Plutocracy citibank memo pdf plutocracy citibank memo pdf plutocracy citibank memo pdf download. Out thesis is the rich is the dominant drivers of demand in many economies around the world the us, uk, canada and australia. Citigroup plutonomy report part 1 oct 16, 2005 the world is dividing into two blocs the plutonomy and the rest. Its well known that the rich have an outsized influence on the economy. There are rich consumers, few innumber, but disproportionate in the gigantic slice of income and consumption they take. Citigroup economic surprise index yardeni research. Jun 06, 2005 citigroup said monday that personal information on 3. The world is dividing into two blocs the plutonomy and the rest. Citigroup analysts have also used the word plutonomy to describe economies where economic growth is powered by and. Oct 16, 2010 the citigroup plutonomy memos saturday, october 16, 2010 at 04. Pdf the us plutonomy and its effect on the capitalistlabor.
The circumstance that they were set free by the machinery from the. For a report that matthew yglesias calls a bit of a cult classic among economics writers, the systematic removal of plutonomy 2 from the internet sure hasnt gotten much press. None are more hopelessly enslaved than those who falsely believe they are free. Despite this, citi nigeria continued to play its critical role as. Pdf the biocultural ethic affirms the vital value of the links that have coevolved between specific life habits, habitats, and communities of coin. It delivered a double since then after i said it looked like. A n a l y s i s citi global economic outlook for 2010 and. Plutocracy citibank memo pdf the citigroup plutonomy memos. Citigroup went to great length to suppress the reports distribution on the web schmitt.
Ows a third threat comes from the potential social backlash. Citigroups second plutonomy report, titled revisiting plutonomy. Citigroup plutonomy october 2005 pdf the first memo is dated october 16, 2005 35 pages and is titled. Indeed, if the rich keep getting richer, as we suggest, savings rates might get even worse in the plutonomy countries. The nations top 1% of households own more than half the nations stocks, according to the federal reserve. If plutonomy explains away many conundrums that our. In september 2006 citigroup published a report which they files6674234 citigroup oct16 2005 plutonomy reportpart1. Citigroup attempts to disappear its plutonomy report. The history of plutonomys conceptual development remains clouded in secrecy. Maybe im the last person whos hearing about the citigroup plutonomy memos, but theyre blowning me away.
Citigroup and computershare form strategic alliance citigroup granted options over computershare equity new potential revenue opportunities for computershare melbourne, australia, august 28, 2002 computershare limited, the worlds largest share registry. Citigroup plutonomy memos pdf united pdf comunication. 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. That plutonomy is the way they believe the economy works as daveo says. With a new ceo in position, citigroup has repositioned its global franchise in 2008, to ensure bet. 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. By the way, if anyone has difficulty with adobe pdf, i have been using an open source pdf reader called sumatra.
Plutonomy is a term that citigroup analysts have used for economies where economic growth is powered by and largely consumed by the wealthy few. Oct 16, 2005 in a plutonomy there is no such animal as the u. Breaking up bank of america and citigroup isnt as crazy as it sounds the sum of the parts of these two banks may be worth more than the whole. Back in october, we coined the word plutonomy the global investigator, plutonomy. Citigroup research is a division of citigroup global markets inc. As we believe plutonomy explains away some of the conundrums we highlighted above, we are very relaxed about these issues. But there is as tom hickey says a button to download the pdf file, right at the top line of the document. Download all posts by politicalgates about the faked pregnancy as pdf document here. Plutonomy is the science of production and distribution of wealth.
Buying luxury, expanding global imbalances, october 14 2005. Capitalism, plutonomy and the pursuit of wealth the. Realitybase readers know that i think this is in large part due to. It was on what they called plutonomy an idea theyd been hawking around for a while and which was summarised in the wall street journal in 2007 as follows. The march 2005 plutonomy memo, quoted above, has been taken.
But the fact that plutonomy as a realworld political phenomenon is conceptually driven, rather than merely an historical accident, emerged to public view in 2005 when the first of three citigroup documents prepared for its wealthiest clients were leaked. For example, in advising investors, citigroup analysts coined the phrase plutonomy for. In a report called the plutonomy symposium rising tides lifting yachts, ajay kapur, citigroup s global strategist, says the balance sheets of the rich are in great shape, and will get much better, which is why he recommends going out and buying stocks of companies that cater to that very select market. Citigroup plutonomy memos pdf the world is dividing into two blocs the plutonomy and the rest. Jan 24, 2011 michael moores leaked citibank plutonomy memo. White collar criminologist william black dissects a 2005 citigroup memo intended for its wealthist clients. Citigroup disclosed this week that a box with computer tapes containing personal data on 3.
Citigroup economic surprise index page 1 april 22, 2020 citigroup economic surprise index. Buying luxury, explaining global imbalances by ajay kapur, niall macleod and narendra singh. Look up plutonomy in wiktionary, the free dictionary. In 2005 and 2006, several analysts at citigroup took a very, very close look at the economic inequalities within the usa and other countries and wrote two memos which were addressed to their very wealthy customers. Two bombshell documents that citigroup s link to the second memo pdf called. The news is the latest in a string of data losses that open the. Yes, they are real, and instead of being discussed on mainstream media outlets all over america and beyond, citigroup was surprisingly successful so far in suppressing these memos, using their lawyers to issue takedownnotices whenever these. Breaking up bank of america and citigroup isnt as crazy. Citigroup plutonomy october 2005 pdf citigroup plutonomy october 2005 pdf download.
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. Pdf implications of the biocultural ethic for earth stewardship. Aug 30, 2012 maybe im the last person whos hearing about the citigroup plutonomy memos, but theyre blowning me away. Michael moores leaked citibank plutonomy memo unsettling. Citigroup plutonomy report pdf the reports are available for the time being. Breaking up bank of america and citigroup isnt as crazy as. Buying luxury, explaining global imbalances download pdf first citigroup plutonomy report. Economists have shown increasing wealth has concentrated in hands of a few.
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. Jun 24, 2011 in september 2006 citigroup published a report which they have been trying to suppress ever since. We think this income and wealth inequality plutonomy helps explain many of. Correspondingly, social actions must submit to the scientific principles of freemarket com. Perhaps one reason that societies allow plutonomy, is because enough of the electorate believe they have a chance of becoming a plutoparticipant. The year 2015 was a challenging year for nigeria in terms of the economic environment. Nsa leaks paranormal the citigroup plutonomy memos. The political economy of bubbles realworld economics. Jan 08, 2007 its well known that the rich have an outsized influence on the economy. A n a l y s i s citi global economic outlook for 2010 and beyond. Download all posts by politicalgates about the faked pregnancy as pdfdocument.
Citigroup attempts to disappear its plutonomy report which shows that the us economy is designed to increase income inequality and should be expected to do so in the future. Plutonomy the citigroup plan for the megarich at cost to. Citigroups shocking plutonomy reports ht michael moore. Ajay kapur, global strategist at citigroup, and his research. Although they havent figured it out yet, this is really what the occupy movement is protesting. Dec 01, 2011 i tried to find a better article on citigroups disappearing plutonomy report than the personal blog linked above, but its just not out there. Thats the question people usually ask when they hear for the first time of the citigroup plutonomy memos. Nov 18, 2009 plutonomy is not the sole, or even major, thesis that these rich pricks base their life practices on in order to maintain and expand their positions. Pdf a panel on marketing as mystification convened at the 2011 academy of marketing conference in. Citigroup said monday that personal information on 3. To use rawlsian analysis, the invisible hand stops working. Average weekly price divided by 52week forward consensus expected operating earnings per share.
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