Daily Archives: June 13, 2009

The rich are recovering so governments want to abandon stimulus plans & cut spending

Finance Minister Jim Flaherty wants to abandon the masses in their hour of need.

Finance Minister Jim Flaherty wants to abandon the masses in their hour of need.

By Henry McRandall
WRISEUP.COM

They’ve bailed out the banks and the automakers and the early stimulus spending has caused the stock markets to again soar, so the G8 finance ministers, led by Canada’s Jim Flaherty, are considering abandoning more stimulus spending and slashing government budgets.
Unemployment continues to soar in all G8 countries – and in Canada most unemployed don’t even qualify for Employment Insurance (EI) benefits – but the superrich have largely recovered and the political lackeys of the corporate agenda are ready to abandon the poor and the middle class to their own devices.
Many of the superrich, of course, have greatly increased their own wealth by gobbling up the shares the middle class were forced to sell at bargain-basement prices only to watch them soar in value.
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