Conrad Black: US Stock Market Fluctuations a Warning to Canada Amid a Decade of Competitive Decline

Commentary The fluctuating U.S. stock market, and particularly the Dow Jones Industrial Average descending by over 1,000 points in one day on Aug. 5, have naturally raised some curiosity for what this means for Canadians, accustomed as we are to a relatively buoyant stock market. The most frequently expressed opinion in the United States as the reason for this worst stock market day since 2022 has been tied to the November U.S. presidential outcome. The election, now less than three months away, also takes place against a backdrop of increasing concern about rising debt levels both in the public sector and among individuals and families in the United States. If the U.S. economy was to follow anything like the trajectory of the past few years it would be bad news for Canada, for approximately half of our GDP is tied up with our southern neighbour. But in addition to that, Canada too has mismanaged its affairs badly....