December Musings and Predictions for 2026

Dec. 19, 2025

Episode 72 of Geopolitics is a mix of current events and predictions for 2026. Frank discusses the U.S.'s recently released National Security Strategy that some pundits believe is akin to the original Monroe Doctrine published following the American Revolution that aimed to establish U.S. dominance over the Western Hemisphere. After praising outgoing Canadian Ambassador to the U.S. Kirsten Hillman on her retirement announcement, Frank provides advice to the next person in the foxhole for Canada in Washington. He discusses the continued aisle crossings in Ottawa pushing the Liberals near to a majority and reminds listeners that the practice is nothing new in Canada.

Before getting to his 2026 predictions, Frank weighs in again on the MTG vs Trump saga and finally whether Indiana's rebuttal of President Trump means the end of gerrymandering…for now. In terms of predictions, you won't want to miss his thoughts on the future of CUSMA, the Trans Mountain Pipeline, the War in Ukraine and the Mid-term elections in Washington.

Chapters:
0:43 The Monroe Doctrine 2.0
7:52 Advice for the Incoming Ambassador in Washington
12:18 Another MP Crosses the Aisle
17:12 MTG Questions Whether Trump is America First
23:09 The End of Gerrymandering…for Now
26:14 2026 Predictions

This podcast was recorded on December 15, 2025.

Full transcript to come.


Portrait of Frank McKenna

Deputy Chair, TD Securities

Portrait of Frank McKenna


Deputy Chair, TD Securities

Portrait of Frank McKenna


Deputy Chair, TD Securities

Photo of Peter Haynes

Managing Director and Head of Index and Market Structure Research, TD Securities

Photo of Peter Haynes


Managing Director and Head of Index and Market Structure Research, TD Securities

Photo of Peter Haynes


Managing Director and Head of Index and Market Structure Research, TD Securities

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