Canada's new liberal prime minister: the disaster has already begun

Canadians have spoken – well, 39.5% of them – and installed a new liberal government headed by Justin Trudeau in office, and the disasters have already begun.  Fasten your seat belts, Canucks, it’s going to be a bumpy ride. Ezra Levant reports at The Rebel: The Canadian dollar dropped nearly two percentage points after Justin Trudeau's Liberals swept to a majority in the federal election. That's almost two cents in four days. As Levant notes, this has a profound effect on Canadians, whose trade with the US (the largest bilateral trade relationship in the world) accounts for a large percentage of their GDP: Everything we import just got more expensive, and we'll get paid less for everything we export. It's like every Canadian just got a pay cut. Trudeau’s announced plans spell disaster, which is why the foreign exchange markets behaved as they did. Levant summarizes that he has “promised to raise taxes and...(Read Full Post)

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