Wednesday, 18 November 2020

Canadians saving stimulus money: Wealth redistributed from government to individuals!

 Canadians put aside record amounts of cash this year, thanks to government.  Centralized money was redistributed and not immediately wasted, an astonishing turn of events.   Comment from the National Post source:  "Government transfers were actually larger than the amount of money lost in the labour market"  and  "it’s not unthinkable that some of this money went to people that didn’t need it" and "High savings rates are in turn expected to put a damper on Canada’s economic recovery".  Businesses as well as individuals have set aside some extra cash. Set asides may be higher as cash accounts but not investment accounts were tallied.


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