Mark Slapinski

00:00:00.000 Now, if you're a regular viewer to my channel, you should know that the last few weeks have

00:00:03.640 been really bad for Mark Carney. However, Carney naturally decided to make it even worse.

00:00:09.120 He sat down with a seasoned journalist from The Economist and she completely ripped him 0.92

00:00:13.200 apart. Let's take a look at that. Prime Minister Carney, welcome to The Insider.

00:00:17.480 Well, welcome to Ottawa, Sandy. Thank you. It's great to be here.

00:00:20.820 You've been what? Prime Minister for six months. Yes. What are six months? I mean,

00:00:24.720 it's been quite a six months. It's now what? Six months since Liberation Day 2. So let's start

00:00:30.620 with tariffs. I mean, Canada is a country, one of the countries most affected by Donald Trump's

00:00:35.080 tariffs. How much damage have they done? And is it going to get worse?

00:00:38.720 Now, before we go any further, let's put this all into context. The lady doing the interview, 0.89

00:00:42.280 her name is Zannie Minton Beddoes, and she's a seasoned journalist that's worked at The Economist

00:00:47.500 for over 30 years, almost as long as I've been alive. On top of that, The Economist,

00:00:52.620 it's a well-regarded magazine. My dad swears highly by it. On top of that, Beddoes went to

00:00:58.200 Harvard and Oxford. Smart lady, impressive resume. I also want to point out, not only is this woman a

00:01:04.120 seasoned pro, she works for a British magazine, which doesn't receive any money from the Canadian

00:01:09.000 government. I also want to point out, she alternates between softball questions and hardball 1.00

00:01:12.860 questions. So to start off, she's going to go soft. Now let's watch her rip Carney to shreds. 1.00

00:01:18.180 They have had an impact without question on the Canadian economy. You saw it in the second

00:01:22.540 quarter, negative quarter in the second quarter, renounced. Economy started to grow a bit again.

00:01:28.460 So there was the initial adjustment. The bigger impact right now is the uncertainty. Where is the

00:01:34.860 relationship going to go? Canada, the United States, in terms of our tariff regime,

00:01:39.980 US, rest of the world. It's still in flux. And that's causing businesses in Canada and Europe, UK,

00:01:46.140 around the world, to hold back on some of the investment. We're working to get greater certainty with

00:01:50.860 the US. And what's he like to deal with? Now, we're still in the softball part of the interview.

00:01:54.940 However, I want you to watch this next part carefully. Mark Carney completely gushes over

00:01:59.580 his political adversary, quote unquote, Donald Trump. Well, you've interviewed him. I know that.

00:02:05.260 But you've met him much more than I have. Look, he's very sharp. He's very curious about people's

00:02:14.620 opinions on a wide range of issues. And so he will solicit my views, other people's views on topics of

00:02:23.340 the day, particularly international. He's decisive. And he has an ability to change the dynamic

00:02:33.740 very quickly on whether it's with respect to Ukraine, peace in the Middle East, global trade,

00:02:40.620 and beyond. So you can understand. It's absolutely clear why he's leader of the United States. I mean,

00:02:47.260 you've put together all those qualities. Now, to be fair to Carney, he's not technically wrong.

00:02:51.820 However, Mark Carney based his whole election campaign on Donald Trump being this boogeyman, 0.70

00:02:57.020 this scary man. And now he's turning around and saying the exact opposite. I believe Zannie knows this,

00:03:03.260 and she's secretly trying to pry it out of him so the whole world can see what a duplicitous, 1.00

00:03:08.300 evil, self-serving fool Carney really is. 0.99

00:03:11.740 The US is effectively monetizing its military hegemony and its economic cloud. I mean, it's 1.00

00:03:17.980 essentially, and I can say this and you probably can't, but it's essentially sort of mafioso economic

00:03:22.220 policy. Well, certainly I was, you had me at monetizing hegemony. You lost me as you went on.

00:03:28.300 I think he has a view. He's not alone in his view. I don't share the view. But

00:03:32.940 he has a view that you measure economic success in trade, just like you measure success in business

00:03:42.780 of whether or not you have positive cash flow. And so for him, running a trade surplus is a sign of

00:03:49.340 success. And if you're running a deficit, you, by definition, are either being ripped off or

00:03:58.220 you're not as successful as you need to be. We take a different view, you know, comparative advantage.

00:04:04.220 We don't have time, but since this is The Economist, I can say comparative advantage.

00:04:07.740 I can also say, and this is, you know, higher level explainer at the back.

00:04:13.260 If you have the reserve currency, the quid pro quo of having the reserve currency is you run a current

00:04:18.540 account deficit because you got a supply. Have you tried that logic?

00:04:22.140 I have not. There's not enough hours in the day to go there.

00:04:25.980 All right. Now, here's the part that I told you about. Xanny's going to take off the gloves and 1.00

00:04:29.900 give Carney a nice slap. Before we get into this, I've noticed that my videos aren't getting as much

00:04:35.100 traction as they used to. If you're enjoying this video, give it a like, subscribe, and let me know

00:04:40.220 if you saw this part in the comments section. All right. Let's get back to the action.

00:04:44.700 President Trump's favorite analogy, you know, they have the cards, right? I mean,

00:04:48.700 you know, they, they have not, not only do they have the economy, they also have the security side.

00:04:53.500 I mean, you can't even defend the Arctic, right? By yourself.

00:04:55.660 Well, we can defend more. We're defending more of the Arctic now. 365 days, land, air, sea,

00:05:01.340 over the horizon radar in the Arctic. We're building out our sovereignty in the Arctic.

00:05:05.740 But radar means you can see the difference. You can't actually, don't you need missiles to

00:05:09.340 shoot things down? There are certain areas, there are certain areas where we will want to be

00:05:13.820 integrated and continue to fully cooperate with the United States. I would suggest, some others have

00:05:18.780 a different view, but hypersonic missile defense is one of those areas where we're going to want to

00:05:23.820 do, and we have those discussions with them. But the analogy, to go back to your analogy,

00:05:28.140 who has all the cards? There are other games. There's not just one game. That's the point.

00:05:32.700 There are other games. And, and yes, we're going to spend more time to extend the analogy

00:05:38.460 in the game with the United States, but we're going to play other games.

00:05:41.420 That was probably the biggest non-answer I've ever seen to a question.

00:05:44.780 But I'm glad Zannie is doing this. Mark Carney basically admitted that the whole elbows up thing 0.72

00:05:49.740 was lunacy and that Canada doesn't hold any cards when it comes to the United States. 0.90

00:05:54.860 But of course, Carney won't say it as directly as I just did.

00:05:58.220 It could be a rules-based trade system excluding the US.

00:06:02.380 Yes. Yeah. I mean, the US, there is, there is one, it's called the WTO actually. I think we're

00:06:07.900 going to end up with a degree of variable geometry in trade, as well as elsewhere, where you have

00:06:13.980 tighter integration.

00:06:15.180 Coalitions to the willing.

00:06:17.260 Yeah. Coalitions to the willing, tighter integration with countries that you share

00:06:21.180 a broader range of values, basically concentric circles of integration, which does make sense.

00:06:27.660 It's not, to be clear, it's not as efficient as the trading system that had been in place,

00:06:34.140 but that system is over. And the question is, what do we construct?

00:06:38.140 But when you look at actually what's happened in the last few months, all of these big countries

00:06:42.540 have been falling over themselves to cut deals with the US. So it suggests that they're not,

00:06:48.460 not all of them, not you, but the Europeans, the Japanese, everyone is essentially saying,

00:06:53.020 fine, let's just kind of get the best deal for us with this, you know, large tariff laden US.

00:06:59.180 Yeah, I think, well, there's been a process of countries recognizing the scale of the change

00:07:04.300 in US policy, making decisions about how to, and I'm using the president's word, President Trump's word,

00:07:09.900 how to buy access to the club. I mean, he uses the example or the reference to Costco or a reference

00:07:16.460 to a golf club, etc. You know, you're buying a membership through paying a tariff, making

00:07:21.100 investment decisions, making other decisions. So countries and trading blocks like the EU are

00:07:25.900 making those determinations. That is, given the current level of exposure and in degrees of

00:07:33.820 integration with the US. In their judgment, that makes sense. Is that the way they want the system

00:07:40.300 to be 10, 20, 30 years from now? Probably not. And the question is, what are countries and trading

00:07:50.700 blocks doing to help build that system? So right now, countries just have to do the best they can,

00:07:54.460 but then they can create a better one, which leads... Well, and it's also, if I may, so part of the reason why

00:08:00.220 countries end up in, quote, having to do one or negotiating from the position they're in,

00:08:06.620 is their degree of dependence on the United States. So the logical thing, and Canadians got here back in 1.00

00:08:12.220 January, February, is, well, we should take care of ourselves, do the stuff at home, and we should build

00:08:17.900 up relationships abroad. So the two things do go together, relationship with whatever agreement

00:08:23.900 meant with the United States, but really focusing on building up that outside option.

00:08:29.580 But you said a few months ago that this is not a transition, it's a rupture.

00:08:33.820 Yeah. And I was really struck by that, because that suggests to me that you think that the United

00:08:39.020 States is on a permanently different path. Do you think that basically the US is going to be a high

00:08:44.620 tariff country even after the Trump administration? I think, yes.

00:08:48.300 So I want to give a shout out to Zannie for doing that interview.

00:08:51.180 She exposed Carney for the con man that he always was. She just admitted that his whole

00:08:55.420 tough on Trump stance was just deployed to get votes. Carney seems to love Trump and has a weird

00:09:01.500 admiration for him. I'll never understand that. Now, some might say that Carney's actually playing

00:09:05.980 chess here. He's trying to play with Trump's ego to manipulate him to get a good deal.

00:09:10.700 Maybe that's what's happening. Maybe not. However, that's not what Carney said he was going to do.

00:09:16.140 That's not what Carney promised to do. He promised to be tough on Trump.

00:09:19.820 He promised to go down to the United States, talk a big game,

00:09:23.260 slap Trump around, and get a good trade deal. Remember, elbows up? That's a fighting reference.

00:09:28.940 Now Carney's gone back on it and he's acting like a fruity little school girl. And there's nothing

00:09:33.820 wrong with being a fruity little school girl. Nothing wrong at all. The problem is Carney lied

00:09:38.940 and he did the complete 180 the second he got voted in. That's my problem. I think if the world has

00:09:44.700 learned one lesson, it's never trust a liberal. But of course, people that watch my videos,

00:09:50.220 they already know that, right? I predict that Carney's going to be out of office within the next six

00:09:55.020 months, at most a year. He could be out even sooner. Next month, there's a vote on the budget.

00:10:01.100 And I've heard that the bloc, conservatives, and the NDP, they're unhappy with the deficit,

00:10:06.380 and they're going to be voting no. So it'll be interesting to see how that plays out. But even if he

00:10:10.940 somehow makes a deal and sticks around, I promise you, I predict he will not last very long.

00:10:17.100 It seems that Mark Carney only really has one friend at this point. And that person is Doug Ford.

00:10:22.460 And if you haven't seen the video I just put out on him, check it out. Have a bit of patience.

00:10:26.860 Have a little bit of faith. We'll have Paulie have an office soon enough.

00:10:30.460 Have a great night, Patriots. Talk to you tomorrow.

British Journalist TRICKS Carney Into Telling The Truth

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