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

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. 0.85

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. 0.88

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 0.93

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.

Juno News - September 16, 2021

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

Episode Stats

Summary

Transcript