In a first paper, HIPPARCOS astrometric and
kinematic data were used to calibrate both infrared K and
IRAS luminosities at the same time as kinematic parameters
of Long Period Variable stars (LPVs). Individual
estimated absolute magnitudes and a probabilistic assignation
to galactic populations were deduced from these
calibrations for each LPV of our sample. Here we propose
a scenario of simultaneous stellar and circumstellar evolution
according to the galactic populations. The transitory
states of S and Tc stars allow us to confirm the location of
the first dredge-up at Mbol = −3.5. There is also evidence
suggesting that a previous enrichment in s-elements from
a more evolved companion may accelerate the evolution
along the AGB. The possible evolution to OH LPVs is included
in this scenario, and any of these stars may have
a mass at the limit of the capability for a C enrichment
up to C/O > 1. A list of bright massive LPVs with peculiar
envelope and luminosity properties is proposed as
Hot Bottom Burning candidates. The He-shell flash star,
R Cen, is found to be exceptionally bright and could become,
before leaving the AGB, a C-rich LPV brighter than
the usual luminosity limit of carbon stars