Trump is bad for markets but good for Canada, claims analyst
Posted March 16, 2016 7:28 am.
Last Updated March 16, 2016 8:21 am.
This article is more than 5 years old.
VANCOUVER (NEWS 1130) – Could your investments take a hit if Donald Trump ends up in the White House?
As the Republican front-runner solidifies his stranglehold on that party’s US presidential nomination, one business analyst says it is making markets nervous.
But after Trump picked up more wins in Florida, Illinois and North Carolina yesterday, Ian Winer with Wedbush Securities in Los Angeles adds that Canada might actually benefit from a Trump presidency.
Winer says Trump’s protectionist, “third-grade economics” would be trouble for Wall Street, predicting the S&P 500 would be “pounded” if the bombastic businessman ends up in the White House, losing 50 per cent of its value.
The silver lining? Winer believes Canada could see a bit of a boost.
“There’s going to be a significant amount of people who are going to be looking to leave the United States if that actually comes to fruition,” he tells NEWS 1130, advising Americans to invest in Canadian real estate.
“Canada could definitely be a place where people go because it will be more market-friendly, even with the new administration up there, and I believe that people will look to Canada as a close ally, a good democracy and an enjoyable place to live.”
Even Winer himself would be willing to give up the Southern California sunshine for Canada if Trump wins.
“Yes! To me he represents what I would consider some of the more un-American values. I served our country and I just can’t stomach the fact that we would be as divisive as we are and look to do things that play off people’s fears,” he says.
“There’s no question the economy here in the United States has largely been a problem for Americans, there is no wage growth, they have been unable to afford what they would like to afford, they are frustrated and they are fearful.”
And Winer says when people are afraid, they look for something or someone to blame — such as immigrants or Wall Street — instead of coming up with actual solutions.
“For me that represents the worst of what our country is. I would most likely opt not to be a part of that.”
