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Citigroup Plutonomy Reports update

from Edward Fullbrook 

“Plutonomy” is the word that Wall Street and City bankers use in private to designate the political economy in which they operate and in which today we all live.  They go to great trouble to keep us 99% ignorant of their perceptions of today’s economic and political realities, and which their “plutonomy” concept reveals.

In November 2010, I put up the post Citigroup attempts to disappear its Plutonomy Report #2 which was viewed over 40,000 times. It included links to Citigroup’s Plutonomy Reports 1 and 2, but Citigroup soon succeeded in having those links blocked.

In January 2011 I put up the post New links for secret Citigroup Plutonomy Reports.  But in June 2011, Citigroup succeeded in also closing down those links.  Here is an account of how they did it, including some excerpts from the reports.

But recently someone sent me this link:
http://combatblog.net/wp-content/uploads/2011/12/Citigroup-Plutonomy-Report-Part-2.pdf
It is not exactly a good read, but nonetheless very interesting.  It estimates that already in 2006 in the US the richest 5% possessed greater net worth than the bottom 95% combined.

I was also sent this:

After a little digging, I was able to find .jpeg images of all the pages of Parts 1 and 2 of the report. While they are not high-quality images, they are legible enough to download and read.

As of today (4/23/18),  the images can be found at this link:
https://our99angrypercent.wordpress.com/

I am told that there also exists Plutonomy Report #3, but I have yet to access it

  1. UT
    May 4, 2018 at 6:29 pm
  2. Rhonda Kovac
    May 5, 2018 at 9:20 pm

    Prof. Fullbrook:

    I did a Google search on text string: “citigroup plutonomy report part 3”. At the top of the list of search results I got was one entitled “citigroup-plutonomy-report-part-3.pdf – Google Drive”.

    The URL to which that result points is:

    https://docs.google.com/file/d/0B6W4EwogZyE2WmFrclhmamE2aTg/view

    Clicking on this link displays a 64 page apparent CitiGroup report dated 9/29/2006.

    Trying to save this web page from the browser “File” “Save” menu won’t work. (That way only a tiny portion of the file is saved — as .HTM). The entire file can be saved to disk as a PDF by clicking on the ‘Download’ icon at the top of the page. At the top right of the screen are 5 icons (4 white and 1 blue) horizontally oriented against a black background. The middle one is a picture of a down-arrow pointing to a horizontal line. That is the download icon. You can click on that and download the file.

    I don’t know if this is what you are looking for, but here it is.

    Hope this helps.

  3. David Harold Chester
    May 6, 2018 at 3:44 pm

    This is typical of the half-news that is sometimes labeled as fake but actually is simply incomplete. When discussing macroeconomics phenomena it is most necessary to see how the Big Picture is affected in its entirety. few economists are capable of doing this yet it is too easy without it to present a distorted picture.

  4. May 17, 2018 at 10:37 am

    The well-to-do, to employ a term from English history, have never been as a class the more intelligent or talented class in the American panorama. And the means of controlling their desires has never been a mystery to Americans. Madison and Hamilton in the Federalist Papers noted the problem and the solution. “So strong is this propensity of mankind to fall into mutual animosities, that where no substantial occasion presents itself, the most frivolous and fanciful distinctions have been sufficient to kindle their unfriendly passions and excite their most violent conflicts. But the most common and durable source of factions has been the various and unequal distribution of property. Those who hold and those who are without property have ever formed distinct interests in society. Those who are creditors, and those who are debtors, fall under a like discrimination. A landed interest, a manufacturing interest, a mercantile interest, a moneyed interest, with many lesser interests, grow up of necessity in civilized nations, and divide them into different classes, actuated by different sentiments and views. The regulation of these various and interfering interests forms the principal task of modern legislation, and involves the spirit of party and faction in the necessary and ordinary operations of the government.” I’d say current federal legislators have and are subverting and disloyal to this responsibility, and the understandings of the nation’s founders that lead to trusting legislators with this duty. Again, the remedy for this failure is known. Remove offending legislators from office.

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