The incineration of Glencairn Estate was a tragedy. The way it was first reported was not.
That initial call came from across the river. From America. New York State. Lewiston.
The 1832 white heritage Queenston gem may be lost. Damage is extensive and the fire marshal is poking around. But the fact folks opposite took quick action when they saw the flames lick says much about the relationship that’s existed for more than a century and a half.
OK, they attacked and pillaged us in 1814. But we’re so over it. At least, we thought, until January.
The current state of Canada-U.S. official relations sucks so much we’re having an entire election about it.
Donald Trump has imposed tariffs on our auto industry, steel and aluminum, lumber and other sectors — with more to come, he says. The border is hardened and unfriendly. The stock market has lost a fifth of its value. Economists tell us to expect a recession. Interest rates have stopped falling. The real estate market’s frozen.
Some people have panicked, turned their paper investment losses into real ones, fled into 3 per cent GICs and think the USA is doomed. It’s not, of course.
Trump will likely cause more damage to the American economy, ours and that of the world, but the guy can’t last. The midterm elections in 2026 may undo his grasp on power. The Supreme Court will have to rein him in. And Republicans are finding out at vicious town hall meetings how citizens feel about Elon Musk and deportations.
America is bigger than this. Stay invested. Maybe buy more of a good ETF that holds the S&P 500, if you are feeling frisky.
Next moves for the U.S. president will likely include a massive corporate tax cut, gutting of environment protections (he just allowed commercial fishing in a marine preserve and logging in a national park), deregulation, crypto-friendly rules and protectionism meant to suck investment capital into the country. The oligarchs supporting him will love that. So will stocks. Like I said, stay invested.
But, wait. None of this is happy news for the Canadian economy, now that our exports are being whacked. That recession is a thing, for sure. Expect layoffs to be dominating headlines here for a lot of 2025.
Coming out of adversity, as usual, is some good.
We’re shopping Canadian, going local and supporting neighbours. Interprovincial trade barriers are finally coming down, so we can have one economy in Canada instead of 13.
We’re spending a helluva lot less in the States — travel south plunged last month. And we have an election happening in which we’re all forced to think about the Trumpian threat and maybe realize it was not such a brilliant idea to sell most of our stuff to one single customer.
Advance polls were jammed last weekend. That probably means a high level of engagement as people decide who they think will be the most credible person to stand up to the orange guy with gravitas.
It’s one of those times when leaders, parties and national policy dictate how most people will cast their ballot, regardless of how qualified and charismatic the local candidates may be.
Canadians usually vote to punish politicians. But this one is different.
As you do so, think about that Queenston fire and that phone call. Americans have been our friends, allies, partners and bros-in-arms for longer than any of us have been alive.
The people across the river wish us no harm. Many are apoplectic over the juvenile mockery and trolling of Canada that Donald Trump engaged in.
This election is about one guy. And our guy. Choose wisely.
Garth Turner is a NOTL resident, journalist, author, wealth manager and former federal MP and minister. garth@garth.ca