American Plutonomy 2

Following up on a popular 2005 post American Plutonomy, I’ve found the CitiGroup reports “where a group of strategic analysts looked at segments of the population in the national indices of consumption, economic growth, wage costs, etc., and showed that in certain economies wealth is concentrated in a small percentage of the population. Japan and … Continue reading “American Plutonomy 2”

it’s all at the top

Warren Buffet’s essay in the NY Times: “Stop Coddling the Super-Rich” Thinmk about this statement via John Robb: “It should have been self evident that a ‘plutonomy’ wasn’t stable. Centralized demand is as toxic as centralized planning for an economy.”   When the rich steal from everyone, it’s Free Markets; When the rich steal from the … Continue reading “it’s all at the top”

Plutocracy At Risk

Opinion is increasingly pointing to much more than mere regulation. Many are calling for the dismantling of centuries of banking chicanery. In The Quiet Coup, Simon Johnson points out that the United States is no better than a banana republic: The crash has laid bare many unpleasant truths about the United States. If the IMF’s … Continue reading “Plutocracy At Risk”