2005 citigroup plutonomy pdf

The citigroup diversity operating council, formed in 2000, is comprised of senior diversity and human resources leaders from core. Citigroups shocking plutonomy reports ht michael moore. The other citigroup plutonomy memo mentioned in michael moores. 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. Rich kids of instagram the spoils of income inequality. Citigroup plutonomy memos pdf the world is dividing into two blocs the plutonomy and the rest. If the largest bank in the world calls the us a plutonomy. October 16, 2005 summary global 1,090 view global construction united nations environment 1,534 view global health measuring the global burden of disease 1,065 view 2005 owners manual manitou 827 view why did income growth vary across states during the great 2,487 view.

In one of the two memos made famous in michael moores film capitalism. Two bombshell documents that citigroup s link to the second memo pdf called. A pdf from citigroup suggests that the us, uk and canada are plutonomies, governments ruled by the rich corporations, exclusively, and that countries that are not are scandinavia, germany, france, pretty much the rest of the world. Leaked citigroup memo from 2005, about the new state of america. Back in 2005, ajay kapurthen cfa of citigroupproduced this industry note describing investor and consumer behavior in economies where a very small portion of the population controls a very large portion of national wealth.

A plutonomy is an economy powered by the wealthy and characterised by growing disparities between the top 1 % of society and the rest. Thats the question people usually ask when they hear for the first time of the citigroup plutonomy memos. 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. 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. Citigroup proprietary government bond trading scandal of 2004. Citigroup research is a division of citigroup global markets inc. Citigroup was criticized for disrupting the european bond market by rapidly selling 11 billion worth of bonds on august 2, 2004 on the mts group trading platform, driving down the price, and then buying it back at cheaper prices. Very interesting read, perhaps an insight into the corporate view on things in the us. Capitalist interest in preserving and profiting from the economic power of the rich was verbalized in a 2005 citigroup equity strategy report called plutonomy. Much of the recent increase in inequality in englishspeaking.

Realitybase readers know that i think this is in large part due to. If it disappears from there, hunt for the filename citigroupoct162005plutonomyreportpart1. Diversity councils citigroups diversity councils are fundamental to the successful implementation of our overall diversity strategy. In 2005, citigroup came out with a brochure for investors called plutonomy. The world is dividing into two blocs the plutonomy and the rest. In my surprisingly arduous attempt to find 2007 revenue figures for citigroup yesterday, i ran across something called the plutonomy report. A love story, ajay kapur, then citigroups chief global equities strategist, says this. Concentration of wealth and spending in the hands of a few, probably has its limits. Citigroup plutonomy report part 1 oct 16, 2005 the world is dividing into two blocs the plutonomy and the rest.

Every picture showed how the wealthiest enjoyed spending their money and the many adventures brought on by the good ol american dream. Maybe im the last person whos hearing about the citigroup plutonomy memos, but theyre blowning me away. Download all posts by politicalgates about the faked pregnancy as pdf document here. Buying luxury, explaining global imbalances urging investors to put money into a plutonomy basket here are my favorite excerpts. 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. I think in the nearly 2 years since written, the fissures i spoke about havecitigroup plutonomy report, part 1, oct 16, 2005.

The history of plutonomys conceptual development remains clouded in secrecy. Buying luxury, explaining global imbalances, october 14, 2005. A love story, publicized the citigroup plutonomy reports. Five years ago citigroup decided the time had come to bang the drum on plutonomy. Rich kids, plutonomy, and income inequality in the 21st.

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. Citigroup plutonomy memos pdf united pdf comunication. The first memo is dated october 16, 2005 35 pages and is titled. Michael moore highlights a confidential report that citigroup initially circulated only to its wealthiest customers. Leaked citigroup memo from 2005, about the new state of. Citigroup analysts have also used the word plutonomy to describe economies where economic growth is powered by and largely consumed by the wealthy few. Now the political fight has been born, and the next citigroup report to investors may begin with welcome to the plutonomy backlash. Citigroup plutonomy report pdf the reports are available for the time being. A love story 6674234citigroupoct162005plutonomyreportpart1. Two bombshell documents that citigroups lawyers try to suppress, describing in detail the rule of the first 1%. Nsa leaks paranormal the citigroup plutonomy memos.

In october 16, 2005, citigroup came out with a brochure for investors called plutonomy. But plutocracy is here, and a pumped up citigroup even boasted of coining a variation on the word plutonomy, which describes an economic system where the privileged few make sure the rich get richer and that government helps them do it. Back in october, we coined the term plutonomy the global investigator, plutonomy. Citigroup and, together with its subsidiaries, the company is a diversified global financial services holding company whose businesses provide a broad range of financial services to consume r and corporate customers, with more than 200 million.

So citigroup did their duty and published two explosive memos, which should have become mainstream news, but eventually did not. On july, 2012, a tumblr blog by the name of rich kids of instagram started sharing public instagram photos from the rich and sometimes famous. Sources 1 citigroup plutonomy report 1 200510 pdf the 2007 michael moore movie, capitalism. There are rich consumers, few innumber, but disproportionate in the gigantic slice of income and consumption they take. The political economy of bubbles realworld economics. Plutonomy is a term that citigroup analysts have used for economies where economic growth in three reports for superrich citigroup clients published in and, a team of citigroup analysts elaborated on their thesis that the share. 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. Forbes magazine for 2005 in our original plutonomy note back in october, we didnt have. In september 2006 citigroup published a report which they files6674234citigroupoct162005plutonomyreportpart1. Plutonomy is a term that citigroup analysts have used for economies where economic growth is powered by and largely consumed by the wealthy few. 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. Two bombshell documents that citigroups lawyers try to suppress, describing in detail the rule of the first 1% politicalgates truth11 on december 29, 2011 that there also exists an additional third, shorter citigroup memo, dated september 29, 2006, which is being mentioned here.

In 2005, citigroup sent a memo to its wealthiest clients, suggesting that the united states is rapidly turning into a plutonomy. Open your eyes october 26th, 2005 leaked citigroup memo. Citibank leaked memo plutonomy pdf in, citigroup came out with a brochure for investors called plutonomy. Welcome to the plutonomy machine, began a 2005 report by three citigroup analysts to their investor clients. The brochure says, the world is dividing into two blocs the plutonomy and the rest.

Its language reveals the wealth and position of its writers, who head their sections with phrases like welcome to. In three reports for superrich citigroup clients published in 2005 and 2006, a team of citigroup analysts elaborated on their thesis that the share of the very rich in national income of. Forbes magazine for 2005 in our original plutonomy note back in. Those reports, since leaked, plainly discuss the power of the plutonomy in america, and how it would only strengthen, as long as the the rest us the nonplutonics could be kept in the dark about the plutonomy existence, its role, and its overarching control in the american. Plutocracy citibank memo pdf the citigroup plutonomy memos.