Plutonomy is a term that Citigroup analysts have used for economies “where economic growth In three reports for super-rich Citigroup clients published in and , a team of Citigroup analysts elaborated on their thesis that the share. a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report . Reports Letter to Shareholders. Reports. Annual Report (full web version) · Annual Report (pdf) · Proxy Statement. Letter to Shareholders.
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Corporate tax rates could rise, choking off returns to the private sector, and personal taxation rates could rise — dividend, capital-gains, and inheritance tax rises would hurt the plutonomy.
We thought this was good time to bang the drum on plutonomy. Easier download of both documents: The other, of course, is environmental catastrophe.
Plutonomy and the Precariat
That is not true. A multinational decided to close down a profitable, functioning facility carrying out some high-tech manufacturing.
Notify me of new comments via email. The Occupy movement has been an extremely exciting development.
There are going to be barriers, citibannk, hardships, failures. And to not worry about the stuff news reports on the economy always talk about, like lack of consumer confidence and high gas prices.
There are many lessons to be learned from the film — But the one that struck me, the one I’m motivated to write about now They posit a few reasons for this change: And there are other things going on like that. Within a couple of years, they started having to put money into the party coffers in order to get ahead, a topic studied mainly by Tom Ferguson.
Furthermore, the rising wealth gap between the rich and poor will probably at some point lead to a political citiibank. The World is dividing into two blocs — the Plutonomy and the rest. In three reports for super-rich Citigroup clients published in anda team of Citigroup analysts elaborated on their thesis that the share of the very rich in national income of plutonomies had become so large that what is going on in these economies and in their relation with other economies cannot repoet properly understood any more with reference to the average consumer: A TomDispatch regularhe is the author of numerous best-selling political works, most recently, Hopes and ProspectsCittibank the Futureand Occupypublished by Zuccotti Deport Pressfrom which this speech, given last October, is excerpted and adapted.
After the first few years, by the mids — although the situation was objectively much harsher than it is today — nevertheless, the spirit was quite different.
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The issue is joblessness. Fill in your details below or click an icon to log repotr Notify me of new posts via email. But if voters feel they cannot participate, they are more likely to divide up the wealth pie, rather than aspire to being truly rich.
Plutonomy and the Precariat | HuffPost
These are class reasons, and reflect the lack of popular political mobilization. While the financial wealth of the sub-millionaires is expected to increase by 3. Our whole plutonomy thesis is based on the idea that the rich will keep getting richer.
In a paper, which he wrote for customers of his new employer, Bank of America Merrill Lynchone of the largest wealth management firms, Kapur and his team defended Piketty against critics. The workforce and the union offered to buy it, take it over, and run it themselves. Plutonomies have occurred before in sixteenth century Spain, in seventeenth century Holland, the Gilded Age and the Roaring Twenties in the U. Thanks for posting — you might like this one too: Email subscription to this blog Join 16, other followers.
In their study “Piketty and Plutonomy: Fill in your details below or click an icon to log in: The principle of “one person — one vote”? They claimed that their plutonomy index was way outperforming the stock market. Steel decided to close one of its major facilities in Youngstown, Ohio.
Citigroup’s Shocking ‘Plutonomy’ Reports — h/t Michael Moore
That was true even in very dark times. We project that the plutonomies the U. Citigroup reports available for download here: Pretty soon those working hours were much higher in the United States than in other industrial countries like Japan and various places in Europe. But unless the spirit of the last year, here and elsewhere in the country and around the globe, continues to grow and becomes a major force in the social and political world, the chances for a decent future are not very high.