The Globe and Mail reported, that: “The Bank of Canada is keeping its key interest rate unchanged in the face of a new, grimmer forecast that shows Canada’s economy is slowing down fast … [and] … As it did in December, the central bank left its rate at 1.75 per cent Wednesday as the country takes a hit from lower oil prices, weaker housing activity, the U.S.-China trade clash and the decelerating global economy.“
Now, Prime Minister Trudeau’s apologists, and there are a lot of them, will argue that none of these factors, not lower oil prices, not the Sino-American trade war nor the deteriorating global economy are Justin Trudeau’s fault … but they will be wrong to say that, or they will have to lie.
First: Justin Trudeau killed the Northern Gateway pipeline and sabotaged Energy East to pay off his greedy, crooked Quebec political allies and then he bungled the Trans Mountain expansion project, possibly out of sheer ineptitude but more likely because he is in thrall to the foreign funded (that Tides Foundation thing, again) anti-Canadian oil lobby. If he had not done those things then Canadian oil would not be trading at a discount.
Second, he bungled any hope we might have had for valuable, sector-by-sector trade deals with the Chinese when he went to China with his totally unacceptable, even insulting “progressive” trade proposals which the Chinese rejected out of hand. Anyone born with the brains the gods gave to green peppers would have known better. He bungled trade with China because he was virtue signalling to people back home. He and his team were campaigning, something at which they excel, not governing … which seems to be too hard for them to manage.
Third, even after Donald J Trump was elected and when people were already worrying about his impact on the global economy, Justin Trudeau kept running unnecessary and ever growing deficits … perhaps because he just is a bad manager; more likely because he’s inept; and almost certainly he and most of his cabinet are totally unsuited to the job of leading a G7 nation … but, not to worry, if he wins in 2019 we’ll probably be drummed be out of the G7. Maybe he didn’t shake the foundations of the global economy but he clearly put Canada in a weaker position.
One indication of how weak Justin Trudeau’s Canada is becoming is shown by a Globe and Mail report, in a second article, which says that “TransCanada Corp. is planning to drop “Canada” from its name to reflect its growing focus on the United States and Mexico, a move that is raising concerns in Alberta about its long-term commitment to Calgary as a head office … [and] … The pipeline company − which now earns more than half of its profits from its U.S. operations − said that it will rename itself TC Energy, given its expanded footprint after a US$13-billion acquisition of Columbia Pipeline Group Inc. in the United States and major investments in Mexico. TransCanada chief executive Russ Girling announced the proposed name change − which is subject to shareholder approval − while visiting Mexico City to meet with company employees there.” That’s what Justin Trudeau’s policies are doing to Canada: he is driving successful Canadian companies out of Canada because he has made it impossible for honest, hard working Canadians to earn their livings here. In essence, a company that was created, in the 1950s, by a Liberal government, to united Canada by bringing Western Canadian oil to Eastern Canada is abandoning the name of country that created it … Justin Trudeau has made it ‘bad’ be called Canadian. This is not nation building; Justin Trudeau is, it seems to me, hell bent on destroying Canada … it’s not his plan, he’s just unable to do anything productive.
The Globe and Mail says (first linked article) that “The Bank of Canada says investment in Canada’s oil and gas sector will fall 12 per cent this year. The industry now accounts for roughly 15 per cent of business investment in Canada, down from 30 per cent in 2014, reflecting the cancellation and postponement of numerous projects in the oil sands.” That is almost all Justin Trudeau’s doing and that needs to be reversed, starting in 2019 … and the first step away from Trudeau’s road to ruin will be taken by electing a new, Conservative government.