Trump Just Delivered The FINAL BLOW to Mark Carney
Episode Stats
Summary
Canadians are waking up to the reality that their economy is in a recession. Canada's economy has officially entered a recession, and it's a bad one. Canada is sliding further into third-world status, while south of the border, the US economy is booming.
Transcript
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This is a result of climate change, Mr. Speaker, climate change.
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We're being hit with filthy polluted air that's costing us billions.
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I'm calling the prime minister today and we're adding these costs to their tariffs.
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This is Fiber, a farm equipment manufacturing company in Crystal City, Manitoba,
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But Friesen says the current climate of U.S. trade uncertainty
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combined with Canadian red tape and regulations
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has him musing about a move south of the border.
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we definitely will have to continue to service our customers.
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There's certainly certain advantages of moving production to the U.S.,
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including, you know, having a more streamlined supply chain,
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you know access to a larger customer base. A new survey from KPMG shows 42 percent of
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Canadian manufacturers are considering moving production south or already have. 57 percent
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have paused, cut back or cancelled capital investment projects and 61 percent say their
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business can't survive without access to the United States. All right so Canada's economy has
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finally stumbled headfirst into recession. Not exactly a shocker to anyone paying attention.
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Well, maybe except for the elbows up crowd and the professional denialist on the left. But today,
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the federal government had no choice but to release the ugly numbers. And let's just say
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they don't paint a pretty picture. Canada is sliding further into third world status while
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south of the border, the US economy is booming. And Trump is not shy about it. He's flat out
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declared previously that he'll take Canada economically, not militarily. Bold words and
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As you're considering military force to acquire Panama and Greenland, are you also considering
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No. Economic force. Because Canada and the United States, that would really be something.
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You get rid of that artificially drawn line and you take a look at what that looks like.
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it is the biggest gdp drop since the pandemic gross domestic product fell at a 1.6 percent
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annualized pace for the second quarter of the year economic force the canadian recession has
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already begun so says canada's national post with economists now expecting canada's output to fall
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in the next two quarters the definition of a recession as exports stumble in the trade war
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with trump economic force we also agreed that we need to proceed carefully with particular attention
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to the risks and uncertainties facing the Canadian economy. If a weakening economy puts
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further downward pressure on inflation and the upward price pressures from trade disruption
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are contained, there may be a need for a reduction in the policy interest rate.
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Economic force. Canada's best and brightest are all leaving.
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It's called a brain drain and it's really hitting hard in Canada.
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Skilled professionals, entrepreneurs, and even doctors, who we need the most,
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are packing it up for places with better opportunities and less government chaos.
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Billions and billions of dollars are being moved to the United States,
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where the economic climate actually rewards growth instead of punishing it.
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In fact, foreign investment in Canada has dropped dramatically, while American markets keep pulling Canadian capital south.
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Canadian companies are no longer in the wait-and-see mode.
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Canadian manufacturers and exporters saw similar results from their own survey.
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The CEO says trying to work around tariffs makes Canadian companies less competitive.
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It is the worst of all worlds when you have a situation where you can't really predict what the future is going to be.
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Dennis Darby says members are watching Toyota's decision to move some production out of Mexico closely.
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I think it's going to be the largest plant in the world, a car plant, and they're moving into the United States.
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And again, they're doing that to avoid paying the tarp.
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International trade lawyer William Pellerin expects to see similar moves out of Canada,
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though any potential automaker move won't happen in the short term due to government backing.
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For sure it will happen in the wood product space.
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We're seeing that with our clients right now in that space.
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A lot of small towns will go from having an important manufacturer to nothing.
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KPMG found 11% of Canadian manufacturers plan to move their headquarters to the U.S.
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And with manufacturers making up more than 10% of Canada's GDP,
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experts say even that relatively small number could have a big impact on our economy.
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The only people who thought Canada could stand a chance going toe-to-toe with an economy over 10 times its size
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were the willfully blind or the poor souls watching government-paid media and believe in them.
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The truth is, the United States doesn't even want to cause damage to Canada.
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They just want a fair trade deal and for Ottawa to finally control its leaky northern border and drug pipelines.
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you know, the same folks who usually gaslight the public
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And watching them eat crow on live television is priceless.
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If you look at GDP, the Canadian economy doesn't appear to be doing all that bad.
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As of last count, Canadian GDP growth was just keeping its head above water,
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But the numbers change considerably when you look at measures of worker productivity.
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And they're projected to keep dropping for the next 40 years.
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Canadians are going to work, they're clocking in their eight hours,
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but on average, they're producing less than they used to.
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It's gotten to the point where Ontario, Canada's largest province,
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now has a per capita GDP roughly on par with Alabama,
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The University of Calgary economist Trevor Toome crunched the numbers and figured out that if Canadian labor productivity had instead spent the last six years keeping pace with the U.S., you know, instead of remaining stagnant, we'd all be making an extra $5,500.
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dollars. Negative winds are blowing with youth unemployment worse than we thought. According to
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a new report, it's at recessionary levels. That's not good. And it means that those between the
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ages of 15 and 24 are really having a tough time finding work. We sent CTV's Adrian Gobriel to
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check out whether this is just a blip or here to stay. Adrian? Sandy, I'm here inside a youth
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employment services office where the CEO tells me people are arriving in droves desperate for work
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and now one of Canada's largest banks says the increase in youth unemployment has surpassed
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levels we normally see during a recession and the troubling trend could linger. And here's the part
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that bothers me the most. The ones paying the price for all this incompetence aren't the well
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connected or the elites. It's Canada's youth. Right now young Canadians can't even land a basic
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entry-level job in their own country, while cheap foreign workers keep coming in thanks to
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disastrous immigration policies. But don't expect the liberal crowd to care. Their kids are already
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set up for life. It's regular folks like you and I that get stuck holding the bag, and that's the