Earlier this week Canadian voters elected Justin Trudeau as their prime minister and a clear liberal majority. My concern is not based on just this article, however the Canadian Bloomberg commentator in the interview is doing all he can to hold back his concern. Trudeau is a liberal, who has already said he is going to increase government expenditures and return to deficit spending, undoing Canada’s balanced budget. He says he will focus on the environment, global warming and many other things, none of which are good and all of which will damage the Canadian economy. Because of this change, I have concerns about the Canadian Dollar (CAD). Currently the Australian dollar and New Zealand dollar are basically on par with the CAD, and like the CAD, have a lower value than the the USD. Both of these are good alternatives to the CAD. I am still going to retain some CAD and for those of you who have hundreds, you should be fine, but those who have thousands may want to consider making some adjustments. This is not an emergency, nothing is imminent, it will take time for the new government and prime minister to institute their new agenda and programs. However, it’s important that you understand a shift is coming, and you want to stay ahead of that shift.
What Does Trudeau’s Win Mean for Canadian Economy? (10-20-15)