Plutonomy is a term that Citigroup analysts have used for economies “where economic growth is powered by and largely consumed by the wealthy few.”. NSA Leaks · Paranormal The Citigroup Plutonomy Memos: Two bombshell documents that Citigroup’s Link to the second memo pdf called. I cannot copy the memo, only read it on the web. Its willingness to write so honestly about our neoliberal capitalism, it is interesting and worthy.
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Plutonomy and the Precariat
Thank you most sincerely for the links. The first, and probably most potent, is through a labor backlash. Ldaked the first few years, by the mids — although the situation was objectively much harsher than it is today — nevertheless, the spirit was quite different. Notify me of new comments via email. One reason is that the US central bank Federal Reserve is reducing their asset purchases.
This week, the House will begin to mark-up the bill. While there is evidence that this is positive for the average worker for example Ottaviano and Peri it is also clear that high-cost substitutable labor loses.
We thought this was good time to bang the drum on plutonomy.
The plutoomy list is active, but not overly busy. Top Blog at WordPress. They’re so cute when they still believe. And the Occupy movement is the first real, major, popular reaction that could avert this.
Low-end developed market labor might not have much economic power, but it does have equal voting power with the rich. Either start your own sub-project or join one. Thank God that we have such splendid police forces whose members seem to be very happy to quash any unrest with batons, tear gas, pepper spray and a high degree of rough behaviour in order to keep the plutonomists happy! His web site is www.
Pretty soon those working hours were much higher in the United States than plutonmy other citihank countries like Japan and various places in Europe. Post was not sent – check your email addresses! So there was a period of stagnation and decline for the majority alongside a period of sharp concentration of wealth. Like say, Bachmann, Palin, etal? Lexked Private Equity and LBO funds are filling the risk-seeking and re-leveraging void, expecting and realizing disproportionate remuneration for their skills.
Also New Deal legislation was beginning to come in as a result of popular pressure. You are commenting using your WordPress. 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.
Home Help Login Register. Outsourcing, offshoring or insourcing of cheap labor is done to undercut current labor costs. It shows that the rich in the US continue to be in great shape. Little of this note should tally with conventional thinking. So the analysts started to think about “losers”as they call them, or the people who leaker need a bath, as Newt Gingrich would call it.
Plutonomy – Wikipedia
There might be a connection with Robert Gordon. People got by, but by artificial means such as longer working hours, high rates of borrowing and debt, and reliance on asset inflation like the recent housing bubble.
This leakex was last edited on 29 Novemberat Sorry, your blog cannot share posts by email. Download the Citigroup plutonomy memos here: I should say that, in the s and s, there was also the development of what several decades later became the high-tech economy: They are also perfectly happy to suppress these explosive memos.
Michael Moore’s Leaked Citibank Plutonomy Memo | unsettling economics
That is not true. A few years ago, two copies of these memos were leaked and were published on the internet. The political system began to dissolve. 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 Good Reverend Roger on June 23, You got to admire the cluelessness of people who deny the down and praise the up as if gravity had nothing to do with it. 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.
Things you could do now to push the cause? Ever since they were leaked to the internet a few years back, Citigroup has been trying desperately to hide these memos from the public.