Plutonomy?

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31 Mar 2011, 6:20 pm

http://www.scribd.com/doc/6674234/Citig ... ort-Part-1

SUMMARY
➤ The World is dividing into two blocs - the Plutonomy and the rest. The U.S.,
UK, and Canada are the key Plutonomies - economies powered by the wealthy.
Continental Europe (ex-Italy) and Japan are in the egalitarian bloc.

➤ Equity risk premium embedded in “global imbalances” are unwarranted. In
plutonomies the rich absorb a disproportionate chunk of the economy and have
a massive impact on reported aggregate numbers like savings rates, current
account deficits, consumption levels, etc. This imbalance in inequality
expresses itself in the standard scary “ global imbalances”. We worry less.

➤ There is no “average consumer” in a Plutonomy. Consensus analyses focusing
on the “average” consumer are flawed from the start. The Plutonomy Stock
Basket outperformed MSCI AC World by 6.8% per year since 1985. Does
even better if equities beat housing. Select names: Julius Baer, Bulgari,
Richemont, Kuoni, and Toll Brothers.

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Master_Pedant
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31 Mar 2011, 6:49 pm

To quote Chomsky, corporate reports sound as if they were written by "vulgar Marxists".

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AstroGeek
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31 Mar 2011, 9:03 pm

Could well be true. Although I would point out that Canada and the UK aren't quite as bad as the USA. [Sigh...] I wish I'd been born in Sweden--they seem to know how to do so much stuff right.

TechnicalPacifist
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01 Apr 2011, 2:58 am

AstroGeek wrote:

Could well be true. Although I would point out that Canada and the UK aren't quite as bad as the USA. [Sigh...] I wish I'd been born in Sweden--they seem to know how to do so much stuff right.

The f**k we do.

ruveyn
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01 Apr 2011, 8:53 am

AstroGeek wrote:

Could well be true. Although I would point out that Canada and the UK aren't quite as bad as the USA. [Sigh...] I wish I'd been born in Sweden--they seem to know how to do so much stuff right.

The main contribution of Sweden to world culture is SAAB and ABBA.

The Swedes are nice enough folks but what do they invent?

ruveyn

Vexcalibur
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01 Apr 2011, 9:46 am

foamed plastic?

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ruveyn
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01 Apr 2011, 11:29 am

Vexcalibur wrote:

foamed plastic?

And very good modern style furniture.

ruveyn

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01 Apr 2011, 2:11 pm

ruveyn wrote:

AstroGeek wrote:

Could well be true. Although I would point out that Canada and the UK aren't quite as bad as the USA. [Sigh...] I wish I'd been born in Sweden--they seem to know how to do so much stuff right.

The main contribution of Sweden to world culture is SAAB and ABBA.

The Swedes are nice enough folks but what do they invent?

ruveyn

Don't forget Volvo!

Orwell
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01 Apr 2011, 2:13 pm

Cyanide wrote:

ruveyn wrote:

AstroGeek wrote:

Could well be true. Although I would point out that Canada and the UK aren't quite as bad as the USA. [Sigh...] I wish I'd been born in Sweden--they seem to know how to do so much stuff right.

The main contribution of Sweden to world culture is SAAB and ABBA.

The Swedes are nice enough folks but what do they invent?

ruveyn

Don't forget Volvo!

But aside from SAAB, ABBA, Volvo, foamed plastic, and IKEA, what have the Swedes ever done for us?!

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Chevand
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01 Apr 2011, 2:35 pm

Orwell wrote:

Cyanide wrote:

ruveyn wrote:

AstroGeek wrote:

Could well be true. Although I would point out that Canada and the UK aren't quite as bad as the USA. [Sigh...] I wish I'd been born in Sweden--they seem to know how to do so much stuff right.

The main contribution of Sweden to world culture is SAAB and ABBA.

The Swedes are nice enough folks but what do they invent?

ruveyn

Don't forget Volvo!

But aside from SAAB, ABBA, Volvo, foamed plastic, and IKEA, what have the Swedes ever done for us?!

The Seventh Seal? The Knife? The invention of dynamite?

I'd say fully two-thirds of the furniture in my apartment is from IKEA. I guess I went a little overboard, but... I stepped into the showroom and couldn't resist. :lol:

AstroGeek
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01 Apr 2011, 2:54 pm

Are you saying that people should be judged on what they do for you? jk

More seriously, has Canada made any huge contributions to the world? (I'm Canadian so I'm aloud to say that.) I could list several off, but any country can do that. I think that a large factor there is geography and history. Sweden doesn't have a huge resource base like the USA and didn't develop the industrial revolution soon enough to compete when it came to colonizing. And as far as I know the industrial revolution came along before any countries got much beyond the feudal system, so plutonomy and lack thereof is irrelevant.

ruveyn
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01 Apr 2011, 4:44 pm

AstroGeek wrote:

A Canadian discovered how insulin could control diabetes.

ruveyn

AstroGeek
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01 Apr 2011, 5:47 pm

Yes. And developed radiation therapy. And was involved with inventing the lightbulb (Edison just bought the patent and further refined it). But I'm sure someone who is Swedish and patriotic could come up with a similar list of Swedish accomplishments.

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02 Apr 2011, 7:20 am

Perhaps it's noteworthy what Sweden didn't do that makes it stand out against the aggressive capitalist countries.

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