In this episode of Stand On Guard, host David Coteen is joined by the banker's banker, Mark Carney, to talk about the latest poll numbers and what it says about the state of the Liberal Party and its leadership.
00:00:01.000Welcome back to another episode of Stand on Guard. I'm your host David Creighton and we're back. It's Monday, July 29th, the last week of July, and the summer continues to get just that much hotter. Be back in a minute.
00:00:19.240So we are in a very precarious position in this country. We need political change, but we also need to resolve to resist.
00:01:00.000If it does unsubscribe you from time to time, happens to the best of us, please subscribe again if you need to do so, and if you want to do so. I appreciate it.
00:01:10.020So we're heading past 27,000 subscriptions now, on towards 30,000. Hope to be there by the end of August. That's my goal.
00:01:20.520And we're going to really work towards that.
00:01:22.500But thanks for watching, and we're going to be talking about the banker's banker, Mark Carney, today.
00:01:31.520But for all of those you watched yesterday, thanks for doing so. Loved your comments.
00:01:37.180And yes, I don't believe there's any merger on the horizon for the Liberals and the NDP.
00:01:44.800Trudeau is quite happy to keep using the NDP, and the NDP is quite happy to be a useless idiot and pretend to be an opposition party while they are de facto a member of the government without a cabinet post.
00:01:57.460It's a great deal for the Trudeau Liberals, and I don't know what the hell the NDP think they're getting out of it.
00:02:03.980I mean, Jagmeet Singh hasn't got half a brain operating, obviously, if he thinks this is in his party's best interest.
00:02:09.980So he could get wiped out in the next election.
00:02:12.620Clearly, if you look at the results in Toronto-St. Paul's, it indicates again that the NDP is in a very distant third and probably is going to be hurt in the next election,
00:02:27.800but certainly is not going to scramble to become part of the Liberal Party as long as there's ego
00:02:32.960and as long as there's any suggestion that they're going to come back to their official opposition status,
00:11:00.000The core values that we need to incorporate back into our economies are what?
00:11:04.760Okay, well, again, thank you for that and for having me on.
00:11:10.220You know, I think we saw and in the run-up to becoming governor of the Bank of Canada,
00:11:15.440of course, we had the start of the financial crisis.
00:11:17.680It really broke once I became governor, not because I became governor, but once I became governor.
00:11:21.980And that is a period where we had put excess faith globally, particularly in markets and values of dynamism and efficiency,
00:11:32.140which are important, but in isolation, ultimately sow the seeds of their own destruction.
00:11:39.540What we have undervalued, and we see it in the COVID situation, what we've undervalued are values like resilience,
00:11:47.580sustainability, we see that in the climate crisis, solidarity, by which I mean solidarity with our fellow citizens,
00:11:55.120lifting all up, fairness, responsibility, and, you know, the challenge and humility, quite frankly, as well,
00:12:02.540recognizing the limits of our knowledge, recognizing that things can go wrong, planning for failure,
00:12:07.680and recognizing that with success comes responsibility.
00:12:12.640So it's, the book is, charts the course of how when we get this wrong, how we sow the seeds of these crises
00:12:20.480and looks at the various ones, then tries to tease out the response, from the response to the various crises of credit, of COVID, of climate,
00:12:29.580how, through the response, that we're trying to re-equilibrate these values,
00:12:35.720and then to general, not to generalize, but to bring the lessons more broadly for companies, for leaders, for countries,
00:12:42.920in terms of what should we do, how do we actually put this into action.
00:12:46.640How much luck do you think you had trying to get those two, you know, rather august institutions
00:12:52.020to think a little more broadly about what the nature of capitalism ought to be?
00:12:55.860Well, the first thing is to recognize I had a lot of luck to lead those two august institutions,
00:13:02.280and with that, you know, I think there comes some responsibility.
00:13:05.920In terms of, in terms of the Bank of Canada, I think the nature of the institution,
00:13:12.040I think the balance, there is that balance in that institution, a recognized, a recognition within its...
00:13:17.860Okay, I can't stand any more of that, but that gives you an idea of where this guy is coming from.
00:13:26.560And just read anything he has said over the past decade about the relationship between the economy and the environment.
00:14:29.960After policies that have been authoritarian, that have been totally geared towards fake pandemics, that have been totally geared towards environmental extremist policies, that have been entirely geared towards woke ideology.
00:14:49.340And that's what this man is all about.
00:14:51.280That's exactly what Mark Carney is all about.
00:14:54.420So don't be fooled for a minute that he's a moderate liberal.