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Trudeau's right-hand henchman, Finance Minister and Deputy Prime Minister Chrystia Freeland, along with the incompetent, comprehensively failed Minister of Housing Sean Frasier, have both resigned.
Sean Frasier, having read the polling, has decided to spend more time with his family. While Chrystia Freeland was expected to read the fiscal update for the federal government today, she decided to resign instead. There was speculation that spending wildly overshot the budget and the promised $40 billion guardrail on the deficit had been broken by a wide margin... I've heard speculation that the deficit would ring in at $55 to $60 billion... (It could be much higher than any published estimates.)
Chrystia Freeland's resignation is much more significant. As it should set off alarm bells in the currency markets and at the Bank of Canada — that the government hasn't been honest about its spending. The dollar may drop even lower, sparking fresh inflation and causing the Bank of Canada to raise interest rates. Canada has been in recession for some time; this resignation may make that reality undeniable.
I can only hope that this sparks a no-confidence vote and that we're granted the relief of an early election in February. But this is wishful thinking. Canada will probably be punished with a crippled, incompetent government for another 10 months.
The Canadian dollar has hit $0.70 ... testing lows not seen in years...
Discussion (67)
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A good time for tourists?
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Sure if you enjoy skiing or other winter activities... But book now for a January or February?
The coldest months of the year?
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It's like the veils that have hidden corrupt gov. practices are falling off and truth is emerging - in elections, and even dictators are going down..............the Canadians who have kept T in office only have themselves to blame, but you are right - it will affect the world's economy.
I found it very interesting since Trump's re-election how quickly Trudeau hustled hat in hand to Palm Beach and right away has been running a TV ad on how Ontario is our friend and very important trade partner.........this is different....
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Meanwhile, the German government has collapsed. Last week, the French government collapsed. The week before, Romania's parliamentary election was thrown out by the courts. Western nations are having an identity crisis.
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