Markets do not love uncertainty. They do not gravitate toward it. In fact, they abhor it. At the beginning of this decade, the Western world watched on in horror as Argentina collapsed under a series what seemed to be Governments of the Week. When stability returned, so did much of the Argentine economy, though of course the previous instability still took its toll. Now, as we head toward the close of this decade, Canada’s economy may well become undone, not because of underlying economic factors (as was partially the case with Argentina), but because of a climate of political instability brought about by a small group of power hungry individuals who in the past week have shown just how little they care for the welfare of the nation.
- Tuesday, December 2, 2008