The Candice Malcolm Show - WARNING! RECESSION is coming. Governor of the Bank of Canada gives DIRE forecast + CBC grief counselling over mean tweets

00:00:00.000 I'm Candice Malcolm, and this is The Candice Malcolm Show.

00:00:04.100 Happy Friday, everyone.

00:00:05.060 We have a great episode for you today.

00:00:07.240 We're going to focus on Fake News Friday.

00:00:09.040 It's our favorite show of the week where we just get to basically make fun of the legacy 1.00

00:00:12.640 media for the terrible, stupid stories that they play. 1.00

00:00:16.160 We kind of do that every day on the show, though. 1.00

00:00:17.960 But then something really incredible happened, which is that the governor of the Bank of

00:00:21.660 Canada, Tiff Macklin, came out yesterday and gave a pretty dire warning.

00:00:26.280 And so we're going to walk through that.

00:00:27.900 And I'm pleased to be joined today by some of my favorite online influencers.

00:00:31.620 I'm talking about Mark Nixon, who's a content creator focused on real estate, economics,

00:00:35.640 and politics in Canada.

00:00:36.740 And Kevin, who runs a popular X account, Government is Corrupt.

00:00:40.500 So, gentlemen, thank you for joining us.

00:00:42.600 Welcome to the show.

00:00:43.960 Thanks for having us.

00:00:44.740 Thank you.

00:00:45.980 Okay.

00:00:46.260 So, Tiff Macklin, this is an interesting thing, right?

00:00:49.000 Everything about the Canadian economy, it's always hinging on the trade war and the U.S.

00:00:53.880 And we sort of use it as the reason for all of our problems.

00:00:57.380 But those of us who have been paying attention to politics and economics for the past decade

00:01:01.440 know that our problems are much, much deeper and that the trade war is sort of just like

00:01:05.860 a catalyst into a potential recession.

00:01:08.260 But the problems are much, much deeper.

00:01:10.180 So at this press conference in Ottawa on Thursday, like I said, Bank of Canada Governor Tiff

00:01:15.000 Macklin, he warned that the long-lasting trade war is the greatest threat to the Canadian

00:01:20.660 economy and that it could push us into a recession.

00:01:23.320 So I'm going to play this quick clip and then I want to read some commentary on it and then

00:01:27.100 I'll get your reaction.

00:01:27.740 So first, let's play this clip of Tiff Macklin.

00:01:30.740 A long-lasting trade war poses the greatest threat to the Canadian economy.

00:01:35.560 It also increases risks to financial stability.

00:01:39.480 There are two key concerns.

00:01:41.600 In the near term, the unpredictability of U.S. trade policy could cause further market volatility

00:01:46.500 and strains on liquidity.

00:01:49.100 In an extreme case, market volatility could turn into market dysfunction.

00:01:55.500 In the medium term, a prolonged global trade war would have severe economic consequences.

00:02:02.700 Now, I think this is just sort of convenient that they can point to the trade war, point

00:02:06.440 to President Trump and say he's going to be the cause of all of our problems and this

00:02:10.440 is the threat.

00:02:11.300 I want to read what Dan Knight had to say about this.

00:02:13.380 Dan Wright runs the opposition and he's just a fantastic writer and I think he's spot on

00:02:17.360 here.

00:02:17.600 So I'm going to read this bit by bit here and I'll get you guys to respond.

00:02:21.780 So here's what Dan says.

00:02:22.720 He says, Ottawa, Tiff Macklin stood at the podium in Ottawa today, did what central bankers

00:02:27.160 do.

00:02:27.500 He wrapped deep, systemic panic in the calmest language possible.

00:02:31.160 But if you listen closely beyond the jargon, what you heard was unmistakable.

00:02:35.300 The wheels are coming off.

00:02:36.780 The Bank of Canada wants you to believe that everything is under control, that our banks are

00:02:39.920 resilient, our households are stress tested, and our financial system is sound.

00:02:43.380 But here's what they won't say out loud.

00:02:46.080 Canada is dangerously exposed and the people in charge have no real plan for what happens

00:02:51.120 if the trade war doesn't end.

00:02:53.340 He goes on, he says that the Trudeau era economic doctrine enabled by the NDP and now carried

00:02:58.020 on by Mark Carney told Canadians we could borrow endlessly, tax productivity and offshore our

00:03:04.240 economic foundations in exchange for climate virtue, signaling and gender budgets.

00:03:09.400 And now the math is finally catching up.

00:03:11.360 He says that households are stretched.

00:03:12.960 The bank admitted that credit card and auto loan delinquencies are rising fast, especially

00:03:17.520 among Canadians who didn't even qualify for a mortgage.

00:03:20.160 That's the underclass the Trudeau economy created. 0.98

00:03:23.220 They're not homeowners.

00:03:24.060 They're not investors.

00:03:25.120 They're renters with debt and no safety net.

00:03:27.800 And now they're the first to crack.

00:03:29.520 And then he goes on to talk about the sort of more middle class people.

00:03:32.740 He says even mortgage holders, those who were stress tested at an artificially inflated

00:03:38.040 rates, are walking into renewal shocks.

00:03:41.380 We know this, that anyone who's coming up, anyone who had a five-year mortgage that's coming

00:03:46.020 up for renewal in the next few years is going to face huge increased rates, right?

00:03:50.940 So he says about 60% of all outstanding Canadian mortgages, which equates to millions of households,

00:03:55.440 are set to renew in 25 or 26.

00:03:58.160 Most of those were taken out at rock bottom pandemic rates.

00:04:01.660 Even with interest rates easing, the majority will still face higher payments, squeezing

00:04:05.840 budgets already hit by inflation, taxes, and stagnant real wages.

00:04:10.060 I think this applies to almost every Canadian, right?

00:04:12.360 We're all feeling the same thing.

00:04:14.080 And then he goes on to talk about hedge funds.

00:04:16.440 He says, here's the best part.

00:04:17.880 They're now the biggest player in the Canadian government debt.

00:04:20.780 Hedge funds, particularly foreign-based ones, have rapidly overtaken traditional bank-owned

00:04:26.380 dealers in the government of Canada bond market.

00:04:28.860 According to the Bank of Canada, hedge funds now purchase nearly 50% of auction volume in

00:04:33.660 some bond maturities that account for 30% in the secondary trading market.

00:04:38.060 And so I was talking about this with you, Kevin, before we went on air, this idea that

00:04:42.620 most Canadians don't really understand bond markets, don't really understand hedge funds.

00:04:46.560 Well, this is what Dan says.

00:04:48.020 I'm almost done here.

00:04:48.820 He says, what happens is, so what would happen if these bonds just decided that they didn't

00:04:53.960 want to own Canadian debt anymore?

00:04:56.040 Like, they're foreign hedge funds.

00:04:57.860 And they just decide, like, OK, we don't really trust the future of Canada anymore.

00:05:01.140 They decide to sell it.

00:05:02.040 Well, Dan said this would trigger a funding crisis, liquidity freeze.

00:05:05.920 And if that hits, the Bank of Canada knows exactly what it would have to do, just what

00:05:09.500 it did during the COVID in the post-years, which was print money, intervene, and bail the

00:05:14.700 government out.

00:05:15.320 Again, we saw hints of this today.

00:05:16.500 Macklin saying that the bank might need to step in if the market appears dysfunctional.

00:05:20.580 That's not a forecast.

00:05:21.780 It's a warning.

00:05:23.040 This is what happens when you build your financial system on cheap debt, speculative capital,

00:05:26.920 and blind trust in globalism.

00:05:29.240 This is what happens when you have your hand in the economy run by unelected bureaucrats,

00:05:34.220 international bankers, and hedge funds.

00:05:36.640 And now it's all starting to unwind.

00:05:37.940 People who caused it want you to just stay calm, keep spending, and be quiet.

00:05:42.220 I think that's a very, like, perfectly stated overview of the financial system in Canada.

00:05:48.180 So I'll start with you, Mark.

00:05:49.480 What was your take from Tiff Macklin's comments yesterday?

00:05:53.520 What do you think about the Canadian economy, which to me, it seems like heading towards

00:05:57.100 something very scary?

00:05:57.960 Some say the bubbles in an Aero Truffle piece can take 34 seconds to melt in your mouth.

00:06:03.600 Sometimes the very amount you're stuck at the same red light.

00:06:07.080 Rich, creamy, chocolatey Aero Truffle.

00:06:10.100 Feel the Aero Bubbles melt.

00:06:12.140 It's mind bubbling.

00:06:13.120 Yeah, actually.

00:06:15.380 So, you know, I've been tracking this for several years now.

00:06:19.000 So this is no surprise to me at all.

00:06:22.020 Just two years ago, I mean, I was looking at how low the rates were.

00:06:26.460 And when I saw the rates rise at the fastest pace in Canadian history and reach that 5%

00:06:32.300 in such a short amount of time, I knew that.

00:06:36.240 So the way it works is it takes 18 to 24 months for interest rate hikes or decreases to work

00:06:44.700 through the system.

00:06:45.760 Lots of people don't know this.

00:06:47.180 This is actually on the Bank of Canada's website where they show and they describe this.

00:06:53.560 So when the rates go up to 5%, you know, you're going to notice some things, but it takes

00:07:00.520 two years for it to work through.

00:07:01.880 We're just starting to feel the full effects of the 5% interest rate.

00:07:07.620 So, yes, it has something to do with the U.S. and uncertainty.

00:07:11.280 It just adds to the problem.

00:07:13.900 The problem was already there.

00:07:16.720 Canadians are one of the most indebted countries on planet Earth, like for consumer.

00:07:22.660 Consumer debt's at 184%.

00:07:25.680 That means for every dollar you make, we have to serve as 184%.

00:07:30.880 And so what happens is many people, and Tiff Macklin was at fault for this as well, is

00:07:38.240 during the pandemic, they came out and Justin Trudeau came out and said, rates are going

00:07:43.240 to be low for a long time, Glenn.

00:07:45.280 I don't know if you remember that interview, but in that interview, they encouraged Canadian

00:07:49.740 citizens to borrow and to leverage their properties because interest rates would be low for a very

00:07:55.660 long time.

00:07:56.660 Look at historical.

00:07:57.660 In history, interest rates have always been going down.

00:08:02.020 Yeah, they go up a bit, but they've been going down for 40 years.

00:08:05.600 We're in a new 40-year debt cycle.

00:08:08.280 It just started in 2020.

00:08:10.440 Rates have gone up.

00:08:11.860 They're going to come back down, but the next cycle will be higher than the 5%.

00:08:16.160 We're in a deleveraging 40-year period.

00:08:18.520 The problem is, is in Canada, they said that we have to break the glass.

00:08:26.460 Who remembers the Bank of Canada, Carolyn Rogers, with her famous break the glass speech?

00:08:32.660 That was before this speech.

00:08:35.260 They've been warning us about the potential issues.

00:08:40.680 So for example, back in 2020, many of the mortgages, the average mortgage rate was sub 2%.

00:08:48.520 Today, if you were to get a mortgage, you're around 4%.

00:08:51.740 So you're doubling your mortgage interest costs.

00:08:55.400 A lot of Canadians, and they showed like 60% of Canadians, are living $200 away from insolvency.

00:09:03.380 And imagine you lose your revenue, your employment.

00:09:08.780 So there are some, I'm not trying to scare anybody, but this has been a thing in the making

00:09:16.140 for quite some time now.

00:09:18.120 There's probably going to have to be government intervention.

00:09:21.980 And if you want to stay up to date with this type of information, make sure you follow me

00:09:27.060 on X and my other channels, because I'm in the pulse of this information, and I'm providing

00:09:32.480 updates as it materialize.

00:09:35.240 Well, yeah, I think you're known kind of as like the chart guy on TikTok.

00:09:37.980 You always have all the numbers and break it all down, which is what we love about it.

00:09:41.480 Kevin, I want to bring you in on the conversation, because if you look at the financial picture

00:09:46.440 of just everyday Canadians, it isn't good, right?

00:09:48.840 We're over leveraged.

00:09:49.920 And like Mark just pointed out, many of us are just $200 away from not being able to make

00:09:54.840 ends meet.

00:09:55.780 And then you compound that with what our government does, which is just unbelievably blow out the

00:10:02.360 budget.

00:10:03.560 Justin Trudeau doubled the government debt federally in his just nine years in office.

00:10:08.420 It's like everything in our society, we're just like totally responsible when it comes

00:10:12.640 to money.

00:10:13.500 And it's hard to even see a way out of it.

00:10:15.100 Like, yeah, as Tiff Macklin warned, the government might have to intervene.

00:10:18.040 But it's not like they're in good financial shape to begin with.

00:10:21.300 It's not like they have been saving and putting away money for a rainy day, right?

00:10:25.220 They've been blowing out the bank, too.

00:10:26.460 So this is like a cross-society problem.

00:10:29.120 Like, what do you make of all this?

00:10:30.900 Well, it's interesting.

00:10:31.900 You know, in times of economic uncertainty, from a country's point of view, usually you

00:10:38.820 would lean on your gold reserves, right?

00:10:41.120 You know, if there is an economic crisis, you know, you would go to your gold reserves to

00:10:45.700 stabilize the market.

00:10:47.200 Canada is one of the only countries that has no gold.

00:10:50.600 So, you know, we're apparently in this, you know, massive economic crisis.

00:10:55.300 Yet we've been selling off our gold reserves since the 70s.

00:10:58.400 And the final sale happened in 2016 under Stephen Pelosi, Justin Trudeau as prime minister.

00:11:05.260 So we don't even have anything to lean on when it comes to, you know, dealing with this economic

00:11:10.920 crisis.

00:11:11.320 So there's really, you know, you talk about, you know, foreign hedge funds holding our

00:11:15.880 bonds.

00:11:16.380 There's only real two options that the central bank can do, you know, if they decide to sell.

00:11:22.180 They can just let interest rates rise because there'd be no buyers.

00:11:25.320 So bond values fall, interest rates rise, or they could intervene and then they could buy

00:11:30.340 up all the debt that, you know, the are that these hedge funds don't want by creating currency

00:11:37.580 out of thin air, which would, you know, collapse the purchasing power of the currency and drive

00:11:42.040 inflation, you know, to even higher levels that they are now.

00:11:45.900 So there's really two, only two ways out of this mess that we've created, which is a deflationary

00:11:51.740 collapse, you know, collapse of, you know, all these asset bubbles, you know, stocks, real

00:11:56.960 estate, and massive job losses and bankruptcies that sweep the economy.

00:12:02.800 Or you could have an inflationary or hyperinflationary collapse, something like Venezuela.

00:12:08.520 So there's no real easy way out of this.

00:12:11.300 But, you know, if you were to be asked, what is the better of these two scenarios, the better

00:12:16.820 is a deflationary collapse, because at least the middle class, and at least, you know, because

00:12:21.960 your currency doesn't get shredded through inflation, right?

00:12:25.620 So at least you'll be able to survive.

00:12:27.720 But, you know, when you take a look at, you know, inflationary or hyperinflationary collapses,

00:12:32.460 we've seen many of them, Weimar Germany, Zimbabwe, Venezuela.

00:12:37.040 It's complete catastrophe.

00:12:38.960 It's probably the worst thing that could happen.

00:12:40.620 So government intervention into this, central banking intervention into this, to try to

00:12:45.580 solve the problem that they have been creating for decades, is only going to exasperate the

00:12:50.200 problem and make it so much worse and make it so much more painful.

00:12:53.520 Well, it's so interesting that you say that the loonie might not exist or might collapse

00:12:57.860 under all of this.

00:12:59.220 You know, we kind of think that we are, like, in a different class.

00:13:01.740 We're like, in North America, we're safe, more protected from all those other things that

00:13:04.860 have happened throughout history.

00:13:05.820 Even I saw earlier this week, Conservative interim leader Andrew Scheer was on CBC, and

00:13:11.780 the CBC host was, like, debating him over whether or not Canada printed money during the

00:13:16.320 inflation.

00:13:16.680 It was like a distinction without a difference.

00:13:18.300 The CBC was just pushing pure propaganda.

00:13:20.660 But, Mark, I want to tie this into Canada's unemployment report just came out.

00:13:24.780 The numbers are in.

00:13:25.600 It looks like the rate of unemployment rose by 6.9% in April, and the economy only added

00:13:31.460 7,400 jobs.

00:13:33.780 And you pointed out to me that about half of those were temporary election-related jobs.

00:13:39.240 And so the numbers are really just not looking good.

00:13:42.900 Yeah.

00:13:43.300 So, I mean, we were at 6.7%.

00:13:46.140 We're at 6.9%.

00:13:47.780 This is the highest level of unemployment since 2016 outside of the pandemic, as well as we're

00:13:56.260 going to lose, so this jobs report included 37,000 jobs that were hired for the election.

00:14:03.820 So those are going to vanish.

00:14:05.500 We also have the film industry, which provides almost a quarter of a million jobs in Canada.

00:14:13.720 People don't know about it.

00:14:14.720 It creates about $14 billion worth of economic activity.

00:14:19.780 And the U.S. represents over 50% of all of the revenue jobs.

00:14:26.020 And with the 100% tariff threat, which I have to say, I couldn't believe it, but it was not

00:14:33.940 mentioned when Mark Carney was in the White House or during any of his meetings with Donald

00:14:39.980 Trump.

00:14:41.020 And I don't know if you saw Yves Francois Blanchet, but he said, you know, how did he not know?

00:14:47.360 I'll give him a break on that because he only announced it 24 hours ago, but I think he was

00:14:54.380 being sarcastic because if something was announced 24 hours ago, it should be first

00:14:58.860 thought or first on your mind because it's so recent.

00:15:04.020 So, yeah, a quarter of a million jobs, and those are in Vancouver and Toronto.

00:15:09.440 And also in the report, it showed that the city of Toronto has unemployment rate over 10%.

00:15:15.080 So just imagine the film industry goes belly up and it's already at 10% unemployment rate

00:15:23.200 in the city of Toronto.

00:15:24.940 So that's something to be paying attention to.

00:15:27.660 Obviously, there's some manufacturing job losses due to the pandemic or due to the tariffs

00:15:34.580 from the U.S.

00:15:36.260 So my take on this is that the Bank of Canada, they're in a tough spot because they see the

00:15:44.320 economic, they see this report and they, you know, so we just found out yesterday that

00:15:50.380 the Federal Reserve maintained their policy rate.

00:15:54.100 They didn't move.

00:15:55.500 And the Bank of Canada wants to move in sync with the Federal Reserve because if they move

00:16:02.320 and there's a larger spread between the rates, then that affects the Canadian dollar.

00:16:07.720 They might not be in a position where they could support the dollar based on this jobs

00:16:13.340 report.

00:16:13.920 They might need to support the economy.

00:16:16.000 They said they're going to look at it data set by data set.

00:16:19.480 Well, this is a negative data set.

00:16:22.880 So before I was thinking that they were going to be pausing over through the summer and the

00:16:27.540 next rate cut would be potentially September.

00:16:30.160 We're now looking at a potential rate cut in June.

00:16:33.580 So next month.

00:16:35.100 So that's what, yeah.

00:16:37.060 Well, Kevin, I want to bring you in on part of this because Mark was talking about how,

00:16:41.540 you know, you would really think that Donald Trump went out there and announced a 100%

00:16:45.600 tariff on the film industry, which like Mark said, in cities like Vancouver and Toronto,

00:16:49.860 there's a huge industry.

00:16:51.300 I grew up in Vancouver, a lot of friends in the film industry, in a days into it.

00:16:54.540 I actually used to work in it when I was a student.

00:16:57.300 But anyway, like the industry came because of government subsidies, right?

00:17:01.720 Government lured in the big American companies in part because Canada had a lower dollar,

00:17:06.180 although back then it wasn't as low as it is today, but in part because it would get

00:17:09.940 all of these film credits.

00:17:11.660 And the fact that Trump is kind of countering that, saying you can't cheat, you can't just

00:17:15.840 bribe American companies to leave America without us fighting back.

00:17:20.100 To me, that's fair.

00:17:21.680 It's devastating, but it's fair.

00:17:23.480 The fact that that wasn't brought up, though, in Carney and Trump's meeting, I just think

00:17:28.780 it's such an indictment of how weak Mark Carney was.

00:17:31.660 And yes, I came on the show and said that Donald Trump walked all over Carney.

00:17:35.400 I think that the general consensus online, if you were on X or on YouTube or on any of

00:17:40.560 these platforms, the independent voices, independent journalists and content creators all kind of

00:17:45.700 agreed that Carney was looking sheepish and, you know, couldn't get a word in and was humiliated

00:17:51.800 basically by Trump.

00:17:53.020 And yet, when you turn on the legacy media, if you read the Toronto Star, even Post Media,

00:17:57.740 certainly the CBC, they literally had the exact opposite take, that Carney did fantastic,

00:18:03.500 it was a great first meeting, that he got this great line in saying that some real estate

00:18:08.660 properties are never for sale, and Trump agreed to that, and really just praising Mark Carney

00:18:14.080 if he'd done something incredible.

00:18:16.160 To me, it was such a distinction that it was literally the exact opposite of what actually

00:18:20.720 happened, so I wonder if you could comment on those things for me.

00:18:24.500 Well, yeah, like if you actually took the time to watch the entire press conference,

00:18:28.800 you know, 30, 35 minutes or whatnot, and you analyze, you know, Mark Carney's, you know,

00:18:34.300 actions, his, you know, body language, and if you, you know, analyze Trump and the interaction,

00:18:41.040 it was clear as to who was the dominant and who was the submissive in that relationship

00:18:46.820 between the two, you know, and Mark Carney, at one point, you know, Donald Trump was going

00:18:52.800 on for about 20 minutes, Mark Carney had basically put his hand up so he could talk, and then

00:18:59.160 he, you know, gave this spiel that it sounded like he's been rehearsing it in his head for

00:19:03.560 weeks, and it's a line that he's been saying on the campaign trail, so it's nothing new,

00:19:09.100 it's just another slogan, which is interesting because he is the guy that apparently hates

00:19:13.840 slogans, I guess, you know, left wing slogans are okay, but, you know, it was, it was quite

00:19:20.180 clear who, who, who won that, you know, Donald Trump said four, four things, we don't want

00:19:28.060 your cars, we don't want your steel, we don't want your aluminum, and your predecessor was

00:19:33.080 a disaster, talking about Krista Freeland, how she was horrible, and I'm sure your audience

00:19:39.120 is aware, and I'm sure you're aware that, you know, Mark Carney is the godfather of Krista

00:19:43.440 Freeland's child, so he did, he didn't even have the ability or the backbone to stand up

00:19:50.040 and, and defend his, his, you know, godchild's mother, so does he really have the backbone

00:19:56.680 to stand up for Canada when he can't even stand up for, you know, his own supposed, you

00:20:01.320 know, family, I guess you can call it a family, because, you know, they're, they're pretty close,

00:20:05.340 so, you know, it just shows you that he's very weak, you know, and he's only able to talk

00:20:11.900 in, in sound bites, and, you know, I, I don't really see him as being this, you know, he

00:20:17.820 campaigned for a very long time saying that, you know, vote for me, I'm going to stand up

00:20:22.760 for Trump, and all his base were like, yeah, we're going to vote for you, because you're

00:20:26.260 going to stand up for Trump, and then, as soon as he had the opportunity, he didn't do

00:20:31.220 it, and then all of his supporters said, you know, he was such a genius for not standing up

00:20:35.460 to Trump, so, like, it just, it's, you know, the, the, the mental gymnastics and the parental

00:20:41.420 logic that goes on in these people's heads, they're never going to admit that they were

00:20:45.520 wrong, but it's clear as day as to who came out on top and, and who didn't, you know, tariffs

00:20:52.500 are still on, he doesn't want our products, and he basically insulted, he talked about

00:20:57.620 the Canada's 51st state, he insulted our predecessors, and Mark Carney didn't have a word

00:21:02.000 to say other than Canada's not for sale.

00:21:04.420 Well, and not only that, but the very next day, the governor of the Bank of Canada comes

00:21:07.740 out and says, this is the biggest threat to Canada, and it will prompt us into, like,

00:21:11.980 a spiral and a recession, so the Bank of Canada, you know, the guy that took, you know, there

00:21:17.320 was a few in between, but Mark Carney had that job once upon a time, and now Dick DeVacan

00:21:21.500 is coming out the day after, I don't think that's exactly a glowing endorsement that there

00:21:25.560 is institutional trust that Mark Carney will do the thing that he said he was going

00:21:30.460 to do, Mark, what do you think about this?

00:21:33.160 Yeah, I have two points about the meeting is, so I counted airtime, so how much speaking

00:21:40.660 time on each side, it's kind of like when you play sports, they actually track how much

00:21:46.000 time, say, let's say hockey, how much time the puck's on your stick, or, you know, how

00:21:51.320 much time you're on the ice.

00:21:52.360 Well, they did it for the debate, they had a big clock right on the debate stage saying

00:21:55.800 how much time each of the four leaders had speaking, so it's a political thing too, is

00:22:00.140 there an interrupt you can go?

00:22:01.060 Yeah, exactly, so, and one of the things is I tracked that, and then I published my findings

00:22:06.120 on my X account, and it blew, like, it got like 300,000 views right away, because it showed

00:22:12.580 that Mark Carney only spoke for three minutes and 12 seconds, and Donald Trump spoke for 30

00:22:18.940 minutes.

00:22:19.280 I mean, you don't, you don't need to explain how the meeting went, you just show that statistic,

00:22:24.880 and you're like, well, I mean, he didn't have an opportunity.

00:22:28.020 Another point that I wanted to mention.

00:22:29.600 I just want to make a comment about that, because I'm pretty sure that Marco Rubio spoke

00:22:33.420 more, I don't know if you guys watched the whole thing, but at one point during Trump's

00:22:37.060 remarks, he kind of got sidetracked, and he started talking about the Houthis at a ceasefire,

00:22:40.700 and then he just sprang it onto Marco Rubio to kind of give an impromptu speech about

00:22:44.620 the Houthis, so I wouldn't be surprised if Marco Rubio got more airtime than

00:22:49.180 Mark Carney.

00:22:49.420 I didn't track that, I just tracked the two, but that would be a funny statistic.

00:22:53.300 Another part of the, that I published as well is that, and it's incredible, is Mark Carney

00:23:01.000 is number one woke.

00:23:02.660 He loves woke.

00:23:03.860 Woke is number one with Mark Carney, so is Justin Trudeau.

00:23:06.880 They're the wokest people, and they're going to defend it, and that's why when one of you

00:23:11.600 says Donald Trump is at war with woke, but in Canada, we're all about diversity, and then

00:23:17.420 when Mark Carney's sitting there, and he only has three minutes, Donald Trump, and I counted,

00:23:24.660 Donald Trump smashed, and I mean completely destroyed woke for four straight minutes, so

00:23:32.340 he had four minutes of destroying woke, which is more than all of Mark Carney's talking time.

00:23:39.440 I thought that was, and you should have seen his face.

00:23:42.320 I screenshot a couple, and his face, he was just like, man, I wish he didn't go down the

00:23:47.060 woke train, so he didn't like that.

00:23:49.560 And if you, say you were woke, say you were someone who was like really all in for trans 0.90

00:23:54.540 and kids, and like all the craziness of the woke ideology, you would probably be pretty

00:23:58.900 disappointed that your guy, Mark Carney, got elected, and there he was just like biting

00:24:03.400 his tongue and quietly sitting there while Donald Trump was eviscerating the entire ideology.

00:24:08.700 Like, again, that just shows that Mark Carney doesn't have a spine.

00:24:12.400 If he truly believes in this stuff, he would have voiced his expressions, but he didn't.

00:24:16.840 He kept quiet.

00:24:17.700 One of the things I also noticed was that Mark Carney showed up with the delegation.

00:24:21.640 It was Dominic LeBlanc, finance minister, Melanie Jolie, the foreign minister, who was the

00:24:27.860 same foreign minister as Justin Trudeau, and then I thought it was Bill Blair, but I think

00:24:31.260 it was actually David McGinty.

00:24:32.520 So he shows up at this meeting in the Oval Office with three Trudeau ministers who were

00:24:38.360 the same ministers as the Trudeau government.

00:24:40.740 And so it was kind of embarrassing when Donald Trump noticed and said, you know, by the way,

00:24:46.440 your predecessor was terrible, and that woman that worked for him, he didn't even, I don't 0.99

00:24:49.440 even think he knows her name, right?

00:24:51.200 But he just started ranting against her.

00:24:52.900 And, like, literally, you know, the three people on the couch with him are, like, the

00:24:57.360 same people that were part of that administration.

00:25:00.400 It was just so cringe.

00:25:03.060 What did you think, Kevin?

00:25:04.220 Well, even if you go back a little bit before that, just to show how much the United States

00:25:08.660 or this, you know, presidency has respect for Canada, did they meet them at the airport?

00:25:14.220 Was the vice president there?

00:25:15.740 Was, you know, a secretary of state there?

00:25:17.900 No, it was a bunch of, you know, staffers from the Canadian embassy that met Mark Carney

00:25:24.200 at the airport.

00:25:25.740 There was nobody from the United States, you know, nobody of, you know, any clout anyways

00:25:30.760 that was even there.

00:25:32.340 So that right there, that shows you just how little respect they have for this, you know,

00:25:39.080 this prime minister or this, you know, political party.

00:25:42.080 No, that's such a good point.

00:25:43.020 I think we forgot to cover that, that there's usually a protocol that when a head of state

00:25:46.420 comes or met with, if not the head of state, someone high ranking, right?

00:25:50.700 Like the high, a high ranking member from like the Senate or from the administration.

00:25:53.940 But you're right.

00:25:54.720 There was nobody, there was nobody there.

00:25:56.680 And it was the same thing, by the way, when Mark Carney first got elected, he went over

00:26:01.100 to the UK and France and he wasn't greeted by first ministers or the president or anything.

00:26:07.260 He was, again, just met by bureaucrats, which I think, I mean, for Canadians, it's like,

00:26:12.240 remember the whole Canada's back thing?

00:26:14.600 Remember how Justin Trudeau was supposed to restore our vision on the world stage and our

00:26:17.960 standing?

00:26:19.120 And instead, it's like, nobody cares. 0.83

00:26:21.340 Canada is just a total afterthought.

00:26:23.240 And it's not even worth a trip to the airport.

00:26:25.520 Okay.

00:26:25.720 I want to bring in this one final story here.

00:26:28.660 This is so amusing.

00:26:29.680 Apparently, our friends over at the state broadcaster, the CBC, spent $68,000 to gauge their employees'

00:26:37.960 feelings and their hurt feelings over mean things said online.

00:26:42.000 So this is according to Black Locks, says, Ask CBCers about feelings, came out yesterday.

00:26:47.400 The Department of Canadian Heritage paid $68,640 for research that asked CBC journalists

00:26:53.960 if they were the subject of hurtful remarks by conservative politicians or rival media, according

00:26:59.120 to an access to information record.

00:27:01.240 The study did not name names, but said that 50% said that opposition political parties were

00:27:07.120 a source of their hurt feelings.

00:27:10.000 So, wow, what a waste of money.

00:27:11.860 This is what you come to expect at the CBC.

00:27:13.820 It's like a group therapy session.

00:27:16.940 And I just want to tie this to the CBC, with like a straight face, put out this report I

00:27:22.300 covered on the show earlier this week about how Danielle Smith's trip to Mar-a-Lago cost

00:27:27.120 taxpayers $10,000.

00:27:28.280 So they were outraged over the $10,000.

00:27:31.460 They spoke to a political science professor to talk about waste.

00:27:33.860 They pretended that nothing came out of the meeting.

00:27:35.740 It was a total waste of time.

00:27:37.220 Of course, they didn't look into the cost of like Justin Trudeau going to Mar-a-Lago,

00:27:41.160 probably with like 25 staffers on a government jet, or the cost of like all the lobbyists

00:27:46.340 that the government pays to try to like get special trade deals or anything like that.

00:27:50.480 But they're really outraged by $10,000 for the premier, and apparently it was three staff,

00:27:54.800 I said on the show, two staff, it was actually three staff, to fly from Edmonton, Alberta,

00:27:59.100 to Palm Beach, Florida, right across the entire continent.

00:28:03.520 Apparently, they didn't even fly business class.

00:28:05.180 The premier of Alberta flew economy, and they only spent $10,000 for four people to spend

00:28:09.780 two nights in Florida and score two meetings with the most powerful person in the world.

00:28:14.320 So just juxtapose that.

00:28:15.680 $10,000 by the premier to meet Trump, huge waste of money.

00:28:18.500 But they themselves can spend $70,000 to talk about their hurt feelings.

00:28:24.120 I'll go to you first on this one, Kevin.

00:28:25.720 Well, you know, what's funny is they probably spent more money putting that journalistic piece together.

00:28:30.720 They probably spent more than $10,000 trying to, you know, put all that, all those facts together

00:28:35.660 than, you know, Danielle Smith's $10,000 trip.

00:28:38.520 So again, it's just hypocrisy.

00:28:40.740 And, you know, they'll never point out the scandals and the corruption in their own,

00:28:46.300 on their own side, but they become into, you know, forensic investigators when it comes

00:28:51.660 to everybody else.

00:28:52.920 You know, it's the same thing as, you know, the meltdown with the $16 orange juice, but,

00:28:56.940 you know, you know, billions of dollars to the green slush funds.

00:29:00.100 Nobody cares.

00:29:01.660 Well, and it's only when conservatives are in office, right?

00:29:03.440 Nobody, nobody filed access information to find out how many, how much orange juice the,

00:29:08.340 you know, Catherine McKenna or any Trudeau minister was drinking is only for the conservatives.

00:29:12.480 What do you think, Mark, what do you think about $70,000 for therapy or research to find

00:29:18.220 out if CBC journalists have hurt feelings?

00:29:21.900 I think that's atrocious.

00:29:23.760 But one thing that, you know, going back to the $10,000 for Danielle Smith, one thing that

00:29:31.200 people don't, I don't know if people know this, but Melanie Jolie has a $51,000 a month,

00:29:41.840 not, not a year, a month bar tab where she, she's been spending $51,000 a month on alcohol. 1.00

00:29:51.900 So when you look at that and then I'm like, well, no wonder they brought her to the White 1.00

00:29:56.480 House.

00:29:57.260 She's got to boost these people up. 0.59

00:29:59.460 So, you know, that makes sense because when, during the, what she said, and I don't know

00:30:04.520 if you guys saw the press conference, but she said in the press conference, it was such

00:30:09.180 a successful meeting between the U S and Canada because Mark Carney had the opportunity and,

00:30:15.440 and Donald Trump to get to know each other.

00:30:17.700 Are you kidding me?

00:30:19.060 They've known each other for two decades.

00:30:21.080 They're business partners.

00:30:22.360 There's nothing to know about or get to know of.

00:30:24.780 So, you know, that's, um, yeah, I, um, this study thing, spending 70,000, um, our, our country,

00:30:34.140 that's why our country, um, is in the mess that we're in right now is because of absurd

00:30:40.720 things like that.

00:30:42.660 We need to get back to common sense.

00:30:44.880 And if we don't get back to common sense quickly, we're going to be in a world of pain.

00:30:50.040 Well, it was a perfect way to end the show on.

00:30:52.380 I couldn't agree more. 0.76

00:30:53.480 Mark Nixon and Kevin from Government is Corrupt.

00:30:55.660 Thanks so much for joining the show, guys.

00:30:56.740 I had a lot of fun and, uh, have a great weekend.

00:30:58.960 Thanks for having us on.

00:30:59.700 Thank you.

00:31:00.080 All right, folks.

00:31:01.760 That's all the time we have for today.

00:31:02.900 Have a wonderful weekend.

00:31:03.820 We will be back again on Monday with all the news.

00:31:05.760 I'm Candace Malcolm.

00:31:06.420 This is the Candace Malcolm Show.

00:31:07.500 Thank you and God bless.

00:31:11.280 You're watching Juno News, Canada's fastest growing independent news network.

00:31:17.920 Our team works day and night to bring you nationwide coverage of the issues that matter.

00:31:25.040 Honest reporting of the stories that put Canadians first.

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The Candice Malcolm Show - May 09, 2025

WARNING! RECESSION is coming. Governor of the Bank of Canada gives DIRE forecast + CBC grief counselling over mean tweets

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