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. The march 2005 plutonomy memo, quoted above, has been taken. Open your eyes october 26th, 2005 leaked citigroup memo. 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. Our thesis is that the rich are the dominant drivers of demand in many economies around the world the us, uk, canada andaustralia. 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. Two bombshell documents that citigroups lawyers try to suppress, describing in detail the rule of the first 1%. Oct 31, 2009 leaked citigroup memo shows economic domination agenda of the top 1% wealthiest. Oct 19, 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.
The other citigroup plutonomy memo mentioned in michael moores movie is. The analysts use the term robberbaron economies and conclude that a potential social backlash is possible. 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. Continental europe exitaly and stratevy are in the egalitarian bloc. Two bombshell documents that citigroups link to the second memo pdf called.
Plutonomy entered the language as late as the 1850s in the work of john malcolm forbes ludlow. In this book, he shows a strong longterm trend toward more concentrated income and wealth. 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. The world is dividing into two blocs the plutonomy and the rest. Plutonomy was used in the context of wealth in these early christian books. Back in october, we coined the term plutonomythe global investigator, plutonomy. Citibank leaked memo plutonomy pdf in, citigroup came out with a brochure for investors called plutonomy.
Citigroup attempts to disappear its plutonomy report. Citigroup plutonomy memos pdf united pdf comunication. If plutonomy explains away many conundrums that our. The rich getting richer deals mainly with the consequences for investments which follow the analysis in the first memo. A few months ago i wrote in this blog that the uk is turning into a plutonomy. The global investigator the plutonomy symposium rising tides lifting yachts time to recommit to plutonomy stocks binge on bling. A love story and saw the whole citibank plutonomy thing in black and white. 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. You wont believe your eyes when you see what they admit the u. Feb 12, 2018 in october 16, 2005, citigroup came out with a brochure for investors called plutonomy. Michael moores leaked citibank plutonomy memo i cannot copy the memo, only read it on the web.
Citigroup wrote memos in 2005 and 2006 addressed to investors, basically saying that the world is dividing up more and more into a small. Plutonomy refers to the rich, those who buy luxury goods and so on, and thats where the action is. Buying luxury, explaining global imbalances by ajay kapur, niall macleod and narendra singh. 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.
Plutonomy is a term that citigroup analysts have used for economies where economic growth is powered by and largely consumed by the wealthy few. Its almost a year since we made up the word plutonomy. In october 16, 2005, citigroup came out with a brochure for investors called plutonomy. Michael moores leaked citibank plutonomy memo unsettling. Finding pureplays on the plutonomy theme, however, is tricky. Low speed, faulttolerant, mediumdependent interface on.
Download all posts by politicalgates about the faked pregnancy as pdf document here. Maybe im the last person whos hearing about the citigroup plutonomy memos, but. Much of the recent increase in inequality in englishspeaking. May 11, 2010 heres a leaked memo that citibank sent to its top investors in 2005. Although they havent figured it out yet, this is really what the occupy movement is protesting.
Citibank plutonomy report pdf plutonomy is a term that citigroup analysts have used for economies where economic growth in three reports for superrich. Leaked citigroup memo shows economic domination agenda of the. 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. Firstly, if we are right, that plutonomy is to blame for many of the apparent conundrums that. Buying luxury, explaining global imbalances urging investors to put money into a plutonomy basket here are my favorite excerpts. There are, in our opinion, two issues for equity investors to consider.
Kapur estimates that in 2005, the richest 20 may have been. We think this income and wealth inequality plutonomy helps explain many of. If it disappears from there, hunt for the filename citigroupoct162005 plutonomy reportpart1. The analysts use the term robberbaron economies and conclude. 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.
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. Citigroup plutonomy memos pdf the world is dividing into two blocs the plutonomy and the rest. May 03, 2019 citibank memo plutonomy pdf are they real. But there is as tom hickey says a button to download the pdf file, right at the top line of the document. 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. Indeed, if the rich keep getting richer, as we suggest, savings rates might get even worse in the plutonomy countries.
Citigroup secret memo claims america has become a plutonomy. In researching this idea on a global level and looking for stock ideas we also. Equity multiples appear too low, the profit share of gdp is high and likely going higher. Nov 21, 2011 the document in question is ajay kapurs plutonomy. The first memo is dated october 16, 2005 35 pages and is titled. Plutonomy is the science of production and distribution of wealth.
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. Citigroup analysts have also used the word plutonomy to describe economies where economic growth is powered by and largely consumed by the wealthy few. 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. Maybe im the last person whos hearing about the citigroup plutonomy memos, but theyre blowning me away. 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. Citigroups shocking plutonomy reports ht michael moore. Citigroup research is a division of citigroup global markets. Both reports were leaked and made available on the web.
Heres a leaked memo that citibank sent to its top investors in 2005. Before your friend leaves the airport with your luggage, be sure to get your claim checks back. The term plutonomy first appeared in a memo sent by the global bank citigroup to its wealthiest clients. Aug 14, 2017 take a look at this leaked citibank memo. Citibank sent it to their wealthiest clients around the world. 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.
Citigroup analysts have also used the word plutonomy to describe economies where economic. 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. 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. I think theyre fast realizing, though, that tho they helped put obama in power, he aint doin nothin to. Nsa leaks paranormal the citigroup plutonomy memos. Googles ngram search suggests the plutonomy was coined in late 1800s. Citigroup research is a division of citigroup global markets inc. In a report called the plutonomy symposium rising tides lifting yachts, ajay kapur, citigroups global strategist, says the balance sheets of. The analysis itself is a mixed bag, but the bullet point summary is a brilliant instance of. Plutonomy the citigroup plan for the megarich at cost to. Jan 24, 2011 i cannot copy the memo, only read it on the web.
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. Edward fullbrook has found and written about another citi plutonomy wquity. Thats the question people usually ask when they hear for the first time of the citigroup plutonomy memos. Plutonomy refers to a society where the majority of. 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. 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. Citigroup plutonomy report pdf the reports are available for the time being.
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. Citigroup plutonomy october 2005 pdf the first memo is dated october 16, 2005 35 pages and is titled. Jul 02, 2019 citigroup plutonomy report pdf the reports are available for the time being. Jun 24, 2011 plutonomy stocks at a premium, but relative pricing power is key. 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. Leaked citigroup memo shows economic domination agenda of. Mar 11, 2019 iso 118983 pdf iso, road vehicles controller area network can part 3. 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. The leaked 2006 citigroup plutonomy memo part 1 my internet connection is nearly nonexistent so im posting this incomplete document as an info dump. Screenshots first citigroup memo, click on images to read them. Jul 04, 2019 citibank leaked memo plutonomy pdf in, citigroup came out with a brochure for investors called plutonomy. Plutonomy definition of plutonomy by the free dictionary. Aug 25, 2019 citibank memo plutonomy pdf are they real. There are rich consumers, and there are the rest look up plutonomy in wiktionary, the free dictionary. The plutonomy symposium rising tides lifting yachts plutonomy update. Citigroups second plutonomy report, titled revisiting plutonomy. Buying luxury, explaining global imbalances, october 14 2005. Concentration of wealth and spending in the hands of a few, probably has its limits.
Citigroup wrote memos in 2005 and 2006 addressed to investors, basically saying that the. The other citigroup plutonomy memo mentioned in michael moores. 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. Oct 22, 2019 citigroup equity strategy plutonomy pdf 1. 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. White collar criminologist william black dissects a 2005 citigroup memo intended for its wealthist clients that describes the us, uk, and canada as plutonomies. So citigroup did their duty and published two explosive memos, which should have become mainstream news, but eventually did not. Citigroups shocking plutonomy reports democratic underground. Economic growth that is powered and consumed by the wealthiest upper class of society. Citi offered jack lew a big bonus to secure a highlevel government position.
Realitybase readers know that i think this is in large part due to. John ruskin is quoted as having referred to plutonomy as a base or bastard science. They claimed that their plutonomy index was way outperforming the stock market. Aug 30, 2012 maybe im the last person whos hearing about the citigroup plutonomy memos, but theyre blowning me away.