Citigroup’s Plutonomy Memo: “There are rich consumers, and there are the rest”
In October 16, 2005, Citigroup came out with a brochure for investors called “Plutonomy: Buying Luxury, Explaining Global Imbalances” urging investors to put money into a “Plutonomy Basket” Here are my favorite excerpts: “The World is dividing into two blocs – the Plutonomy and the rest. The U.S., UK, and Canada are the key Plutonomies – economies […]