A Tory majority is good for the market
The TSX Composite is down 450 points since the close of business on May 2. I wonder if I need to create a gadget to track this for others to put on their websites.
Wednesday, May 11, 2011
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2 comments:
Finally someone's noticed this! I can't believe that no one else has connected the downturn in oil, natural gas, copper, gold, and silver worldwide due to the Harper majority that was won on May 2nd! Who knew the entire commodity market of the planet of earth was controlled by none other than little old Canada's federal election eh?
If you check my May 3 post, you'll note I agree with your point. My associated point was that if this happened under any other watch but a CPC majority, we'd be hearing exactly this - the NDP or uncertainty or whatever are terrible for the markets.
Having said that, this government promised balanced budgets, a year sooner than even their earlier budget did. Will they cry poverty because the markets did exactly what markets do?
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