It’s the largest outflow 15 years.
In yet another sign of how confidence in Canada is eroding, outside investors pulled money out of the country at the largest rate in 15 years.
Foreign investors offloaded $12.6 billion worth of Canadian stocks in June alone.
That’s the most since 2007, at a time when the global financial crisis was approaching.
Now, Canada and the world are emerging from one crisis, and into another.
But this time, rather than having the Harper government in power, we have the Trudeau government.
While Harper was able to adroitly manage the crisis, stabilize the economy, and even return to a balanced budget, Trudeau has imposed policies that make Canada both more vulnerable, and unable to rapidly adapt to the changing world.
With the world facing energy shortages, Canada could be poised to profit massively.
Money should be pouring into Canadian stocks.
Instead, money is leaving, because investors have rightly surmised that the Trudeau government is more interested in restricting growth and ‘redistributing’ a shrinking amount of wealth, rather than promoting real production.
Perhaps no nation on Earth is as blessed as Canada when it comes to natural resources, yet our per capita GDP is comparable many European countries that have far fewer advantages.
All it would take for Canada’s economy to boom would be for the government to get out of the way, and let Canadians unleash our talent and creativity.
But instead, the Liberal government is doing everything possible to crush nearly every sector, from tourism, to farming, to energy.
With such an anti-business government in charge, it’s no wonder investors are looking for opportunity elsewhere.
Photo – YouTube
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