The Critical Compass Podcast - Understanding The Tariffs with Martyupnorth

00:00:00.000 Thank you.

00:00:30.000 ah there we are hey everyone sorry for the long intro there uh welcome to this uh critical

00:00:41.560 compass live stream uh we're uh lucky enough to have uh marty up north with us again and uh we

00:00:49.100 are today going to discuss uh probably a lot of things but the the at least the excuse for getting

00:00:56.060 together today is tariffs this was going to be a whole lot of a lot spicier of a of a live stream

00:01:01.180 uh until about i don't know what it was three o'clock yesterday afternoon 24 hours ago yeah

00:01:06.880 yeah so but hey i mean i guess it's a good thing but marty what uh i don't know give your take on

00:01:13.280 this like for for people listening who just kind of vaguely understand the term of what you know

00:01:18.160 what we're talking about here. What is a tariff? A tariff is, usually countries will impose a

00:01:28.780 tariff on another country to prevent, to diminish competition on a good that they already make

00:01:37.620 coming into from other countries. So as an example, Canada makes aluminum, we make aluminum,

00:01:45.280 and and we want people to buy our own aluminum and if there's another country that has aluminum

00:01:51.200 and they make it really really cheap compared to us let's say china then we would uh our government

00:01:57.440 could impose a tariff on aluminum coming from china and what that means is that uh you know if

00:02:04.880 i'm the guy who's building trucks and i need to build an aluminum frame for my truck they're

00:02:09.600 encouraging me to buy aluminum from canada and and and if the aluminum from the from from china is

00:02:18.400 cheaper when they impose a tariff on it they artificially make it more expensive so they're

00:02:23.600 kind of forcing me to go find the loom to buy local and so it's usually limited for that like

00:02:29.520 very limited so in canada we've had tariffs against the americans for a long time like we

00:02:33.920 we tariff the out of their dairy products we make it completely uncompetitive for an american to

00:02:41.680 sell cheese or milk to canada like you never see my management right in that in this case i mean

00:02:49.040 in this case we call it like the dairy cartel because the tariffs that we impose on china were

00:02:53.600 like 200 so so if a china so if uh if an american wants to sell me a liter of milk he has to be like

00:03:01.680 200 cheaper he has to sell it to me for 50 cents i'll buy it for 50 cents and then the government

00:03:07.120 will slap another buck on it and and and if that's the case and it's still cheaper than the

00:03:13.040 canadian one well then so be it so so that's an example of a tariff and and when donald trump

00:03:18.960 said that he was gonna impose tariffs on canada and other nations he said he said this like this

00:03:26.400 is a policy of is right he said it in uh he said it during his debate with kamala harris like four

00:03:32.080 months ago he said it in his inauguration speech he hinted at it all along but he wants to use he

00:03:38.160 wanted to he wanted to use tariffs not to necessarily um well no he wanted to use tariffs

00:03:45.760 to force his own people to buy local and not to buy from canada and and and that's a that's a

00:03:52.320 crazy idea because they're already getting crazy deals from us like you know our dollars worth like

00:03:59.040 70 of their dollar and we're an exporting country and they're buying from us things that they already

00:04:04.720 need so the whole idea when when when donald suggested tariffs like initially i was not

00:04:11.360 worried about it like i i thought it's an interesting concept but i i wasn't fundamentally worried

00:04:16.240 So it almost seems like, if not for the benefit of forcing local, reliance on local American products, it almost feels like it's partially a power move and also partially to set the tone and to create a reaction that he's in the driver's seat.

00:04:40.360 and he's starting these ripples and now we're seeing everybody react in real time

00:04:49.160 oh yeah absolutely yeah yeah i mean uh you know let's go back to his original like when he first

00:04:56.120 mentioned tariffs he kind of mentioned it in the context of you know um that they would bring in

00:05:02.360 extra money that's one thing right so he he talked about like other countries he uses a weird term

00:05:07.880 right like he's he talks that they're subsidizing other countries i disagree with that i mean you

00:05:13.960 know like he very marginally like on paper the americans buy more from us than we buy from them

00:05:21.560 so he used the term you know we're subset we're subsidizing canada's like oh no it's a trade

00:05:26.200 imbalance but your your economy's 10 times bigger than north stars so you're always gonna so so he

00:05:31.640 used the term um you know he he was upset that we were that they were subsidizing other countries

00:05:38.920 he also bounced the idea of tariffs as a way to finance the government and be able to perhaps

00:05:46.840 lower the taxes on his own citizens and and then he also used you know he talked openly about the

00:05:53.640 fact that america used to be a powerhouse when it came to manufacturing and things like that and

00:05:57.400 they'd lost the the lead on some of that you know manufacturing was now occurring in china and india

00:06:03.000 and places like that so he wanted to use tariffs to to for for multiple reasons to regain advantages

00:06:10.440 to re to kickstart industries that had disappeared and to generate extra money so and and and those

00:06:17.400 ideas i'll you know i'm not an economist but those ideas are old i mean in fact he was talking about

00:06:24.440 this like he kept referring to one of their old presidents like mckinley did this it's like yeah

00:06:28.920 mckinley did that in 1920. like you know like the the world of 1920 yeah compared to today like it's

00:06:37.640 it's not the same way so um but so he did that for that but but but to your point james yeah he also

00:06:45.000 you know everybody talks about trump and his book the art of the deal and and and and other things

00:06:50.120 and yeah like in hindsight when i look at i i i tweeted about this today it was a wicked uh it

00:06:57.000 was a dick move it was a bully move it was a power move right and um you know this morning you know

00:07:03.960 canada's like we're going like we're breathing a sigh of relief he sent us a clear message but

00:07:10.200 think of them and we're his best friends right or supposedly we're some of his best friends

00:07:14.040 we're the we've been allies through whatever three wars think of the message it sends to um

00:07:22.200 to ukraine to saudi arabia to germany to south africa to brazil any other country that he's

00:07:28.840 going to do business with in the next year or four years and like if i'm willing to squeeze

00:07:34.360 my neighbors my best friends my cousins then what am i willing to do to you guys right so it was a

00:07:39.960 pretty pretty awesome power move yeah and that's for sure yeah now i want to say something i i

00:07:47.720 i know you're having something i'm having uh i'm having an amer i'm having an american bourbon

00:07:52.520 right now and uh i tweeted about this today um you know some of the stuff we saw the other day

00:07:58.840 like canadians booing uh at hockey game stuff like that sure it's it's it's emotional and there

00:08:04.440 was some reflection to that but no hard feelings right it's business business is business um

00:08:11.640 and so yeah that that was my message to americans well played trump well played

00:08:15.800 and uh hopefully no hard feelings we got the we heard you we heard you loud and clear and uh and

00:08:21.320 then let's move on well and what i heard as well is that i don't know how much truth there is to

00:08:26.600 this but i can i can see a world in which this is the case i mean one of the you know canada did

00:08:33.960 come forward with at least kind of like a skeleton of a plan kind of mid-December you know about a

00:08:39.460 you know two three weeks after the initial tariff threats and they said you know we'll commit this

00:08:44.300 amount of money and we'll commit that amount of money and then uh Trudeau went on a ski vacation

00:08:50.000 and then resigned and prorogued parliament and so nothing like no monies were allocated not nothing

00:08:56.340 was actually like uh you know instantiated um so this final threat here you know last weekend was

00:09:03.940 was kind of the you know we came forward again with yesterday apparently with a very similar plan

00:09:09.120 but with much more uh you know concrete numbers 10,000 border agents whatever and um interestingly

00:09:17.000 one of the new uh additions to that that plan was a uh like a joint American Canadian task force

00:09:24.540 kind of task force yeah yeah yeah and so so I was reading some comments where people were saying

00:09:30.040 like i think it was jason james i think is his name uh we follow him on x he he's a he's a good

00:09:35.480 commentator um he was saying that like maybe this is a maybe what trump actually wants is to like

00:09:41.860 get a little bit of insight into just how captured the canadian government is with chinese interests

00:09:48.020 maybe this is like an insider play to kind of like really understand what he's dealing with

00:09:52.900 oh yeah well i mean we're like first of all yeah like trying to trying to get into trump's mind

00:09:59.260 right now is impossible right like none of us like it always has been yeah you you can analyze it

00:10:04.300 yeah so earlier we talked about on the surface why would you use tariffs so you would use tariffs

00:10:09.740 economically for a small game but you can use tariffs or sanctions as punishment right we do

00:10:15.820 that to other nations like we've done you know we did it to iran and other countries like it's

00:10:19.980 it has nothing to do with um with uh helping our own economy like when when iran 20 years ago

00:10:27.180 misbehave and that's something we'd say well we're we're we're doing an embargo or we're

00:10:31.580 sanctioning you or we're doing stuff like that so so yes trump also simultaneously the tariffs

00:10:38.460 look like they were a bit of a a sanction or a punishment for not doing something he asked us

00:10:45.820 to do and one of the things yeah one of the things he asked is secure your border and and and and i

00:10:51.980 i'll admit like when he when i heard that when i heard him say that like uh whatever two months

00:10:57.100 ago um i was i was a little taken aback by that right i mean if you think of an americans and

00:11:04.220 their and which border is giving americans grief like the first one that comes to mind is mexico

00:11:09.820 right yeah but then i looked into our border and then you realize yeah yeah there is a you know

00:11:15.580 there is a fentanyl problem there is cartels cartel like we're gonna actually not cartel

00:11:20.780 like there's cartel organizations in canada in vancouver and toronto the chinese yeah absolutely

00:11:28.140 so did he use did he use the sanctions as a as a threat or a form of punishment sure absolutely um

00:11:37.260 and and then uh he he also used the sanctions as um as he could have used them as a bargaining

00:11:45.260 chip for for for because we also know that the nafta i keep calling it the nafta agreement the

00:11:50.300 north american free trade but the the existing free trade is is due for renewal like in july so

00:11:57.900 yeah i mean there's there's lots there's lots at play i'll even go this far to to the whole

00:12:03.260 chinese interference thing um yeah i think there's a quite a bit of value in there or not value a bit

00:12:10.540 of um validity in that like you know trump trump 1.0 when he got elected eight years ago one of

00:12:18.860 of his mandates then was like i'm going to clean up the swamp right i'm going to clean up the swamp

00:12:23.040 and and then he started cleaning up the swamp then he lost that election biden came in

00:12:27.620 now he's finishing this he's finishing cleaning up the swamp he's doing it in his own territory

00:12:32.160 but i think while while cleaning up the swamp he looked north he looked elsewhere and he saw

00:12:38.360 canada's like you know you guys got a little bit of swamp in uh pretty swampy yeah yeah pretty

00:12:43.240 swampy i'm gonna go he doesn't like trudeau like i don't think there's any uh love lost between

00:12:48.720 knows to so yeah one one thing i'm noticing is um as this unfolds there's going to be things

00:12:56.360 pushed into the collective consciousness that will be impossible to ignore and i'm curious for

00:13:02.740 us to observe like well what did the conservatives say about some of these issues what did the

00:13:07.740 liberals say and then i want to see how the story changes and then see if there's backpedaling or

00:13:15.320 see what unfolds with maybe they'll speak their mind and they'll claim something like well yes we

00:13:22.300 put in a border plan but look 90 of the weapons like that criminals use come from they're smuggled

00:13:29.980 across the border they let that one slip through and then like well what does that mean for our

00:13:37.600 our gun laws here in Canada as they try to double down and justify one thing it reveals more in other

00:13:46.100 areas so we got to be hyper vigilant to observe and to really call it what's happening yeah well

00:13:53.560 the the border one again that was an interesting one because he was he was sort of okay let's say

00:13:59.880 there is a problem with the border it's a two-way street right the border like people cross the

00:14:04.660 border so it's like yeah you want us to stop people from going into your country but you can

00:14:09.340 also stop them from coming into your country like last time i looked actually you're free to leave

00:14:14.820 canada and you're stopped when you enter the u.s and vice versa so when he was complaining that

00:14:20.920 but but that's not what he wasn't complaining about that i mean what he was complaining about

00:14:25.080 when he looking at the border is is is the bigger picture which is the stuff that we make here that

00:14:31.100 we're allowing across the border. But to your point, we could have easily said, sure, there's

00:14:35.540 drugs going in from our side to your side, but you're sending us guns. But then he could argue

00:14:42.420 the guns made in are not illegal, whereas the drugs are illegal. We can get into semantics, but

00:14:50.440 I'm glad we have an hour because we got a lot to unpack. I mean, there's like a ton to unpack.

00:15:00.100 like which way do you guys want to take this like we can go and also anyway and like anyway whatever

00:15:06.580 whatever feels right let's stick to this okay um let's let's let's let's let i think on your

00:15:14.340 train of thought james one of the things that um okay so that so yesterday we get this good news

00:15:20.720 right like i i fundamentally thought let's let's let what i would have done is let trump say he

00:15:26.180 wants to impose the tariffs because me pragmatically speaking you're just going to hurt yourself

00:15:30.660 that's what i thought and let him do that don't go with this retaliatory language and and and in fact

00:15:37.580 don't do the retaliatory language go visit trump and ask him what you want but unfortunately we

00:15:44.040 immediately chose to go down like the overwhelmingly like we all heard it last week team canada

00:15:49.520 nine out of ten premiers were all on board with retaliation they even started retaliating pull

00:15:54.480 pulling booze off the shelf canceling starling things and and whatnot i i saw yesterday as a

00:16:01.800 win because trump backed off temporarily on the on the tariffs and we have to come back on that

00:16:07.760 because yes i'm curious to see what happens in 30 days and i think there's technical issues there

00:16:12.140 but i had another win yesterday which is more closer to me as an albertan you guys know this

00:16:18.780 i'm i'm i'm bored like i'm an alberta separatist now i look at confederation and i don't think

00:16:23.740 been working very well and for me the events of the last three weeks like if anybody still thinks

00:16:29.740 that alberta is part of team canada like the like everybody had suddenly everybody had these

00:16:35.340 revelations oh we should have diversified the economy we should have had more markets we should

00:16:39.340 have built pipelines we should have you know they suddenly everybody wanted us on board to be team

00:16:44.780 canada the tariffs got listed lifted yesterday this morning they asked the premier of quebec

00:16:50.380 okay so now after seeing what just happened how do you feel about building a pipeline across

00:16:54.940 quebec to help alberta and what did he say flat out no way no way i'm like wow so uh to me i got

00:17:03.180 a couple of wins this week because one of my big wins was to was like you know uh what's the

00:17:08.140 expression um in vino veritas right like in in wine comes truth or in a good battle comes the truth

00:17:14.460 like and i i think we saw some ugly truths this week the country is has a hard time rallying

00:17:20.740 around a common cause and the country's divided so it's team canada well but not in that way but

00:17:27.600 in this way yes yes it's conditional yeah yeah i mean i i like i like listening to some of the

00:17:34.320 politicians today like there was one politician in particular the the the liberal leader or

00:17:39.220 candidate uh ruby i don't remember her last name uh um anyways like dolly wall or something like

00:17:47.300 right yeah something like that and and then she kept saying like oh the last 72 hours were uh

00:17:52.180 an eye-opener seven she must have said it five times in an interview the last 72 hours were an

00:17:56.500 eye-opener an eye-opener i opened her i'm like an eye-opener we pay you guys big bucks you're a

00:18:03.140 liberal you've been in power for 10 years and you couldn't predict any of this like suddenly like

00:18:08.500 what happened what happened this week is a is a huge eye-opener for you and you're going to

00:18:13.540 suddenly solve the problems the problems that we've been like you know screaming about for years

00:18:19.300 we should diversify the economy we should have more than just the americans as partners we should

00:18:24.500 have oil we should do this we should do that and then to hear liberals this week saying it was an

00:18:29.460 eye-opener and we need to fix that problem i'm like wow like and then i don't want to pick on

00:18:35.460 pierre too much but you know i found that pierre when pierre got on board this um the the retaliatory

00:18:42.420 tariffs i was like oh god you know you guys are all going down the center yeah he had such we were

00:18:48.640 talking about that yesterday briefly it's like we he had such a perfect opportunity to just from the

00:18:53.420 start say like what what daniel smith was saying like hey listen i mean it's a it's a very simple

00:18:59.440 ask what what trump was asking two months ago like if if the border is so like if we're such

00:19:05.640 a small portion of the amount of drugs and illegals entering the u.s if it's so like

00:19:09.780 insignificant then it should be easy to solve like why are you why are you risking billions

00:19:15.460 of dollars in a in a crashed economy if it could be just whoa it's just nothing right

00:19:20.080 it didn't make any sense from the beginning yeah if it if it is a huge problem then trump's got a

00:19:26.500 point if it's a small problem it can be solved so by it doesn't need this like dick measuring

00:19:32.760 contest right no and and i mean um lots of people brought up similar ideas but i you know i love

00:19:40.580 twitter and places like that because you can put out an idea and then and then either your tweet

00:19:45.120 ages well or it doesn't age well yeah i've had a lot of tweets that age well in the last few weeks

00:19:50.420 i mean like i would have i i literally said a month ago why don't we designate somebody uh

00:19:57.140 you know significant to go negotiate with trump because it wasn't going to be trudeau he's a lame

00:20:01.380 duck and he doesn't like him i'm like pick somebody else don't pick jolie pick somebody

00:20:06.420 legitimate send him to go meet with trump and then work this out you know oh you don't like

00:20:11.780 our border done we'll fix that you don't think uh you don't like we're not spending two percent of

00:20:16.740 our gdp on uh on uh the military our bad you're right donald sorry uh what are we short 50 billion

00:20:24.900 i can't do it next year but tell you what how about i do 25 billion dollars is that okay oh

00:20:30.020 better yet i'll do 25 billion dollars in the next couple years and i'll buy everything i need from

00:20:35.300 you guys i'll buy a frigate from you guys 180 jets and maybe a whole pile of ammunition is that good

00:20:41.140 enough oh and you're worried about um greenland and the russians tell you what here's a thousand

00:20:46.580 square kilometers of prime real estate in labrador build a base knock yourself out man like this

00:20:51.460 could have all been negotiated and so maybe that's what he wants right maybe that's what he want and

00:20:56.900 he he just goes for the jugular and then backs up and then and then we'll see the real negotiation

00:21:03.220 but um because i mean the concessions he got from us right now are what like you know trudeau comes

00:21:09.220 out he he rehashed a plan he he published like december 18th like we're gonna do 1.3 billion

00:21:15.620 dollars over three years that's 130 million dollars like what is that like you know that's

00:21:20.580 arrived can every year like we spent more than that on the arrive can app and um and and and i

00:21:27.620 want to dissect that i don't think he can i don't even think he can deliver that 1.3 billion dollars

00:21:32.580 in the next 30 days oh i very much doubt it i doubt because i went i went in detail through

00:21:38.340 the budget the money's not there man like he won't be able to the best that trudeau can do in the

00:21:44.260 next 10 30 days is we can deploy the military along the along the board like he can he can call

00:21:51.620 the the vandu's and the ppcli and just send like you know a thousand guys like the americans are

00:21:57.380 doing on their southern border we can we can set up a couple of tents and send a bunch of guys and

00:22:01.300 have people fly back and forth in our heli and our in our uh antiquated 50 year old sea kings and

00:22:08.340 vietnamese era helicopters yeah yeah yeah well that's um that brings up a point about like uh

00:22:16.620 when you when you talk about like getting getting wins right like do i was curious to see what you

00:22:22.140 think like do you consider when i was looking at how the tariffs broke down right at the end there

00:22:27.560 when he announced the difference in like 25 across the board 10 on canadian energy would you do you

00:22:34.700 think that that was a daniel smith win do you think like when she went down and chatted with

00:22:38.380 him like the reason why it wasn't 25 as well on canadian energy is because she had some effect

00:22:43.600 on that or do you think it was unrelated no i think she had i hope i think she had some effect

00:22:48.560 i mean she didn't just like she she didn't just meet trump like during the inauguration she was

00:22:53.260 you know working pretty hard i think she had more effect with other people and and lobbyists like

00:22:58.740 oil industry executives um like realistically like the pictures of her and trump last week or

00:23:06.820 two weeks ago when she was at mar-a-largo or whatever like it was her photographer taking

00:23:11.140 pictures and she was publishing the pictures if trump really liked her he would have published

00:23:16.580 the pictures like he did for so many other people remember when he went to paris last uh for the

00:23:21.700 reopening of notre dame like he was all happy you know here's him so anyways i will let me collect

00:23:30.580 my thoughts so she had some impact more importantly i hope i hope she tapped guys you know the

00:23:35.380 president of cnrl the president of trans canada those guys and say you talk to your counterparts

00:23:40.580 which they did but let's not forget trump also does have really smart people working for him

00:23:48.420 like he can he he like you know the that's one thing i love about the american presidency like

00:23:53.300 once a week he'll like he'll pull out his rolodex any president can do this and say i want to see

00:23:59.140 the senior guys from the oil industry in my office next week and they'll be there and they'll talk to

00:24:03.940 him so i'm sure the people who own the big refineries in chicago and in the mid the midwest

00:24:11.220 and then houston they got a hold of them and said donald by the way and i know this because i worked

00:24:16.500 on keystone right they they consume 12 million barrels of oil per day they make nine and then

00:24:23.860 donald said drill baby drill it's like donald you can drill baby drill but not all oils are the same

00:24:32.260 so the oil that you're short those three million barrels those four million barrels you get from

00:24:36.900 us actually he gets three million from us because we send four they keep three and they send three

00:24:41.540 one back up north to to ontario it takes a really so the three he gets from us every day

00:24:48.100 is very heavy crude that they burnt that they distill in their refineries to make diesel

00:24:54.980 and they can't make and so donald can drill baby drill all he wants he won't find that

00:25:00.740 crude in his territory he'll find a little bit of it in california but it's in california like

00:25:06.340 you know and then and then everybody said well then we can import it from venezuela that's fine

00:25:11.540 you can so you're choosing to import from venezuela instead of from canada a nato ally and

00:25:17.300 you think that venezuela is going to give you a great deal because you just cancelled the deal

00:25:21.300 with uh with canada and there's still a technical problem because the oil that break if you brought

00:25:27.460 in the oil from venezuela the keystone pipeline that goes to all those refineries it's going in

00:25:32.260 in one direction so now he brought you so anyways if i know it trump knew it and his advisors knew

00:25:38.640 it and somebody tapped him on the shoulder and said maybe maybe we go 10 on oil so um because

00:25:47.820 the other tariffs sure people could replace you know what's what what do we sell apple juice he'll

00:25:53.140 go get it from somewhere else lumber he'll get it from somewhere else but i expected it on oil

00:25:58.380 we could have crippled him and that's the other thing i mean like we we think we're small we could

00:26:04.460 have crippled him on a couple of things man the oil would have been crippling like if we shut off

00:26:08.420 the oil it'd be a bit crippling and our potash man if we shut off our potash whole potash is huge

00:26:13.920 yeah totally and actually i spoke to somebody else about this i'll i'll give credit to it's

00:26:20.060 david parker where me and david had a chat on this like i asked david because every election

00:26:24.800 is one like on the mark on the edges right like even the even the trump election looks like it

00:26:29.780 was big wasn't a big win man he still had to uh flip pennsylvania and wisconsin and a couple of

00:26:36.540 key states like that so i asked david i'm like if you if if you had to retaliate for real

00:26:41.520 where would you hit and he picked like three states with a where with about only a million

00:26:47.920 votes but they were mostly farmer states like it's like yeah you you you shut off the potash

00:26:53.140 going to the to iowa and uh and ohio and places like that man those guys will turn the farmers

00:26:59.700 they'll turn on trump so fast yeah so luckily we didn't get there but we do yeah we did we did have

00:27:06.260 a couple in the chamber i mean we could we could technically retaliate but yeah well yeah so to

00:27:12.420 your original question danielle was diplomatic god love her for that i'm not you know she she

00:27:17.700 did a good job i don't think it was one-on-one with trump but her one-on-ones with a whole bunch

00:27:22.100 of other people and sending a bunch of energy guys to to supplement what trump's own guys

00:27:28.100 would have been saying to him for sure yeah and when you say cripple the united states

00:27:34.420 that would still have an effect on us too like if we're not selling that so it it's

00:27:42.660 it's mutually agree yeah what's the term for nuclear energy uh mutually assured destruction

00:27:47.940 yeah like why would we want to go there i don't want to go there man like no so the other thought

00:27:53.380 is um i've seen a lot of demonization of daniel smith for even going to the united states and

00:28:01.780 having these conversations and that to me is insane that she is actively embracing diplomacy

00:28:10.660 and getting demonized for that and that doesn't make sense to me but the worst one was nenshi

00:28:17.940 Sorry, James. Sorry to interrupt your thought.

00:28:21.400 No worries.

00:28:24.920 Again, acting in self-interest, and what we're going to see more of is these things that get revealed, it's going to be used solely for political gain.

00:28:38.240 so even oil being as much of a big big deal right now and if they say like well look at how critical

00:28:46.120 like look at how much we're relying on oil and if we didn't sell this oil that would cripple

00:28:51.800 our economy then they'll just say well we need more wind farms we need more solar and we need

00:28:59.800 more evs so they're going to use it to continue to push their goals even though the reality doesn't

00:29:06.700 match up, it's going to be used. That's what I'm most curious about is how all these revelations

00:29:13.820 are just going to be used to double down. I want to unpack that one in a second.

00:29:19.120 I'm circling EVs because we got to come back to EVs. But I do like, Nenshi was disgusting.

00:29:25.580 Like Nenshi literally put out a tweet two days ago that said, Albertans deserve a leader that

00:29:34.480 will work for canada i'm like what kind of mental gymnastics is that it's like no no no no no no no

00:29:42.720 no albertans deserve a leader that will work for albertans within the context of canada absolutely

00:29:50.160 but if canada is not cooperating then then like we don't bend to the rest of canada like people

00:29:56.240 are saying they didn't like you know oh congratulations trudeau you didn't bend to trump

00:30:00.960 but bad danielle because you didn't bend to trudeau well she should be on the same team as us i'm

00:30:07.280 like maybe i'm on team trump for this one i don't know right like oh nenshi's takes on this were

00:30:12.480 brutal then she we should just be happy that the tweet wasn't uh from nenshi albertans albertans

00:30:20.000 deserve a premier who will work for brussels or for davos or for something like they may as well

00:30:25.200 be right might as well be i actually that's a great i i use that kind of example when i'm

00:30:30.400 sometimes when i'm making a point i will take somebody's tweet and just change one word in it

00:30:35.500 we all do that right you change one word and you go and then people go well that's disgusting i'm

00:30:39.800 like yeah does the logic carry in the logic carries exactly so um i i want to go back to evs like yes

00:30:47.520 that's that look at look at how the narrative look at how the liberal narrative collapsed in

00:30:53.340 not just because of Trump but also because of the election you know they're like suddenly they're

00:30:57.980 moving away from the carbon tax they're moving away from net zero they're moving from so a lot

00:31:03.360 of things they're moving away is I see three reasons one they're moving to the center because

00:31:09.120 that's where Canadians are so they think they went too far left so they're moving to the center

00:31:13.480 they'll say they're moving on their own I think that Pierre is pulling them to the center but

00:31:20.040 trump is pulling them as much right like right now anybody can say whatever they want trump is this

00:31:25.720 big giant mass in the middle of the continent and he's a he's gravity he's a supernova and we're

00:31:31.400 being you know lights not escaping so we're all so whatever policy you have as an example when trump

00:31:36.440 said um i'm canceling um uh dei policies or net zero like 14 banks followed in suit including

00:31:46.920 five here in canada said we're done with our dei policies instantly it's like wow what was what

00:31:52.120 why were you doing it in the first place wow you know and the excuse was always well it made

00:31:57.640 business sense or whatever it's like no it doesn't you did it because he did it so um so the lip and

00:32:03.960 so they they reversed that but yeah on evs like last week what did they say well we should impose

00:32:10.040 a like i'm sure freeland said we should impose a hundred percent tariff on um on teslas i'm like

00:32:17.640 but but but but a month ago you're telling us that by 2035 all cars sold in in canada have to be

00:32:23.560 electric you know like oh my god yeah they were they were saying that thing yeah that's ew plant

00:32:30.280 that's not going to exist yeah they were spiting themselves is that the correct expression to uh

00:32:34.920 cut off your nose to spite your face yeah that's what they were doing like they were

00:32:40.460 you know yeah it was it was uh and and we gave the example of uh of francois legault who like

00:32:46.880 a week ago was like hey we should all be team canada we should have diversified the economy

00:32:50.500 we should be selling oil to whoever and then the tariffs are gone can we build a pipeline across

00:32:55.180 quebec nope i mean the quebecers the quebecers by canadian by canadian by canadian by canadian

00:33:00.400 like he literally said in france we have to we have to tighten our belts kind of thing and we

00:33:06.640 have to buy canadian and and for the next little while you know buy canadian buy canadian as soon

00:33:11.600 as the tariffs were lifted everybody's like okay well i'm going back to florida yeah nobody even

00:33:16.480 left florida to come back home like there's a million quebecers in florida right now a million

00:33:21.280 of them million snowbirds and yeah telling me that i'm an albertan and i'm bad and i should

00:33:28.160 be on team canada while you spend six months of the year in florida okay sure like here's a simple

00:33:36.880 little question how much how much the oil you like how much of the gasoline in quebec is canadian

00:33:46.000 about uh about 10 percent it's it's very minuscule by canadian except in this case

00:33:55.760 yeah i mean the the oil in uh i have videos of this because i worked in quebec i mean you see

00:34:01.960 you see the little tankers coming up to saint lawrence right up to quebec city and then they

00:34:06.500 unload their crude there's a refinery in quebec city and there's one in montreal the one in

00:34:10.880 montreal can find a way to get some crude from the u.s but like i said it's taking a torturous

00:34:17.300 pass from canada the ones in quebec city are getting all their crude uh up to the unfrozen

00:34:24.180 section of the saint lawrence and then i love this argument i mean people people in uh people in that

00:34:29.620 part of the world say our oil our gasoline comes from uh irving refinery in saint john new brunswick

00:34:34.900 i'm like okay yeah where did god get it yeah you got me your gasoline is quote unquote

00:34:41.540 made in canada but the raw materials for it came from dude i've had people say well quebec doesn't

00:34:48.900 and buy gasoline the refineries do or whatever i'm like oh my god like people oh please yeah

00:34:54.400 yeah yeah you get the same kind of bullshit where it's like well these peppers were grown in

00:35:01.480 argentina like packed in spain and then like now brought to canada and yeah or they're like they

00:35:08.700 put a stamp on it they're like yeah they're canadian peppers because we we touched them

00:35:14.060 in one can like at one point of the chain we did something and now they're canadian the food the

00:35:21.360 food industry is terrible for that right like packaged in versus made in versus sourced in like

00:35:27.660 they they play games it's uh yeah i wish we could put a made in canada sticker on the gas pumps or

00:35:35.360 or just where it's made i wish that everybody in in quebec who lifted the nozzle had a little

00:35:41.320 sticker that says you know Qatar uh Saudi Arabia whatever Oman just just show where your gasoline

00:35:48.520 came from yeah yeah I wonder if that would have an effect on on how on people's perceptions because

00:35:53.940 I mean I don't know what the what the average Quebecer believes but you gotta think that like

00:35:59.400 even even the most like you know anti-Albertan Quebecer would would still probably prefer Alberta

00:36:06.620 oil to saudi oil right like you'd have to think that they've been yes you'd have to think they

00:36:14.300 would they don't they've been they've been so they've been conditioned to not even think about

00:36:21.240 the fact that they're burning gasoline yeah like they they they they they justify burning gasoline

00:36:29.260 by saying well we're pretty green on everything else like i have like for them burning gasoline

00:36:35.380 in a car is just a uh what's the word it's just a necessary evil and and and um at this point for

00:36:45.220 them whether it came from canada or us or uh saudi arabia is irrelevant for them both are bad and so

00:36:52.560 since they're both bad i'll take the one that's closest to us that's literally their way of

00:36:57.400 thinking about it they've they've justified it in their heads i mean like i talk about this all the

00:37:02.060 time i i tweet about this about every six months because i love picking on quebecers like you know

00:37:07.100 and um like they buy more they buy more trucks than albertans do like is that right like just

00:37:13.020 oh just in sheer numbers man there's like there's there's nine million quebecers and there's only

00:37:17.660 you know five million albertans so ford sells more f-150s in quebec than they do in alberta

00:37:23.740 and people go oh well that's on a per capita basis i'm like i'm glad you brought that up

00:37:27.580 you guys buy more quebecers buy more gasoline powered vehicles per capita than anywhere else

00:37:32.540 in the country they love cars man they love cars and then and then trucks have outsold cars in

00:37:38.780 quebec since 2014. but but when you show that to them they're not hypocrites those are just

00:37:45.580 necessary evils that there's no replacement we're good because in their mind their their their

00:37:52.620 environmental footprint is uh nine times better than ours because they got electricity that's it

00:37:59.460 like it's it's it's it's argument these are things that feel good on the surface they're done because

00:38:06.100 well like well if we do a b and c then we're we're the good people we're the moral and it's top down

00:38:14.100 you just you kind of like assert what is moral yeah and now it just yeah i just assume that

00:38:20.720 Every Quebecer is driving a 1970s Renault 10.

00:38:25.340 They are actually, not 1970s, but they do, again, they love their cars.

00:38:30.340 Like you go to Quebec City, La Grande Allée in Quebec City,

00:38:33.200 and it's a showcase of beautiful cars.

00:38:35.920 And they tend to drive cars that we don't drive.

00:38:38.980 You will see beautiful Renaults.

00:38:40.840 Like Renault makes nice cars.

00:38:42.420 And you'll see Fiats and all sorts of Italian brands.

00:38:45.680 Europeans, Quebecers drive lots of Sobs.

00:38:49.400 You drive all over Quebec, man.

00:38:50.720 there's sobs everywhere i imagine right now it's full of deslas and um yeah they'll have to find

00:38:57.100 a way to convert all those interesting bunch classic cars into uh evs yeah just slap some

00:39:03.020 battery packs on them right somebody's working on that i'm sure yeah yeah well there was a comment

00:39:09.100 earlier i mean on here i wanted to go back to a point you said marty about um uh uh like the

00:39:16.920 general shift towards the center in this uh from the liberal party in the in commentary uh i can't

00:39:22.200 i don't know if i can find the comment are we getting comments can i see the comments or

00:39:25.640 yeah oh there's tons of comments i never even saw that oh cool under the yeah tab it was uh

00:39:31.240 pearly i think uh was the was the um i don't know if it's he or she but was saying um i can't find

00:39:40.640 the comment but just some general idea that uh poliev didn't want any like didn't want to give

00:39:47.160 carny any ammo in like sounding like trump light or anything like that in his comments so that's

00:39:52.520 why he maybe was a little soft on that i actually think and i think we've probably talked about this

00:39:56.800 before that it for the last like year and a half it's felt that poliev has has generally been

00:40:01.980 structuring his discourse around like being as moderate as possible to not scare away potential

00:40:07.940 liberal voters like disillusioned liberal voters do you see much of that in in his reaction to the

00:40:13.700 tariffs yeah 100 like he like you know the only person like i think danielle had a different

00:40:20.420 stance on tariffs and everybody says uh max had a different stance yeah max you had a different

00:40:24.820 stance but max unfortunately you're just you're just on the margins and uh and poiliev

00:40:30.740 poiliev i'd love i'm not a political strategist but i would love to see poiliev he could have

00:40:40.740 come out i don't think there would have been any harm in him saying how about we just negotiate

00:40:44.900 how about we just meet trump and negotiate with him or or do something different force the hand

00:40:50.740 of the like he could have done something different i think what he did was literally like play

00:40:55.780 exactly the same liberal like there was nothing about his stance that was different from the

00:41:01.900 liberals like nothing so like give me something but he he indistinguishable yeah and the excuse

00:41:09.220 that yeah i would love to sorry it was chatty it was chatty lumpkin not pearly but pearly's been

00:41:14.120 making good comments too sorry james go ahead there there's definitely been some good comments

00:41:18.140 in general um i would love to do a test where we take some of the statements on tariffs from each

00:41:25.140 leader of the political party hide the names and then see people can actually tell who said what

00:41:33.140 because they are not that different what's the conservative take on this you could do that on

00:41:38.000 tariffs and you could actually do that on every liberal candidate right now that's running for

00:41:43.240 the liberal leadership right i mean oh we're going to can the carbon tax we're going to recon we're

00:41:48.420 going to lower taxes we're reversing our policy on uh on the inclusion rate for uh capital gains

00:41:54.580 like god i haven't like the the they are all going down this dude it i i posted about this

00:42:03.440 the other day you know i i joined the liberal party okay i admit it i joined the liberal party

00:42:08.160 and so i'm getting your first folks yeah yeah and and by the way you can come audit me i don't have

00:42:14.680 a conservative party of canada membership so you can come audit me yeah that's a ten thousand dollar

00:42:19.940 fine apparently the only membership that i have is i belong to the alberta conservative party

00:42:24.760 because i live here but otherwise anyways so now i'm getting all these um these correspondences

00:42:31.660 from from the liberals and i got one from karina ghoul the other day and it said something like

00:42:37.180 you know i'm not going to be i'm i'm liberal i'm not going to be conservative light and and i'm

00:42:43.900 like oh my dear like no your statement is actually very conservative light as much as you like us

00:42:49.460 you know there's no one was worried yeah no one's worried and then and then i'm like i'm only it's

00:42:54.960 only a matter of time before like that's what i've been criticizing pierre don't be conservative

00:43:00.260 light or liberal light or whatever you want to call it be conservative yeah and and and again

00:43:07.120 i'm not a political uh strategist but being conservative seems to work in places like

00:43:13.980 alberta and it's worked in florida and north dakota or whatever like um yeah it's uh well

00:43:22.040 that'd be a fun game we need to do oh i'm gonna do that on twitter tomorrow man like who said

00:43:26.760 this i'm gonna put out quotes put a poll out yeah yeah yeah pearly says yeah with with trump's

00:43:32.900 ascendancy it would be safer for him to be a tad bit more conservative and i i would agree i mean

00:43:37.440 like look at look at from last year like what was what was paulia's arguably most popular moment

00:43:44.340 was when he was eating that apple and giving that reporter shit for asking a stupid question

00:43:49.380 extremely trump-like in in his delivery very like that sort of adversarial relationship with

00:43:55.540 like a shit lib reporter that's perfect he should lean into that like people love that

00:43:59.740 i found a great video online today on youtube and uh i can't remember the name of the guy but i i

00:44:05.980 posted it on twitter and uh it's an american who who uh i guess went to davos last week and he heard

00:44:14.540 trump by video conference and and in this video the guy says like you know when he when he first

00:44:20.380 started hearing trump he thought oh my god they're gonna they're gonna do everything to destroy him

00:44:24.860 here in davos and he's like and then the question and answer came out and then and then all of a

00:44:29.820 sudden um everybody was like literally applauding trump trump because trump said you know um i'm

00:44:36.700 gonna i'm gonna lower taxes i'm gonna kick start my economy i'm gonna start burning natural more

00:44:43.100 oil i'm gonna become energy independent i'm gonna secure my border and he just went on and on and

00:44:49.580 and then and then he's like the the commentator said everybody in davos who a week ago hated him

00:44:56.300 now secretly admired him that was his sort of um his his his conclusion and he's like trump was a

00:45:05.100 bit of a paradox but when he thought about he's like no they're basically admitting they're

00:45:10.540 basically admitting and that what they they the um the the woke revolution and and the net zero

00:45:17.580 green revolution in europe failed miserably yeah and the guys at davos are looking for an excuse

00:45:23.740 to finally say this failed and to your point trump uh poiliev has it like what what what trump said

00:45:31.980 in davos pierre we've told you the exact same thing the way out of our mess because it's a mess right

00:45:37.500 now so what trump's going are while he is going to have to cut government cut taxes um start paying

00:45:44.940 down the debt do all those things and and instead of adopting these real austerity measures you can

00:45:53.180 make that hard pill easier to swallow if you kickstart the economy yeah and and i think that's

00:45:59.180 the path you know people people who really are analyzing trump are saying that he is 100

00:46:06.460 well-intentioned that's what he wants to do kickstart the american economy fix this mess

00:46:12.140 and go further start paying down the debt and really really restore the economy so yeah well

00:46:18.860 yeah man like become trump's best friend yeah like so well lean into it i mean like he's making

00:46:25.000 yeah trump is making like what the like europe has well this is a whole other live stream but

00:46:32.800 europe has so many problems but the the number one of which is that they've they've suffered from

00:46:38.580 like a 200 as bad as like north american liberals of of their of like not having any sort of national

00:46:45.240 identity and like like self-flagellating before they would ever have a national identity and

00:46:49.880 trump is making nationalism cool again he's giving he's giving license to other people

00:46:55.460 to just admit that you're a nationalist and you you you put the interests of your country and

00:47:01.460 your citizens above that of the global interests that don't give a shit about your country and

00:47:06.740 it's like that's perfect that's exactly what these countries are needing right now to like

00:47:11.600 kickstart this kind of, like you say,

00:47:13.760 kickstart a little bit of a, okay, we're going to

00:47:16.080 localize it. The whole idea of

00:47:17.440 what did

00:47:20.020 Klaus Schwab say?

00:47:21.780 We've infiltrated the

00:47:23.540 governments around the world.

00:47:26.020 And then he bragged about Trudeau

00:47:27.960 and he bragged about

00:47:29.360 Arlen or whatever her name is.

00:47:31.760 What's her name in New Zealand?

00:47:34.640 Jacinda Ardern or something.

00:47:35.960 Jacinda Arlen and then Merkel

00:47:37.800 and he named them all, right? They're all

00:47:39.800 failed ideologists the post-national state um you know we talked about this on the show like look

00:47:46.520 at what we did in our own country man like we're a small great country that historically punched

00:47:51.720 above its weight class and we were good at uh extracting resources we didn't worry about too

00:47:58.120 much about manufacturing we extracted resources and we sold them to the rest of the world and

00:48:02.680 and uh and we made a good living and somewhere along the way we convinced ourselves of what we

00:48:08.280 were doing was dirty and bad i mean i posted about this last week look at the five largest

00:48:14.520 corporations in the u.s and look at the five largest corporations in canada like the five

00:48:19.720 large ten of the five of the ten largest corporations in canada are banks banks the

00:48:26.760 whole world can do banking and that's what trump's pissed off about because the whole world can do

00:48:31.400 banking we're not he's not even allowed to bank in our country but we're allowed to bank in his

00:48:36.280 country and and yeah like where's our real value our five largest five of the ten largest companies

00:48:43.320 are banks man god it should be the potash companies it should be the oil companies it should be like

00:48:49.960 we shot ourselves in the foot and germany and european countries like i haven't been to europe

00:48:54.680 in four or five years i'm almost afraid to go to europe because i'm probably going to cry if i go

00:48:58.760 to europe and see what you're gonna get arrested you know probably can't even get on a plane but

00:49:04.520 europe is a germany is a massively failed experiment like of their their their transition

00:49:10.440 to green my god it does tie into the there's been a fear of nationalism and it gets demonized very

00:49:17.400 very quickly but i love tying things back to finding like finding parallels between like

00:49:23.640 looking at a country as a entity but also looking at like well what of our what about

00:49:29.240 our family units or our personal lives and usually like you you hear this advice of like

00:49:36.880 get your house in order and get your life in order before you try to fix the world

00:49:40.700 clean your room clean your room jordan peterson yeah like if you are if you do not have the

00:49:47.680 capacity to even like hold yourself up and go through your daily lives how do you expect to

00:49:53.440 contribute or save other people and the same can be said for a country if you don't have enough

00:49:59.920 nationalistic or enough of a canada first spirit to make sure people are doing well in canada

00:50:07.660 how can you be properly contributing to this globe like how can you be saving the world

00:50:14.640 if we can't even save canadians first and i i see what like it's it's such a simple concept

00:50:22.140 but it's it's it's lost on people oh well now we're going to get into a bit of uh i'm willing

00:50:30.920 to go down this sort of rabbit hole i mean there are some people that say you know the destruction

00:50:35.780 that was that was um uh thrown at us is legit is intentional i get that i get that right i mean

00:50:42.780 because to your point there's there's comments that have been made by trudeau some days where

00:50:46.880 just go holy like you know he was he very recently like about two weeks ago he was at a conference

00:50:52.560 somewhere and and um somebody was like how can you know making the argument that when somebody's

00:51:00.160 starving they really don't care about you know climate change right and which is which is you

00:51:07.520 like what's the order of uh order of needs right like oh maslow's uh yeah and so so then trudeau

00:51:14.320 brings that out and then he's like you know what it's my job as a leader to make sure to to to

00:51:20.960 sort of overrules canadians if i sorry that they're starving but the bigger picture here is

00:51:25.680 we need to save the planet and i'm i'm the moral compass and i'll make sure we still save the

00:51:30.960 planet even though they're starving like he was like when you dissect him when he's talking like

00:51:35.760 that you go man you are great like either you're completely brainwashed or you're completely

00:51:40.320 compromise and there's a bigger like i hate you know i've talked to you guys about this i've talked

00:51:44.720 to this a lot of people i hate thinking about conspiracies because i'm an engineer and i know

00:51:50.320 that just you know just just just doing a compressor station building you know spending

00:51:55.840 six million dollars building something is stressful and i need to coordinate i have people

00:52:00.000 that lose sleep over it and i have to convince them that we'll get through this so coordinating

00:52:04.720 humans to do something is a lot of work so when i hear people talk about these weird huge

00:52:09.920 conspiracies i lose interest i lose not i i don't lose interest but i'm skeptical but then i get

00:52:17.600 somebody who'll remind me that say well yeah but you know one or two people can change the whole

00:52:23.840 room and make uh you know germany is an example so the yeah litmus test is um you you play the

00:52:31.840 game of like okay if every option if every action seems like it's the inverse of any competent

00:52:39.360 person then that's not like that's not that's not just that's not accidental that is statistically

00:52:47.300 yeah yeah it's hard to like really be that terrible when you're like it feels like there's

00:52:55.140 something else going on if they are doing the inverse yeah it's the it's the um yeah when

00:53:02.980 you're the only person on the train with a mask and there's 400 other people without a mask and

00:53:08.180 you say you guys are all wrong it's a pretty rare occasion where you're correct in that assessment

00:53:14.740 but yeah um yeah i i don't i don't like to believe in conspiracy theories that said uh what are we

00:53:22.280 batting on conspiracy theories in this country like we're we're we're nine for nine right now

00:53:26.800 and some of the events of the last uh decade have you know we we have uh bugs coming in food in

00:53:34.900 europe now yeah yeah yeah no that's a conspiracy the the the like when you say litmus test james

00:53:41.280 the the test that i like to use is uh if somebody is if somebody with a huge platform like either

00:53:49.400 funded by a media company or a you know a some special interest group or some government official

00:53:56.320 is specifically telling me that i shouldn't be talking about or saying something or listening

00:54:01.680 to people who say certain things i pretty much know that that thing was 100 correct that's that's

00:54:07.180 what i go for if somebody if somebody with influence is saying you can't say this that's

00:54:12.220 probably because it's true if there's money behind it yeah uh frank what's frank's name from uh

00:54:18.960 ecos polls right now like frank is the the lone voice in the wilderness telling everybody that

00:54:23.840 the liberals are back in the lead okay thanks frank yeah yeah yeah he's trying so hard man

00:54:31.100 he's trying so hard yeah and and uh so you yeah you have a litmus test or you know what do we call

00:54:38.760 it like our spidey senses i mean it's weird how our spidey senses have been knocked down right

00:54:43.660 people like i hear stuff all the time and i go oh that doesn't sound right or that that can't be

00:54:48.560 correct even today somebody sent me some some statistics from from the u.s showing uh that

00:54:55.080 americans were investing a lot of money at you at one of the universities and like it was a billion

00:55:00.660 bucks i'm like that's that's the uh that's like three times the annual budget of the school being

00:55:06.180 invested by the americans i think we would have known about that a while ago like there's a

00:55:09.540 decimal place wrong somewhere there or it's over the last 10 years something like that so uh i i

00:55:16.100 can't help myself that's what i do all the time i just i just question stuff yeah yeah yeah yeah

00:55:21.620 did you hear how um uh is it usaid like is that how you say that like that that department that

00:55:27.220 they're dismantling did you see that i saw i read something today that uh the american

00:55:31.940 government is like the biggest financer of the british of the bbc like why oh i don't doubt it

00:55:39.860 yeah the that's like so strange when the money gets funneled through multiple entities

00:55:44.980 it just we have our own wash at some point yeah yeah we have our own uh we have our there's a

00:55:50.020 lady on twitter naya i don't i never know how to pronounce her last name but she she spends a lot

00:55:56.900 lot of time going you know this is all public information right like all these weird funds

00:56:01.500 that you and i could apply to i mean you and i could apply to and get thirty thousand dollars

00:56:05.980 to study uh you know do goldfish get drunk drinking uh bourbon like somebody will give

00:56:11.760 you 30 we should do that study yeah we should and yeah you know like uh anyways she naya does that

00:56:18.400 all the time she uh yeah that lady uh yeah fanner still naya fanner still and so she's often going

00:56:26.120 into that website you know we each have our like i like to go to the i like to go to um to the

00:56:33.240 statistics canada website and she likes to go to one of these and find these weird studies and

00:56:37.400 she's uncovered some doozies like we're no we're no we're no i i i look at this at the macro level

00:56:44.840 at the absolute macro level in the canadian budget there's a category at the bottom worth 86 billion

00:56:51.320 dollars called miscellaneous transfers like when you when you like the budget's so big right the

00:56:56.040 budget could be like 50 pages long so it's condensed in and when you condense it into three pages

00:57:03.080 something that's manageable there's an 86 billion dollar box at the bottom called miscellaneous

00:57:09.320 transfers and man that is the slush fund of all slush funds like that's that's money to ukraine

00:57:16.920 that's money for every every pet project and yeah and yeah i like what's the um what's what's the

00:57:25.080 what's trump's new press secretary what's her name um i can't have her name she's a pistol

00:57:30.120 we're gonna eventually we'll all remember her name because she's uh she's she's good hey

00:57:35.000 he's 27 years old man like that's one thing carolyn levitt yeah yeah so yeah she was holding

00:57:41.080 that up like the guys from doge give her the stuff and she's the one reading it going like

00:57:45.160 here 90 uh yeah you know 90 90 uh 50 million dollars to uh you you might get in trouble if

00:57:54.040 you play it like every one of her clips are fantastic or do you get you won't get censored

00:57:58.520 for playing yeah don't worry about it yeah um like she she uncovered one the other day like

00:58:03.880 they were sending 50 million dollars to gaza for condoms oh yeah and like the like i think it wasn't

00:58:10.920 i plays and stuff think it wasn't exclusively for condoms but like they were not part of the aids

00:58:17.220 but uh or part part of the aid aid package what i what i wanted to touch on is we when we were

00:58:25.520 talking about tariffs and we're talking about the potential impact that like 25 has yeah when it

00:58:32.700 comes to it like Canadians started caring so much about that yet there seems to be

00:58:40.020 no unifying voice when it comes to like well what's the impact of inter-provincial restrictions

00:58:48.040 carbon taxes or any of the additional taxes that we just pay just on our normal day-to-day

00:58:57.980 we are paying a handful of taxes so in this one case oh these tariffs that's a tax that's bad

00:59:05.100 and now people don't seem to put that same lens back towards their cells to analyze what's

00:59:13.260 happening in canada so okay cool uh yeah i tried to get a little traction on that so one of the

00:59:20.260 things i did um is i so we we we trade we traded in 2022 or 2023 we traded 700 billion dollars to

00:59:30.420 the u.s so then i just did a table and i did 25 percent tariffs 110 so the tariffs amounted to

00:59:37.540 125 billion dollars okay now technically the americans were going to pay that but once the

00:59:43.900 tariffs are imposed on the americans what's supposed to happen is either they find a new

00:59:48.920 market so we lose the 125 billion dollars of trade or they they squeeze us and and and they

00:59:56.680 narrow it so let's so the amount of money we looked to lose only on the americans imposing

01:00:03.000 their tariffs would be 125 south maybe anywhere in between there right our government our government

01:00:12.920 spends two billion dollars a week on debt servicing interest debt servicing so yeah yes to your point

01:00:23.320 like the 125 billion dollars that's uh that's two years of interest on our debt our government

01:00:29.960 spends our government accumulates debt it's not even paying the debt it's that's just the interest

01:00:35.880 on the debt our government is accumulating this year officially 72 billion dollars it probably

01:00:44.520 will end up at 90 by the time the parliamentary budget officer finishes doing their math

01:00:49.800 so we're not worried about that 90. yeah the interprovincial trade barriers we can't even

01:00:55.640 estimate the number you know like a trucking company you can't you there's there's different

01:01:01.640 standards for trucking companies in every province you leave from one province to deliver to another

01:01:06.760 province you have to do paperwork all along the way there get way bills across the place

01:01:12.200 you can't buy alcohol i'm an engineer i have a ring i can't practice in quebec or any other

01:01:17.720 province even though i'm i'm i'm sanctioned here unless i pay them money to do that um it goes on

01:01:25.000 and on and on yeah and and like our country team canada yes we were worried yeah we were worried

01:01:31.080 about 125 billion dollars we blow that all the time all the time but and that's it now now man

01:01:39.560 you guys are good you're gonna get you going yeah yeah yeah um i do this all day you know welcome

01:01:45.960 to being retired this is what marty and my and my wife's all happy he's like yeah go talk go talk

01:01:53.240 i haven't had a lot i i went all january without a drink marty's having a drink tonight so he's

01:01:58.760 maybe a little bit tipsy but and that was the other thing yesterday so maybe trump wanted to

01:02:07.800 get 125 billion dollars in tariffs do you know how much money the u.s economy lost yesterday just

01:02:13.000 because of the fear the stock market in the u.s yesterday dropped 2.3 percent at the worst point

01:02:19.560 right at the worst point 1.5 trillion dollars in u.s money vaporized and then people say well the

01:02:27.000 market came back up i'm like that's great somebody made money but somewhere along the way yesterday

01:02:33.240 people lost 1.5 trillion freaking dollars so and our government has done silly things like

01:02:39.640 this in the past so in order to recover 125 billion dollars of potential lost money

01:02:45.640 the americans shot themselves in the foot to the tune of 10 times that amount like it's it's it's

01:02:54.520 it's staggering and that's part of the reason i think behind the scenes that is another part of

01:02:59.640 the reason why trump said oh you know like we shouldn't do this but then people say well

01:03:06.200 what's 100 billion what's 100 trillion or what's 1 trillion on a on a 21 trillion dollar economy

01:03:12.440 i'm like that's five percent like that's uh you know i still a trillion dollars yeah yeah

01:03:17.800 do you know who uh do you know who thomas massey is yep yeah you know how he has his little like

01:03:23.960 debt counter badge that he made he like he's an engineer too he's like a computer guy right

01:03:29.700 and he made this whole uh like debt counter that he wears as a lapel pin and it's just constantly

01:03:34.840 it's linked uh to the to the u.s treasury and it like constantly cycles okay updates in real time

01:03:40.700 yeah it's in real time that'd be depressing i was i was listening to him on uh on tucker actually

01:03:46.780 this was a few months ago and um he was saying that he was like looking at it and it was in it

01:03:51.240 was in march or or uh or april or something and instead of just ticking constantly up like for

01:03:56.620 for a couple minutes in in april it actually went down for a second and then it started going back

01:04:01.360 up and that's because everyone was paying their taxes it was tax season and then the debt started

01:04:06.320 coming right back up but i feel like we need one of the like paulio should should ask him to make

01:04:11.080 one for uh for the canadian treasure the canadian taxpayers federation has one on their website they

01:04:16.520 have one on a truck that they drive around once in a while like it's uh it's a big number it's a it's

01:04:22.040 a number that doesn't even make sense to anybody i mean the uh you know the the the just the federal

01:04:27.080 debt on one side is 1.2 trillion dollars and then and then there's uh there's a 600 million dollars

01:04:37.160 or 600 billion in pension debt and people say well that's it's a cpp no that's not the cpp that's

01:04:44.040 federal employee uh pensions that has nothing to do so on the books our government has 1.8 trillion

01:04:50.600 that's just that the federal government if you add up all the provinces the provinces themselves

01:04:55.720 add another three trillion dollars and then you do the municipalities and then you do the average

01:05:00.680 canadian we are we are first or second or third depending on the metric in terms of debt per

01:05:07.240 capita we are absolutely absolutely like eighty thousand dollars per person is that it's a

01:05:14.260 ridiculous number like that yeah yeah you're when your kids are born they're born into debt like it's

01:05:19.220 it's a big number and that's one of the things uh you know i'm again i'm not an economist i know

01:05:26.400 enough to to be harmful but uh trump is wants to address their debt i mean their debt compared to

01:05:32.440 ours like is is is more than 10 times ours and then he's worried about the the the games being

01:05:38.240 played with their currency because the u.s dollar is funded is de facto a reserve currency around

01:05:43.720 the world and stuff like that so he's aware of some problems yeah yeah i i feel like part of

01:05:49.860 this posturing from trump is um so with the dollar being it's a reserve currency and it's a currency

01:05:59.400 that all other countries settle transactions in.

01:06:02.920 But BRICS is growing right now,

01:06:05.060 and you're having more countries using BRICS as a system

01:06:09.060 almost in defiance of the United States and the USD.

01:06:15.160 And I feel like the strength behind Trump

01:06:18.780 is partially helping to reinforce the dollar a little bit more

01:06:23.120 because without the perceived strength,

01:06:25.560 it's backed by oil, it's backed by military strength as well.

01:06:30.280 without a certain amount of perceived strength the trust in the dollar as a reserve currency lowers

01:06:38.280 yeah yeah which which which we're not going to go there but you know the liberals are thinking

01:06:45.240 of electing mark carney as a leader oh my god like when you want to talk about disastrous

01:06:50.680 monetary policy we're we're we're about to get worse so uh no no one from anywhere he's ever

01:06:57.080 done business recommends him as a as a leader he's being installed i don't think i think it's uh

01:07:05.240 i mean the way he's braiding around on the medias and everywhere else i think he's being installed

01:07:09.320 he's pretty confident but then i've seen confident doesn't it yeah but i've seen confident people uh

01:07:14.680 we witnessed it here two years ago i mean uh when i was in uh i was in calgary when the vote was

01:07:20.920 being counted for uh for our election and rachel notley and her team had a weird look on their face

01:07:27.480 like they were like whoa how'd this one slip away from us so uh here's my litmus test with carney

01:07:33.080 nobody just cat nobody who's an outsider who's never been in politics that people didn't like

01:07:41.160 think about like one month ago they didn't even talk about him um nobody gets a spot on the daily

01:07:48.040 show just like that yeah yeah like how do you that's not an accidental that's not a like

01:07:56.920 and he on the show he was claiming like oh i'm just an outsider i'm not in politics

01:08:02.200 so like that is that is not an that was almost yeah and that was almost rehearsed right like it

01:08:10.280 was it was rehearsed and a little bit awkward like pretending you know pretending to be friends and

01:08:15.000 everything else and i'm sure wasn't he isn't he going on there tonight again or soon like he's

01:08:21.240 he's going back for uh for another round yeah that's gonna be you know i'm i'm i'm genuinely

01:08:27.640 surprised well i'm not i mean i i think you know they they wanted carny he has he they're they're

01:08:36.120 using the narrative of fixing the economy but i'm kind of surprised that the liberals did not go

01:08:42.760 uh harder to try and get a female like they're officially the only uh um they're the only

01:08:51.480 federal party in canada who never had a female leader so but but then yeah they don't want they

01:08:58.120 don't want freeland she she burned those bridges and uh the other two are too young so you know

01:09:03.640 there's nobody else willing to step up it's uh just not yeah anyways hot hot take uh trudeau's

01:09:10.440 been feminine enough for the last decade that they're going to balance it out with a little

01:09:16.600 bit a little bit more masculinity than yeah so they picked mark carney yeah you know and and

01:09:24.520 actually it's it's off topic but we talked about it earlier when we were talking you made me think

01:09:29.080 of something like remember remember when trudeau came in like in 2015 and said we're back like

01:09:34.680 when we're talking about canada punching above its weight class like canada is so irrelevant

01:09:39.960 on the world stage right now that's the other sad thing that that that showed up in all the last

01:09:44.840 couple of weeks i mean i asked people i actually asked people in the u.s i have a little bit of

01:09:49.640 family in the u.s like are you guys talking about us not even they're not even talking about us like

01:09:55.080 trump's talking about us and so a bunch of people went like canada but we're not we're not on the

01:10:00.120 world stage man we're just gone like we we we have a lot of rebuilding to do a lot of rebuilding

01:10:06.360 yeah yeah canada has a uh um i've heard this from multiple people like expats and i've i've read

01:10:15.120 this online a lot that people have a like canadians have a very oversized uh like a completely a

01:10:22.660 complete misapprehension about how influential we think we are on the world stage like no one

01:10:27.540 gives a shit like no we're the place with the hockey and the maple syrup like that's that's

01:10:33.140 pretty much it watch the body language with trudeau and any like any gatherings of leaders and you

01:10:39.800 can see who they respect and there's a difference like you don't have to like somebody to either

01:10:45.160 think they're competent or respect the outcomes that they're able to produce and i feel like with

01:10:51.660 trump there's a underlying like maybe there's a little bit of hatred maybe there's a little bit

01:10:57.160 fear but there is a certain amount of respect for the energy behind that and you don't see the same

01:11:04.920 respect going to trudeau you don't see it with body language you don't see it with handshakes

01:11:09.320 or acknowledgements like nobody on the world stage respects him yeah i like it yeah like some

01:11:15.560 of the you know jordan peterson describes trudeau as peter pan syndrome or whatever i mean um yeah

01:11:22.520 like when you know when trudeau would prance around stage with his socks like who who told

01:11:28.360 him that's a good idea like even like i yeah that's that's what he was doing right like that's

01:11:33.560 that's not substance man you do that when you have no substance and and to me if you walk into

01:11:38.920 a room with the fancy socks you're literally signaling to the whole room i have no substance

01:11:45.240 i mean if you're the right right right person you could walk in and it just signals hey man

01:11:51.640 like i'm i got extreme strength but that that wasn't him like that's not him you know like

01:11:57.320 don cherry if don cherry walks into the room after a decade with his funny outfits we don't

01:12:03.080 we don't like you and i walking in a room dressed like john don cherry no it doesn't go for don it

01:12:09.080 does but um for most of us walking in a room with our fancy socks and sitting down cross-legged or

01:12:16.520 like nah god give it up oh yeah i can't wait till he's gone i honestly like i i mean i'm still not

01:12:23.480 celebrating when he announced he was resigning or intending to resign i i i had a brief moment of of

01:12:30.040 of uh happiness but i won't be happy until he's absolutely gone yeah and and and and that i mean

01:12:37.480 we're going all over the place tonight but um i'm i'm genuinely curious to see he hasn't said much

01:12:44.120 after a day a day later like it's been 24 hours since the tariffs um i'm still curious to see if

01:12:51.000 he's gonna do anything without reconvening government i think he's gonna wait there's

01:12:56.040 an interesting case right the center for the jace um what's the jcc whatever the yeah jccf or

01:13:04.040 something yeah yeah there is that for constitutional freedoms yeah they're they're they're um they're

01:13:10.280 hearing uh in the um you know they they get they get they got a hearing scheduled on the 13th and

01:13:17.560 14th next week to to to have uh they're going to try to get prorogation declared as uh illegal so

01:13:25.880 i think trudeau won't do anything until that and he's got his hands full right now there is that

01:13:30.280 um that um what exactly is going on with the um the emergency measures act there's a there's a

01:13:38.840 there's a there's a case in uh in ontario around that as well yeah he's got it is it currently

01:13:45.480 getting appealed the uh it's getting appealed he's trying to appeal it and uh and we'll see

01:13:53.400 where that goes but yeah what else has he got he's got a bunch of things going that's another

01:13:59.080 silly thing right like we are in a like think of the situation we just we just dodged a bullet i

01:14:06.680 think we dodged a bullet i mean it could have gotten ugly right like the trump could have said

01:14:10.120 now tariffs are going blah blah blah and and we dodged a bullet because right now we have nobody in

01:14:17.000 parliament and and in our largest province ontario is also in the middle of an election like god what

01:14:24.120 uh like we're so vulnerable right now it's insane but we're lucky we we dodged a bullet well that's

01:14:30.200 it and maybe to like you know we've been going at it here for about an hour and 15 maybe to just sort

01:14:35.640 you know some final thoughts on the tariffs is you know if if i were in trump's shoes i mean like

01:14:42.800 this is a i'm actually surprised that he did decide to to give the break like maybe maybe it

01:14:48.860 has to do with what mexico you know agreed to earlier and earlier in the day yesterday maybe

01:14:53.520 he was feeling generous i don't know but like if i'm trump looking at that canada right now i mean

01:14:58.720 we are a we're a leaderless government out of session country like this is that's prime

01:15:06.100 vulnerability like i mean if you if you want to take a view that the you know when trump talks

01:15:12.080 about you know he's said it four or five times now in you know making canada the 51st state like

01:15:16.680 if you want to you know see from it from his perspective of like if you're thinking about

01:15:21.280 vulnerabilities from maybe china or russia or you know asian you know influence um we're we're

01:15:28.700 a liability and we're we're their biggest neighbor we're a porous border i mean i get it i get it if

01:15:35.300 you want to be tough on us because like we're we're kind of a joke right now yeah yeah okay

01:15:40.900 yeah i thought you were going to say maybe cut us some slack you know i'd be like

01:15:43.940 that's where i thought you were going where you'd you'd pounce you know if you're if you're looking

01:15:49.420 at it from a you know a cutthroat ceo perspective like trump might like this is when you're when

01:15:55.320 your enemies that are you're not your enemy but when your adversary in some ways at their weakest

01:15:59.980 point that's when you pounce we might have been too weak he might have said uh this is not even

01:16:04.240 fair game i'm gonna i'm gonna give you some slack i mean took pity yeah he took a bit of pity on us

01:16:09.380 on the flip side uh i looked at what he accomplished in the last three weeks i'm like

01:16:15.400 bravo trump like bravo right i mean you got into power we did 100 executive orders maybe more than

01:16:22.760 100 um you know you you you signed out of the the paris accord you fired anybody in a dei position

01:16:30.520 you you sent troops at the border you got mexico to cave you got panama to cave you got colombia

01:16:37.080 colombia sent their own jets to come and get their elite and bring them back you sent the plane to

01:16:42.360 i still don't know why he sent the plane to um he sent his son to um greenland i think that was

01:16:47.640 part of the showmanship because yeah i'm pretty sure the guys in greenland are like isn't that

01:16:51.880 trump's plane what's it doing here right like that was just showmanship and who's that guy getting

01:16:56.280 off it yeah he got us to cave like and i asked that question legitimately i'm like wow he accomplished

01:17:02.600 a whole bunch of things now he's got 30 days i think and i said is he gonna go golfing for 30

01:17:08.440 days or is he now just gonna turn his attention to the really good stuff right because like we

01:17:13.240 said earlier like he sent a clear message to everybody you know i'm willing to do this to my

01:17:19.080 neighbors think what i'll do to you so i think now in the next 30 days he's gonna go he's gonna go

01:17:25.640 get a peace accord in ukraine he's gonna go sign a deal with germany for lng

01:17:30.360 he's gonna i don't know reverse brexit he's gonna get putin to to shake hands with whatever he's

01:17:37.160 gonna get china to sign a deal he's gonna well they just bought gaza he's gonna raise the titanic

01:17:43.720 and put it in a museum so we can all go look at it and uh like like you know what's left to do

01:17:49.720 trump like he's just gonna like bravo man like bravo actually i love what he did in the last

01:17:55.080 couple of weeks because even even this week i still had people saying like what do you expect

01:18:00.360 us to do things take time i'm like okay stop with that excuse look at what that guy just did yeah

01:18:06.360 like yeah you know doesn't take that much time no no it only takes time if you don't have the

01:18:12.040 the political will to get it done faster or it was able to do the things within the context and he

01:18:18.280 acted upon the things that he was able to change so that that's the key is like if you can put

01:18:25.000 something in motion he just used the executive order as that tool and every president does when

01:18:30.440 they come in so he just he was very decisive and very he quick acting on those and he doesn't have

01:18:37.760 to worry about you know he's he's not at uh you know oh no he's not gonna be popular by the end

01:18:42.700 of his term who gives a shit he's not up for re-election so i mean he he wants a little bit

01:18:46.760 of legacy and i was thinking about that too like is his leg like if he if he gets ukraine and russia

01:18:53.180 to sign a piece of court that's legacy if you you like do you need a chunk of territory like do you

01:18:58.820 need to say i added the 51st state tell you what trump work with elon and land more americans on

01:19:05.840 the moon man and then land americans on mars on your turn boom legacy solved like done go go with

01:19:12.840 that one go with that one yeah leave us alone making that speech right oh yeah hey we're gonna

01:19:17.620 get you talking about the moon again and then we're gonna be another half hour and yeah you

01:19:21.740 know that we're not going down there yeah we're good we can do this every week almost i love

01:19:26.800 talking to you guys this is awesome let's do it man that's awesome well hey marty man always a

01:19:31.660 pleasure always such a pleasure we really appreciate you taking the time uh this is great

01:19:35.720 i think uh i mean we have a you know we're at about 3,700 people watching here and and they're

01:19:41.500 about 3,600 of them are for you so that's uh people are gonna get tired of hearing me i might

01:19:46.960 need to i might need to go on a vacation somewhere i've been on a lot of yeah well hopefully we

01:19:52.260 we got you down a few rabbit holes that you wouldn't um get down just normally so cool

01:19:58.900 awesome hey let's do this in a month anyways let's do it put it in the calendar in a month

01:20:04.980 when the deadline is up uh we'll have lots to talk about i'm sure yes we will yes we will

01:20:10.220 all right cool thanks everyone for watching appreciate the comments cheers everyone cheers

The Critical Compass Podcast - February 05, 2025

Understanding The Tariffs with Martyupnorth

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