Oh Canada So, the budget.
Declining GDP, productivity down, anti-oil and gas policies continue (a major Canadian industry), increasing taxes and I notice that Canada’s ranking on the Climate Change Performance Index got worse dropping to “very low of worst performing countries” from 58th to 67th place. (I was told these new taxes were to fight climate change?). You do know that the new and additional taxes increase inflation (i.e. higher % rates) and meanwhile the Bank of Canada is trying to reduce inflation (i.e. lower % rates).
They doubled the debt and now spend billions each year (something like $55B?) on the interest payments. Does not look good.
There is an accelerating trend where Canadian long-term investors are moving a larger portion of their portfolios outside Canada. And, I am joining them.
So why am I still holding on to this $2 stock. I am hoping it will go to $4 so I can finally get out. Wish me luck.
All the best
Snowey