Thursday, October 21, 2021

Bolsonaro welfare plan shakes Brazil markets, sparks resignations

FASCISTS (EL CAPO)LOVE ONE TIME PSEUDO-WELFARE PLANS 
JUST ASK PERON
Issued on: 22/10/2021 - 
Brazilian President Jair Bolsonaro is proposing a controversial and expensive welfare program a year before elections he is expected to lose EVARISTO SA AFP

Brasília (AFP)

The program could cost the government an extra 30 billion reais ($5.3 billion dollars) at a time when inflation is already high and exceed the government spending ceiling established by law.

The government announced earlier this week that it was setting up a new social welfare program to replace the "Bolsa Familia" system created by the leftist administration of former president Luiz Inacio Lula da Silva.

The new program would start in November with a 20 percent increase in benefits paid to nearly 17 million Brazilians in need.

Coming just a year before a presidential election in which Bolsonaro is widely expected to be defeated by Lula da Silva, the move was seen by several analysts as a pre-election sweetener.


The measure rattled investors. The Sao Paulo stock market fell 2.75 percent, while the price of the US dollar rose to 5.65 reais, its highest level in six months.

Concerned by the plan, several economic officials quit their posts, including top treasury officials Bruno Funchal and Jeferson Bittencourt, authorities said.

Bolsonaro denied that his project, whose source of funding has not been specified, is against the law.


"There are around 16 million people registered with the 'Bolsa familia', and though the financial aid reaches an average of 192 reais, many people receive 40, 50, 60 reais. What we are saying is: 400 reais for all," he said Thursday.

Bolsonaro also offered to "help" 750,000 truckers with compensation for increases in the price of diesel.

The president made the announcements at a time when his popularity is at its lowest level since he took office in 2019, and amid high inflation and high unemployment.

© 2021 AFP

Juan Peron against Capitalism and Communism
Edited footage of speeches given by Juan Peron whilst forming bonds with the leaders of other Latin American countries in an attempt to form an alliance that excluded the United States of America.  The US had already set up its own South American anti-communist bloc, which only one country, other than itself, had joined.  It was extremely hostile to Peron influence and stature, since it would only accept a Pan American association with itself as the leader - of course

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