@Adamkblat He said nothing negative about Hughes imho. Translation to me sounds like Hughes is “mean” /has a high compete level. A player to be admired. Did not say he’s a quitter.
Things are going from bad to worse in BC under @Dave_Eby. Another Moodys downgrade over "deterioration in long-term fiscal management relative to our previous assessment."
Progressive voters may wish to look inward: if you spent the last decade or so voting in obviously incompetent, corrupt, spendthrift and basically performative government, what did you expect?
Some simple truths:
- the government can't spend its way to prosperity;
- borders matter;
- nationalism matters. There is no such thing as a post-nation state: such an entity is no longer a state but, rather, a mere economic zone devoid of any unity;
- sensible immigration is good, reckless immigration is bad;
- diversity is not our strength. It's really not anyone's strength;
- court decisions re aboriginal rights and title are an economic barrier to prosperity for Canadians generally and will remain so until there is a constitutional amendment;
- wokism and related policies are generally toxic to a society: politically, socially and economically. Indeed, they are intended to be such.
- prosperity comes from hard work, discipline, innovation. There really is no easy path to prosperity except through these virtues;
- debt is generally toxic. Unless there is a clear emergency, it is to be avoided and, once the emergency passes, needs to be removed. Modern Monetary Theory is a silly theory;
- racism is toxic to a society: all forms of racism. Unbelievable that this actually needs to be said in the 21st century;
- healthy democracies are founded on the principle of equal rights. Special rights and categories are toxic to a healthy democracy;
- a nation must have a functioning military whose primary purpose is lethality not DEI performative nonsense;
- corruption is toxic to a nation. Tolerating corrupt governments because they virtue signal in a pleasing manner is silly;
My typical playbook is to sell geopolitical spikes. This time feels different. Iran striking its regional neighbours was unexpected and massively escalatory, putting oil infrastructure at risk and making insurance on vessels through the Strait for now uneconomic. Without decisive regime change it’s reasonable to expect an enduring risk premium in the oil price, greater than what we've historically seen, and especially with the “twilight of shale” and rapid OPEC spare capacity exhaustion happening in real-time. For equities this is coinciding with a massive rotation out of tech/software into hard assets like energy (32% of the S&P500 now chasing <6%), with the energy sector still out-of-favour and under-owned. What to own? Long-life, high margin, low growth, high free cashflow assets in politically safe jurisdictions 🇨🇦🇨🇦🇨🇦.