The Plutonomy Reports: Download the Economic Analysis Citigroup Doesn’t Want You To See (links at bottom of post)

Pissed Off Woman

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1. Old News, But Not Enough People Know It

This is old news, but old news that most people don’t know about, because Citigroup has been very successful in suppressing it.  Citigroup wrote memos in 2005 and 2006 addressed to investors, basically saying that the world is dividing up more and more into a small group of rich people who drive the economy, surrounded by a large number of poor people whose economic interests can be safely ignored.

They posit a few reasons for this change:

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.

I seem to recall reading a similar analysis in Naomi Klein’s “The Shock Doctrine”, only…

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