Can investors win by following government money?

Jun 04 11:06 2018 Print This Article

 

A CN Rail locomotive moves rail cars near the Fairview Container Terminal in Halifax’s North End.

Consider this set piece: A Liberal government in Ottawa desperate to build a controversial pipeline originating in Alberta. The opposition Conservatives don’t like the proposal because it requires giving Americans financial support. The Liberals, under deadline pressure, force closure of debate and impose their will over parliament. Sound familiar?

It would to anyone who lived through The Great Pipeline Debate of 1956. And to anyone living in Canada under today’s Liberals. A dazzling example of Back to the Future for political wonks.

The TransCanada pipeline of 1956 was intended to carry natural gas eastward across Canada, mainly to Ontario and Quebec. The controversy and resulting fallout led to the defeat of Prime Minister Louis St. Laurent and his government in 1957, and ushered in PC rule under John Diefenbaker.

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Money Sense

MoneySense is a Canadian personal finance and lifestyle magazine published by Rogers Publishing Limited, a division of Rogers Communications.Written for Canadians who want to take financial control of their lives, MoneySense is Canada's best-selling investment and lifestyle magazine, helping readers make smart, informed decisions about how to get the most from their money. The magazine has received many awards, including multiple National Magazine Awards and CFA Society Toronto Awards.

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