Citigroup Plutocracy memos [View all]

[passiveporcupine]

If this has already been posted, mods, please delete. I scanned the first page of GD and didn't see it.

politicalgates.blogspot.com has a story about the citigroup memos that are scattered over the internet, but citigroup attorneys keep "disappearing" them. This story is about those memos.

This is from the first memo titled:
"Plutonomy: Buying Luxury, Explaining Global Imbalances"

1) the world is dividing into two blocs - the plutonomies, where economic growth is powered by and largely consumed by the wealthy few, and the rest.

Plutonomies have occurred before in sixteenth century Spain, in seventeenth century Holland, the Gilded Age and the Roaring Twenties in the U.S. What are the common drivers of Plutonomy?

Disruptive technology-driven productivity gains, creative financial innovation, capitalist- friendly cooperative governments, an international dimension of immigrants and overseas conquests invigorating wealth creation, the rule of law, and patenting inventions. Often these wealth waves involve great complexity, exploited best by the rich and educated of the time.

2) We project that the plutonomies (the U.S., UK, and Canada) will likely see even more income inequality, disproportionately feeding off a further rise in the profit share in their economies, capitalist-friendly governments, more technology-driven productivity, and globalization.

The second memo is titled:
Revisiting Plutonomy; The Rich Getting Richer.
In this memo they discuss the irrelevance of the little people (non-rich).

I don't know why I've not heard of these memos before...they are all over the web, in spite of Cititgroup's attempt to "disappear" them.

link:http://politicalgates.blogspot.com/2011/12/citigroup-plutonomy-memos-two-bombshell.html

I am outraged, but not the least surprised.