Global markets woke this morning to news of yet another conservative government in Canada. Having taken note of the incredible damaged caused to capitalism by neoliberal governments, markets across the globe began a broad based sell-off. The DOW was down nearly 8%, the S&P 500 9%, and the FTSE 100 7 %. Apparently traders viewed the Canadian election as kind of futures market for the likely outcomes of elections in the US and the UK.
Meanwhile in Toronto the TSX was down over 600 points on the news of a Conservative victory.
When Flaherty was asked what he thought of the markets reaction to his governments victory he is fantasized to have said: “everyone knows the guys that run those markets are bunch of F***ing raving communists.” When asked if that meant there would be no fiscal stimulus for the broader economy he is fantasized to have said: “look we already spent our wad on the Banks so the real economy can go F**k itself.” “ungrateful bastards”