If the largest bank in the world calls the US a plutonomy, then is it not?

https://delong.typepad.com/plutonomy-1.pdf A PDF from Citigroup suggests that the US, UK and Canada are plutonomies, governments ruled by the rich corporations, exclusively, and that countries that are not are Scandinavia, Germany, France, pretty much the rest of the world. So, what does that mean exactly? This... show more https://delong.typepad.com/plutonomy-1.p...

A PDF from Citigroup suggests that the US, UK and Canada are plutonomies, governments ruled by the rich corporations, exclusively, and that countries that are not are Scandinavia, Germany, France, pretty much the rest of the world.

So, what does that mean exactly? This is from 2005, but it only seems to have continued, the national debt to the banks increasing, the economy may have got better compared to absolute depression, but does anyone doubt the corporations still run the world?
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