Fight or flight?

What a month.

The current betting is the Bank of Canada will take a pass on a rate cut two weeks from tomorrow. That means the earliest date variable mortgage rates could dip again is March 12th. Yup, right smack in the middle of rutting season. Will the real estate market be on fire then with sub-4% loans, or frozen in the aftermath of Tariff Man’s assault?

Next week Trump siezes office. He has said nothing to water down threats of serious trade duties on goods from Canada, effective Monday. Maybe he’s bluffing and bullying. Maybe he’s real. Without doubt, he has little to lose. His team controls all branches of government, his weird cabinet appointees look set for approval, he has corporate America supine at his feet, Mr. Market is giving him a pass and he has crazy Elon’s billions as backup.

If tariffs materialize, every major economist agrees, Canada is pooched. Recession will be inevitable. Unemployment will increase. Interest rates may plunge to mitigate the damage. But they may soar to battle inflation if Ottawa retaliates. We are about to witness the blunt collision of economics and politics. All of it as destructive as it is unnecessary. Trump is Canada’s nightmare, and he hasn’t even yet taken the oath of office. Yikes.

But wait. Is there a strong saviour in the wings? We’ll have a new prime minister on March 9th – three days before the next bank rate decision, two weeks before a potential defeat of the government and possibly two months before the next election late in May. Or will the new PM declare that the national interest takes precedence, and delay the balloting until October?

And while we’re at it, are the Maple MAGAheads right in saying Mark Carney is a WEF globalist plant, whose rise to the PM’s office was always planned so the cabal in Davos can enslave the country, go total woke, and suck off our wealth and freedom?

Seriously, people believe that. And polls also show those Canadians who most support becoming Americans are PP supporters in Alberta – land of the premier who just did a major suck-up at Mar-a-Lago. With Kevin O’Leary at her side, no less. And the debunked Jordan Peterson, Tucker’s bud.

This is all so interesting. Ideology above country. Self-interest ahead of patriotism. Ego over policy. Billions ahead of democracy. What a collection of leaders and wannabes now in control.

Time for a gut check. Are we in trouble? Should we fight? Should we roll over, join the States and learn to drink their piddle beer?

Take the poll at bottom of this blog post. Lara Trump and I are pals at the moment (I was invited to the inauguration). Will let her know.

By the way, did you catch the fabled Mark Carney on the Daily Show this week? Here it is:

What does it mean that he chose this media platform instead of Fox News? Is he scared? And did he actually hint the carbon levy will be lifted if he wins? (Christy Clark made the same promise last weekend.) So what about PP’s big ‘Axe the Tax’? Does the Con leader have any other policy if the New Libs steal this one?

Hibernation is looking like the best option. This is all too stupid.

Poll results tomorrow. Oh, boy.

About the picture: “Thank you for your continued insight and call to sanity,” writes Kevin. “Your real estate advice has kept me on the right path. I have packed and moved more times than I care to count. Hop scotching my way across this beautiful country searching for opportunities. Able to pivot and turn on a dime should the right job prospect materialize. I count my blessings that I am not shackled by mortgages and property taxes.  A big part that you have played in voicing reason and validation that, for all those who rent are not lost.  This office dog is named Samson, he was celebrating a coworkers celebration into retirement. Party time!”

To be in touch or send a picture of your beast, email to ‘garth@garth.ca’.

Source: https://www.greaterfool.ca/2025/01/14/fight-or-flight/