We will fight to protect our country, writes Peter Watson.
I made a prediction…and I was wrong.
My thought was our increasing and dangerously high debt levels both federally and provincially would eventually be the cause of Canada’s demise. I was not sure when that would happen but did think it was inevitable.
That would force us to abruptly change how we manage our economy.
Without an emergency like a debt crisis the voters do not have an appetite for austerity and our politicians lack the courage to discuss our pending financial risk and propose corrective solutions.
And then almost suddenly we found ourselves in a trade war. The sad part is our enemy until recently was our closest ally, best friend and our neighbour to the south.
Canadians and our many friends south of the border are stuck with the current president. Sudden aggressive outbursts of anger and bad behaviour with the head of Ukraine in the White House while being covered live on national and international TV.
He changes his mind as often as in the midsentence and thinks that taxing his citizens with the burden of import tariffs is a good way for him to keep his election promise of bringing down the cost of living.
Unfortunately, that is what Canadians and Americans are stuck with for the next four years. We are stuck between a rock and a hard place.
We will rise to meet the challenge, and we already have.
Peter Watson, of Watson Investments MBA, CFP®, R.F.P., CIM®, FCSI offers a weekly financial planning column, Dollars & Sense. He can be contacted through www.watsoninvestments.com
