“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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We can see a number of potential challenges to plutonomy. They had the capacity to do it, the skilled work force. Not long ago, President Barack Obama took over the auto industry, which was basically owned by the public.
There are, in our opinion, two issues for equity investors to consider.
No stalking or trolling. Fortunately, this is already happening. In fact, some of them are major.
It took two hours. One of the underlying factors, discussed mainly by economic historian Robert Brenner, was the falling rate of profit in manufacturing. The activism of those years, after a pretty dismal decade, really civilized the country in lots of ways that are permanent.
But does placing so much money in so few hands also pose risks? It was getting to the point of sit-down strikes, which are frightening to the business world — you could see it in the business press at the time — because a sit-down strike is just a step before taking over the factory and running it yourself. Notify me of new comments via email.
Interestingly, they also say this: And concentration of political power gives rise to legislation that increases and accelerates the cycle. We will posit that: Learn how your comment data is processed. Until then, there had been no financial crises since the Great Depression.
Plutonomy and the Precariat | HuffPost
And there were a number of things that could have been done. Citigroup seems to be perfectly happy with the rule of the rich. Of course, Naomi Klein, being a journalist rather than an investment banker, spent time with the victims of all these policies and thus was pretty pissed off about them.
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. Buying Luxury, Explaining Global Imbalances”the analysts introduce the subject:. 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.
According to Kapur and team, “the balance sheets of the plutonomists have been an plutonlmy transmission channel of monetary policy. It led to major changes in the economy — a reversal of several hundred years of progress towards industrialization and development that turned into a process of de-industrialization and de-development.
That means independent blogs, media outlets, etc. These memos prove the opposite, that the elite are perfectly happy to let us drown. The legislation, essentially bipartisan, drives new fiscal policies and tax changes, as well as the rules of corporate governance and deregulation.
Practically every country in the world is taking at least halting steps towards trying to do something about it. Email required Address never made public. Accusing another user of being a troll plutonimy shill can be viewed as an attack, depending on context. What might cause the elastic to snap back? Independent media will be delisted from search engines and their domains could be blocked.
Screw democracy, long live the plutocrats.
Plutonomy and the Precariat
And the Occupy movement is the first real, major, popular reaction that could avert this. Citigroup reports available for download mfmo So what are we talking about? To this end, the cleaning up of business practice, by high-profile champions of fair play, might actually prolong plutonomy. And it was egalitarian. Therefore it is apparent that Citigroup is paranoid that these memos by their analysts are being widely distributed. There are signs around the world that society is unhappy with plutonomy – judging by how tight electoral races are.
This is not something restricted to Europe. You are citibwnk using your WordPress. From CPS News more: Easier download of both documents: There are rich consumers, few in number, but disproportionate in the gigantic slice of income and consumption they take. There are, for the first time in human history, real threats to the decent survival of the species.
Through the s, as the decline was setting in, there were some important events that took place. They have to be around to provide a powerful state, which will protect us and bail us out when we get into trouble, but other than that they essentially have no function.