The election has destroyed any hopes of a robust TSX for the next four years. It will basically be flat. This will hurt all retirement plans, as few investors go for dividends, but prefer expensive useless mutual funds. Our portfolio will continue to outperform the TSX due to all the dividends we receive. Plus, we expect most of the shares on page 6 will continue to raise their payout over the next 4 years.

Trudeau wants to close the whole energy sector, but after this election he will not even try. The Bloc Quebecois Party will keep the Liberals in power for the next 4 years, so long as they continue to receive their yearly transfer payments, mostly coming from Alberta. This year around $13b. The leader has said he will never allow the Trans Mountain Pipeline, which means he will not object when the transfer payments are stopped (joking).

This election was a disgrace. Was I the only one to notice not one political party leader made a speech saying what would be good for all of Canada? Instead they all promised to bribe voters with our own money. Shame on them all.

On election day the Federal Court threw out the last appeal against the Trans Mountain Pipeline. Trudeau is now forced to allow the building it. If he attempts to cancels it, which is possible, Alberta will stop transfer payments. Bloc Quebecois is only interested in getting free money to waste on themselves.

We can expect Trudeau to try and delay the laying of the pipeline, but not stop it. Trudeau will desperately need all the energy industry’s tax dollars he can generate. We are heading into a multi year recession. He has stated that he intends to borrow as much as possible and of course spend it recklessly. This means future tax increases are coming. Trumps disastrous tariff war coupled with slowing world trade will also mean less tax revenue for Ottawa.

The latest stupid move was that in August Trudeau had the Federal Finance Department “grant a rare exemption on certain Canadian anti-dumping and countervailing duties”. This was solely design so that China can get the $1.6b Woodfibre LNG plant contract being built on our West Coast. This means Canadian steel companies will not be able to compete. This change was announced on October 19th. Canadian steel producers have already started to lay off workers. It is clear Trudeau is not working for Canadians.

On the plus side, the Canadian dollar did nothing on the news of the election results. This means money is prepared to stay in Canada until we find out if Trudeau has changed his negative attitude and wants foreign investment.

We cannot stress enough, especially after this terrible election, everyone re-do their retirement plans. This election guarantees rising taxes, low interest rates, probably rising unemployment and a divided country. Canada, with the best prospects in the world, has a great future, but it has now been delayed another four years. Fortunately, Canada is strong and will outlast our terrible destructive politicians.