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n August, I wrote that those stories you were reading about the US presidential election being close were fiction. Earlier this week, I restated that opinion. The Bank of Canada said in October that uncertainty about who would replace Barack Obama in the White House causing Canadian companies to hold off on new investments. Any executive doing so was either misguided or looking for excuses, I argued. Yes, the Republican candidate had pledged to blow up the North American Free Trade Agreement. But the chances of Donald Trump winning were so remote, there was no reason for an honest-to-goodness capitalist to adjust his or her plans, I said.
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