John Bolton - June 23, 2026


Carney Crony Capitalism As People Struggle To Eat


Episode Stats


Length

8 minutes

Words per minute

164.38

Word count

1,471

Sentence count

64

Harmful content

Toxicity

18

sentences flagged

Hate speech

2

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

Mark Carney announces a $3.2B bailout for Vancouver condo developers. This is total crony capitalism at its worst, and I have a solution that might make you feel a little better about it. - John Rocha

Transcript

Transcript generated with Whisper (turbo).
Toxicity classifications generated with s-nlp/roberta_toxicity_classifier .
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
00:00:00.000 Hi, Akshay. Well, these numbers are bad for Canadians. Essentially, what CPI means is this is showing that inflation is going up, and that means that the cost of pretty much everything for Canadians is going up, so your money's not going as far.
00:00:11.220 Prime Minister Carney flies out to Vancouver, goes to see a soccer game, Canada wins, World Cup game, Canada wins, woo-hoo, good, happy. But the worry is, and it is total fuckery, he announces a bailout for BC condo developers.
00:00:29.380 Yeah, no fucking kidding. 0.96
00:00:33.860 Hi, it's John, and welcome to the channel, 529 AM, Tuesday, June 23rd. 0.90
00:00:38.540 I hope you're having a great Tuesday morning.
00:00:40.740 Here with the big blue mug of coffee, I've been sitting here for a couple hours thinking
00:00:43.880 how I'm going to cover this story.
00:00:45.700 It's one you've probably heard about.
00:00:47.760 I've been looking at different clips, videos, commentary on what's going on in Vancouver.
00:00:53.800 Mark Carney bailing out condo developers.
00:00:56.340 well, sorry, let me rephrase that. Canadian taxpayers bailing out condo developers in
00:01:03.120 Vancouver to the tune of, is it $3.2 billion? Something like that? I mean, what the hell is
00:01:09.060 $3.2 billion when you're running deficits of more than $60 billion? What does it matter to the
00:01:14.320 assholes who voted for Mark Carney and the Liberal Party that we're spending another $3.2 billion? 0.99
00:01:19.640 But what I'm going to do here is I'm going to try to make this as easy as possible. I think I have 0.98
00:01:23.660 a solution to this that might make you feel a little bit better. Now, you might think this
00:01:28.200 is me being rather simplistic, but I'm trying to make a point here. This is maddening. The question
00:01:34.200 is, after all the backlash about this, will Carney and the liberals back down on this stupid plan? 1.00
00:01:42.840 So here is Ron Cahodes. Let me just show you his ex-account. I think that's who's speaking here. 0.98
00:01:50.540 it's either Cahodes or Cahodes. He's on X. Here he is explaining what's going on here. Maybe
00:01:57.360 you haven't seen this. This gives you a little more idea of what might be happening out in
00:02:02.520 Vancouver. Gregor Robertson, who was dating a Chinese spy whose mother of the Chinese spy
00:02:13.480 ended up going to prison in China. So that was the scandal back then. He's now the federal housing
00:02:21.280 minister. And Carney is basically putting the losses to the Canadian taxpayers of these condos,
00:02:29.880 which are built and can't sell. And he's bailing out the CCP-backed developers, you know,
00:02:38.460 the condo king, Rennie and all his buddies. And Sam and I talked about this 2014, so it's a dozen
00:02:46.460 years ago. And they were bragging, on one hand, they were bragging how great the Vancouver housing
00:02:53.320 market was because it doubled in price. And now people got over their skis building, they're all
00:02:59.820 bankrupt. And instead of blowing these things out and letting the market clear at the fair price,
00:03:05.580 which is what sam and i've been arguing for a dozen years drag eb into the mix we'll get into
00:03:11.640 him later and and now they want to they want to bail out these developers on the backs of the
00:03:19.120 canadian taxpayers at prices which are artificial to create and support an artificial market and
00:03:28.960 And the only one who benefits from the artificial market are the CCP-backed developers in Vancouver,
00:03:38.560 because this makes no economic sense.
00:03:42.680 Are you surprised by any of this?
00:03:45.580 This is crony capitalism at its worst.
00:03:49.840 Or I guess we could probably turn that around and say, this is crony capitalism at its best,
00:03:55.620 that when it comes to crony capitalism, it doesn't get much better than this, folks.
00:04:00.260 And el bozos. By the way, for those of you who don't have gray hair like me and are a little
00:04:05.340 bit younger, bozo was a clown. El bozos. Do you still think Donald Trump is the problem with this 0.97
00:04:11.480 country? Huh? Now, how does Mark Carney explain this away? What's his reasoning for using
00:04:17.180 taxpayers' dollars to bail out rich people in Vancouver? Too many completed condos sitting
00:04:23.700 empty metro vancouver alone around 2500 finished units are standing vacant with no buyers with
00:04:31.460 higher interest rates weaker investment demand developers are stuck they don't want to sell at
00:04:37.060 a loss they can't afford to hold those empty units indefinitely we will convert vacant condos into
00:04:43.220 affordable housing uh condos that have been built that are unoccupied that are going to sit there
00:04:48.340 potentially for another couple of years we're going to go use the right financing mechanisms
00:04:54.020 convert those into affordable housing so people can move in and use that they don't want to sell
00:05:01.300 at a loss who gives a damn if these rich developers lose money on this deal it's their 0.98
00:05:08.000 own damn fault canadian taxpayers are going to lose 3.2 billion dollars on this bird brain deal 0.99
00:05:13.860 Mr. Carney. You know, I remember saying that Mark Carney should have the words who cares on 0.99
00:05:20.760 his tombstone. It should be his epitaph. Remember, he was asked about, have you had any discussions
00:05:26.320 about, you know, a trade deal with Donald Trump? This happened months ago, and he had a two-word
00:05:30.980 answer to that. Who cares? I really don't think Mark Carney cares at all about you or me.
00:05:37.600 I mean, what does it matter to him? He's going to sweep this out of the rug with the rest of
00:05:41.380 the catastrophe and corruption of the Liberal Party over the last 11 years. He's relying on
00:05:46.420 the fact that you don't understand what's going on here. Hell, I don't understand a lot what's
00:05:50.000 going on here. I'm no expert on real estate, but I do understand when he's spending $3.2 billion
00:05:55.140 of your money to bail out rich people. And he's trying to, you know, explain it a way that we're
00:06:01.680 going to build housing for people, low-income housing, in these million-dollar condos in
00:06:06.620 vancouver now somebody who does understand real estate is ron butler he has a salty way of
00:06:12.360 explaining things folks i'm going to leave all the f-bombs in on this one so with a combination of
00:06:18.440 i guess federal money and some provincial organizations they're going to buy 2200
00:06:24.200 2200 condos developers can't sell like they're stuck with them okay it's a bailout it's just a
00:06:32.060 bailout yeah that's what it really is I mean they said a million weasel words about it and
00:06:37.260 what the are they talking about but in the end you realize no they're buying extra condos they're
00:06:42.480 going to do some oh it's all going to be great we're going to rent them to the people who need
00:06:46.040 them low rents or social housing it's going to be wonderful you you bailed out developers
00:06:51.400 like developers when they were making money for 20 years buying Ferraris and having six houses
00:06:58.800 across the world can't we let them go broke if they up like what the like can't we do that
00:07:07.040 like should you have private profits and then the losses are socialized
00:07:16.960 like that is not free enterprise that is not capitalism okay it is not the idea is
00:07:23.840 you make a shit ton of money building these condos for years then you make mistakes you over 0.99
00:07:31.400 you overexert yourself you think you're fucking geniuses you think the sun shines out of your 1.00
00:07:36.600 asshole and you just keep on building them for more and more and more money pre-sell them and 1.00
00:07:41.060 then not pre-sell them or just general fuckery you made a mistake developers you made a mistake 0.99
00:07:47.820 you went too far too fast you should go into receivership and some have but obviously the 0.99
00:07:56.300 rest are going to get saved by fucking Mark Carney and Dave Eby which is fucking crazy like 0.99
00:08:02.640 the Canadian taxpayer should not not not be buying any extra fucking unsold condos from Vancouver 0.99
00:08:11.200 developers I think people should be marching in the streets over this but this is business as 0.98
00:08:15.800 usual for the Liberal Party of Canada. Got this graphic off of X this morning. Canada is back
00:08:21.060 with the highest food inflation rate among G7 countries. Here's my simplistic solution
00:08:26.140 to what's going on here. You see the people in this video right here. These people, a lot of
00:08:31.900 them are good people. Most of them are good people who can't afford to buy food in this country
00:08:35.860 anymore. Why don't we fly them out to Vancouver? Hell, they're paying for these condos in Vancouver
00:08:41.640 to bail out these developers,
00:08:43.880 why not put them up in a nice million-dollar condo
00:08:46.340 for a week and give them a bit of a break?
00:08:49.900 Thanks for watching.
00:08:50.920 If you like this video, give it a thumbs up,
00:08:52.800 subscribe to the channel, ring the bell for notifications.
00:08:55.380 I'll see you in the next one.