and explicitly warned that Plutocracy and Democracy “do not mix”:. The Managerial Aristocracy, like in the Gilded Age, the Roaring Twenties, and the thriving nineties, needs to commandeer a vast chunk of that rising profit share, either through capital income, or simply paying itself a lot.

And the Occupy movement is the first real, major, popular reaction that could avert this. There are rich consumers, few in number, but disproportionate in the gigantic slice of income and consumption they take.

The reports are available for the time being: When the s came along, there were sudden and sharp changes: This cycle resulted in a tremendous concentration of wealth, mainly in the top tenth of one percent of the population.

This further inflates the asset markets in these plutonomies, enabling the rich there to lower their savings rates further, and worsening their current account balances further.

Then comes a key-part of the first “Plutonomy” memo: There might be a connection with Robert Gordon. Buying Luxury, Explaining Global Imbalances”the analysts introduce the subject:.

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But if voters feel they cannot participate, they are more likely to divide up the wealth pie, rather ccitigroup aspire to being truly rich. From Wikipedia, the free encyclopedia. But we suspect this is a threat more citigrop felt during recessions, and periods of falling wealth, than when average citizens feel that they are better off.

By using this site, you agree to the Terms of Use and Privacy Policy. 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.

Can someonoe please e-mail me the report?

Plutonomy – Wikipedia

It is easy to drown in a lake with an average depth of 4 feet, if one steps into its deeper extremes. Perhaps one reason that societies allow plutonomy, is because enough of the electorate believe they have a chance of becoming a Pluto-participant. But does placing so much money in so few hands also pose risks? Plutonomy only works if the members of a society have the impression that they can still participate, despite the harsh inequalities, that they “can join it.

Init was times. To this end, the cleaning up of business practice, by high-profile champions of fair play, might actually prolong plutonomy. Firstly, if we are right, that plutonomy is to blame for many of the apparent conundrums that exist around the world, such as negative savings, current account deficits, no consumer recession despite high oil prices or weak consumer sentiment, then so long as the rich continue to get richer, the likelihood of these conundrums resolving themselves through traditionally disruptive means currency collapses, consumer recessions etc looks low.

To find out more, including how to control cookies, see here: To use Rawls-ian analysis, the invisible hand stops working.

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