Leaked citigroup memo shows economic domination agenda of. We think this income and wealth inequality plutonomy helps explain many of. The world is dividing into two blocs the plutonomy and the rest. If plutonomy explains away many conundrums that our. But it makes no sense when it seems to suggest that economies following the plutonomy model are somehow healthier than the continental european economies and more egalitarian economies. Citibank leaked memo plutonomy pdf in, citigroup came out with a brochure for investors called plutonomy. Indeed, if the rich keep getting richer, as we suggest, savings rates might get even worse in the plutonomy countries. Get your meddling kid posse to care enough, and well talk.
Citigroups shocking plutonomy reports ht michael moore. Citigroup plutonomy memos pdf the world is dividing into two blocs the plutonomy and the rest. Continental europe exitaly and stratevy are in the egalitarian bloc. Aug 12, 2010 in the must read, october 26th, 2005 leaked citigroup memo, titled equity strategy, plutonomy, buying luxury, global imbalances the fear of a potential backlash against the plutocracy is discussed at length. Kapur estimates that in 2005, the richest 20 may have been. Feb 12, 2018 in october 16, 2005, citigroup came out with a brochure for investors called plutonomy. Citi offered jack lew a big bonus to secure a highlevel government position.
Citigroup research is a division of citigroup global markets. In researching this idea on a global level and looking for stock ideas we also. 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. Oct 31, 2009 leaked citigroup memo shows economic domination agenda of the top 1% wealthiest. Firstly, if we are right, that plutonomy is to blame for many of the apparent conundrums that. The global investigator the plutonomy symposium rising tides lifting yachts time to recommit to plutonomy stocks binge on bling. Plutonomy refers to the rich, those who buy luxury goods and so on, and thats where the action is. In this book, he shows a strong longterm trend toward more concentrated income and wealth. Since 2000 was the peak year in equities, and the top 1% of households have a lot more equities in their net worth than the rest of the population who tend to have more real estate, these data might exaggerate the u. Eight years after kapur and his team developed and published their plutonomy thesis, the french economist thomas piketty achieved worldwide prominence with his book capital in the twentyfirst century. They claimed that their plutonomy index was way outperforming the stock market. Plutonomy entered the language as late as the 1850s in the work of john malcolm forbes ludlow.
Internal citibank memo about the trending of the rich to get richer, the gap between rich and poor to increase and how they plan to replace our system of democracy with a plutocracy a term they coined and how they should capitalize on it. In september 2006 citigroup published a report which they files6674234citigroupoct162005 plutonomy reportpart1. Citibank plutonomy report pdf plutonomy is a term that citigroup analysts have used for economies where economic growth in three reports for superrich citigroup clients published in. Open your eyes october 26th, 2005 leaked citigroup memo.
Leaked citigroup memo shows economic domination agenda of the. Citigroup analysts have also used the word plutonomy to describe economies where economic growth is powered by and largely consumed by the wealthy few. Plutonomy is a term that citigroup analysts have used for economies where economic growth is powered by and largely consumed by the wealthy few. Our thesis is that the rich are the dominant drivers of demand in many economies around the world the us, uk, canada andaustralia.
Maybe im the last person whos hearing about the citigroup plutonomy memos, but. Googles ngram search suggests the plutonomy was coined in late 1800s. The other citigroup plutonomy memo mentioned in michael moores movie is. 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. The analysts use the term robberbaron economies and conclude. Two bombshell documents that citigroups lawyers try to suppress, describing in detail the rule of the first 1%. Citigroup plutonomy memos pdf united pdf comunication. The analysts use the term robberbaron economies and conclude that a potential social backlash is possible. Michael moores leaked citibank plutonomy memo unsettling. Jun 24, 2011 plutonomy stocks at a premium, but relative pricing power is key. 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. Citigroup attempts to disappear its plutonomy report. Aug 14, 2017 take a look at this leaked citibank memo. Internal citibank memo about the trending of the rich to get richer, the gap between rich and poor to increase and how they plan to replace our system of democracy with a.
Citigroup research is a division of citigroup global markets inc. The key challenge for corporates in this space is to maintain the mystique of prestige while trying to grow revenue and hit the massaffluent market. The leaked 2006 citigroup plutonomy memo part 1 my internet connection is nearly nonexistent so im posting this incomplete document as an info dump. As global strategists, this got us thinking about how to buy stocks based on this plutonomy thesis, and the subsequent thesis that it will gather strength and amass breadth. Citibank plutonomy report pdf plutonomy is a term that citigroup analysts have used for economies where economic growth in three reports for superrich.
Before your friend leaves the airport with your luggage, be sure to get your claim checks back. Citigroup plutonomy report pdf the reports are available for the time being. The other citigroup plutonomy memo mentioned in michael moores. Buying luxury, explaining global imbalances by ajay kapur, niall macleod and narendra singh.
Plutonomy the citigroup plan for the megarich at cost to. Aug 25, 2019 citibank memo plutonomy pdf are they real. Citigroup plutonomy october 2005 pdf the first memo is dated october 16, 2005 35 pages and is titled. In october 16, 2005, citigroup came out with a brochure for investors called plutonomy. But there is as tom hickey says a button to download the pdf file, right at the top line of the document. Back in october, we coined the term plutonomythe global investigator, plutonomy. Michael moores leaked citibank plutonomy memo i cannot copy the memo, only read it on the web. Concentration of wealth and spending in the hands of a few, probably has its limits. Download all posts by politicalgates about the faked pregnancy as pdf document here.
Nov 15, 20 a plutonomy is an economy powered by the wealthy and characterised by growing disparities between the top 1 % of society and the rest. Edward fullbrook has found and written about another citi plutonomy wquity. Screenshots first citigroup memo, click on images to read them. Leaked citibank memo plutonomy pdf plutonomy is a term that citigroup analysts have used for economies where economic growth is powered by and largely consumed by the wealthy few. May 11, 2010 heres a leaked memo that citibank sent to its top investors in 2005. Plutonomy refers to a society where the majority of. Its almost a year since we made up the word plutonomy. The march 2005 plutonomy memo, quoted above, has been taken. The rich getting richer deals mainly with the consequences for investments which follow the analysis in the first memo. Oct 22, 2019 citigroup equity strategy plutonomy pdf 1. In a report called the plutonomy symposium rising tides lifting yachts, ajay kapur, citigroups global strategist, says the balance sheets of. Equity multiples appear too low, the profit share of gdp is high and likely going higher, stocks look likely to beat housing, and we are bullish on equities. Heres a leaked memo that citibank sent to its top investors in 2005. Both reports were leaked and made available on the web.
Equity multiples appear too low, the profit share of gdp is high and likely going higher. Citigroup wrote memos in 2005 and 2006 addressed to investors, basically saying that the world is dividing up more and more into a small. A love story and saw the whole citibank plutonomy thing in black and white. Maybe im the last person whos hearing about the citigroup plutonomy memos, but theyre blowning me away.
Two bombshell documents that citigroups link to the second memo pdf called. Apr 28, 2019 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. Low speed, faulttolerant, mediumdependent interface on. Citigroup analysts have also used the word plutonomy to describe economies where economic. But there is as tom hickey says a button to download the pdf file, right at the top line. 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. Realitybase readers know that i think this is in large part due to. Jan 24, 2011 i cannot copy the memo, only read it on the web. John ruskin is quoted as having referred to plutonomy as a base or bastard science.
The term plutonomy first appeared in a memo sent by the global bank citigroup to its wealthiest clients. Jul 02, 2019 citigroup plutonomy report pdf the reports are available for the time being. Plutonomy definition of plutonomy by the free dictionary. Nov 21, 2011 the document in question is ajay kapurs plutonomy. This is a cause championed, generally, by leftwing politicians.
Plutonomy was used in the context of wealth in these early christian books. Citigroup plutonomy report part 1 oct 16, 2005 the world is dividing into two blocs the plutonomy and the rest. There are, in our opinion, two issues for equity investors to consider. A love story showing a secret memo put out by citigroup to its top investors telling them america has now become a plutonomy working for the very rich and the only. So citigroup did their duty and published two explosive memos, which should have become mainstream news, but eventually did not. Equity multiples appear too low, the profit share of gdp is high and likely going higher, stocks look likely to beat housing, and we are bullish on. Sep 25, 2019 plutonomy is a term that citigroup analysts have used for economies where economic growth is powered by and largely consumed by the wealthy few. 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 memos were.
Thats the question people usually ask when they hear for the first time of the citigroup plutonomy memos. Nsa leaks paranormal the citigroup plutonomy memos. Buying luxury, explaining global imbalances, october 14 2005. Global equity strategy september 29, 2006 the global investigator the plutonomy symposium rising tides lifting yachts time to recommit to plutonomy stocks binge on bling. Mar 11, 2019 iso 118983 pdf iso, road vehicles controller area network can part 3. I think theyre fast realizing, though, that tho they helped put obama in power, he aint doin nothin to. As we believe plutonomy explains away some of the conundrums we highlighted above, we are very relaxed about these issues. White collar criminologist william black dissects a 2005 citigroup memo intended for its wealthist clients that describes the us, uk, and canada as plutonomies. The first memo is dated october 16, 2005 35 pages and is titled.
Much of the recent increase in inequality in englishspeaking. Books by george hayduke author of get even i made photocopies of the wreckage, the people and the carnage in general and sent them to him as photo postcards, jimmy reports. The plutonomy stock basket outperformed msci ac world by 6. The plutonomy symposium rising tides lifting yachts plutonomy update. There are rich consumers, and there are the rest look up plutonomy in wiktionary, the free dictionary. Citigroup secret memo claims america has become a plutonomy. Citigroups second plutonomy report, titled revisiting plutonomy. Plutonomy only works if the members of a society have the impression that they can still participate. In a report called the plutonomy symposium rising tides lifting yachts, ajay kapur, citigroups 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. Aug 30, 2012 maybe im the last person whos hearing about the citigroup plutonomy memos, but theyre blowning me away.
Citigroups shocking plutonomy reports democratic underground. References to the term using ngram can be found in books as early as 1851, in a book written by john malcolm forbes ludlow titled christian socialism and its opponents. Moving on, its a rather long document with second and third companion memo s. Plutonomy only works if the members of a society have the impression that they can still participate, despite the harsh inequalities, that they can join it. Jul 04, 2019 citibank leaked memo plutonomy pdf in, citigroup came out with a brochure for investors called plutonomy. Citibank sent it to their wealthiest clients around the world. You wont believe your eyes when you see what they admit the u. Citigroup wrote memos in 2005 and 2006 addressed to investors, basically saying that the. May 03, 2019 citibank memo plutonomy pdf are they real. Economic growth that is powered and consumed by the wealthiest upper class of society. If the memo is intended to argue for an investment strategy, it makes sense. The analysis itself is a mixed bag, but the bullet point summary is a brilliant instance of. Although they havent figured it out yet, this is really what the occupy movement is protesting. Buying luxury, explaining global imbalances urging investors to put money into a plutonomy basket here are my favorite excerpts.
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