"Plutocracy a disease... It must be eradicated," DonJon.
Chelsea Hotel (MP) -In a bold move the Plutocracy has officially claimed the world economy for themselves and declared it a "Plutonomy." In a 2005 investor memo, Citigroup claims the top 1% have successfully neutered the American middle class claiming 40% of financial net worth, more than the bottom 95% of households put together.
Detailing a world divided into two blocs the memo refers to "the Plutonomy and the rest.
"the Plutonomies... will likely see even more income inequality, disproportionately feeding off a further rise in the profit share in their economies."
The memo goes on to describe a "New Managerial Aristocracy," that has grown out of lucrative salary and bonus packages.
"in the early 20th century capital income was the big chunk for the top 0.1% of households, the resurgence in their fortunes since the mid-eighties was mainly from over sized salaries."
The memo describes a Plutocracy's that expects the world economy to continue to merge into the Plutonomy.
"They are also gaining strength in the emerging world... Society and governments need to be amenable to disproportionately allow/encourage the few to retain that fatter profit share."
The memo further describes the potential backlash of over-reaching and fears that the "invisible hand stops working."
"a threat comes from the potential social backlash... (if) the invisible hand stops working. (If) enough of the electorate believe they have a chance of becoming a Pluto-participant. Why kill it off, if you can join it? "
DonJonVonavich, Eccentric Publisher of this pamphlet, issued a statement. "Global Corporations have convinced The People they are best suited to organize and control the world economy. Plutocracy is the disease of a disengaged citizenship, it has metastasized and the Economy of the People is on a death watch." Calling for MoRevolution, he demanded, "It must be eradicated!"
Full Citigroup Memo: Oct 16, 2005 Plutonomy Report Part 1
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