Those headwinds include our high levels of debt, which will dampen consumer discretionary spending. He adds our housing market should see a 10% to 15% decline over the next few years.
And as the U.S. economy improves, materials, energy and gold will “see another year of pain in the market,” he says.
This will also put more pressure on the Canadian dollar. “As our economy softens, we’ll lose our safe-haven currency appeal,” Adatia says. He anticipates the loonie will hover around 90 cents in 2014……………..