The effects of the us plutonomy on the relationship between capitalists and labor. Wait, now that i look around, i see that yves smith at naked capitalism posted about this on october 15, 2009, almost three years ago, and called for people to protest the annual meetings of the american bankers. By the way, if anyone has difficulty with adobe pdf, i have been using an open source pdf reader called sumatra. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this repor t. Citigroup plutonomy memos pdf the world is dividing into two blocs the plutonomy and the rest. Nsa leaks paranormal the citigroup plutonomy memos. The memo citigroup doesnt want you to see bill black white collar criminologist william black dissects a 2005 citigroup memo intended for its wealthist clients that describes the us, uk, and canada as plutonomies countries where rule by an ultrarich managerial class has replaced democracy. Two bombshell documents that citigroup s lawyers try to suppress, describing in detail the rule of the first 1%.
Thats the question people usually ask when they hear for the first time of the citigroup plutonomy memos. If it disappears from there, hunt for the filename citigroup oct162005 plutonomy reportpart1. The other citigroup plutonomy memo mentioned in michael moores. The plutonomy symposium rising tides lifting yachts. On july, 2012, a tumblr blog by the name of rich kids of instagram started sharing public instagram photos from the rich and sometimes famous. Citigroup wrote memos in 2005 and 2006 addressed to investors.
For the general population, the 99% in the imagery of the occupy movement, its been pretty harsh and it could get worse. Citigroup investment research and global equity strategy. None are more hopelessly enslaved than those who falsely believe they are free. And todays plutonomy, an economy fueled by the spending of the relatively few people who guaranteed that luxury brands did best during the recession. Two bombshell documents that citigroup s link to the second memo pdf called. Rich kids, plutonomy, and income inequality in the 21st. Its well known that the rich have an outsized influence on the economy. Citibank leaked memo plutonomy pdf in, citigroup came out with a brochure for investors called plutonomy. Those reports, since leaked, plainly discuss the power of the plutonomy in america, and how it would only strengthen, as long as the the rest us the nonplutonics could be kept in the dark about the plutonomy existence, its role, and its overarching control in the american.
In one of the two memos made famous in michael moores film capitalism. Citigroup plutonomy memos pdf united pdf comunication. If plutonomy explains away many conundrums that our equity. In the october 2005 note, the analysts said that plutonomies have occurred. Citigroups second plutonomy report, titled revisiting plutonomy. Plutonomy is a term that citigroup analysts have used for economies where economic growth in three reports for superrich citigroup clients published in and, a team of citigroup analysts elaborated on their thesis that the share.
The plutonomy of the 1% the bichler and nitzan archives. The circumstance that they were set free by the machinery from. Citigroup plutonomy memo pdf ajay kapur, global strategist at citigroup, and his research team came up with the term plutonomy in to describe a country that is defined. Two bombshell documents that citigroup s lawyers try to suppress, describing in detail the rule of the first 1% politicalgates truth11 on december 29, 2011 that there also exists an additional third, shorter citigroup memo, dated september 29, 2006, which is being mentioned here. Maybe im the last person whos hearing about the citigroup plutonomy memos, but theyre blowning me away. This is a forum for free thinking, not hate speech. Buying luxury, explaining global imbalances, october 14, 2005. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this rep ort. Citigroups shocking plutonomy reports ht michael moore. Ajay kapur, global strategist at citigroup, and his research team came up with the term plutonomy in 2005 to describe a country that is defined by massive income and wealth inequality.
Pdf the us plutonomy and its effect on the capitalistlabor. Michael moore highlights a confidential report that citigroup initially circulated only to its wealthiest customers. Heres citigroup plutonomy report part 2 in convenient. We think this income and wealth inequality plutonomy helps explain many of the conundrums that vex equity investors. Old news, but not enough people know it this is old news, but old news that most people dont know about, because citigroup has been. Citigroup research is a division of citigroup global markets inc. People would probably get angry about it, except the second plutonomy report has been steadily disappearing from the interent since it leaked. Every picture showed how the wealthiest enjoyed spending their money and the many adventures brought on by the good ol american dream. The other citigroup plutonomy memo mentioned in michael moores movie is.
The first known use of the term in english dates from 1631. Economic growth that is powered and consumed by the wealthiest upper class of society. A love story, ajay kapur, then citigroup s chief global equities strategist, says this. This article offers a study on the plutonomy of the 1% and what their. Citigroup analysts have also used the word plutonomy to describe economies where economic growth is powered by and. Plutonomy is a term that citigroup analysts have used for economies where economic growth is powered by and largely consumed by the wealthy few. Citigroup plutonomy report part 1 oct 16, 2005 the world is dividing into two blocs the plutonomy and the rest. Back in october, we coined the term plutonomy the global investigator, plutonomy. Respect other views and opinions, and keep an open. Citigroup plutonomy report pdf the reports are available for the time being. Plutonomy refers to a society where the majority of. The world is dividing into two blocs the plutonomy and the rest. In 2005, citigroup came out with a brochure for investors called plutonomy.
Although they havent figured it out yet, this is really what the occupy movement is protesting. The brochure says, the world is dividing into two blocs the plutonomy and the rest. Rich kids of instagram the spoils of income inequality. Plutonomy is the science of production and distribution of wealth. Equity multiples appear too low, the profit share of. Plutonomy definition of plutonomy by the free dictionary.
Look up plutonomy in wiktionary, the free dictionary. Global the plutonomy symposium rising tides lifting yachts 7. Plutonomy refers to a society where the majority of the wealth is controlled by an evershrinking. Citigroup wrote memos in 2005 and 2006 addressed to investors, basically saying that the. It urged investors to put money into a plutonomy index. The result, kotkin says, is a more stratified, less permeable social order.
In plutonomies the rich absorb a disproportionate chunk of the. The plutonomy symposium rising tides lifting yachts im nothing compared to s abner doon when it comes to finance but if the following documents from citigroup are real then here is proof from 2005 that citigroup and possibly others knew the financial meltdown and housing crisis that came in 2007 and 2008 was on its way soon. Unlike systems such as democracy, capitalism, liberalism, socialism or anarchism, plutocracy is not rooted in an established political philosophy. So, dont give too much credit to the puffed up hacks at citigroup. Citigroup went to great length to suppress the reports distribution on the web.
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