Juno News - The Candice Malcolm Show： The economic toll of COVID-19 pandemic

00:00:00.240 Canada wildly underestimates the toll or potential toll of the coronavirus.

00:00:05.520 Journalists and politicians continue to mislead us about this disease,

00:00:08.960 plus some good news. I tested negative for coronavirus and we're going to go

00:00:12.320 through a lot of fake news. Candice Malcolm here and this is The Candice Malcolm Show.

00:00:20.480 Thank you so much for tuning in. As promised, I am doing a live episode here,

00:00:26.400 reporting live from quarantine, I guess. I am now in day, I think, 14 or 15 of being

00:00:33.200 self-isolated here at home. I think it's probably good practice regardless of what the government

00:00:38.800 tells you, regardless of how strict the measures are to impose sort of self-isolation or home

00:00:44.320 quarantine measures. At this point, we know that there are lots and lots of outbreaks. There's

00:00:48.800 lots and lots of new cases around where I live, for instance, here in Toronto, that even if the

00:00:54.720 government wasn't telling us to stay at home, I probably would and I would encourage you to do

00:00:58.800 the same just, you know, for concern for, you know, your own health and safety. But it's kind of

00:01:05.280 interesting to watch the, you know, politicians push more and more pressure for us to stay indoors

00:01:12.000 and for us to basically destroy our own economy, kill large sectors of the economy without any real

00:01:20.480 solid plan. So I'm going to get into all of that. I know Justin Trudeau tried a power grab. He tried

00:01:26.960 to sneak it in. They're debating all the emergency measures today. They're going to pass that 82

00:01:32.800 billion dollar measure and Trudeau sort of secretly tried to throw in a bunch of measures to give

00:01:38.720 basically his government unlimited power. Thankfully, the Conservative opposition kept him on his toes and

00:01:44.480 hopefully they'll remove all that. So that's all happening today. I am doing another episode of the

00:01:50.080 True North Update, which is a show where my colleague Andrew Lawton and I go through all of the news

00:01:54.720 related to coronavirus. We've been doing it every day for the past week and we're going to continue

00:01:59.840 to do it as long as the whole country is on self-lockdown. So I encourage you to watch that

00:02:04.480 show. It'll be up later on this afternoon, probably around five o'clock. So I'm going to talk about that

00:02:09.520 in that show. I'm not going to talk about this show today. I want to focus in on the economy, on what

00:02:14.080 we are actually doing, the measures that we're taking as a country to prevent a potentially

00:02:20.240 disastrous public health outbreak similar to what we've seen in China, what we've seen in Iran,

00:02:25.840 what we've seen in Italy. We're trying to prevent that, but we really don't have a plan. We really

00:02:29.600 have no idea what we're doing and what we know that we're doing is destroying our economy, destroying

00:02:36.880 the livelihood of millions of Canadians. We're going to see just an absolute disastrous outcome in terms

00:02:43.920 of bankruptcies, businesses going out of business, people losing their homes, families falling apart.

00:02:49.280 Okay, this is going to be worse than anything that we've ever seen. And at this point, we don't even

00:02:55.120 really have any idea on like a timeline. Like how long is this going to last? So the Conference Board of

00:03:02.480 Canada came out with a report. They released this report yesterday, the economic implications of social

00:03:09.920 distancing to August. So this is a scenario where Canadians are homebound essentially until August.

00:03:16.880 August. So we're not talking a couple weeks here. We're talking five months, people. Five months of

00:03:23.600 staying at home, nothing opened, everyone just kind of working from their bedrooms and hoping that we don't

00:03:30.720 spread this disease to the point where our hospital system collapses. So what would the projection be

00:03:39.200 if we were to continue these measures until August? Well, according to the Conference Board of Canada,

00:03:44.800 I mean, so the report isn't actually released. They said they're going to release a full report

00:03:48.400 on the 25th, which is tomorrow. But the sort of over, you know, the basic bullet point reading here,

00:03:56.240 which is all we have is bullet points, is that in this scenario, they say the economy sheds 330,000 jobs

00:04:04.480 over the second and third quarter, boosting unemployment to 7.7%. I'm sorry, they project

00:04:11.920 that the total job losses for the country are only going to be 330,000. But we're already way past that.

00:04:19.200 We know that just in one week, last week, after Justin Trudeau announced his emergency measures,

00:04:23.600 that more than 500,000 Canadians applied for EI in just one week. So they applied for the employment

00:04:31.120 insurance scheme that Trudeau introduced. So if 500,000 people are employed after just one week

00:04:37.360 of social measures, how is it projected that we're only going to lose 330,000 jobs? I think that this

00:04:44.560 report, I mean, I haven't read it because it hasn't been fully released yet. But from just, you know,

00:04:48.640 what they've released so far, it seems absolute madness to say that we would only lose 300,000 jobs in

00:04:55.600 the economy, that the unemployment rate would be 7%. Let's just remind everybody, just last month,

00:05:01.520 in Alberta, the unemployment rate was 7.2% in February 2020, before any of these social distancing

00:05:07.680 measures. So we're really supposed to believe that the unemployment rate is barely going to move

00:05:11.920 in this country when they shut down every restaurant, you know, every bar, every theater,

00:05:17.680 every sporting event, you know, they're shutting down the whole country. Anyone who works in the

00:05:22.640 hospitality industry, anyone who works in tourism, they've basically shut down international flights.

00:05:29.120 So lots and lots of people at airlines have been, have lost their jobs. I don't really understand.

00:05:34.720 There was a report from Goldman Sachs down in the United States that projected that the economy was

00:05:40.160 going to contract, the GDP was going to contract by 50% and that they expected a 30% unemployment rate

00:05:46.400 in the United States. Canada's economy is so incredibly tied to the US economy that it's really hard to

00:05:52.000 wrap your head around the idea that Canada would only have a seven percent unemployment rate,

00:05:57.120 but that the United States would have a 30%. I can't imagine a world where the US's unemployment

00:06:02.400 rate was 30% and Canada's is only seven. So if this is the basis of the reports that, of sort of the

00:06:09.840 stimulus spending and the government spending that Justin Trudeau is introducing, that the Liberal

00:06:13.360 government is introducing, is based on a report like this, you know, we are wildly out of touch with the

00:06:19.760 reality of what is going to happen when you purposefully shut down the entire economy.

00:06:25.200 And I think that the concern that a lot of people are really starting to have is,

00:06:29.200 okay, you know, Justin Trudeau is kind of laying down the law. He's saying it's time for everyone

00:06:33.920 to stay home. We really have to take social distancing seriously. Everybody work from home.

00:06:38.320 Nobody go out and about. No one, you know, they've closed parks. They've closed all the schools.

00:06:43.120 They've closed basically any public area. You know, they've banned any kind of gathering

00:06:49.040 with more than 50 people. And, you know, they're cracking down a lot less than that. Like people

00:06:53.760 who continue to have their stores open or their restaurants open are going to be targeted by

00:06:59.680 apparently government officials fining people and arresting people. A woman was arrested in Quebec

00:07:04.640 City for testing positive for this coronavirus and then being found walking around the town. So,

00:07:12.000 you know, the whole idea is what, you know, what is the future of our country going to look like if we

00:07:17.920 continue with these measures? And we're not really being told at this point how long it's going to

00:07:22.400 last and what the economic repercussions are going to be. So, we know, for instance, that when people

00:07:29.760 don't work, they can't pay their bills. They can't pay for their homes. People are going to potentially

00:07:34.320 leave their homes. You know, I know that there's been all kinds of measures taken so that, you know,

00:07:38.320 you can't evict people during this period. Banks are going to be giving a lot of forgiveness in terms of

00:07:43.200 mortgage payments, late mortgage payments. But the idea still is that we know, just again,

00:07:49.680 for instance, we know that unemployment rates are linked to suicide. So, this is from a CBC report.

00:07:55.120 It was in Alberta. It said that the analysis looked at suicide statistics and unemployment data between

00:08:00.240 2000 and 2017. During that time, Alberta's suicide rate was higher than the national average. It

00:08:05.920 revealed that for every one point increase in unemployment, there's a 3% or 2.8% increase

00:08:12.400 in suicide. And we know that unemployment causes about 45,000 suicides a year worldwide. So,

00:08:19.280 you can't just tell Canadians that they're going to lose their job potentially indefinitely. Sure,

00:08:24.480 we have boosted EI payments. The government is working. Well, if they pass this emergency spending

00:08:29.600 bill today, the government will be working to provide about $1,800 a month to Canadians who have been

00:08:34.960 laid off. Maybe that's enough to kind of cover the basics, maybe, if you're lucky. But still,

00:08:39.920 a lot of Canadians will just simply not be able to make ends meet. They won't be able to afford their

00:08:44.960 lifestyle. They won't be able to afford the life that they created pre, you know, this coronavirus

00:08:50.080 outbreak. And I don't think those circumstances are being properly considered right now. You know,

00:08:56.480 our number one concern is public health, as it should be, you know, protecting loss of life and

00:09:01.440 protecting an infection spread the way that we've seen in Italy. But the problem is that there's just

00:09:07.680 so much details missing. There's so much missing. And we just don't know, again, we don't know. So,

00:09:15.280 the measures that we're taking, are they permanent? Are they permanent? We're just going to all stay at

00:09:19.840 home for the foreseeable future? How is that going to, how is that going to be realistic? Are people really

00:09:26.160 just going to be complacent and sitting in their homes all summer, all spring and all summer? What are

00:09:30.080 you supposed to do with your kids? What are you supposed to do? You know, how are you supposed to

00:09:35.920 stay at home with kids and also work from home, right? Like, it just, it just doesn't really make a

00:09:41.680 lot of sense. It doesn't really add up. Now, I have a son, he's one years old, so he's not in any kind of

00:09:46.240 school, not in any kind of daycare. But even still, in my life, you know, he's an active little guy. I like to

00:09:52.960 take him out. I like to take him to classes. He has music class. He used to go swimming,

00:09:58.080 go to church group, all that kind of stuff. So he has sort of no social interactions right now. And,

00:10:04.480 you know, that's fine for now. But six months from now, I think we're all going to be a little stir

00:10:10.320 crazy. And I don't think that you can really just ask Canadians to indefinitely wait for something,

00:10:17.440 wait for a cure to be developed, wait for a vaccine to be developed, wait for different waves so that our

00:10:22.400 hospital systems don't get overwhelmed. You know, we have to come up with some kind of a timeline

00:10:27.040 here. We have to come up with a timeline. Otherwise, well, first of all, I don't even know how the

00:10:32.240 government's going to continue to afford these massive payouts when you have 500,000 Canadians

00:10:37.120 plus applying for EI for, you know, a $2,000 check every two months, every month, on top of all the

00:10:43.760 business bailouts, on top of all the bank bailouts, all the, you know, money going, increased child

00:10:49.520 care benefit. I don't quite understand the increased child benefit because so families with kids are

00:10:56.320 going to get more money, but you can't even use it for daycare. You can't use it for preschool or for,

00:11:03.200 you know, to sign kids up for more classes because everything's closed. So sure, you might be getting

00:11:08.080 a little bit of extra cash every month, but you can't really even spend it. I mean, that's sort of

00:11:13.120 more of a stimulus measure as opposed to an income adjustment measure, which is what the rest of the

00:11:17.520 stuff was. So really, I'm seeing sort of a lack of an overall plan for what's happening with this

00:11:25.040 coronavirus. Like, are we waiting for a vaccine? Is that what's going to happen? Because we could be

00:11:29.760 waiting a year if that's the case. I think that, you know, in order for Canadians to just say,

00:11:36.160 sure, you know, strip away a massive percentage of the economy, I think it's probably closer to the

00:11:41.840 30% figure that Goldman Sachs put it at. 30% of our economy is just going to disappear, and that's

00:11:47.520 everyone who works in hospitality, works in food and restaurants, hotels, you know, flights, and not to

00:11:53.600 mention a significant cutback in other industries. Just, you know, tourism industries, people who come

00:11:59.920 from other places to visit Canada in the summer, you know, think anyone who works at like an aquarium

00:12:05.360 or museum or anything like that, car rental agencies, it's just, it's all interconnected,

00:12:10.480 and it's all going to disappear. And we're supposed to believe that it's only going to result in a 7%

00:12:15.360 unemployment rate. I think that that is wildly problematic. And, you know, one of the things

00:12:21.120 that Justin Trudeau said in his press conference is that his government always lets, it always lets

00:12:28.640 science and experts guide us, science and experts. Now, I think that's a cop-out, because, you know,

00:12:35.280 you're a politician, you're the leader of the country, you're the prime minister, you have to be

00:12:40.000 there to make tough decisions. That's the job, it's a public policy rule. So, you can be advised by

00:12:45.440 scientists about, you know, best practices, but even within the scientific community, there's no,

00:12:50.240 necessarily, there's no agreement. I see reports on both sides, I see there was a report from Stanford

00:12:55.520 University of a professor saying, you know, we're kind of overreacting. Just look at the,

00:13:00.240 look at the infection rate and the death toll. It's not that high at this point. And yet, look

00:13:04.800 at the reaction that we've had, comparing it to other things. You know, other people looking at

00:13:10.000 the data saying, no, no, no, it's about to get a lot worse, we need to be even more paranoid. So,

00:13:13.840 there's not even sort of a universal opinion among scientists when it comes to this disease. Some

00:13:20.720 people think that the numbers are really starting to level off, even in Italy, they're not growing the

00:13:24.640 same way other people think, no, you know, we need to take more and more measures. So,

00:13:28.960 again, they're saying that they're letting the scientists and the expert guys, but I think that

00:13:32.560 there's a real problem in doing that. Because if you, if you just say that, you're kind of

00:13:37.760 alleviating yourself of any responsibility, right? You're saying, well, it's not me that's making this

00:13:42.080 decision. I'm just relying on the experts. Well, who are the experts, right? Who are the experts that

00:13:46.960 you're listening to? Which scientists? It's up to you to choose, you know, to comb through the data and

00:13:51.520 figure out which one is going to lead you. You know, just two weeks ago, the government was sort

00:13:56.560 of laughing at the idea of open borders and saying, no, that's not what we believe. Open borders don't

00:14:01.440 help. The virus has no borders, or sorry, open borders, closing our borders won't help. This virus

00:14:05.920 has no, knows no borders. This is a global effort and we can't close ourselves off at this point.

00:14:11.600 And then, you know, a couple days later, they did a complete about face and said, okay, now it's time

00:14:15.840 to close the border, you know, way after other people were, had closed their border, way after.

00:14:22.080 So just as an example, Donald Trump closed the United States to first two flights from China.

00:14:30.320 He did that way before anyone, anyone else was doing it. And then when he announced the travel ban

00:14:36.880 from Europe, this was March 13th, you know, the experts, the so-called experts condemned him.

00:14:43.120 So right here, viruses don't carry passports. Why travel bans won't work to stop the spread

00:14:49.280 of the coronavirus? So why is it when Trump issued a travel ban, the experts said, no, no, no,

00:14:57.600 that's not going to help. But then when Trudeau does it, it's, you know, a necessary problem.

00:15:02.720 It's a necessary solution. I don't understand how that is the case. And again, Canada's health minister,

00:15:09.280 minister has you. She said the more countries that have outbreaks, the less relevant borders become.

00:15:14.720 A virus knows no borders. And she said that closing borders can actually have a contradicting effect

00:15:21.120 because it will allow people to lie and that people will still be able to get in regardless of whether

00:15:25.120 the borders open or closed. So, you know, were they listening to the experts then or are they listening

00:15:31.280 to the experts now that they agree and they've closed the borders? Again, this is the problem that I have,

00:15:38.400 is that, you know, at the end of the day, you have to choose, you have to make a decision and to just

00:15:42.800 say, well, it's not my decision. I'm just relying on the experts. Like who are the experts? Who determines

00:15:49.600 who is an expert? There's so many people with differing views at this point. Are you going to listen

00:15:54.560 to economists like the folks over at Goldman Sachs saying, you know, we're looking at a major,

00:15:59.520 major collapse in the real estate sector. It could lead to a massive stock market crash even further.

00:16:04.560 Think about how many people are going to lose their livelihood, lose their pensions, lose their

00:16:08.000 savings, lose their house, lose their family. And then you have to weigh that with the health experts

00:16:14.480 that are saying, you know, the only way that we beat this coronavirus is that everybody stay inside

00:16:18.640 and nobody work. And it's like, okay, well, which one's going to look worse in the end? And you really

00:16:23.680 do have to balance and you have to make a decision. So you can't just say, you can't just say, I'm listening

00:16:28.960 to experts because there's contradictions within what the experts are calling for. And even in

00:16:34.000 experts in any given field don't really agree. And I think when you have the news media kind of

00:16:39.760 picking sides, you know, we've seen this throughout that if you are sort of more on the, like, if you,

00:16:47.040 if you like Justin Trudeau, if you're a journalist who likes Justin Trudeau, you look at his response to

00:16:51.360 this virus and you say, wow, you know, he is just a standup guy doing everything he can, makes me so

00:16:58.240 proud to be a Canadian. You know, I saw, I've seen a lot of this on Twitter, the sort of liberal

00:17:03.280 journalists and more, more pro-Trudeau journalists talking about how much they admire Justin Trudeau

00:17:09.920 and how, how proud they are of his response. Whereas then you have sort of more of the skeptical crowd

00:17:15.600 saying, well, wait a minute, what, you know, what is he doing? Does he have a plan?

00:17:18.800 You know, I'm seeing so many contradictions between what he was saying a month ago, what he's saying

00:17:24.640 now. And then you have the same thing in the United States, you know, you're trying to read through the

00:17:29.040 news about what's happening with the coronavirus and every news article you read is tainted with

00:17:34.000 this sort of anti-Trump derangement syndrome. You know, if I just want to find out what's happening,

00:17:39.600 you know, reading an article, a news report, supposed to be a news report in the Atlantic or the Washington

00:17:45.040 Post or the New York Times, you kind of have to have a filter and just ignore the like four paragraphs

00:17:50.240 of complete Trump derangement just to, just to get through it. So, you know, people keep saying,

00:17:55.680 now's not the time for partisanship. Now's not the time to play politics. Let's just focus at the task

00:18:00.800 at hand. But it's really impossible to do that because if people hate Trump, they're not going to

00:18:05.360 be able to write neutrally about what he's doing. And if people love Trudeau, likewise, they're not looking

00:18:10.160 neutrally at what is happening. Someone on Twitter is saying, please discuss the housing market. Well,

00:18:17.200 there was that report in Goldman Sachs. Let me see if I can pull it up because it was pretty scary,

00:18:24.480 honestly. And I feel like one of the things I'm sort of concerned about is I read a lot of news and

00:18:31.040 I'm a news junkie. I will read a lot of reports and I feel like there's a lot of information coming

00:18:35.920 out in the United States. You know, there's a lot of projections. There's a lot of critiques. There's really,

00:18:39.040 really thorough reports coming out, analyzing everything to do with this fallout. And then

00:18:46.000 I look for the equivalent in Canada and it just doesn't really exist. It's not, obviously we're

00:18:51.520 a smaller country and we don't have the same kind of like resources, social infrastructure of,

00:18:57.920 you know, think tanks and, you know, news reports and just a pure number of people working on public

00:19:05.200 policy. But, you know, to say I showed you the Conference Board of Canada report hasn't been

00:19:10.480 released yet. It's really just a one pager with bullet points. It's not really comprehensive.

00:19:16.880 Let's move on. I told you that I had some good personal news to share and I got tested over the

00:19:24.080 weekend for coronavirus. So I will explain what happened and how I got my test. I know a lot of

00:19:28.720 people have been complaining about the fact that the tests are very slow, that once you get tested

00:19:35.120 it might take up to a week. I know people in Ottawa were complaining and I know that there has been a

00:19:40.080 huge problem with a shortage of tests. I think I got kind of lucky in just the fact that I was able to

00:19:44.080 test because I had been trying to get tested for two weeks. So if you normally listen to my show and

00:19:48.560 you're watching right now, you can tell I'm congested. My voice sounds different. I have a cold, I guess.

00:19:54.560 I was in California. I was in the Bay Area where there's a massive outbreak right now. There's been

00:19:59.200 I think a thousand cases in the Bay Area. The Bay Area has been on complete lockdown. Like people

00:20:04.720 aren't even supposed to leave their house at all. And I was there two weeks ago. I got back two weeks

00:20:11.120 Saturday. And from the time I got back, I didn't really have any symptoms, but I was a little concerned

00:20:16.480 just because not only when I was in California, you know, again, pretty busy. I had friends there,

00:20:21.680 had my son. So I was taking them out to different classes. And then the night before I left, I went

00:20:26.400 to a large fundraising gala. I went to the Make a Wish Foundation event in San Francisco and there was

00:20:31.600 at least 500 people there. And so, you know, once I got home and sort of realizing that there was an

00:20:36.000 outbreak there, I got a little paranoid. I also started testing myself and I had a fever. I had a

00:20:40.960 low grade fever. So I decided to call the health officials in Toronto and also Ontario. I had a very hard

00:20:47.040 time getting through to them. And once I finally got through on the line after waiting on hold for

00:20:51.840 two hours, one night, they basically said, look, unless you're in Iran, Italy, or China, you can't

00:20:57.280 get tested for this virus. So just stay at home and don't worry about it. A couple days later, they

00:21:03.520 changed that and said, okay, you know, you can get tested if you're in the United States too, because

00:21:07.440 there's now big outbreaks in New York City and California. They told me to call 811 in order to get

00:21:13.120 tested. You call 811 and the line is busy over and over and over and over again. Everyone in

00:21:18.160 my household was trying to call 811 so that I could see if I could get tested. Meanwhile,

00:21:21.920 my fever was getting worse and it was kind of sustaining. When I say fever, it was like testing

00:21:28.640 like 101 in that range. I got as high as 102. Anyway, Saturday morning, we finally got through on the

00:21:37.200 line. We waited on hold for over four hours. When we finally spoke to an official, they transferred us to

00:21:42.800 a nurse, talked to the nurse about my symptoms. She advised that I do get tested for coronavirus. So

00:21:48.080 I went down to Toronto Western Hospital, which is the corner of Bathurst and Dundas, and they had

00:21:54.000 created a whole new kind of center. It was just brand new, open, it kind of been refurbished to be

00:22:00.240 this testing center. It had just opened. It just opened on Saturday. So I was one of the first people

00:22:05.360 to go in and get tested. It was really, really well done. My hat goes off to the frontline workers there.

00:22:10.880 I know that they're really putting themselves and their own health at risk in order to address this

00:22:15.040 issue. So I went in, everything was very sanitary. You know, they give you a mask and gloves,

00:22:20.720 you go in one by one. So you're not even interacting with anyone and they're behind a plexiglass.

00:22:25.040 So I gave them all of my, you know, my health card and all my information. They sent me to a private

00:22:29.760 room. I waited there probably about 20 minutes. The nurse came by, she did the swab, which they swab up your

00:22:35.920 nose and kind of did that. Then a doctor came by, you know, just regular kind of like a regular doctor

00:22:42.640 visit. I left and they emailed me the results of the test less than 24 hours later. Like by six

00:22:48.240 o'clock the next morning, I had the result. I was negative. So I'm very, very glad and very thankful

00:22:52.480 that I don't have it. And really, I think that the key to addressing this issue and solving it is that

00:22:58.560 everyone needs to get tested. The more people who get tested, the better, because then you have the peace

00:23:02.720 of mind and you know, if you're sick, you have to take quarantine really, really seriously.

00:23:07.120 And if you're not sick, then you can go out and you can continue to go to work and we can continue

00:23:11.680 to have an economy in this country. I think that that is a much better measure than what we're

00:23:17.440 doing now. It's basically what South Korea has been doing, which is testing everybody. Everybody gets 0.98

00:23:22.720 tested, focus the resource on making sure as many people get tested as possible. Because I think part

00:23:27.360 of the concern at this point is that we don't know how many people have it. We don't know how many people

00:23:32.320 potentially walking around, not really taking the quarantine measures very seriously, and they

00:23:36.720 have it. And then we know this thing spreads incredibly fast. We know how quickly it can spread

00:23:41.440 and how many people one person can infect. So if we had more knowledge, more people tested,

00:23:47.680 I think we'll be a lot better off. I wish that we were focusing on that as opposed to these crazy

00:23:52.880 deconion measures to shut down the entire economy. And I know we are going to be talking in depth

00:23:58.000 on my other show, The True North Update with Andrew Lawton, about the extent of the government

00:24:03.840 powers, how Justin Trudeau basically tried a power grab, got caught, and kind of had to walk away

00:24:10.160 with his tail between his legs and eliminate some of the things that he proposed. But let me just say

00:24:15.760 this, you know, we're sending out $1,800 in EI, basically welfare, to half a million Canadians or more.

00:24:25.920 Okay, that's a lot of money. It's going to add up incredibly quickly. So I think that the whole

00:24:32.800 $82 billion is really just a starting point. That might be like how much money we spend in March,

00:24:37.840 and then we'll have to spend that much money again in April, potentially, and May and June. And eventually,

00:24:42.880 we're going to have to pay that all back. Eventually, you know, unless we're going to just default, which

00:24:47.920 would be terrible for the economy, we're going to have to pay that back. And it is going to come

00:24:52.720 from you and me, my friends, from the taxpayer. So I wouldn't be surprised to see massive, massive

00:24:58.480 tax grabs and increases. It's kind of scary to imagine what might happen if you kind of look back to

00:25:04.560 the top tax levels back during the 1940s and 50s, when we were trying to pay back the war efforts,

00:25:10.800 you know, the whole idea of the income tax was supposed to be a temporary measure,

00:25:14.480 it was brought in as a temporary tax to help fund the First World War. It is not temporary at all,

00:25:19.760 it is still here. My colleague over at the Toronto Sun, Anthony Fury, has been looking a lot into this.

00:25:26.240 The idea that a lot of the measures that were introduced and that are being introduced right now

00:25:31.440 are things that the left has kind of always called for. They've always called for, you know,

00:25:35.840 increasing the ability of AI, or of EI, sorry, making it available faster, all these other kind

00:25:42.480 of measures. You know, we have to be vigilant, we have to be vigilant, these measures are temporary,

00:25:47.440 and that when this crisis is over, the government goes right back to the way it was, and that we

00:25:52.480 don't allow them to, you know, continue with some of the surveillance measures, or some of the power

00:25:56.960 measures, or some of the taxation measures, and spending measures, that could be really, really

00:26:01.760 potentially bad for our society. So I'm going to leave it at that. Like I said, my colleague and I,

00:26:07.520 Andrew Lawton, will be coming back to you a little later on this afternoon. We'll have a full update on

00:26:12.080 all of the announcements today, all of the latest with coronavirus and the response, and we'll talk a

00:26:16.800 lot in depth about the emergency spending and the House of Commons today, and what happens in Ottawa.

00:26:24.000 So thanks so much guys for tuning in. I'm Candace Malcolm, and this is The Candace Malcolm Show.

00:26:31.760 we'll see you next time.

Juno News - March 24, 2020

The Candice Malcolm Show： The economic toll of COVID-19 pandemic

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