British Journalist TRICKS Carney Into Telling The Truth
Episode Stats
Words per Minute
187.08676
Summary
In the latest episode of The Insider, host Sandy Cohen is joined by the Prime Minister of Canada, Stephen Harper, to discuss the impact of the Trump administration's trade tariffs on the Canadian economy. They discuss the economic impact of these tariffs, the impact on Canada's economy, and what to do about it.
Transcript
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Now, if you're a regular viewer to my channel, you should know that the last few weeks have
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been really bad for Mark Carney. However, Carney naturally decided to make it even worse.
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He sat down with a seasoned journalist from The Economist and she completely ripped him
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apart. Let's take a look at that. Prime Minister Carney, welcome to The Insider.
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Well, welcome to Ottawa, Sandy. Thank you. It's great to be here.
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You've been what? Prime Minister for six months. Yes. What are six months? I mean,
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it's been quite a six months. It's now what? Six months since Liberation Day 2. So let's start
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with tariffs. I mean, Canada is a country, one of the countries most affected by Donald Trump's
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tariffs. How much damage have they done? And is it going to get worse?
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Now, before we go any further, let's put this all into context. The lady doing the interview,
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her name is Zannie Minton Beddoes, and she's a seasoned journalist that's worked at The Economist
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for over 30 years, almost as long as I've been alive. On top of that, The Economist,
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it's a well-regarded magazine. My dad swears highly by it. On top of that, Beddoes went to
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Harvard and Oxford. Smart lady, impressive resume. I also want to point out, not only is this woman a
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seasoned pro, she works for a British magazine, which doesn't receive any money from the Canadian
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government. I also want to point out, she alternates between softball questions and hardball
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questions. So to start off, she's going to go soft. Now let's watch her rip Carney to shreds.
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They have had an impact without question on the Canadian economy. You saw it in the second
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quarter, negative quarter in the second quarter, renounced. Economy started to grow a bit again.
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So there was the initial adjustment. The bigger impact right now is the uncertainty. Where is the
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relationship going to go? Canada, the United States, in terms of our tariff regime,
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US, rest of the world. It's still in flux. And that's causing businesses in Canada and Europe, UK,
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around the world, to hold back on some of the investment. We're working to get greater certainty with
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the US. And what's he like to deal with? Now, we're still in the softball part of the interview.
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However, I want you to watch this next part carefully. Mark Carney completely gushes over
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his political adversary, quote unquote, Donald Trump. Well, you've interviewed him. I know that.
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But you've met him much more than I have. Look, he's very sharp. He's very curious about people's
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opinions on a wide range of issues. And so he will solicit my views, other people's views on topics of
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the day, particularly international. He's decisive. And he has an ability to change the dynamic
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very quickly on whether it's with respect to Ukraine, peace in the Middle East, global trade,
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and beyond. So you can understand. It's absolutely clear why he's leader of the United States. I mean,
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you've put together all those qualities. Now, to be fair to Carney, he's not technically wrong.
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However, Mark Carney based his whole election campaign on Donald Trump being this boogeyman,
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this scary man. And now he's turning around and saying the exact opposite. I believe Zannie knows this,
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and she's secretly trying to pry it out of him so the whole world can see what a duplicitous,
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The US is effectively monetizing its military hegemony and its economic cloud. I mean, it's
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essentially, and I can say this and you probably can't, but it's essentially sort of mafioso economic
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policy. Well, certainly I was, you had me at monetizing hegemony. You lost me as you went on.
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I think he has a view. He's not alone in his view. I don't share the view. But
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he has a view that you measure economic success in trade, just like you measure success in business
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of whether or not you have positive cash flow. And so for him, running a trade surplus is a sign of
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success. And if you're running a deficit, you, by definition, are either being ripped off or
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you're not as successful as you need to be. We take a different view, you know, comparative advantage.
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We don't have time, but since this is The Economist, I can say comparative advantage.
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I can also say, and this is, you know, higher level explainer at the back.
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If you have the reserve currency, the quid pro quo of having the reserve currency is you run a current
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account deficit because you got a supply. Have you tried that logic?
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I have not. There's not enough hours in the day to go there.
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All right. Now, here's the part that I told you about. Xanny's going to take off the gloves and
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give Carney a nice slap. Before we get into this, I've noticed that my videos aren't getting as much
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traction as they used to. If you're enjoying this video, give it a like, subscribe, and let me know
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if you saw this part in the comments section. All right. Let's get back to the action.
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President Trump's favorite analogy, you know, they have the cards, right? I mean,
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you know, they, they have not, not only do they have the economy, they also have the security side.
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I mean, you can't even defend the Arctic, right? By yourself.
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Well, we can defend more. We're defending more of the Arctic now. 365 days, land, air, sea,
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over the horizon radar in the Arctic. We're building out our sovereignty in the Arctic.
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But radar means you can see the difference. You can't actually, don't you need missiles to
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shoot things down? There are certain areas, there are certain areas where we will want to be
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integrated and continue to fully cooperate with the United States. I would suggest, some others have
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a different view, but hypersonic missile defense is one of those areas where we're going to want to
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do, and we have those discussions with them. But the analogy, to go back to your analogy,
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who has all the cards? There are other games. There's not just one game. That's the point.
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There are other games. And, and yes, we're going to spend more time to extend the analogy
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in the game with the United States, but we're going to play other games.
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That was probably the biggest non-answer I've ever seen to a question.
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But I'm glad Zannie is doing this. Mark Carney basically admitted that the whole elbows up thing
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was lunacy and that Canada doesn't hold any cards when it comes to the United States.
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But of course, Carney won't say it as directly as I just did.
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It could be a rules-based trade system excluding the US.
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Yes. Yeah. I mean, the US, there is, there is one, it's called the WTO actually. I think we're
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going to end up with a degree of variable geometry in trade, as well as elsewhere, where you have
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Yeah. Coalitions to the willing, tighter integration with countries that you share
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a broader range of values, basically concentric circles of integration, which does make sense.
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It's not, to be clear, it's not as efficient as the trading system that had been in place,
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but that system is over. And the question is, what do we construct?
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But when you look at actually what's happened in the last few months, all of these big countries
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have been falling over themselves to cut deals with the US. So it suggests that they're not,
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not all of them, not you, but the Europeans, the Japanese, everyone is essentially saying,
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fine, let's just kind of get the best deal for us with this, you know, large tariff laden US.
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Yeah, I think, well, there's been a process of countries recognizing the scale of the change
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in US policy, making decisions about how to, and I'm using the president's word, President Trump's word,
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how to buy access to the club. I mean, he uses the example or the reference to Costco or a reference
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to a golf club, etc. You know, you're buying a membership through paying a tariff, making
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investment decisions, making other decisions. So countries and trading blocks like the EU are
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making those determinations. That is, given the current level of exposure and in degrees of
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integration with the US. In their judgment, that makes sense. Is that the way they want the system
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to be 10, 20, 30 years from now? Probably not. And the question is, what are countries and trading
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blocks doing to help build that system? So right now, countries just have to do the best they can,
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but then they can create a better one, which leads... Well, and it's also, if I may, so part of the reason why
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countries end up in, quote, having to do one or negotiating from the position they're in,
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is their degree of dependence on the United States. So the logical thing, and Canadians got here back in
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January, February, is, well, we should take care of ourselves, do the stuff at home, and we should build
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up relationships abroad. So the two things do go together, relationship with whatever agreement
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meant with the United States, but really focusing on building up that outside option.
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But you said a few months ago that this is not a transition, it's a rupture.
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Yeah. And I was really struck by that, because that suggests to me that you think that the United
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States is on a permanently different path. Do you think that basically the US is going to be a high
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tariff country even after the Trump administration? I think, yes.
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So I want to give a shout out to Zannie for doing that interview.
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She exposed Carney for the con man that he always was. She just admitted that his whole
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tough on Trump stance was just deployed to get votes. Carney seems to love Trump and has a weird
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admiration for him. I'll never understand that. Now, some might say that Carney's actually playing
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chess here. He's trying to play with Trump's ego to manipulate him to get a good deal.
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Maybe that's what's happening. Maybe not. However, that's not what Carney said he was going to do.
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That's not what Carney promised to do. He promised to be tough on Trump.
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He promised to go down to the United States, talk a big game,
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slap Trump around, and get a good trade deal. Remember, elbows up? That's a fighting reference.
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Now Carney's gone back on it and he's acting like a fruity little school girl. And there's nothing
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wrong with being a fruity little school girl. Nothing wrong at all. The problem is Carney lied
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and he did the complete 180 the second he got voted in. That's my problem. I think if the world has
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learned one lesson, it's never trust a liberal. But of course, people that watch my videos,
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they already know that, right? I predict that Carney's going to be out of office within the next six
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months, at most a year. He could be out even sooner. Next month, there's a vote on the budget.
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And I've heard that the bloc, conservatives, and the NDP, they're unhappy with the deficit,
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and they're going to be voting no. So it'll be interesting to see how that plays out. But even if he
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somehow makes a deal and sticks around, I promise you, I predict he will not last very long.
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It seems that Mark Carney only really has one friend at this point. And that person is Doug Ford.
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And if you haven't seen the video I just put out on him, check it out. Have a bit of patience.
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Have a little bit of faith. We'll have Paulie have an office soon enough.
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Have a great night, Patriots. Talk to you tomorrow.