TRUDEAU ECONOMY: After Venezuela, Canada’s Stock Market Is Worst Performing On Earth

Fall in energy stocks and declining investor confidence a key factor in the horrible performance of the TSX, which is only getting worse so far in 2018.

A combination of long-term energy industry struggles, and the regulatory strangulation being imposed by the Trudeau government are having a serious negative impact on Canada’s economy, and are a key reason the TSX is the worst performing stock market on earth (if we don’t count the dumpster fire that Venezuela calls an economy).

Charles Adler summed things up well:

Carbon tax, regulations, and anti-energy agenda taking a serious toll

In recent days and weeks, more and more reports have emerged of the rising toll of anti-energy industry policies, and this is causing serious damage to our economy and the TSX.

Former Canadian Ambassador to the US Frank McKenna pointed out that Canada has lost $117 BILLION in the past 7 years because of our inability to get more oil to market.

Additionally, Canada is expected to lose $10.7 BILLION this year alone.

Yet, instead of reducing regulations and supporting the energy industry, the Trudeau government keeps doing nothing to confront the foreign-funded anti-energy industry agenda that is trying to poison the minds of Canadians against our homegrown oil industry, and is making it worse by imposing a carbon tax and throwing more roadblocks in the way of energy projects.

Now, with the Trans Mountain Pipeline being blocked by the BC NDP, and Trudeau failing to get the project going again, we can only expect that the hit to the energy industry will get worse.

As noted by Bloomberg News, “I’m not crazy about Canada,” Paul Tepsich, founder and portfolio manager at hedge fund High Rock Capital Management Inc. in Toronto, said by phone. “We’ve got taxes going up and regulations going up.”

Notably, the TSX isn’t doing great outside the energy sector either, as the environment for investment is increasingly uncertain.

Our competitiveness – especially after the US passed big tax cuts – is eroding, as we move in the opposite direction with more bureaucracy and an ever-escalating carbon tax.

With lower growth expected in the coming years, household debt at record highs, and deficits as far as the eye can see, the weakness of the TSX is just another example of the failed Trudeau economy.

Spencer Fernando

Photo – YouTube

*****
SpencerFernando.com will never have a paywall, and I will never charge for content.
If you would like to voluntarily support my journalism, there are two ways you can contribute:
Monthly contribution through Patreon
 Donation through PayPal: