Interesting Citigroup document. "The US is a plutonomy"

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kylebisme

kylebisme

Diamond Member
Mar 25, 2000
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I didn't bother to read the whole thing, but the conclusion jives with my understanding of the situation. The "plutonomy" (it takes a perverted understanding of Plato's ideas to call it that) is just a byproduct of the larger problem though, which is the fact that our government is a pathocracy.

TruePaige said:
Scribd is a horrible site.
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Not enough pretty pictures for you?
 
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TruePaige

Diamond Member
Oct 22, 2006
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kylebisme said:
I didn't bother to read the whole thing, but the conclusion jives with my understanding of the situation. The plutonomy is just a byproduct of the larger problem though, which is the fact that our government is a pathocracy.


Not enough pretty pictures for you?
Click to expand...

Wow, did someone piss in your coffee?

Why would you just be an asshole for no reason?

Putting a PDF into a Flash container makes 0 sense.

Just link a damn PDF that I can read full screen in my monitor instead of viewing it in a tiny, less responsive flash container.
 
StageLeft

StageLeft

No Lifer
Sep 29, 2000
70,150
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Google says this is when the upper class contains an ever-growing percentage of the wealth. The states bear this out so I'd say yes it is.
 
S

soccerballtux

Lifer
Dec 30, 2004
12,553
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Skoorb said:
Google says this is when the upper class contains an ever-growing percentage of the wealth. The states bear this out so I'd say yes it is.
Click to expand...

This is not a problem--
If we allow the free market to work.
Which we are not.

As our percentage of wealth decreases, we lose buying power; companies fail, investments and wealth are lost and written off, and the businesses and wealth that survives can return to growth (because there is less of it in search of the markets in the economy that are worth exploring and selling to).

What we are doing is getting in the way of that-- we have to write off the bad debt. Bernanke and Greenspan were so eager to condemn Japan for not doing that, and...look what we're doing now. We're on our way to lose 2 decades, just like they did.
 
glenn1

glenn1

Lifer
Sep 6, 2000
25,383
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The rich got wealthy because they provided value in terms of ideas, products, or services that others in the economy was willing to pay for. If you have a hard-on for the wealthy and don't want them to accumulate more money, then stop using that which they create - stop using Google, seeing movies, sporting events, technology products.....
 
kylebisme

kylebisme

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Mar 25, 2000
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TruePaige said:
Putting a PDF into a Flash container makes 0 sense.
Click to expand...
It loads quicker, works on devices which don't support accrobat, and gives you a link to download the PDF if you prefer.

glenn1 said:
The rich got wealthy because they provided value in terms of ideas, products, or services that others in the economy was willing to pay for.
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Sure, like the 2.3 trillion dollars Rumsfeld announced the DoD couldn't account for back on September 10, 2001. I'm sure that all provided "value in terms of ideas, products, or services", because that's the beauty of the American way. :twisted:
 
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piasabird

Lifer
Feb 6, 2002
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Never studied the term Plutonics. This is an article written by an egghead and only meant to be read by eggheads. This is the typical stock trader's double-speak where you have to use terms that most people do not understand. However, this is just another article trying to demonize those individuals who have succeeded in the American Dream and managed to become somewhat wealthy.

Typically well-to-do Left-wing nut jobs try to use terms to make other people think they are stupid. Clearly this is an elitist article, written from a snooty point of view.

The government produces nothing but waste. Government is not the answer, it is the problem.
 
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heyheybooboo

Diamond Member
Jun 29, 2007
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AAjax said:
http://www.scribd.com/doc/6674234/Citigroup-Oct-16-2005-Plutonomy-Report-Part-1


Very interesting read, perhaps an insight into the corporate view on things in the US.

What do you think?
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I think the hypothesis put forth that governments need to encourage the further expansion of wealth accumulation in the top 1% (as the percentage of persons with zero or negative net worth grows disproportionately greater) is simply Fail .

This is not news and the data contained within the report is somewhat dated. The fact remains: The percentage of income and net worth accumulating at the top is far out-pacing the lucky few who 'pull themselves up by the bootstraps'.

This has been beat to death at ATP&N and the lame arguments continue in every thread, and amount to little more than deflection rather than repudiation.

On a slightly different tangent was the P&N thread of Elizabeth Warren's lecture comparing the finances of families from the past and now.

sandorski said:
Trickle Down
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<snicker> I've been waiting for mine since 1980 --- meanwhile, we've paid nearly $9 trillion in interest financing VooDoo Economics.


glenn1 said:
The rich got wealthy because they provided value in terms of ideas, products, or services that others in the economy was willing to pay for. If you have a hard-on for the wealthy and don't want them to accumulate more money, then stop using that which they create - stop using Google, seeing movies, sporting events, technology products.....
Click to expand...

<cough cough> Gee. That same tired canard. <cough cough>

I must have caught a big dose of the

'Affulenza' Trust Fund Baby Bug​


<cough cough>
 
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