Juno News - September 16, 2021


Pierre Poilievre： The Liberal Party has been taken over by radical leftists


Episode Stats

Length

14 minutes

Words per Minute

155.50523

Word Count

2,312

Sentence Count

131

Misogynist Sentences

1

Hate Speech Sentences

2


Summary


Transcript

00:00:00.200 Inflation rates in Canada hit an 18-year high.
00:00:03.640 Justin Trudeau says that he doesn't think about monetary policy
00:00:06.200 and the legacy media ignore the story.
00:00:08.560 I'm Candice Malcolm and this is The Candice Malcolm Show.
00:00:15.180 And to help us really make sense of these new inflation numbers,
00:00:19.040 I'm joined by a candidate, conservative candidate for Carleton,
00:00:22.360 the man who knows more about this issue probably than anyone else in the country,
00:00:26.020 or at least he's the most articulate at explaining it.
00:00:28.300 I'm joined by Pierre Paulyeva.
00:00:30.000 Thank you so much, Pierre, for joining us.
00:00:32.380 Good to be with you.
00:00:33.520 So here we are.
00:00:34.700 There's a couple of days left in the campaign.
00:00:36.560 We know that there was a big gaffe that Trudeau made at the beginning,
00:00:39.080 which a lot of Conservatives picked up on.
00:00:41.020 I don't really know that the media picked up on it much,
00:00:42.800 but he flat out told us that he doesn't really think about monetary policy.
00:00:46.860 You know, here we are a couple of weeks later,
00:00:48.840 and Canada has hit a 18-year high in terms of our inflation.
00:00:53.240 So, you know, what do you say to someone who's still standing by Justin Trudeau,
00:00:58.760 despite the fact that he clearly doesn't know what he's doing
00:01:01.380 when it comes to the monetary policy of his country?
00:01:05.120 Well, there are two reasons why a political leader's opinion on monetary policy
00:01:11.920 is important right now.
00:01:13.160 The first is that monetary policy is being used to fund our government.
00:01:17.280 For the first time since we've been born,
00:01:21.060 the central bank is printing cash to fund government deficits.
00:01:26.980 So, for example, last year, the money supply increased by about $354 billion,
00:01:33.620 and the deficit that Trudeau government estimated it had was $354 billion.
00:01:38.240 So, in other words, what's happening is the bank is buying government debt
00:01:43.920 in order to make interest rates on that debt artificially low.
00:01:49.200 But the cost of that, because there's no free lunch in economics,
00:01:53.900 is borne by consumers because all those dollars flood into the economy
00:01:58.900 and bid up the price of goods,
00:02:01.100 which is why we have a 17-year high in inflation.
00:02:04.260 So, the first reason why a political leader needs to care about monetary policy today
00:02:08.680 is because Trudeau's government is using monetary policy
00:02:12.520 to pay its bills with printed money.
00:02:15.440 The second reason is that between now and December 31st,
00:02:18.760 the next finance minister will sign a deal with the Bank of Canada
00:02:22.500 setting out its mandate.
00:02:24.280 Now, since the Mulroney era,
00:02:27.200 that mandate has been to target inflation at 2%, period.
00:02:31.540 You've got one job, Bank of Canada.
00:02:35.420 Keep inflation at around 2%.
00:02:38.260 That's it.
00:02:40.480 Now, there's talk about radically transforming the bank's mandate
00:02:44.200 so that it would be responsible for climate change and childcare
00:02:47.740 and other sociological issues
00:02:52.360 that are normally left up to elected governments
00:02:54.780 or, better yet, to people's private lives.
00:02:57.440 But central bankers are seen as potentially going from lending to spending
00:03:05.960 and becoming part of the fiscal arm of governments.
00:03:11.380 Trudeau has not stated where he stands on that.
00:03:14.080 If we do that in the form of modern monetary theory, for example,
00:03:19.020 paying for new governmental programs
00:03:20.920 with an endless supply of printed money,
00:03:24.640 then you will see runaway hyperinflation
00:03:28.220 that could massively destabilize our economy.
00:03:31.740 But we're not getting a clear picture
00:03:34.780 of whether Trudeau would like to do that.
00:03:36.500 Our view as conservatives is very simple.
00:03:38.800 Stick with the plan.
00:03:40.640 The bank has one objective.
00:03:42.120 Keep inflation low, nothing more.
00:03:44.340 And that's what we would sign as a new mandate
00:03:46.560 for the bank if we're elected.
00:03:48.660 Trudeau won't tell us.
00:03:49.880 He won't tell us if inflation should be allowed
00:03:52.020 to run rampant into the double digits
00:03:53.640 like it did back in his dad's era.
00:03:56.080 And that led to 20% interest rates
00:03:59.720 and the highest suicide rate in Canadian history in 1983
00:04:03.480 as so many people were losing their houses,
00:04:05.940 their jobs, and their livelihoods
00:04:07.580 that they could no longer survive.
00:04:09.380 So my point is here
00:04:11.660 that because they're funding government with printed money
00:04:14.740 and there's a new mandate
00:04:16.780 for the Bank of Canada coming up this year,
00:04:18.840 a political leader must have a clear answer
00:04:22.480 to what he would direct the Bank of Canada to do.
00:04:26.320 For us, it's low inflation, period.
00:04:29.120 Well, don't count on the CBC
00:04:31.280 to ask those kind of tough questions to Justin Trudeau.
00:04:34.380 They're much more interested in his perspective
00:04:36.680 on all the things he wants to talk about,
00:04:39.220 like climate change.
00:04:40.540 Pierre, it's interesting that it's a liberal government
00:04:43.320 that's taking us down this path
00:04:45.200 because, yes, it was Trudeau's father
00:04:46.980 who ramped up spending originally.
00:04:49.560 But back in the 90s,
00:04:50.880 when Canada went through a crisis
00:04:52.840 where we almost couldn't,
00:04:54.440 literally couldn't find people to buy our debt,
00:04:57.040 it was liberals.
00:04:58.020 It was Jean Chrétien and his finance minister,
00:05:00.620 Paul Martin,
00:05:01.420 who eventually were forced,
00:05:03.500 because of circumstance,
00:05:04.800 to get us out of this mess
00:05:06.120 by drastically cutting spending.
00:05:08.760 That wasn't that long ago.
00:05:09.740 How is it that those liberals are so different
00:05:12.720 than these liberals today?
00:05:16.620 Well, the Liberal Party's been taken over
00:05:19.020 by radical leftists
00:05:20.260 who have a state-driven ideology
00:05:24.120 whereby the government takes over
00:05:26.320 every aspect of our lives.
00:05:28.720 And this is not the party of Chrétien and Martin Manley.
00:05:32.180 It's just the party of Gerald Butts
00:05:34.780 and other hardcore radical socialist leftists
00:05:40.820 who believe that they have the ability
00:05:43.080 to run other people's lives,
00:05:45.200 including their economic lives.
00:05:47.080 And that's why we're seeing
00:05:48.020 a relentless expansion of the state.
00:05:50.380 That's pretty terrifying.
00:05:51.920 So let's break this down
00:05:53.140 about what it might mean
00:05:54.580 to everyday Canadians across the country.
00:05:57.100 So, you know,
00:05:57.820 you have these politicians in Ottawa
00:05:59.400 who are drastically increasing
00:06:01.560 the amount of money spent.
00:06:03.240 We have these bankers
00:06:04.100 who are drastically increasing
00:06:05.400 the money supply.
00:06:07.120 How does this impact,
00:06:09.000 you know, a suburban family,
00:06:11.260 say, living in suburban Toronto
00:06:13.840 or suburban Calgary?
00:06:15.880 Well, walk up and down the aisles
00:06:17.240 of the grocery store
00:06:18.180 and look at the prices.
00:06:19.860 When you have more dollars
00:06:21.380 chasing fewer goods,
00:06:22.940 you get higher prices.
00:06:24.640 And those price increases
00:06:25.920 fall back hardest
00:06:26.920 on the backs of the working class people.
00:06:29.400 Of course, it's not the rich
00:06:32.140 that have to worry
00:06:33.040 about these higher prices.
00:06:34.920 It is the working poor.
00:06:36.660 The rich are actually benefiting,
00:06:39.040 ironically, from the inflation
00:06:41.300 because their asset prices go up.
00:06:44.040 If you own a $10 million mansion
00:06:46.120 and your house price inflates by 30%,
00:06:49.980 you just made $3 million
00:06:51.120 for doing nothing.
00:06:53.060 If you own stocks, bonds, gold,
00:06:55.200 or other assets that inflate
00:06:59.260 with the price of goods,
00:07:02.600 well, then you're getting richer
00:07:03.780 by the day.
00:07:04.500 And that's why you don't see
00:07:05.620 any banking economists
00:07:07.160 complaining about this.
00:07:08.340 They're loving it.
00:07:09.340 They're just rolling around
00:07:10.760 in all of this cash.
00:07:12.280 But if you're a single mom
00:07:15.340 living on a minimum wage,
00:07:18.260 you're paying 7% more for meat,
00:07:20.280 32.5% more for gasoline,
00:07:23.300 7.2% more for vehicles,
00:07:25.400 5.3% more for appliances,
00:07:28.660 20% more for travel accommodation.
00:07:31.540 And your housing payment,
00:07:33.920 either for rent or mortgage,
00:07:35.520 is up almost 15%.
00:07:37.160 So basically what you see here
00:07:39.100 is a massive wealth transfer
00:07:40.980 from working class consumers
00:07:43.300 to extremely wealthy asset owners.
00:07:47.180 This is the irony, Candace.
00:07:49.720 Trudeau was asked,
00:07:50.460 you know, he was Mr. Middle Class
00:07:51.800 back in 2015.
00:07:52.920 He's forgotten that now.
00:07:55.220 They said, what's the middle class?
00:07:57.340 He said, well, the middle class
00:07:58.600 are people who live off their income,
00:08:00.460 not their assets.
00:08:02.020 Well, these are the people
00:08:02.740 who are getting screwed
00:08:03.520 by the inflation today.
00:08:04.980 You live off your income,
00:08:06.120 your income is dropping
00:08:07.640 relative to its purchasing power
00:08:10.180 because of Trudeau's inflation.
00:08:12.500 But if you live off your assets,
00:08:14.680 you're getting vastly wealthier
00:08:16.660 as those assets increase in price.
00:08:19.800 So this is a monster,
00:08:21.180 ironically, from these same socialists
00:08:22.800 who claim always to be so torn apart
00:08:25.240 by the gap between rich and poor,
00:08:27.860 have no problem
00:08:29.060 with an inflationary agenda
00:08:31.300 which concentrates more and more wealth
00:08:34.360 in the hands of the very small minority
00:08:36.600 who control the assets in the country
00:08:38.320 while robbing the working class of its wages.
00:08:40.820 Well, I would guess that Justin Trudeau
00:08:44.040 doesn't even realize
00:08:44.760 that that's what's happening
00:08:45.500 or that that's what he's doing
00:08:46.500 because he's so focused
00:08:47.980 on the government growth side.
00:08:49.420 Even just to give you an example,
00:08:51.560 when he did his CBC town hall
00:08:52.900 the other night,
00:08:53.660 he was asked about the economic recovery,
00:08:55.700 the post-COVID economic recovery.
00:08:57.340 What would he do?
00:08:58.440 And his answer is entirely stemmed
00:09:00.620 upon more government programs.
00:09:02.320 So we'll help you buy a house.
00:09:03.740 We'll help you put your kids in daycare.
00:09:05.960 We'll help you,
00:09:06.600 you know, every step along the way,
00:09:08.080 there's more government help.
00:09:09.360 And, you know, to me,
00:09:10.660 that's not an economic recovery.
00:09:12.040 That's more government welfare.
00:09:13.520 That's socialism.
00:09:14.580 So I'm wondering,
00:09:16.240 what is in that regard the distinction?
00:09:19.500 What will a conservative government do,
00:09:21.460 if elected,
00:09:22.880 to jumpstart the economy again,
00:09:24.820 to get it going,
00:09:25.860 to really push back this COVID recovery
00:09:28.740 and get the economy back going
00:09:31.120 so that there are more jobs
00:09:32.240 and more opportunities
00:09:32.940 to flip this around
00:09:35.120 from the disaster
00:09:36.360 that Trudeau has caused on our economy?
00:09:38.540 Well, we have to unleash
00:09:40.320 the free enterprise system,
00:09:42.220 which is the only way
00:09:43.520 you can possibly generate
00:09:45.060 any additional wealth
00:09:46.300 in this country.
00:09:47.760 And so that means
00:09:48.880 reforming our tax system
00:09:51.100 to reward rather than punish
00:09:52.600 work, savings, and investment.
00:09:55.540 Replace government checks
00:09:56.640 with paychecks
00:09:57.500 to fill the over half million
00:09:59.280 empty jobs
00:10:01.520 that require workers,
00:10:03.860 but they can't find them.
00:10:05.160 We're going to give
00:10:06.360 a temporary wage subsidy
00:10:08.140 for net new hires.
00:10:10.620 We're going to cancel
00:10:11.760 the government takeover
00:10:13.040 of child care
00:10:13.860 and replace it
00:10:14.560 with a direct tax credit
00:10:16.420 that puts four grand
00:10:17.420 in the pockets of parents,
00:10:18.500 but lets them decide
00:10:19.500 the child care option
00:10:20.460 of their choice.
00:10:21.520 We're going to push
00:10:22.280 for the world's fastest
00:10:23.220 building permits
00:10:24.060 so that things can get
00:10:25.060 constructed in this country.
00:10:27.100 We're going to give
00:10:28.980 a tax break
00:10:29.740 for made in Canada,
00:10:31.720 vaccines,
00:10:32.740 medications,
00:10:34.600 and other
00:10:35.300 medically related
00:10:38.260 innovations
00:10:40.160 so that we can actually
00:10:41.980 keep more of the medical
00:10:43.220 production here
00:10:44.060 in this country.
00:10:45.160 We're going to make it
00:10:46.400 fast to get a mine approved
00:10:47.860 so that instead of importing
00:10:49.340 electric car batteries
00:10:51.940 from China,
00:10:52.660 we can mine the lithium,
00:10:54.980 the cobalt,
00:10:55.980 the nickel
00:10:56.440 that is necessary
00:10:57.340 to do it here.
00:10:58.700 Ironically,
00:10:59.080 to do it much more
00:11:00.100 cleanly than
00:11:01.140 is being done
00:11:03.820 in China
00:11:04.340 and we're going
00:11:05.520 to reform
00:11:06.060 the tax
00:11:07.580 and regulatory rules
00:11:09.020 to empower
00:11:09.760 First Nations
00:11:10.560 to invite
00:11:11.860 business and commerce
00:11:13.300 and development
00:11:14.020 onto their lands
00:11:15.820 where they so choose
00:11:17.080 so that they can
00:11:17.960 provide their people
00:11:18.940 with paychecks.
00:11:19.640 In other words,
00:11:20.640 we're going to let
00:11:21.460 the government spending
00:11:22.160 get back to normal.
00:11:23.260 Can't phase out
00:11:24.740 the pandemic spending
00:11:26.380 as the pandemic
00:11:27.240 comes to an end.
00:11:28.680 So in other words,
00:11:29.500 get people back to work
00:11:31.140 get spending back
00:11:31.960 to normal
00:11:32.480 and get business
00:11:34.120 making stuff
00:11:34.980 here in Canada.
00:11:36.120 Make more,
00:11:37.440 cost less,
00:11:38.940 paychecks,
00:11:39.940 not debt.
00:11:40.760 That's great.
00:11:41.620 Well,
00:11:42.000 that sounds like
00:11:42.800 something that's
00:11:43.220 greatly needed
00:11:44.040 for the country.
00:11:45.340 Final question,
00:11:46.540 Pierre,
00:11:46.840 given how much money
00:11:47.900 Trudeau has spent
00:11:48.940 over the last 18 months,
00:11:50.200 given the precarious
00:11:52.060 inflation situation
00:11:53.540 and the finances
00:11:54.960 of the country,
00:11:56.040 these topics
00:11:56.560 have barely been
00:11:57.480 touched upon,
00:11:58.300 barely been touched upon.
00:11:59.260 We had a debate
00:12:00.280 the other night,
00:12:01.400 the English debate,
00:12:02.380 which I don't think
00:12:03.120 talked about economics
00:12:04.040 or COVID recovery
00:12:04.800 until the very last
00:12:05.840 half hour of the debate,
00:12:07.500 by which point
00:12:08.140 most Canadians
00:12:08.900 had tuned out.
00:12:10.600 We did a survey here
00:12:12.060 at True North,
00:12:12.780 a scientific poll,
00:12:13.980 that found that
00:12:14.760 if you were a liberal voter,
00:12:16.200 the issues you really care about
00:12:17.280 was climate change
00:12:18.180 and COVID.
00:12:19.540 If you were
00:12:20.360 a conservative voter,
00:12:21.440 the issues you really care about
00:12:22.900 are debt,
00:12:24.380 government debt,
00:12:25.160 government spending,
00:12:26.340 economic recovery.
00:12:27.620 So really,
00:12:28.700 really different issues
00:12:29.520 depending on,
00:12:30.460 you know,
00:12:30.760 which party
00:12:31.300 you're looking
00:12:31.760 to vote for.
00:12:33.180 And unfortunately,
00:12:34.180 these economic topics
00:12:35.400 have barely,
00:12:36.180 barely been touched upon.
00:12:38.220 So, you know,
00:12:39.240 I know you're running
00:12:40.580 as a candidate
00:12:41.120 and you don't get
00:12:42.180 to determine
00:12:42.680 the media landscape
00:12:43.720 in this country
00:12:44.740 as part of what
00:12:45.360 True North is
00:12:45.840 fighting back on,
00:12:46.840 but I can't help
00:12:47.780 but feel that so much
00:12:48.780 of the reason
00:12:49.580 that this happens
00:12:50.240 is because
00:12:51.040 the media landscape
00:12:53.140 is dominated
00:12:53.940 by companies
00:12:56.240 that take money
00:12:57.060 from the Trudeau government.
00:12:58.080 We know that Trudeau
00:12:58.900 drastically expanded
00:12:59.820 the CBC's mandate.
00:13:01.140 We know that they did
00:13:01.700 a newspaper bailout
00:13:02.680 where they gave
00:13:03.320 $600 million
00:13:04.260 to failing newspapers.
00:13:06.480 What would a conservative
00:13:07.760 government do
00:13:08.380 if elected
00:13:08.820 to change that?
00:13:11.900 Would a conservative
00:13:12.860 government continue
00:13:13.620 on that path
00:13:14.500 of media bailouts
00:13:15.880 and subsidies
00:13:16.380 or would you try
00:13:18.020 to, again,
00:13:19.680 remove the government
00:13:20.780 from these media companies
00:13:23.000 and allow them
00:13:23.980 to compete
00:13:24.820 on their own?
00:13:26.300 The latter.
00:13:27.700 Great.
00:13:28.900 All right.
00:13:29.520 Short and simple.
00:13:30.100 Well, thank you so much
00:13:30.860 for your time, Pierre.
00:13:31.680 We really appreciate
00:13:32.500 you being here
00:13:33.680 and best of luck
00:13:34.660 in your riding
00:13:35.760 for the rest of the campaign
00:13:36.860 on election night.
00:13:38.540 Thank you very much.
00:13:39.600 It is good to talk
00:13:40.460 to an independent
00:13:41.240 and unbiased media outlet
00:13:43.760 like yours
00:13:44.500 and it's good
00:13:45.760 that we do have
00:13:46.560 some options,
00:13:47.820 although the entire
00:13:48.800 press gallery
00:13:49.520 is pretty much controlled
00:13:50.900 by the government
00:13:52.080 and regurgitates
00:13:53.860 government talking points
00:13:55.200 for a living,
00:13:56.300 which is kind of
00:13:57.020 a sad and pathetic
00:13:58.680 way to exist,
00:14:00.020 but it is good
00:14:00.900 that we have people
00:14:02.160 like organizations
00:14:04.060 out there
00:14:05.160 who are instead
00:14:06.660 providing an independent
00:14:08.060 and unbiased viewpoint
00:14:10.260 to Canadians.
00:14:11.040 So thank you for that.
00:14:12.260 I appreciate it.
00:14:12.920 Thank you so much, Pierre.
00:14:13.740 All right.
00:14:14.000 We'll talk to you again soon.
00:14:15.180 Thank you so much.
00:14:15.780 Great to be with you.
00:14:16.580 Take care.
00:14:17.280 Thank you so much
00:14:17.900 for tuning in.
00:14:18.340 I'm Candice Malcolm
00:14:18.740 and this is
00:14:19.380 The Candice Malcolm Show.
00:14:22.080 Thank you.