Eleven years ago today Citigroup released an internal memo that observed what is described as a “plutonomy”. This is defined as an economy powered by the wealthy. It got leaked, and I first got wind of it when I saw the film “Capitalism: A Love Story”. I am not the biggest Michael Moore fan, but I was intrigued about the memo itself. Today I’m going to write my analysis of what is discussed in that memo. If you want to view it yourself, you can find it here.
So, what does this report say?