The Jordan B. Peterson Podcast - 511. Canada's Next Prime Minister

00:00:00.000 You take the total business investment of the United States

00:00:02.680 divided by the total number of workers in America, it's 28 grand.

00:00:05.540 In Canada, it's 15 grand.

00:00:07.160 The Canadian worker gets about 55 cents for every dollar of his American,

00:00:11.240 and they're both measured in USD.

00:00:12.780 In Vancouver, more money goes to bureaucrats

00:00:15.160 than goes to the carpenters, electricians, and plumbers who build the place.

00:00:18.940 And to add insult to injury,

00:00:20.540 tradespeople who build homes can't afford to live in them.

00:00:23.160 Why is it that we're still importing oil

00:00:25.080 when we've got the world's third biggest supply?

00:00:27.000 Why is it we can't export our natural gas?

00:00:29.520 I think that was perhaps the single stupidest thing I ever heard a politician say.

00:00:33.960 Your federal government spent $6,000 of your family's money going over their budget.

00:00:40.840 They've squeezed the taxpayer out of every last dime,

00:00:44.000 and they're still $62 billion short.

00:00:46.800 It's worse than that because I suspect that the true picture

00:00:49.940 is a lot more dismal than we know.

00:00:52.440 Okay, so that's going to be dumped on you sometime in the next year.

00:00:55.840 They get the party, I get the hangover.

00:00:57.860 Eight years from now, what does it look like?

00:01:14.860 Hello, everybody.

00:01:15.920 I had the opportunity and the privilege today to speak with Mr. Pierre Polyev,

00:01:22.140 who is the leader of Canada's Federal Conservative Party,

00:01:26.820 but also, barring catastrophe and God willing,

00:01:30.960 Canada's next Prime Minister.

00:01:33.440 A transition in power in this country

00:01:35.760 is likely to take place sometime between March and October or November of 2025.

00:01:43.720 And it appears very probable that Pierre Polyev is the heir presumptive

00:01:49.900 and will be the next Prime Minister of Canada.

00:01:52.360 And so, I talked to Mr. Polyev two and a half years ago,

00:01:57.120 which was quite shocking to me.

00:01:59.160 I thought it had been more recently than that.

00:02:01.700 And a lot has transpired in the meantime.

00:02:06.240 What did I talk about with Pierre?

00:02:08.280 Well, I think mostly what I did was give Canadians

00:02:11.640 and people on the international side a chance to see who this man is

00:02:15.900 in an hour and a half of discussion

00:02:18.160 and the extra half an hour on the Daily Wire side.

00:02:20.900 You have enough time to get a sense of how someone responds

00:02:24.980 spontaneously and emotionally and cognitively

00:02:29.440 to complex and challenging questions

00:02:32.080 in a manner that's not rehearsed.

00:02:34.280 That's the huge advantage of the podcast format.

00:02:37.360 We talked about all the stories that Mr. Polyev has heard

00:02:42.360 in his thousands of event interactions with Canadians

00:02:47.420 in industrial settings, in manufacturing settings,

00:02:51.540 in academic settings,

00:02:53.180 so that he could inform himself about the true situation

00:02:57.300 that's facing Canadians struggling to make ends meet

00:03:00.580 despite their best efforts now,

00:03:03.220 which is a dismal reality in Canada

00:03:05.480 with its excessive housing prices and diminishing economy.

00:03:09.840 Most importantly, perhaps, what is his vision of the future

00:03:13.800 that both threatens and provides opportunity for Canadians?

00:03:18.380 How is it possible for the citizens of this great country

00:03:21.780 to dig themselves out of the malaise and pit

00:03:25.280 that has been dug for them and by them over the last nine years?

00:03:29.760 And what could be done to remove the impediments

00:03:33.220 such that this country could become the dynamic industrial powerhouse

00:03:37.520 that it certainly could easily become?

00:03:40.840 So join us for all that.

00:03:44.080 So, sir, it's been almost two and a half years

00:03:47.360 since we sat down to talk the time before.

00:03:51.200 So I guess the first thing I'd like to know is

00:03:53.720 what have you been doing during that time?

00:03:56.700 I'd like to hear about your day-to-day schedule

00:04:01.360 and your week-to-week schedule.

00:04:02.760 Like, lay out your job.

00:04:04.440 Basically, we have two parts to my professional life.

00:04:08.820 It's very bifurcated.

00:04:11.220 There's the Parliament Hill side,

00:04:13.220 which is early morning meeting with my leadership team,

00:04:16.240 House leader, Deputy Leader, WIP, etc.,

00:04:19.660 to plan out the day,

00:04:21.700 the battle plan for our parliamentary committees,

00:04:24.600 question period, etc.

00:04:25.740 That is punctuated by one weekly caucus meeting

00:04:30.420 and just the daily prosecution of the government,

00:04:33.220 which is the quintessential role of an opposition leader.

00:04:37.020 And then the other part to my life is touring.

00:04:40.920 I asked my assistant today how many events we had done

00:04:44.060 over the last year,

00:04:45.540 and he said it was exactly 600.

00:04:48.660 I mean, a few weeks ago, it was 570-something.

00:04:51.120 So we've done 600 events,

00:04:54.100 and those are like tours at mills,

00:04:58.880 mines, factories, farms, high-tech facilities.

00:05:04.360 And we tour in, see how the place operates.

00:05:07.380 Then I give a short speech, do a question and answer,

00:05:09.940 and then I just mull about and shake hands with the workers

00:05:12.500 for 25 minutes to an hour,

00:05:15.840 and then I go on to the next stop and do it all over again.

00:05:17.840 And we did that in nine provinces

00:05:21.860 and two territories this year.

00:05:25.560 And so that's a summary of my workload

00:05:30.340 and work plan to do my job.

00:05:34.420 And you said 600 events.

00:05:36.320 You made illusion when we were driving over here

00:05:38.400 that the weekends are particularly packed,

00:05:40.860 that you'll do like 10 events on Saturday or Sunday.

00:05:43.700 Right.

00:05:44.060 And so a typical event,

00:05:47.020 what do you enjoy about the events?

00:05:48.340 Why are they useful?

00:05:49.260 And what do you learn?

00:05:50.220 Well, first of all,

00:05:50.920 you get a practical insight

00:05:55.160 into how the country actually works.

00:05:58.020 Like who makes the widgets?

00:06:01.700 How do those get made?

00:06:03.040 How does our supply chain come together?

00:06:07.060 What skill sets do these incredible workers have?

00:06:10.500 What background qualified them to be a licensed welder

00:06:15.400 or to run a CNC machine

00:06:18.320 or to be the CEO of a 300-person company

00:06:22.140 that supplies parts into the American economy?

00:06:28.600 And that practical insight, I think,

00:06:31.240 is important if you want to lead a government

00:06:33.360 and a national economy.

00:06:36.160 So you learn a lot.

00:06:37.460 And then I get to hear the stories

00:06:39.820 of the people who work in these places

00:06:42.380 and get their feedback on what they want,

00:06:45.260 what their dreams and aspirations are.

00:06:48.220 Yeah, I want to turn to that in some detail.

00:06:51.320 Let me ask you about the parliamentary side too

00:06:53.400 because I think it'd be useful for people to know

00:06:56.000 how you prepare for what you do in parliament.

00:07:01.460 It isn't obvious to me that people exactly understand

00:07:05.860 the business of being in opposition

00:07:07.820 at a really practical level.

00:07:10.120 What do you see as your major function?

00:07:13.840 I know you're there to push back against the government

00:07:17.620 and to question and criticize,

00:07:19.580 but it isn't obvious how you go about preparing for that

00:07:22.960 or how you decide what issues you're going to focus on

00:07:25.280 and how you distribute the responsibilities

00:07:27.340 among your caucus and your broader team.

00:07:31.620 So, you know, there's a lot of discretion.

00:07:34.780 You make up your mind when you wake up in the morning.

00:07:37.200 You read the news.

00:07:38.560 I have a team that gives me a full briefing

00:07:41.520 of all the published news from the mainstream media,

00:07:44.940 all the news from the independent and ethnic media,

00:07:47.980 all a download of the entire social media landscape.

00:07:51.200 And then I respond to that by saying,

00:07:55.180 well, I think these are the,

00:07:56.040 we're going to, we have roughly 25 questions we can ask.

00:07:58.760 And I'll say, well, I want 10 on inflation

00:08:01.200 and three on violent crime

00:08:04.320 and four on whatever the subject happens to be in the day.

00:08:09.820 And I want this committee to focus on this today

00:08:12.120 and that committee to focus on that today.

00:08:13.860 And then our teams go out and we do it.

00:08:17.220 And the, I've been very blessed

00:08:20.220 because my caucus is extremely talented

00:08:22.320 and they don't need a lot of direction,

00:08:23.880 but we've been acting in unison.

00:08:26.540 And I think that's why our message

00:08:27.880 is pumping out so clearly to people.

00:08:29.940 It's not a cacophony of sound.

00:08:32.160 It's a clear drumbeat.

00:08:34.300 And that's why people are hearing

00:08:36.620 and appreciating our message.

00:08:38.540 So you feel that your party's well-organized at the moment?

00:08:41.000 Extremely well-organized.

00:08:41.860 Okay, so what's your evidence for that?

00:08:43.360 Well, we've, by every measure,

00:08:45.460 by every statistical measure,

00:08:48.080 we're stronger than any political party has been

00:08:51.080 in, well, maybe in my lifetime, objectively speaking.

00:08:55.700 Memberships, fundraising, poll numbers.

00:08:59.340 Right, so people are positive in consequence of that.

00:09:02.740 So it's a lot easier to lead an organization

00:09:05.460 when it's successful.

00:09:07.220 Obviously, people are much more enthusiastic.

00:09:09.520 Why do you think you're in that position?

00:09:12.140 What's going on that's setting the stage for that?

00:09:15.220 And I don't just mean the failures on the Trudeau side.

00:09:18.720 I mean, what do you think you guys are doing right?

00:09:21.500 Well, we have a clearer mission statement.

00:09:23.600 And people know exactly why we're in this.

00:09:26.420 You know, whenever someone asks me,

00:09:28.100 they say, I'm thinking of running for parliament

00:09:31.020 or for mayor or some other political position.

00:09:34.460 What's your advice?

00:09:35.540 Well, I say, well, before I get to the advice,

00:09:37.100 I have a very simple question.

00:09:38.540 Why do you want this job?

00:09:40.400 And it might seem like a simplistic question,

00:09:43.820 but it's actually the most important question in life.

00:09:46.800 Why?

00:09:47.360 Why are you doing what you're doing?

00:09:48.820 And our answer to that is to bring back

00:09:53.160 the Canadian promise that anyone who works hard

00:09:56.840 gets a great paycheck and a pension

00:10:00.380 that buys them good food and a nice home

00:10:03.540 and a safe neighborhood,

00:10:04.400 that anyone from anywhere can do anything

00:10:06.940 and that people are in charge of their own lives.

00:10:09.500 That's effectively what we want to deliver.

00:10:11.520 So every day when I'm in parliament...

00:10:13.260 So that's a very local vision in a sense, right?

00:10:16.200 It doesn't have the grandiosity

00:10:18.340 of an international utopian vision, for example.

00:10:21.080 It's very down to earth.

00:10:22.220 I think people are sick and tired of grandiosity.

00:10:24.900 In fact, I think there's something grand

00:10:27.340 about a family that can go on a nice road trip

00:10:31.240 and share stories and build lasting memories

00:10:34.100 that the kids will remember when they're 85 years old.

00:10:37.440 Despite producing all that nasty carbon dioxide.

00:10:40.040 That's right.

00:10:40.700 But I think those things are grand.

00:10:42.380 And I think with the problem we've had in this country

00:10:44.240 and in all of the countries that have been afflicted

00:10:46.720 by this horrendous utopian wokeism

00:10:50.600 is that it's been focused on the grandiosity

00:10:55.300 of the leadership of the egotistical personalities on top

00:10:59.580 and not the things that are grand and great

00:11:01.540 about the common people.

00:11:04.120 And that is another reason why I think we're doing very well.

00:11:06.840 People are saying, finally, there's someone who's focused

00:11:08.720 on letting me take back control of my own life

00:11:12.120 and create a great future for my family.

00:11:16.980 And so that is, to answer your question,

00:11:20.020 one of the reasons why we've had such incredible success

00:11:22.880 over the last two years.

00:11:24.520 Okay, so there's a lot of distrust, generally speaking,

00:11:29.620 in relationship to, I would say,

00:11:33.240 establishment organizations and political elites

00:11:36.920 all across the West.

00:11:39.000 A lot of that well-earned.

00:11:42.280 Why should Canadians believe that the vision

00:11:45.500 that you just laid out is something

00:11:47.040 that you hold personally dear

00:11:48.800 and not merely, what would you say,

00:11:51.560 a set of carefully calculated campaign slogans?

00:11:55.020 Well, I look back at everything I've done

00:11:57.380 for my entire political career

00:11:59.300 to the time I was a teenager.

00:12:01.820 You know, some people even dug up

00:12:03.520 my old university essays,

00:12:07.160 and I've been saying precisely the same thing

00:12:09.440 the entire time.

00:12:11.760 You know, when I was 20,

00:12:12.820 I wrote an essay as prime minister, I would,

00:12:14.920 and the title was Building Canada on Freedom.

00:12:17.200 The entire piece was about making the government small

00:12:19.700 and maximizing personal freedom.

00:12:22.660 So that's basically what I'm doing now.

00:12:24.700 So you have consistency going for you.

00:12:27.040 Well, there were things, when I launched

00:12:27.560 my leadership race, I literally had the same language

00:12:30.440 in my leadership launch speech

00:12:32.460 that I had put in that essay 22 or 23 years earlier.

00:12:38.320 And when I was part of the Harper government,

00:12:40.660 we basically fought for and did the same things

00:12:44.340 then that I'm proposing to do now.

00:12:46.460 So as much as you can be assured of anything

00:12:51.660 any political leader says,

00:12:53.300 I've got evidence to back it up.

00:12:55.760 Okay, so one of the things that's been very distressing

00:12:58.840 to observe, I would say,

00:13:00.440 and I'm going to use the UK as an example.

00:13:02.640 I mean, the UK had 14 straight years

00:13:05.200 of conservative government.

00:13:07.020 Yeah.

00:13:07.520 And, you know, as far as I'm concerned,

00:13:09.420 thank God for that, because it could have been labor.

00:13:11.180 But having said that, they fell 100% prey

00:13:16.000 to the blandishments of the net zero types

00:13:18.100 and brought forward really a catastrophic energy policy.

00:13:21.660 And the UK is suffering dreadfully for that.

00:13:24.500 And their immigration policy, I mean,

00:13:26.620 Keir Starmer apologized for it,

00:13:28.980 which was something remarkable to behold.

00:13:30.800 And so did Kemi Badnock,

00:13:32.480 who now runs the Conservatives in the UK.

00:13:34.440 Now, the reason I'm bringing them up as an example

00:13:36.420 is because, well, they were a conservative government,

00:13:39.500 and they certainly didn't govern by anything

00:13:41.400 approximating conservative principles.

00:13:43.200 And so how do you feel about the probability

00:13:48.560 that if the Conservatives in Canada take power,

00:13:51.320 that they'll be enticed into this global utopian delusion

00:13:55.680 that seems to have enveloped so many leaders,

00:13:59.020 kind of regardless of their political stripe?

00:14:01.400 What do you think, if anything,

00:14:03.100 can inoculate you or has inoculated you against that?

00:14:07.660 I know better.

00:14:10.080 Well, elaborate.

00:14:11.000 What do you mean?

00:14:11.800 Well, I'm not going to do that.

00:14:13.200 And it will be hard because the temptation will be,

00:14:15.900 this is the mistake that conservative parties

00:14:18.000 around the world have made countless times.

00:14:20.400 They think, well, anybody who's got a conservative mindset

00:14:23.960 is already voting for me,

00:14:25.200 so I can go off and chase the ideas of my political opponents.

00:14:30.580 And then everyone will love me

00:14:31.840 because I'll have the Conservatives

00:14:33.480 due to the fact that I have the name Conservative.

00:14:35.500 And then I'll have all these other people

00:14:38.000 because I've embraced their contrary direction.

00:14:41.540 And in the short term, it works

00:14:44.540 because you're managed to have all of these people under,

00:14:48.860 and all of the different political ideologies

00:14:53.240 captured in one tent.

00:14:54.500 But the problem happens when the policies are a disaster.

00:14:58.200 And then people wake up and go,

00:15:00.660 oh my God, my taxes are now up,

00:15:02.660 the inflation is out of control,

00:15:04.300 the deficit is spiraling,

00:15:05.520 there's crime on the streets.

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00:15:37.400 So, does the temptation exist

00:15:41.280 to try and take on the political policies

00:15:45.640 of the socialists in the short term?

00:15:51.200 Sure, but it's one that I will fiercely resist

00:15:53.720 because I know that by the fourth year of my mandate,

00:15:57.540 people would be enraged

00:15:58.820 because their lives would be even worse.

00:16:01.060 So, it will be tough though.

00:16:03.120 Like, it's going to be a trade-off.

00:16:03.960 You see the temptation.

00:16:05.080 I mean, I think many leaders fall prey

00:16:07.760 to the temptation to shine on the international stage.

00:16:11.500 Right?

00:16:12.020 I mean, I can't remember who it was in the UK.

00:16:14.720 I believe it was the previous Labour Party leader

00:16:17.480 who said that decisions in Westminster

00:16:19.800 were essentially irrelevant

00:16:21.140 because all the important things

00:16:22.740 were happening internationally.

00:16:24.600 Right?

00:16:24.800 And so, if people are involved in status climbing

00:16:28.040 and they hit the national pinnacle,

00:16:29.880 as always,

00:16:30.480 then there's the international world to,

00:16:32.340 you know, what would you say,

00:16:33.800 to dominate or to impress.

00:16:36.300 And that's, I think,

00:16:37.720 that the power of that temptation

00:16:39.580 or even of that peer pressure

00:16:40.880 can't be underestimated.

00:16:43.080 So, okay.

00:16:43.740 So, now you've been,

00:16:45.180 these events,

00:16:46.020 these 600 events that you've gone to,

00:16:48.400 so let's say that's something approximating

00:16:50.560 1,000 to 1,200 since we last talked.

00:16:52.800 You spent a lot of time speaking to

00:16:56.220 and I presume listening to ordinary Canadians.

00:16:59.340 I heard you made a speech in the,

00:17:00.660 heard you make a speech in the House of Commons

00:17:02.980 that went viral in the last couple of weeks

00:17:04.900 and you spoke very persuasively

00:17:07.100 on behalf of working class Canadians.

00:17:09.260 And so, tell us what you've,

00:17:11.760 tell us what you've learned,

00:17:13.440 what you've heard over the last couple of years

00:17:15.220 and how that's shaped you and changed you,

00:17:17.360 let's say,

00:17:17.820 as you've moved from,

00:17:19.860 well, as you've shifted your position

00:17:22.520 up the political hierarchy

00:17:23.840 and are poised really likely

00:17:26.420 to take the reins in Canada

00:17:27.740 at some point in the next year.

00:17:29.500 You've listened to all these people

00:17:30.940 and so what have you learned

00:17:32.080 and what has it made you convinced of,

00:17:36.360 let's say?

00:17:37.720 Well, first of all,

00:17:39.320 people,

00:17:40.940 there's the bad news and the good news.

00:17:42.420 The bad news is that people feel like

00:17:44.960 they've done absolutely everything right

00:17:47.720 and their lives are trapped.

00:17:52.320 They, you know,

00:17:53.300 young people say,

00:17:54.880 look, okay,

00:17:55.400 I went through,

00:17:56.180 I got an education,

00:17:58.680 I work nonstop

00:17:59.960 and I have made the calculation

00:18:02.780 that there is no mathematical path

00:18:05.620 for me to own a house.

00:18:07.240 It's just not possible.

00:18:08.680 In Toronto here, for example,

00:18:10.120 if you take the average income

00:18:12.360 and the average house price,

00:18:13.960 it would take you 29 years

00:18:16.560 to save up for a down payment.

00:18:18.880 So, you know,

00:18:19.780 if you're a...

00:18:21.040 For a down payment.

00:18:21.740 For a down payment,

00:18:22.560 not to pay it off,

00:18:23.380 forget paying it off.

00:18:25.600 And so if you're a young woman

00:18:27.060 who's got a biological clock,

00:18:28.900 obviously,

00:18:29.420 well, do the math.

00:18:30.980 You know,

00:18:31.320 you start off at,

00:18:32.380 let's say you're 25,

00:18:34.340 well,

00:18:34.980 you're going to be in your 50s

00:18:36.460 before you can afford

00:18:37.160 the average house.

00:18:38.300 So how are you ever going to have kids?

00:18:39.820 And that's about the time

00:18:42.700 when people think about downsizing

00:18:44.320 from their house.

00:18:45.000 That's what they used to think

00:18:46.160 about downsizing.

00:18:47.260 And, you know,

00:18:47.660 they usually had their house

00:18:48.800 paid off back

00:18:49.720 by the time they were

00:18:51.260 in their early 50s.

00:18:52.240 So just to show

00:18:53.280 how dreadfully things have worsened,

00:18:56.660 that's the picture of the youth.

00:18:59.420 Then there's the kind of middle-aged people

00:19:01.440 who do have kids already

00:19:02.800 and they're terrified

00:19:03.620 of the dangers in the streets.

00:19:05.500 I mean,

00:19:05.720 our streets are just being overtaken

00:19:07.100 by drugs and gangsterism

00:19:08.780 and other dangers

00:19:12.180 and they want safety again.

00:19:15.560 And then you have business owners

00:19:17.240 that are saying

00:19:17.840 there's just no way

00:19:18.900 to continue to compete in Canada.

00:19:20.860 We have to look at moving

00:19:23.160 and that means

00:19:24.260 the next 200 jobs we create

00:19:26.220 is going to be in Ohio or Florida

00:19:28.880 or some other place than Canada.

00:19:31.920 That's the kind of overview

00:19:33.500 that I get.

00:19:35.120 The good news, though,

00:19:36.280 is that people do now have some hope.

00:19:39.700 They think that things

00:19:40.520 can be turned around

00:19:41.540 and they have clearly

00:19:43.540 and correctly diagnosed the problem,

00:19:45.960 which is entirely political.

00:19:48.180 There is no physical geographic

00:19:51.600 reason why Canada

00:19:54.720 should struggle to supply people

00:19:57.760 with great opportunities

00:19:59.180 of home ownership

00:20:00.700 and family formation.

00:20:03.360 In fact,

00:20:03.720 we should be the richest country

00:20:05.060 in the world

00:20:05.760 and people increasingly know that

00:20:09.160 and they know that

00:20:09.960 if we make the right,

00:20:11.420 albeit difficult,

00:20:12.500 political decisions,

00:20:14.360 that they will once again

00:20:15.620 be able to do

00:20:16.320 as their parents did,

00:20:17.460 which is to say,

00:20:18.200 get a house,

00:20:18.860 start a family,

00:20:20.240 live in a safe neighborhood,

00:20:21.960 raise their kids

00:20:22.720 with good traditional values.

00:20:25.220 That's another thing I'm finding

00:20:26.440 is that a lot of people

00:20:27.400 are really getting back

00:20:29.560 to those values

00:20:30.880 that we were told

00:20:31.800 were unfashionable.

00:20:32.720 young people today,

00:20:36.440 they want to have families.

00:20:38.480 Yeah, well,

00:20:38.780 there's been a real conservative swing,

00:20:40.460 especially among young men.

00:20:42.520 Well, no wonder

00:20:43.180 because they've been demonized

00:20:44.520 for, what,

00:20:45.040 30 straight years

00:20:46.040 for every aspect

00:20:47.040 of their masculinity

00:20:48.000 from their play preferences

00:20:49.380 to their proclivity

00:20:51.000 to destroy the planet

00:20:52.120 with their ambition.

00:20:53.680 And so there's definitely

00:20:54.640 an opportunity there

00:20:56.720 and clearly your political party

00:20:59.480 and you are capitalizing on that,

00:21:01.320 that you have the support

00:21:02.440 from young people increasingly

00:21:05.380 right across Canada.

00:21:06.460 We are winning among youth.

00:21:07.920 In fact,

00:21:08.300 the youth were the first

00:21:09.100 to come on board with me.

00:21:10.640 My rallies were overwhelmingly

00:21:12.560 populated with youth,

00:21:14.280 which is not normal

00:21:15.360 for conservatives.

00:21:16.080 Right, right.

00:21:16.840 And the reason is

00:21:17.680 is because in your youth,

00:21:19.600 of course,

00:21:20.160 as you write it,

00:21:21.720 young people want to have

00:21:22.820 the adventure of their lives.

00:21:24.100 They want to go

00:21:24.820 into the wilderness

00:21:27.380 and earn a living

00:21:29.940 and bring it home

00:21:30.960 and raise kids

00:21:32.180 and have a purpose

00:21:33.780 that's bigger

00:21:34.480 than just short-termism.

00:21:39.200 And I think,

00:21:40.320 you know,

00:21:41.020 20 years ago,

00:21:42.580 the socialists

00:21:43.420 would go to university campuses

00:21:44.780 and say,

00:21:45.280 vote for us

00:21:45.840 and we'll let you be a kid forever.

00:21:48.200 We'll give you free stuff

00:21:49.700 and you'll never have to get a job.

00:21:52.840 And that was very temporarily popular

00:21:54.380 across the Western world.

00:21:56.980 But then young people woke up

00:21:58.340 and found out

00:21:58.860 this was not a utopia.

00:22:00.380 It was a total dystopia.

00:22:02.120 And that all the things

00:22:03.200 that they really valued

00:22:04.400 and wanted for their lives

00:22:05.680 were impossible

00:22:06.420 when they were being

00:22:07.840 borne down upon

00:22:08.940 by this massive state.

00:22:11.380 They've learned that help

00:22:14.480 is the sunny side of control.

00:22:17.440 And so now young people are,

00:22:20.760 and I love this.

00:22:21.480 This is great news.

00:22:22.380 Our young people are saying,

00:22:23.360 I want to start a business.

00:22:24.520 I want to invent something.

00:22:25.720 I want to create things.

00:22:28.040 I want to become a tradesman.

00:22:30.500 And then when I get good enough at that,

00:22:33.120 I want to hire five other tradesmen.

00:22:35.180 And by the time I retire,

00:22:36.400 I want to have 300 employees.

00:22:38.000 And then I want to give that company

00:22:39.300 to my kids.

00:22:40.840 These are the stories that I hear

00:22:42.400 when I go out and about in Canada.

00:22:44.760 And the great news is

00:22:46.460 we can have all those things.

00:22:48.220 That's the optimistic message

00:22:49.820 that I have for people.

00:22:50.960 But we've got a limitless supply

00:22:54.320 of resources here.

00:22:55.720 We're like a cornucopia.

00:22:57.200 You know, the third biggest supply of oil,

00:22:59.500 fifth biggest supply of natural gas,

00:23:01.100 biggest supply of uranium,

00:23:02.520 fifth biggest supply of lithium.

00:23:04.820 We've got not one, not two, not three,

00:23:06.660 but four coasts to tidewater.

00:23:09.840 Right.

00:23:10.040 We live next to the biggest military

00:23:14.680 and economic superpower

00:23:16.340 the world has ever seen.

00:23:17.740 We have a highly educated population

00:23:19.840 and the best system of system of government

00:23:23.820 in the history of the world,

00:23:25.660 the parliamentary system.

00:23:27.400 Not the best government,

00:23:28.680 but the best system of government.

00:23:30.020 So all these massive advantages,

00:23:32.580 we just need to unleash that potential.

00:23:35.040 Right.

00:23:35.220 So the unhappiness that you're seeing

00:23:36.960 among young people

00:23:37.800 seems to me to be a consequence

00:23:39.760 of the mismatch

00:23:40.840 between the opportunity

00:23:41.920 they see right in front of them

00:23:43.540 and their frustration

00:23:44.840 at the fact that that opportunity

00:23:46.460 can't be capitalized on.

00:23:48.160 Even if they're contributing

00:23:49.340 their fair share.

00:23:51.460 And they're definitely doing their part.

00:23:53.580 Like they really are.

00:23:54.800 You know, there's often,

00:23:55.680 it's always been a habit

00:23:57.280 of older people to say,

00:23:59.100 you know,

00:23:59.420 oh, the youth these days.

00:24:00.920 When I look at the young people today,

00:24:02.760 all they do is work.

00:24:05.480 I am astonished

00:24:06.540 when I meet young university students,

00:24:08.740 how much they work

00:24:10.620 outside of their studies

00:24:12.220 just to scrape by.

00:24:14.600 How many hours of labor

00:24:16.280 they do as waitresses

00:24:18.480 or in another service job

00:24:21.320 so that they can pay their bills.

00:24:22.660 Way more than when I was a student,

00:24:24.600 you know, 25 years ago.

00:24:25.780 Well, when I was a kid in Alberta,

00:24:28.200 I could work in the summer

00:24:29.500 and I didn't work on the rigs.

00:24:30.760 So I didn't have one of the high paying jobs.

00:24:32.820 I had a more,

00:24:34.400 what would you say,

00:24:35.200 a job that was secondarily associated

00:24:37.020 with the resource economy.

00:24:39.280 I could make enough money

00:24:40.660 in the summer,

00:24:41.560 in two months,

00:24:42.920 four months,

00:24:43.600 to pay for the tuition

00:24:45.880 and my entire year's rent.

00:24:47.820 Of course.

00:24:48.440 Right, right, right.

00:24:49.460 And now these kids

00:24:51.600 are working 20, 30 hours a week

00:24:54.280 in addition to a full course load.

00:24:56.760 And they look exhausted.

00:24:58.400 When I meet young people today,

00:24:59.540 they are exhausted.

00:25:00.260 They have bags under their eyes

00:25:01.700 and all they do is work.

00:25:03.480 And the worst part about it

00:25:04.840 is not that they're working all the time.

00:25:06.620 It's that they don't see a light

00:25:07.720 at the end of the tunnel.

00:25:11.760 Well, that's a genuine breakdown

00:25:13.400 of the social contract, right?

00:25:15.100 Absolutely.

00:25:15.480 Because the deal, like you said,

00:25:16.260 the deal was supposed to be

00:25:17.260 if you do things right,

00:25:19.040 you'll be rewarded.

00:25:20.240 Yes.

00:25:20.680 Right.

00:25:21.000 And that's the intergenerational compact,

00:25:24.220 essentially.

00:25:24.620 And there isn't anything

00:25:26.000 that defines hopelessness

00:25:27.740 more clearly

00:25:29.120 than seeing that

00:25:31.120 if you do all the right things,

00:25:32.540 the pathway is paved to failure.

00:25:34.560 Right.

00:25:34.980 Right.

00:25:35.340 So that's so demoralizing.

00:25:37.020 And, you know,

00:25:37.640 what's even worse about that

00:25:38.960 is that the people

00:25:40.060 who are most demoralized by that

00:25:41.860 are precisely the people

00:25:42.900 who would be most productive

00:25:43.940 and hardworking.

00:25:44.980 Because the ones

00:25:45.700 that are sponging along,

00:25:46.880 they don't give a damn anyways, right?

00:25:48.660 They're not losing

00:25:49.660 any glorious future

00:25:50.860 and they're not sacrificing

00:25:51.980 for it anyways.

00:25:52.820 But it's really not good

00:25:54.680 when your economy is set up

00:25:55.980 to punish people

00:25:56.760 who are entrepreneurial

00:25:57.540 and hardworking.

00:25:58.780 And that's what it does right now.

00:25:59.760 Okay.

00:25:59.980 So let's delve into that

00:26:01.860 a little bit.

00:26:02.420 So I've been tracking

00:26:04.620 economic statistics

00:26:06.700 in relationship to Canada

00:26:08.100 and sort of left me

00:26:09.780 open-mouthed in amazement

00:26:11.160 at our dismal condition.

00:26:13.480 So from what I've been able

00:26:15.000 to understand,

00:26:15.740 the richest people per capita

00:26:18.560 in terms of GDP per person,

00:26:22.240 gross domestic product per person,

00:26:24.560 so that's total productivity,

00:26:26.140 is Ontario.

00:26:27.720 And Ontario inhabitants

00:26:30.880 are now poorer per capita

00:26:32.720 than inhabitants of Mississippi.

00:26:34.800 And that's the poorest American state.

00:26:37.000 So the inhabitants of Canada's

00:26:38.860 richest province are poorer

00:26:40.460 than the inhabitants

00:26:41.580 of the United States' poorest state.

00:26:44.220 And that's actually occurred

00:26:47.000 primarily in the last 10 years.

00:26:51.680 Yes.

00:26:52.140 And because we were basically

00:26:54.300 at parity before that.

00:26:56.180 Yes.

00:26:56.380 And had historically been

00:26:57.700 not quite as rich as the Americans

00:26:59.700 with some, you know,

00:27:01.700 blips above them,

00:27:02.980 but pretty much tracking them

00:27:05.640 one-to-one.

00:27:06.540 Yeah.

00:27:06.780 And now it's 60%,

00:27:08.920 something like that.

00:27:10.160 And that's not all the bad news

00:27:12.880 because it's 60%

00:27:14.400 in terms of absolute wealth

00:27:17.120 and a real estate market

00:27:18.700 that's twice as expensive

00:27:20.500 approximately on average.

00:27:22.180 Yeah.

00:27:22.860 Right.

00:27:23.700 So now...

00:27:25.260 It's really bad.

00:27:26.080 It's really incredible.

00:27:27.280 Like 10 years ago,

00:27:28.700 the New York Times wrote an article,

00:27:31.080 welcome to Canada,

00:27:33.120 home of the world's

00:27:34.300 most affluent middle class.

00:27:35.820 And in that article,

00:27:37.480 the Times had calculated

00:27:38.920 that median American

00:27:40.360 and Canadian incomes were tied

00:27:42.100 and that Canadians

00:27:43.440 were slightly better off.

00:27:45.520 Now, part of that was

00:27:46.400 because the 08-09 financial crisis

00:27:49.200 hit them harder than it hit us.

00:27:50.700 But still,

00:27:52.020 now per capita GDP in the States

00:27:55.140 is $22,000 higher than in Canada,

00:27:59.120 measured in USD.

00:28:00.600 So that's about almost 30,000

00:28:02.480 measured in...

00:28:03.400 Right.

00:28:03.600 So that's a whole other income,

00:28:04.920 essentially.

00:28:05.320 Yes.

00:28:05.560 That's a whole other part-time...

00:28:06.600 Exactly.

00:28:07.380 Yeah.

00:28:07.740 And then,

00:28:09.420 as you correctly point out,

00:28:11.020 their real estate

00:28:11.700 is significantly cheaper

00:28:13.380 than ours.

00:28:14.740 So their dollars

00:28:16.480 go a lot further

00:28:17.840 even when you match up

00:28:19.580 the exchange rates.

00:28:21.400 And what's worse than that

00:28:23.240 is that the leading indicators

00:28:24.900 are even more horrific.

00:28:26.700 And leading indicators,

00:28:27.700 for example,

00:28:28.220 are investment dollars

00:28:29.740 because your wealth tomorrow

00:28:31.660 is determined

00:28:32.340 by your investment today.

00:28:34.080 So if your employer,

00:28:36.040 for example,

00:28:36.660 is buying lots of new tools

00:28:38.460 and technology,

00:28:39.260 you're going to be able

00:28:39.960 to crank out more widgets.

00:28:42.820 So you crank out those widgets,

00:28:44.600 then you can ultimately

00:28:45.680 make more income

00:28:46.880 down the road.

00:28:48.680 If you take business investment

00:28:50.640 and divide it by

00:28:52.580 the number of workers,

00:28:54.380 the American worker

00:28:55.660 gets $28,000

00:28:57.360 of investment

00:28:58.860 measured in US dollars.

00:29:00.200 This is per capita?

00:29:01.580 Per worker.

00:29:02.380 Or per year?

00:29:02.780 Per worker.

00:29:03.500 Per member of the labor force.

00:29:04.820 Okay.

00:29:05.160 So you take the total

00:29:05.940 business investment

00:29:07.060 of the United States

00:29:07.760 divided by the total number

00:29:08.700 of workers in America,

00:29:09.680 it's $28,000.

00:29:10.720 In Canada,

00:29:11.460 it's $15,000.

00:29:13.040 So the Canadian worker

00:29:14.400 gets about $0.55

00:29:15.460 for every dollar

00:29:17.280 of his American,

00:29:18.380 and they're both measured

00:29:19.180 in USD.

00:29:20.100 So how is the Canadian worker?

00:29:22.400 That's investment

00:29:22.860 in future productivity?

00:29:24.200 That's investment

00:29:24.820 in machines,

00:29:27.240 in technology,

00:29:27.960 warehouses,

00:29:29.100 factories.

00:29:30.740 I see.

00:29:31.440 Any capital investment

00:29:33.180 that businesses make

00:29:34.580 divided by the number

00:29:36.260 of workers,

00:29:37.060 that's the measurement.

00:29:38.200 So now that means

00:29:39.340 they're getting

00:29:39.920 better technology,

00:29:41.900 better new machines,

00:29:45.240 better tools

00:29:46.380 than our workers,

00:29:47.320 and they will be able

00:29:47.980 to crank out

00:29:48.620 even greater wages

00:29:50.220 for their people

00:29:51.040 than we will

00:29:51.700 unless we catch up

00:29:52.760 with that.

00:29:54.140 Our productivity

00:29:55.320 is another major problem.

00:29:57.260 Like right now,

00:29:58.720 and that's,

00:29:59.280 productivity sounds complicated.

00:30:00.400 It's actually

00:30:00.720 extremely simple.

00:30:01.900 You just take the GDP

00:30:02.800 and you divide it

00:30:03.620 by the hours worked

00:30:04.540 in the country.

00:30:05.920 So American GDP

00:30:07.740 is $80.

00:30:09.280 So for every hour

00:30:10.420 an American worker

00:30:11.660 works on average,

00:30:13.440 he or she produces

00:30:14.720 $80 of GDP.

00:30:16.600 Of GDP.

00:30:17.480 In Canada,

00:30:18.460 it's $50.

00:30:18.980 Hey everyone,

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00:30:23.040 I want to talk to you

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00:31:03.420 Dr. Jordan B. Peterson

00:31:04.920 on depression and anxiety.

00:31:06.980 Let this be the first step

00:31:08.420 towards the brighter future

00:31:09.720 you deserve.

00:31:13.920 That's every hour.

00:31:15.480 So that means we have to work.

00:31:16.920 60% more just to make

00:31:19.120 the same amount

00:31:19.920 and have the same level

00:31:22.200 of income to buy food

00:31:24.560 and housing.

00:31:25.260 Now, that sounds like

00:31:27.420 a bunch of wonk speak

00:31:28.440 that might seem like

00:31:30.000 it only matters

00:31:30.820 to someone staring

00:31:32.140 at a spreadsheet

00:31:33.160 or a graph

00:31:34.200 or a chart.

00:31:35.840 But in fact,

00:31:36.620 that's reflected

00:31:37.820 in the fact

00:31:38.540 that our 2 million people

00:31:39.800 are lined up at food banks

00:31:40.920 because they can't afford food

00:31:42.240 and 80% of youth

00:31:44.060 can't afford homes

00:31:45.080 and our quality of life

00:31:47.620 and the things

00:31:48.800 we can afford

00:31:49.380 to provide our kids

00:31:50.300 have fallen back so much.

00:31:51.580 That's a real, real life.

00:31:52.700 It's a pretty stark

00:31:53.260 and easily comprehensible statistic.

00:31:56.020 I mean,

00:31:56.180 if you work

00:31:56.820 and you produce

00:31:58.000 $80 worth of goods

00:31:59.620 and services

00:32:00.260 in an hour

00:32:01.320 compared to working

00:32:02.500 and producing 50,

00:32:04.060 obviously,

00:32:04.920 that's a substantial shortfall.

00:32:07.120 Yeah.

00:32:07.700 So, and is there

00:32:09.820 a starker indicator

00:32:11.160 of the economic disparity

00:32:13.200 between the U.S. and Canada

00:32:14.380 than that?

00:32:15.440 Or do you think

00:32:16.080 that's the primary statistic?

00:32:18.720 I mean,

00:32:19.020 I think housing costs

00:32:20.060 are another one.

00:32:20.820 I mean,

00:32:21.160 there was a study out

00:32:22.480 just 10 days ago

00:32:25.100 that has Toronto

00:32:26.280 and Vancouver now

00:32:27.480 by far the most

00:32:28.720 unaffordable housing markets

00:32:30.140 in North America.

00:32:31.200 And so,

00:32:33.160 you know,

00:32:33.600 housing costs

00:32:34.380 are 50% higher

00:32:36.880 in Toronto

00:32:37.580 than they are in Chicago

00:32:38.640 even though

00:32:39.480 Chicago workers

00:32:40.780 make 50% more money.

00:32:43.080 The same is true

00:32:44.240 between Vancouver

00:32:45.180 and Seattle.

00:32:46.100 Seattle workers

00:32:47.500 make way more

00:32:48.480 than Vancouver workers

00:32:49.820 but housing

00:32:51.480 is 60 or 70%

00:32:52.960 more expensive

00:32:53.700 in Vancouver.

00:32:56.200 So,

00:32:56.720 on all the measures...

00:32:58.480 Right, so we're making less

00:32:58.740 by a lot.

00:33:00.680 Yes.

00:33:00.880 By a lot.

00:33:01.980 By a lot.

00:33:02.500 Yeah.

00:33:02.940 And we're paying more.

00:33:04.500 We're paying more

00:33:05.120 by a lot.

00:33:05.580 Yeah.

00:33:06.440 Right,

00:33:06.840 and most of that's transpired

00:33:08.380 in the last 10 years.

00:33:09.400 Yes,

00:33:09.700 and we're paying the difference

00:33:10.960 by accumulating

00:33:11.920 enormous quantities of debt.

00:33:14.960 Our households

00:33:15.860 are by far

00:33:16.840 the most indebted

00:33:17.760 in the G7.

00:33:19.400 When you take...

00:33:20.400 You divide

00:33:21.160 total household debt

00:33:22.520 by GDP,

00:33:23.360 we now have

00:33:23.840 a bigger stock

00:33:24.780 of household debt

00:33:25.980 than our entire economy.

00:33:28.120 We are more indebted

00:33:29.340 as households

00:33:29.980 than the Americans

00:33:30.720 were right before

00:33:31.760 the 08 financial crisis.

00:33:35.000 And so,

00:33:36.620 what we have

00:33:37.040 as a model in Canada

00:33:37.960 is we have

00:33:38.600 artificial scarcity

00:33:39.840 imposed by

00:33:40.700 a very heavy

00:33:41.420 and restrictive state,

00:33:43.680 confiscatory state.

00:33:45.300 That suppresses production.

00:33:48.320 But in order

00:33:49.180 to allow for consumption,

00:33:51.100 we print money

00:33:51.960 and borrow money

00:33:53.280 and then flood

00:33:55.080 the economy

00:33:55.560 with that money.

00:33:56.160 Okay,

00:33:56.420 so that's another problem.

00:33:57.700 So that's the

00:33:58.260 inflationary problem.

00:33:59.700 Now,

00:33:59.980 the problem with inflation,

00:34:01.580 there's many problems

00:34:02.400 with inflation,

00:34:03.080 but one of them

00:34:03.640 is that it

00:34:04.240 particularly punishes

00:34:05.920 people who are thrifty

00:34:07.140 and who save.

00:34:08.220 Yes.

00:34:08.780 Right,

00:34:09.120 right.

00:34:09.480 So,

00:34:09.980 inflation punishes

00:34:11.260 the people

00:34:11.740 who forego

00:34:13.200 gratification

00:34:14.080 to invest in the future.

00:34:15.520 That's right.

00:34:16.060 Right,

00:34:16.320 so that's a very bad idea.

00:34:17.840 It's horrible.

00:34:18.560 Inflation is the single

00:34:19.940 most immoral tax

00:34:21.980 for so many reasons.

00:34:23.500 One,

00:34:23.760 it takes from savers

00:34:25.560 and people

00:34:26.480 who are trying

00:34:27.060 to be responsible,

00:34:29.000 thus making it impossible

00:34:30.520 to be responsible

00:34:31.620 because you will,

00:34:32.660 if you refuse

00:34:33.720 to play the inflation game

00:34:35.580 of borrowing money

00:34:36.440 to buy things

00:34:37.020 you can't afford,

00:34:37.820 someone else inevitably will

00:34:39.320 and you won't be able

00:34:40.100 to afford anything.

00:34:41.980 So,

00:34:42.760 you ultimately

00:34:43.400 have to,

00:34:44.080 factor responsibly.

00:34:45.500 It's like Milton Friedman

00:34:46.400 was asked,

00:34:46.940 what would you do

00:34:47.480 with your money

00:34:47.960 in times of inflation?

00:34:49.280 He said,

00:34:49.840 spend it.

00:34:50.460 Right, right.

00:34:50.980 Like the first thing

00:34:51.660 you want to do

00:34:52.120 when inflation

00:34:52.640 is out of control

00:34:53.400 is to make sure

00:34:54.260 you get rid of this thing

00:34:55.180 that's losing its value.

00:34:57.140 The second reason

00:34:58.080 it's immoral

00:34:58.620 is it takes from the poor

00:34:59.660 because the poorest people

00:35:01.500 cannot put,

00:35:02.560 they do not have

00:35:03.400 the ability

00:35:04.020 to buy inflation-proof assets

00:35:05.760 like gold

00:35:06.800 and real estate

00:35:07.560 and fancy watches

00:35:08.520 and art collections

00:35:09.560 and fancy wines

00:35:11.460 and things

00:35:12.000 that go up

00:35:13.140 with or even

00:35:14.340 exceed inflation.

00:35:15.380 So,

00:35:15.540 it's a very big

00:35:16.400 wealth transfer

00:35:17.120 from the poor

00:35:19.320 and the working class

00:35:21.160 to the very,

00:35:22.300 very wealthy.

00:35:22.780 A very small group

00:35:23.840 of people

00:35:24.220 actually get richer.

00:35:25.200 So,

00:35:25.600 the socialist policies

00:35:26.760 that provide goods

00:35:29.140 and services

00:35:29.740 to Canadians,

00:35:31.200 let's say,

00:35:31.640 or denizens

00:35:32.120 of other countries

00:35:32.920 by printing money

00:35:34.200 actually punish

00:35:35.620 the poor brutally

00:35:36.480 in consequence

00:35:37.760 of the inflation

00:35:38.720 that they generate.

00:35:40.100 Yes.

00:35:40.500 I mean,

00:35:40.700 all the socialist policies

00:35:42.120 in practice

00:35:43.080 take,

00:35:44.040 redistribute

00:35:44.800 from the working class

00:35:45.920 to the super wealthy

00:35:47.040 in practice.

00:35:47.980 And I can prove that

00:35:49.280 again and again

00:35:50.520 and again.

00:35:50.940 In practice.

00:35:52.380 Yeah.

00:35:52.540 In practice,

00:35:55.660 all the redistribution

00:35:57.300 that happens

00:35:57.940 in these so-called

00:35:58.760 socialist countries

00:36:00.040 ultimately goes

00:36:01.280 from the working class

00:36:02.600 to the super wealthy.

00:36:04.260 That is the reality.

00:36:06.000 But just one last thing

00:36:06.960 on inflation.

00:36:07.940 The final reason

00:36:08.840 why it's so immoral

00:36:09.780 is nobody votes on it.

00:36:11.320 The basic principle

00:36:12.240 of our parliamentary system

00:36:13.760 is the government

00:36:14.500 can't tax

00:36:15.480 what parliament

00:36:17.040 has not voted.

00:36:18.820 The people must,

00:36:19.840 no taxation

00:36:20.620 without representation,

00:36:21.860 right?

00:36:22.600 But no one ever votes

00:36:23.980 to have the money

00:36:25.640 printing happen.

00:36:27.940 And so,

00:36:29.980 the inflation

00:36:31.360 is adopted secretly.

00:36:33.600 And you blame

00:36:34.280 the grocer

00:36:34.820 because groceries

00:36:35.860 are more expensive

00:36:36.760 or your local gas station

00:36:38.160 because gas is more,

00:36:39.320 or your realtor

00:36:40.020 because house,

00:36:40.980 when in fact

00:36:41.360 it was actually

00:36:41.900 the government

00:36:42.420 that bid up

00:36:43.060 all of those things

00:36:43.940 with money printing

00:36:44.660 and you didn't even

00:36:45.180 know about it.

00:36:46.200 So,

00:36:46.860 it is silent,

00:36:48.340 it's a silent thief

00:36:49.340 that takes from the poor

00:36:50.360 and gives to the richest people.

00:36:52.580 And it destroys

00:36:53.580 the working class.

00:36:55.280 And that's why

00:36:56.000 I want to crush inflation.

00:36:58.180 We need a policy

00:36:59.060 that seeks to

00:36:59.900 stop inflation

00:37:01.780 at all costs.

00:37:03.320 Okay,

00:37:03.580 so what would you do

00:37:04.400 to stop inflation?

00:37:05.580 Well,

00:37:05.800 we stopped the money printing.

00:37:07.600 You know,

00:37:07.880 we need,

00:37:09.120 and the money printing

00:37:10.220 is just a means

00:37:12.260 to fund deficit spending.

00:37:14.800 Governments

00:37:15.200 borrow to-

00:37:16.960 Define the deficit,

00:37:17.980 yeah,

00:37:18.220 for people.

00:37:18.680 So basically the deficit

00:37:19.640 is the difference

00:37:21.060 between what the government

00:37:22.360 spends and what it brings in.

00:37:24.000 It's usually calculated

00:37:25.100 on a yearly basis.

00:37:26.300 That's right.

00:37:26.960 And the debt?

00:37:28.500 Well,

00:37:28.680 the debt is just

00:37:29.120 the accumulation

00:37:29.560 of the deficits.

00:37:30.660 Right,

00:37:30.800 right.

00:37:31.500 So,

00:37:32.240 the deficit right now

00:37:33.520 is $62 billion.

00:37:35.940 And-

00:37:36.500 I thought it had a ceiling

00:37:37.320 of-

00:37:38.060 $41 billion,

00:37:39.020 yeah.

00:37:39.520 Wasn't that a ceiling?

00:37:40.480 Yeah.

00:37:40.720 I guess not, eh?

00:37:41.700 I guess not.

00:37:42.700 And look,

00:37:45.160 there are very real

00:37:46.260 present-day consequences

00:37:47.360 for that.

00:37:48.540 Deficits increase

00:37:49.520 the money supply.

00:37:51.280 Central banks

00:37:51.920 effectively facilitate

00:37:53.420 that increase

00:37:54.200 in the money supply.

00:37:55.640 And that causes inflation.

00:37:58.500 And, you know,

00:37:59.020 it's why our-

00:38:02.200 You know,

00:38:02.420 I have a buddy

00:38:02.920 whose family moved here

00:38:04.520 from Italy

00:38:05.100 back in 1973.

00:38:07.580 His father worked

00:38:08.600 paving roads

00:38:09.500 and his mother

00:38:11.160 made sandwiches

00:38:11.860 in a senior's home.

00:38:13.420 They were able

00:38:14.120 to pay off

00:38:15.120 their home

00:38:16.560 10 minutes

00:38:18.040 from Parliament Hill

00:38:18.960 in seven years.

00:38:21.640 Right.

00:38:22.480 Their grandchildren

00:38:23.300 wouldn't be able

00:38:24.360 to save up

00:38:24.960 a down payment

00:38:25.660 for that home

00:38:26.400 in 15 years.

00:38:28.260 And they will be

00:38:28.700 university educated

00:38:29.700 with all the advantages

00:38:30.540 of having been here

00:38:31.360 two decades.

00:38:31.940 That is the consequence

00:38:33.440 of the money supply

00:38:35.000 growing vastly quicker

00:38:36.500 than the stuff

00:38:37.380 that money buys.

00:38:38.560 So,

00:38:38.660 what we have to do

00:38:39.320 is stop growing

00:38:40.620 the money supply

00:38:41.400 and start growing

00:38:42.240 the stuff

00:38:42.660 money buys.

00:38:44.000 Right?

00:38:44.580 Produce more energy,

00:38:45.920 grow more food,

00:38:47.100 build more homes.

00:38:47.980 We have to unleash

00:38:48.920 the free enterprise system

00:38:50.320 to produce

00:38:51.520 more stuff

00:38:53.080 of value.

00:38:54.540 And this is where

00:38:55.440 we have to remove

00:38:56.340 the artificial

00:38:57.100 scarcity

00:38:58.100 that the government

00:38:59.780 is imposing

00:39:00.400 on the population.

00:39:01.780 Let's incentivize

00:39:03.360 our municipalities

00:39:04.140 to grant

00:39:04.880 the fastest

00:39:05.540 building permits

00:39:07.100 in the world

00:39:08.380 to build homes.

00:39:09.420 And you have

00:39:11.020 a plan for that

00:39:11.820 in principle?

00:39:12.540 Yes.

00:39:12.940 I mean,

00:39:13.120 I'm going to say

00:39:13.660 to the municipal

00:39:14.100 governments,

00:39:14.600 they either

00:39:14.960 speed up permits,

00:39:17.560 cut development

00:39:18.260 charges,

00:39:19.380 and free up land,

00:39:20.320 or they will lose

00:39:21.120 their federal

00:39:21.640 infrastructure money.

00:39:23.020 So,

00:39:23.220 they will have

00:39:23.500 a powerful

00:39:24.100 carrot and stick

00:39:25.040 incentive

00:39:25.900 to speed up

00:39:27.400 home building.

00:39:28.200 And the percentage

00:39:29.000 of a new house price

00:39:30.560 that's a consequence

00:39:31.400 of government

00:39:32.180 taxation and regulation?

00:39:34.200 Well,

00:39:34.520 in Vancouver,

00:39:35.060 it's 60%.

00:39:35.860 60%.

00:39:36.900 Does that include

00:39:37.940 the land

00:39:38.380 and the house?

00:39:40.300 Yes,

00:39:40.720 that includes

00:39:41.120 everything.

00:39:41.680 So,

00:39:41.940 I'll tell you

00:39:42.340 how they calculated it.

00:39:43.380 C.D. How

00:39:43.820 took the cost

00:39:46.460 of building,

00:39:47.160 compared the cost

00:39:47.940 of building a home

00:39:48.580 to the cost

00:39:48.980 of buying a home.

00:39:50.060 Yeah.

00:39:50.400 And he said,

00:39:50.740 what's the gap

00:39:51.200 between those two things?

00:39:52.180 So,

00:39:52.380 they added up

00:39:52.820 land,

00:39:53.860 labor,

00:39:54.820 profit for the developer,

00:39:56.860 materials,

00:39:58.140 and they compared

00:39:58.660 that to the sale price.

00:40:00.520 And they found

00:40:00.960 the gap was

00:40:01.540 1.2 million dollars.

00:40:04.260 So,

00:40:06.420 that's 1.2 million dollars

00:40:08.020 of extra cost

00:40:09.060 above and beyond

00:40:10.040 the materials,

00:40:11.100 the labor,

00:40:12.100 the land,

00:40:12.800 and the profit

00:40:13.380 for the developer.

00:40:14.120 So,

00:40:14.280 where's that going?

00:40:15.080 Well,

00:40:15.220 the answer is

00:40:15.960 development charges,

00:40:18.680 sales taxes,

00:40:20.260 land transfer taxes,

00:40:22.520 the delays

00:40:23.440 in getting the permit,

00:40:24.600 time is money,

00:40:25.820 the consultants,

00:40:27.560 lawyers,

00:40:28.320 accountants,

00:40:29.220 lobbyists

00:40:29.760 that the developer

00:40:30.460 has to hire

00:40:31.300 in order to get

00:40:31.980 the approval.

00:40:33.320 So,

00:40:33.600 in other words,

00:40:33.980 we're spending twice,

00:40:35.120 in Vancouver,

00:40:36.640 we spend twice as much

00:40:38.200 on bureaucrats

00:40:39.860 than we do

00:40:41.200 on all other

00:40:42.120 things combined

00:40:43.440 to build a home.

00:40:44.160 More money goes

00:40:44.760 to bureaucrats

00:40:45.480 than goes to

00:40:45.980 the carpenters,

00:40:46.760 electricians,

00:40:47.580 and plumbers

00:40:48.460 who build the place.

00:40:49.260 And to add insult

00:40:50.100 to injury,

00:40:51.660 those tradespeople

00:40:53.820 who build homes

00:40:54.560 can't afford

00:40:55.500 to live in them.

00:40:56.540 I mean,

00:40:56.900 it is,

00:40:57.320 so what we need to do

00:40:58.060 is slash the bureaucracy.

00:40:59.620 And I'm going to,

00:41:00.520 I'm going to say

00:41:01.060 to the mayors,

00:41:01.520 you're not getting

00:41:02.260 federal infrastructure money

00:41:03.580 until you slash

00:41:04.380 your development charges,

00:41:05.540 speed up your permits.

00:41:06.660 I'm going to take

00:41:07.200 the federal GST

00:41:08.160 off new homes

00:41:09.460 under a certain limit

00:41:11.580 and encourage the provinces

00:41:13.120 to do the same.

00:41:14.360 But we've got

00:41:15.200 so much land.

00:41:17.160 We should have

00:41:18.280 the most affordable

00:41:19.940 housing in the world.

00:41:22.560 It should be dirt cheap

00:41:23.700 because we have

00:41:24.200 the most dirt.

00:41:25.600 We just need to get

00:41:26.660 the government

00:41:27.080 out of the way.

00:41:27.800 The same goes

00:41:28.400 for our resource sector.

00:41:30.040 Why is it that

00:41:30.880 we're still importing oil

00:41:32.040 when we've got

00:41:32.540 the world's

00:41:33.060 third biggest supply?

00:41:33.960 Why is it we can't

00:41:35.160 export our natural gas

00:41:36.500 overseas?

00:41:38.000 You mean like

00:41:38.480 to Germany and Japan

00:41:39.460 even when they ask.

00:41:40.740 Exactly.

00:41:41.500 And are offering

00:41:42.020 multi-decade

00:41:43.460 contracts

00:41:45.260 at distressed prices

00:41:48.460 because they're so desperate

00:41:49.580 for energy.

00:41:50.640 And we can't make

00:41:51.520 a business case

00:41:52.220 for that famously.

00:41:53.600 Yes.

00:41:54.420 This is the opportunity.

00:41:55.500 I think that was

00:41:56.220 perhaps the single

00:41:57.100 stupidest thing

00:41:57.820 I ever heard

00:41:58.380 a politician say.

00:41:59.460 And that's a really

00:42:00.220 hard contest to win.

00:42:02.040 Well, you look

00:42:03.540 at the price

00:42:04.420 of natural gas

00:42:05.440 is three to five

00:42:07.280 times higher

00:42:07.960 in both Europe

00:42:08.800 and Asia

00:42:09.440 than it is

00:42:09.940 in North America.

00:42:10.960 Which means

00:42:11.760 there's a hell

00:42:12.220 of a lot of profit

00:42:12.940 to arbitrage

00:42:13.820 in getting

00:42:14.480 our product

00:42:15.280 over there.

00:42:16.200 In the last

00:42:17.220 ten years,

00:42:19.920 the Americans

00:42:20.460 have added,

00:42:21.320 I think,

00:42:21.660 six liquefaction

00:42:22.920 plants.

00:42:24.600 The Qataris

00:42:25.720 have massively

00:42:26.580 increased their

00:42:27.720 production.

00:42:29.300 Canada has not

00:42:30.000 completed a single

00:42:31.220 new liquefaction

00:42:32.340 facility.

00:42:32.880 There's one

00:42:33.420 that's supposed

00:42:34.300 to come online

00:42:35.040 soon in Kitimat

00:42:36.760 that was approved

00:42:37.720 by the Harper

00:42:38.300 government.

00:42:38.820 It's only now

00:42:39.280 coming online.

00:42:40.620 The Germans

00:42:41.200 actually built

00:42:42.300 an import terminal

00:42:43.720 in 194 days

00:42:45.420 from concept

00:42:46.680 to completion.

00:42:48.900 We've had direct

00:42:49.920 formal requests

00:42:50.860 for our natural gas

00:42:52.040 from Japan,

00:42:53.700 Greece,

00:42:55.020 Germany,

00:42:56.200 France,

00:42:57.180 and I'm probably

00:42:57.860 missing some others.

00:42:58.760 We have the

00:43:00.460 fifth biggest

00:43:00.960 supply.

00:43:01.580 We have

00:43:01.820 cold weather

00:43:02.780 which makes

00:43:03.420 it much

00:43:03.880 cheaper to

00:43:04.460 liquefy gas.

00:43:05.780 It takes

00:43:06.280 11 days

00:43:07.000 to ship

00:43:07.420 to Asia

00:43:07.900 from BC.

00:43:08.660 It takes

00:43:08.900 20 days

00:43:09.740 from the

00:43:10.060 U.S.

00:43:10.360 Gulf Coast.

00:43:11.420 So it's

00:43:11.700 basically

00:43:11.980 half the

00:43:12.540 shipping time.

00:43:15.300 And you

00:43:16.160 figured out

00:43:16.600 a way to

00:43:16.900 monetize

00:43:17.360 cold weather.

00:43:18.420 Yes,

00:43:18.880 exactly.

00:43:19.520 It's a very

00:43:19.880 difficult thing

00:43:20.520 to do.

00:43:20.920 Exactly.

00:43:21.720 Which also

00:43:22.280 will help

00:43:22.840 with data

00:43:23.520 centers.

00:43:24.640 Data centers

00:43:25.340 which we're

00:43:26.780 going to need

00:43:27.120 data centers

00:43:27.760 for AI

00:43:28.500 and blockchain

00:43:30.120 and countless

00:43:30.800 other things

00:43:31.600 that we have

00:43:32.880 the energy

00:43:34.040 for.

00:43:34.300 It takes

00:43:34.580 tremendous

00:43:35.220 amount of

00:43:35.860 energy

00:43:36.260 to power

00:43:37.740 these data

00:43:38.420 centers.

00:43:39.040 Apparently

00:43:39.400 a chat

00:43:41.600 GPT

00:43:42.420 inquiry

00:43:43.060 is 10

00:43:45.280 times more

00:43:46.120 energy

00:43:46.560 intensive

00:43:47.100 than a

00:43:48.760 Google

00:43:49.120 inquiry.

00:43:49.620 So I

00:43:51.080 think it's

00:43:52.200 2.9

00:43:53.520 watt hours

00:43:56.000 that is

00:43:57.100 necessary

00:43:57.580 to answer

00:43:58.120 one

00:43:58.460 chat

00:43:58.760 GPT

00:43:59.160 question.

00:44:00.100 It's

00:44:00.660 only

00:44:00.880 0.3

00:44:02.040 watt hours

00:44:02.740 to process

00:44:04.120 a Google

00:44:04.700 search.

00:44:06.240 Right.

00:44:06.320 The thing

00:44:06.940 about human

00:44:07.460 brains is

00:44:08.160 it turns out

00:44:08.780 the remarkable

00:44:09.440 thing about

00:44:09.980 human brains

00:44:10.540 is how smart

00:44:11.160 they are

00:44:11.560 for how

00:44:11.960 little

00:44:12.280 energy

00:44:12.720 they use.

00:44:13.540 Right.

00:44:14.000 Whereas

00:44:14.500 we're

00:44:14.900 building

00:44:15.180 machines

00:44:15.580 that are

00:44:15.880 super

00:44:16.160 intelligent

00:44:16.580 but they're

00:44:17.020 very

00:44:17.420 energy

00:44:17.820 hungry.

00:44:18.380 Right.

00:44:18.620 Well we

00:44:18.960 have a

00:44:19.240 lot of

00:44:19.540 artificial

00:44:19.920 intelligence

00:44:20.460 in government

00:44:21.000 as well

00:44:21.460 but it's

00:44:22.220 a different

00:44:22.480 kind.

00:44:23.420 Yeah.

00:44:24.820 But we

00:44:25.860 could be

00:44:26.140 powering

00:44:26.620 these

00:44:26.820 data

00:44:27.100 centers

00:44:27.560 with

00:44:27.940 Canadian

00:44:28.400 natural

00:44:28.900 gas

00:44:29.500 generators

00:44:31.680 with

00:44:32.480 nuclear.

00:44:33.060 We have

00:44:33.220 the biggest

00:44:33.560 supply of

00:44:34.140 uranium.

00:44:34.800 We invented

00:44:35.280 the can-do.

00:44:36.580 We have

00:44:36.820 the incredible

00:44:38.340 nuclear

00:44:38.940 physicists

00:44:39.440 and engineers.

00:44:40.480 60% of

00:44:41.120 Ontario's

00:44:41.700 energy

00:44:42.000 already

00:44:42.400 comes from

00:44:42.960 nuclear.

00:44:43.840 So we

00:44:44.200 could be

00:44:44.540 powering

00:44:45.060 these

00:44:45.300 facilities

00:44:46.240 and they

00:44:46.840 are just

00:44:47.320 beasts

00:44:48.000 that are

00:44:49.420 going to

00:44:49.700 gobble

00:44:50.040 up

00:44:50.240 electricity.

00:44:50.620 Well yeah

00:44:50.640 the tech

00:44:51.080 companies

00:44:51.360 are absolutely

00:44:51.920 desperate

00:44:52.360 for it.

00:44:52.980 Right.

00:44:53.300 I mean

00:44:53.440 Facebook

00:44:54.080 I understand

00:44:54.800 they're

00:44:55.060 looking at

00:44:55.760 building their

00:44:56.760 own

00:44:57.000 nuclear

00:44:57.560 plant

00:44:58.220 to power.

00:44:59.260 And Microsoft

00:44:59.840 revitalized

00:45:00.660 Three Mile Island.

00:45:02.040 I didn't know

00:45:02.520 that.

00:45:03.060 Yeah.

00:45:03.440 Yeah.

00:45:03.760 Yeah.

00:45:04.040 And they bought

00:45:04.720 all the power

00:45:05.240 that it's going

00:45:05.640 to generate.

00:45:06.460 We have

00:45:07.240 about 250

00:45:08.620 data centers

00:45:10.480 in Canada.

00:45:11.160 we could

00:45:13.000 do a hell

00:45:13.520 of a lot

00:45:13.860 more.

00:45:14.960 And our

00:45:15.380 secret sauce

00:45:17.760 is our

00:45:18.060 energy.

00:45:18.580 Our incredible

00:45:19.360 supply of

00:45:20.460 energy of

00:45:21.000 all kinds.

00:45:21.620 Hydro,

00:45:22.180 nuclear,

00:45:22.700 natural gas,

00:45:23.960 you name

00:45:24.520 it.

00:45:25.180 So let's

00:45:26.120 unleash the

00:45:26.840 production of

00:45:27.580 these resources

00:45:28.420 and bring all

00:45:29.000 that money

00:45:29.240 home.

00:45:29.440 We can try

00:45:29.920 to organize

00:45:30.600 things so

00:45:31.180 that energy

00:45:31.780 superpower

00:45:32.440 wasn't

00:45:32.980 an insulting

00:45:35.180 phrase.

00:45:36.760 Well,

00:45:37.080 you know,

00:45:38.240 National Bank

00:45:39.160 did a study.

00:45:39.960 if you want

00:45:40.380 to talk

00:45:40.640 to these

00:45:40.900 environmental

00:45:41.320 loons that

00:45:42.660 hate our

00:45:43.020 energy sector,

00:45:45.320 they said,

00:45:46.500 the great

00:45:47.200 economist

00:45:47.760 Stefan Mariana

00:45:48.820 out of Calgary,

00:45:50.060 National Bank,

00:45:50.800 said if we

00:45:51.460 displaced half

00:45:52.960 of the

00:45:53.400 electricity

00:45:55.040 demand that

00:45:55.960 India will

00:45:56.440 have added

00:45:58.160 to its grid

00:45:58.860 over the

00:45:59.500 next 20

00:45:59.900 years by

00:46:00.900 supplying our

00:46:01.600 natural gas

00:46:02.480 instead of

00:46:03.060 them using

00:46:03.460 coal,

00:46:04.540 it would

00:46:04.860 reduce

00:46:05.940 global

00:46:06.440 emissions

00:46:06.880 by 2.5

00:46:08.660 billion

00:46:09.300 tons,

00:46:10.560 which is

00:46:11.120 three times

00:46:11.800 the emissions

00:46:13.120 of all

00:46:13.900 of Canada.

00:46:15.440 So,

00:46:15.700 in other

00:46:15.900 words,

00:46:16.160 by exporting

00:46:17.020 our gas,

00:46:18.360 which is

00:46:18.760 half as

00:46:19.400 emissions

00:46:19.940 intensive

00:46:20.420 as coal,

00:46:22.180 we could

00:46:23.200 do far

00:46:23.580 more than

00:46:24.380 we could

00:46:25.040 even do

00:46:25.380 if we

00:46:25.600 shut our

00:46:25.920 entire

00:46:26.220 economy

00:46:26.640 down

00:46:26.960 and

00:46:27.160 disappeared

00:46:27.640 from the

00:46:28.100 earth.

00:46:28.800 So,

00:46:29.280 why don't

00:46:29.500 we address

00:46:30.860 the environment

00:46:31.380 with energy

00:46:32.000 abundance

00:46:32.780 instead of

00:46:34.580 energy

00:46:34.860 poverty?

00:46:35.260 Well,

00:46:36.760 that's

00:46:36.980 obviously

00:46:37.320 the moral

00:46:37.700 thing to

00:46:38.100 do with

00:46:38.460 regards to

00:46:39.060 the alleviation

00:46:39.840 of absolute

00:46:40.340 poverty as

00:46:41.000 well.

00:46:41.360 Yeah.

00:46:41.620 Because

00:46:41.920 there's an

00:46:44.220 environmental

00:46:44.600 case to be

00:46:45.240 made for

00:46:45.540 that too,

00:46:46.200 which I

00:46:47.120 learned about

00:46:47.540 about 15

00:46:48.120 years ago.

00:46:49.520 If you

00:46:50.320 alleviate

00:46:52.340 absolute

00:46:53.120 poverty,

00:46:54.620 the people

00:46:55.060 who are

00:46:55.360 now

00:46:55.760 comparatively

00:46:56.700 wealthy,

00:46:57.400 so say

00:46:57.740 starting to

00:46:58.180 move into

00:46:58.460 the middle

00:46:58.720 class,

00:46:59.740 take a

00:47:00.120 much longer

00:47:00.720 term view

00:47:01.460 of their

00:47:01.980 lives and

00:47:02.980 their children's

00:47:03.580 lives and

00:47:03.960 grandchildren's

00:47:04.700 lives,

00:47:04.920 which are

00:47:05.200 now relatively

00:47:06.020 assured and

00:47:07.260 they're much

00:47:07.620 more likely

00:47:08.140 to take

00:47:08.580 environmental

00:47:09.000 action at

00:47:09.640 the local

00:47:10.000 level.

00:47:10.940 So it

00:47:11.180 looks like

00:47:11.580 the fastest

00:47:12.240 pathway to

00:47:13.200 a genuinely

00:47:13.860 green and

00:47:14.680 sustainable

00:47:15.140 future is

00:47:16.680 through the

00:47:17.060 eradication of

00:47:17.840 absolute

00:47:18.180 poverty.

00:47:18.840 Right.

00:47:19.120 And the

00:47:19.500 most effective

00:47:20.180 route to

00:47:20.640 that is

00:47:21.000 cheap

00:47:21.300 energy.

00:47:22.100 Right.

00:47:22.700 Absolutely.

00:47:23.400 So it

00:47:24.120 looks like

00:47:24.580 we could have

00:47:25.020 a green

00:47:25.400 future and

00:47:26.020 eat our

00:47:26.340 cake too,

00:47:27.060 so to

00:47:27.340 speak,

00:47:27.720 and Canada

00:47:28.200 could definitely

00:47:29.000 be at the

00:47:29.600 forefront of

00:47:30.240 that.

00:47:30.640 Absolutely.

00:47:31.340 Okay,

00:47:31.940 so I want

00:47:32.460 to turn

00:47:33.260 back to

00:47:33.720 some numbers.

00:47:34.600 The deficit

00:47:35.560 this year was

00:47:36.360 $61 billion.

00:47:37.720 That was

00:47:37.980 last year's

00:47:38.680 deficit.

00:47:39.160 Sorry,

00:47:39.460 last year,

00:47:40.040 last year,

00:47:40.540 and there's

00:47:40.840 40 million

00:47:41.460 people in

00:47:42.060 Canada,

00:47:42.540 and so

00:47:42.720 that's

00:47:43.020 $1,500

00:47:43.680 per person

00:47:45.900 federal

00:47:46.680 overspending,

00:47:48.060 and that's

00:47:48.960 $6,000

00:47:49.680 essentially per

00:47:50.980 family.

00:47:51.680 So just for

00:47:52.400 everybody watching

00:47:53.180 and listening,

00:47:54.120 your federal

00:47:54.700 government spent

00:47:55.640 $6,000 of

00:47:57.240 your family's

00:47:58.240 money last

00:47:59.780 year going

00:48:01.620 over their

00:48:02.380 budget.

00:48:02.740 That's just

00:48:03.380 what they

00:48:03.760 spent in

00:48:04.420 excess of

00:48:05.320 what they

00:48:05.700 had originally

00:48:06.200 budgeted.

00:48:07.320 Right.

00:48:07.520 And that's

00:48:07.860 on top of

00:48:08.480 having among

00:48:09.780 the highest

00:48:10.200 taxes in

00:48:10.780 the world,

00:48:11.480 with our

00:48:11.780 53% highest

00:48:14.120 marginal tax

00:48:14.900 rate,

00:48:15.280 plus carbon

00:48:15.860 tax,

00:48:16.800 plus high

00:48:17.260 payroll taxes,

00:48:18.620 plus high

00:48:19.140 business taxes,

00:48:20.760 plus high

00:48:21.480 capital gains

00:48:22.760 taxes.

00:48:23.800 So they're

00:48:25.120 taking in

00:48:25.980 more money

00:48:26.860 than ever

00:48:27.560 before.

00:48:28.700 They've

00:48:29.000 squeezed the

00:48:30.360 taxpayer out

00:48:31.720 of every

00:48:32.020 last dime,

00:48:32.680 and they're

00:48:32.940 still $62

00:48:34.820 billion short.

00:48:35.980 Right.

00:48:36.380 And that's

00:48:36.800 just one level

00:48:37.360 of government,

00:48:37.940 by the way.

00:48:38.400 Then the

00:48:38.680 provinces have

00:48:39.420 deficits that

00:48:40.480 compound the

00:48:41.260 federal one.

00:48:42.320 So we have

00:48:43.260 way too much

00:48:43.960 government,

00:48:44.560 and we need

00:48:45.320 to reduce

00:48:45.840 the size and

00:48:46.540 cost of

00:48:47.040 government and

00:48:47.660 unleash the

00:48:48.360 power of

00:48:48.900 the free

00:48:50.920 market.

00:48:51.440 Okay, so

00:48:52.020 it's also the

00:48:53.000 case that we

00:48:54.140 haven't gone

00:48:54.620 into diagnostics

00:48:55.600 yet, but it's

00:48:56.140 also the case

00:48:56.880 that the

00:48:57.300 Trudeau

00:48:57.560 administration

00:48:58.200 has increased

00:48:59.060 the federal

00:49:00.160 bureaucracy

00:49:00.960 40%?

00:49:03.480 In bodies,

00:49:03.880 yes.

00:49:04.240 In bodies,

00:49:04.760 since its

00:49:05.240 inception.

00:49:06.460 Right.

00:49:07.460 But despite

00:49:08.440 that, they've

00:49:09.340 also radically

00:49:10.220 increased the

00:49:11.080 amount of

00:49:11.540 money that

00:49:12.140 they're spending

00:49:13.180 on consultants

00:49:15.080 who are about

00:49:16.600 as expensive,

00:49:18.060 they're as

00:49:18.500 expensive as

00:49:19.340 employees go.

00:49:20.200 Oh, they're way

00:49:20.680 more expensive.

00:49:21.460 Yeah, as any

00:49:22.160 employee you could

00:49:22.800 ever possibly have,

00:49:23.920 right?

00:49:24.340 $600 an hour,

00:49:25.960 something like

00:49:26.500 that.

00:49:27.260 Right, so

00:49:27.860 they've

00:49:28.520 massively

00:49:28.920 increased the

00:49:29.640 size of the

00:49:30.200 federal bureaucracy,

00:49:31.440 but also

00:49:32.260 massively increased

00:49:33.360 the degree to

00:49:34.020 which they

00:49:34.380 outsource the

00:49:35.240 work that

00:49:35.880 hypothetically the

00:49:36.780 bureaucrats should

00:49:37.480 be doing.

00:49:38.140 And this is

00:49:38.880 not, it

00:49:40.040 sounds like one

00:49:40.680 of those sort

00:49:41.220 of annoying

00:49:42.400 things that

00:49:43.440 bothers us

00:49:46.280 all but isn't

00:49:47.040 very substantive.

00:49:48.920 You know, you

00:49:49.260 think one guy

00:49:50.420 is making

00:49:50.800 $600 an hour.

00:49:51.560 We're spending

00:49:53.420 $21 billion

00:49:55.340 on federal

00:49:57.540 government

00:49:58.100 consultants

00:49:58.700 alone.

00:50:00.100 That's

00:50:00.460 $1,400

00:50:01.440 per Canadian

00:50:03.440 family in

00:50:05.040 federal taxes

00:50:06.100 just for

00:50:07.100 consultants.

00:50:07.920 Right.

00:50:08.540 Per year.

00:50:09.120 That's recurring.

00:50:09.900 That's not a

00:50:10.560 one-time cost.

00:50:11.800 So it is an

00:50:13.440 insane amount

00:50:14.360 of money to be

00:50:15.040 spending on

00:50:16.220 that, especially

00:50:17.060 when you have

00:50:17.560 more bureaucrats

00:50:18.440 to supposedly

00:50:19.260 do the work.

00:50:20.840 And arguably

00:50:21.640 they're delivering

00:50:22.720 worse results

00:50:23.740 than ever before.

00:50:24.560 I mean, our

00:50:24.860 border is more

00:50:25.680 porous.

00:50:26.680 Our military

00:50:27.340 has been weakened

00:50:28.180 and our basic

00:50:30.600 services.

00:50:31.380 Weakened or

00:50:31.520 devastated?

00:50:33.180 Well, you

00:50:34.320 could put it

00:50:34.700 either way.

00:50:35.220 I mean, it's

00:50:35.520 been, I think

00:50:36.520 it's definitely

00:50:37.120 been weakened

00:50:37.600 and despite the

00:50:38.720 heroism of the

00:50:39.580 men and women

00:50:40.000 who still serve,

00:50:41.440 the political

00:50:42.080 leadership has

00:50:43.060 undermined it in

00:50:44.420 every possible

00:50:45.040 way.

00:50:45.260 Right.

00:50:46.160 Immigration,

00:50:47.240 porous border,

00:50:48.180 I think our

00:50:48.740 per capita

00:50:49.280 immigration rate

00:50:50.020 exceeds that

00:50:50.620 of the U.S.,

00:50:51.260 even given

00:50:51.800 the U.S.

00:50:52.420 open southern

00:50:53.100 border.

00:50:53.680 Oh, by far.

00:50:55.700 We had a

00:50:57.260 population growth

00:50:58.460 of 1.2

00:51:00.160 million in

00:51:02.640 2023.

00:51:04.100 That's on a

00:51:04.920 base of 40

00:51:05.680 million people.

00:51:07.300 So it's an

00:51:08.240 astonishing number

00:51:09.900 of people to

00:51:10.640 bring in in

00:51:11.360 one year.

00:51:11.980 Everyone now

00:51:12.820 admits that this

00:51:13.680 was a calamity

00:51:15.220 for housing,

00:51:17.380 the job market,

00:51:18.840 and our

00:51:19.320 health care

00:51:19.700 system.

00:51:19.920 Well, Trudeau

00:51:20.100 himself walked

00:51:20.820 it back

00:51:21.260 recently.

00:51:21.820 He walked

00:51:22.160 it back.

00:51:22.320 With what

00:51:23.500 was the

00:51:24.020 approximation of

00:51:24.860 a public

00:51:25.220 apology.

00:51:25.960 Yes.

00:51:26.760 This is after

00:51:27.700 he called

00:51:28.140 everyone who

00:51:28.980 questioned his

00:51:29.620 immigration policy

00:51:30.640 a racist.

00:51:31.260 Right.

00:51:32.140 And then he

00:51:32.620 adopted the

00:51:33.260 policies that he

00:51:34.020 was calling

00:51:35.000 racist only a

00:51:36.500 year and a half

00:51:37.040 earlier.

00:51:38.800 Okay, so

00:51:39.640 that's a lot

00:51:40.740 of, I just

00:51:41.260 talked to Terry

00:51:41.960 Glavin, Canadian

00:51:43.340 journalist, this

00:51:44.180 week too, and

00:51:44.860 he did about a

00:51:46.180 five-dimensional

00:51:46.860 analysis of the

00:51:48.560 trouble that

00:51:49.020 Canada was in.

00:51:49.940 It was blackly

00:51:51.440 comic in some

00:51:52.340 ways because we

00:51:53.380 realized at the

00:51:54.300 end of the

00:51:54.920 conversation or

00:51:56.120 near the end of

00:51:56.700 it that we

00:51:57.120 hadn't even

00:51:57.640 discussed the

00:51:58.560 ever-present

00:51:59.520 threat of the

00:52:00.240 Quebec separatists.

00:52:01.380 And I was

00:52:01.980 thinking, oh my

00:52:02.620 God, like Canada's

00:52:03.680 in a pretty

00:52:04.100 dismal state when

00:52:05.260 the threat of

00:52:06.580 Quebec separatism

00:52:07.660 is number six

00:52:08.820 on the list of

00:52:10.140 threats to the

00:52:10.980 integrity of the

00:52:11.700 country.

00:52:12.140 Yes.

00:52:12.540 Right, so

00:52:12.980 okay, so

00:52:13.440 now this is

00:52:13.980 Yeah, that's

00:52:14.880 making a comeback

00:52:15.640 too, God.

00:52:16.480 Yeah, I know.

00:52:17.020 I mean, the

00:52:17.620 PQ is now leading

00:52:18.720 in the polls in

00:52:19.600 Quebec after they

00:52:20.320 had been completely

00:52:21.280 obliterated in the

00:52:22.340 Harper era.

00:52:23.660 Separatism was

00:52:24.380 completely dead in

00:52:25.840 Quebec and now it's

00:52:26.880 making a resurgence

00:52:27.860 and ironically

00:52:28.500 more out of

00:52:28.780 desperation than

00:52:29.820 anything else.

00:52:30.380 Well, I mean, it's

00:52:31.200 interesting that the

00:52:31.900 leader of the PQ has

00:52:33.040 actually been making

00:52:33.960 economic arguments in

00:52:35.800 favor of separatism.

00:52:36.580 They used to always

00:52:37.320 try to avoid that

00:52:38.520 because most Quebecers

00:52:39.500 would say, well,

00:52:40.480 clearly we'd be worse

00:52:41.520 off economically if

00:52:42.840 we left, but because

00:52:44.660 Trudeau has been

00:52:45.400 such, and Freeland

00:52:46.920 and the entire

00:52:47.420 liberal gang in

00:52:48.400 Ottawa has been

00:52:48.880 such a colossal

00:52:50.260 disaster for our

00:52:51.240 national economy, the

00:52:52.860 separatists are now

00:52:53.760 able to make the

00:52:56.740 argument that they

00:52:57.620 would be better off

00:52:58.520 separating from that

00:52:59.760 calamity.

00:53:01.100 Now, I intend to

00:53:01.980 Maybe that was the

00:53:02.100 plan all along.

00:53:03.080 Maybe I intend to

00:53:04.100 reverse that argument

00:53:04.980 by making our

00:53:05.760 economy strong again,

00:53:06.980 but it really is

00:53:07.920 astonishing to see how

00:53:10.280 badly things have

00:53:11.100 changed in every

00:53:12.060 respect.

00:53:12.740 Okay, so this has

00:53:14.180 really transpired in

00:53:15.520 large part over the

00:53:17.420 nine to ten year

00:53:19.000 period that Trudeau has

00:53:20.020 been governing, and

00:53:21.140 so when you are

00:53:23.380 trying to put your

00:53:24.120 finger on what went

00:53:25.500 so wrong, so

00:53:27.600 calamitously wrong,

00:53:29.360 what do you think the

00:53:30.900 major contributors were?

00:53:32.380 I mean, there's a lot

00:53:33.360 of hydras whose heads

00:53:35.080 we're encountering at

00:53:36.340 the moment, and I

00:53:37.560 imagine it's relatively

00:53:38.480 difficult to trace a

00:53:40.400 causal pathway, but

00:53:41.440 what did we do wrong

00:53:43.180 as a country?

00:53:45.660 Well, I mean, it

00:53:47.160 doesn't, what I'm

00:53:49.520 about to say is not

00:53:50.620 a shock to anyone.

00:53:51.840 We have a prime

00:53:53.560 minister who is

00:53:54.540 dedicated to an

00:53:55.500 extremely radical

00:53:56.860 ideology.

00:53:58.440 It is just a

00:53:59.620 rehashed socialism that

00:54:03.240 has been discredited

00:54:04.160 again and again and

00:54:05.200 again throughout the

00:54:06.160 ages, and his

00:54:07.300 basically authoritarian

00:54:10.340 socialism has guided

00:54:12.420 him throughout his

00:54:14.100 entire prime

00:54:14.800 ministership.

00:54:15.540 He believes in a

00:54:16.220 state that controls

00:54:17.160 every aspect of your

00:54:18.340 life, your money,

00:54:20.120 your speech, your

00:54:21.200 thought, controls the

00:54:23.960 economic, all of the

00:54:26.100 industries of the

00:54:26.880 country, and every

00:54:29.520 time that has been

00:54:30.260 tried, it is a

00:54:31.080 complete disaster.

00:54:32.280 So there's no

00:54:33.440 mystery involved.

00:54:34.740 It is the same old

00:54:36.100 disastrous outcome that

00:54:38.120 results from the same

00:54:39.100 old disastrous

00:54:39.800 policies.

00:54:40.360 Right, that have

00:54:41.180 demonstrated themselves

00:54:42.160 as disastrous

00:54:43.000 continuously throughout the

00:54:44.420 20th century.

00:54:45.440 Exactly.

00:54:46.100 Okay, so one of the

00:54:47.140 things that I think is

00:54:48.900 particularly striking, I

00:54:50.200 saw Stephen Guilbeau,

00:54:52.240 who's probably the

00:54:53.480 minister in Trudeau's

00:54:54.760 cabinet, who's most

00:54:55.860 fervently an enemy of

00:54:59.440 the Canadian economy.

00:55:00.360 Well, this is the

00:55:01.240 thing.

00:55:01.680 So he described

00:55:02.640 himself as a

00:55:03.420 socialist.

00:55:03.980 And so for all you

00:55:05.060 international people

00:55:06.060 listening, Canada has

00:55:07.640 always had a socialist

00:55:08.660 party, and that's the

00:55:09.760 New Democratic Party,

00:55:10.760 the NDP, which is

00:55:12.100 currently run by Jagmeet

00:55:13.460 Singh, who's propping

00:55:14.580 up Trudeau, all his

00:55:16.220 protestations to the

00:55:17.420 contrary.

00:55:18.480 And Canadians have

00:55:20.340 always been, about 20%

00:55:23.140 of Canadians have

00:55:24.300 stably supported the

00:55:26.780 socialists, the NDP in

00:55:28.340 Canada.

00:55:28.620 And that's been true

00:55:29.520 since about 1962 or

00:55:31.760 something, when they

00:55:32.420 first popped up as a

00:55:34.000 federal party.

00:55:35.480 Now, the Liberals, and

00:55:37.820 that's Trudeau's party,

00:55:39.080 have been a centrist

00:55:40.120 party, historically

00:55:41.100 speaking, and they were

00:55:42.340 the home of the

00:55:43.420 classic Liberals, all

00:55:45.240 things considered.

00:55:46.160 And they like to steal

00:55:47.200 good ideas from the

00:55:48.160 left and from the

00:55:49.020 right and chart Canada's

00:55:51.660 course down the

00:55:52.300 middle.

00:55:52.860 The thing about

00:55:53.780 Trudeau's Liberals is

00:55:55.120 they're not Liberals,

00:55:56.160 they're far-left

00:55:57.200 socialists.

00:55:58.100 And they came to

00:55:59.500 power in the guise of

00:56:00.660 Liberals, and that

00:56:01.340 meant that their

00:56:01.920 bloody, their government

00:56:04.420 was fraudulent,

00:56:06.920 technically speaking,

00:56:08.040 from the beginning.

00:56:09.160 Because Guilbeau, for

00:56:10.880 example, obviously should

00:56:12.240 have been a member of

00:56:13.740 the NDP and not the

00:56:15.040 classic, traditional

00:56:16.480 Canadian Liberals.

00:56:17.560 But he didn't care,

00:56:18.540 because he knew that

00:56:19.560 had he run for the

00:56:20.840 socialists, he would

00:56:21.800 have ended up with 20%

00:56:23.180 of the vote, because

00:56:23.840 that's what they always

00:56:24.660 do, and never had any

00:56:26.000 clear pathway to power.

00:56:27.100 And so Trudeau brought

00:56:28.460 a bunch of people in

00:56:29.620 who were so radically

00:56:30.980 left that they left

00:56:32.580 the NDP in the dust,

00:56:34.460 essentially.

00:56:35.220 And they've been

00:56:35.840 running the country on

00:56:36.780 false pretenses for

00:56:37.880 nine years.

00:56:38.820 And if you ally that

00:56:40.720 with the fact that

00:56:41.460 Trudeau is clearly,

00:56:43.240 he clearly has

00:56:44.440 narcissistic personality

00:56:45.700 characteristics, and

00:56:46.940 runs the country, I

00:56:49.060 think, as a testament to

00:56:52.900 his own grandeur, it's

00:56:54.480 something like that.

00:56:55.360 And one of your caucus

00:56:57.020 members recently stood

00:56:58.300 up in the House and I

00:56:59.220 think listed something

00:57:00.180 approximating 60 scandals.

00:57:02.440 I mean, I've been

00:57:03.060 scandalized by that,

00:57:04.840 because my observation,

00:57:06.880 I've been watching the

00:57:07.640 Canadian political

00:57:08.300 landscape for, you know,

00:57:10.000 five decades, and the

00:57:12.180 Trudeau government has

00:57:13.140 skated through at least

00:57:14.640 a half a dozen scandals

00:57:17.140 that under normal

00:57:18.040 circumstances would have

00:57:20.020 provoked an honourable

00:57:21.660 government to resign.

00:57:23.740 And then that doesn't

00:57:25.180 count the other 54.

00:57:26.800 And so, at the moment,

00:57:30.220 Trudeau's grip on

00:57:31.900 authority is very shaky.

00:57:34.120 His deputy prime

00:57:35.020 minister resigned last

00:57:36.460 week in a cloud of

00:57:37.580 catastrophic, surreal

00:57:41.080 manipulation.

00:57:44.100 He shuffled his cabinet

00:57:45.800 this week.

00:57:46.440 At least a third of his

00:57:47.480 caucus doesn't have any

00:57:49.460 confidence in him.

00:57:50.380 But he's being propped

00:57:52.000 up by the socialists,

00:57:54.200 Jagmeet Singh in

00:57:55.180 particular, who also

00:57:57.040 continually proclaims

00:57:59.640 publicly that he is an

00:58:02.380 opponent of the Trudeau

00:58:03.480 government and is

00:58:04.800 standing up against him

00:58:06.000 while refusing

00:58:08.040 categorically to do

00:58:10.260 anything, to do the

00:58:12.340 thing that's actually in

00:58:13.240 his power to bring down

00:58:14.120 the government.

00:58:14.740 So, do you want to, I

00:58:16.280 just can't understand this

00:58:17.620 at all.

00:58:18.100 So, do you want to walk

00:58:18.900 us through this?

00:58:19.580 Well, let's first of

00:58:20.780 all shed a brief tear for

00:58:24.280 Jagmeet Singh, because the

00:58:26.140 problem he has is that he's

00:58:29.040 trying to be an NDP leader

00:58:30.180 and we already have an NDP

00:58:31.740 prime minister.

00:58:33.180 Yeah, right.

00:58:33.580 Justin Trudeau is, he's

00:58:35.100 actually much more radical

00:58:36.300 than the traditional NDP.

00:58:38.480 As the NDP themselves

00:58:40.040 admit, the previous leaders

00:58:41.420 of the NDP.

00:58:42.080 Yes, he attacked the NDP for,

00:58:44.780 Trudeau attacked the NDP for

00:58:45.940 being too conservative.

00:58:47.640 Yeah.

00:58:48.420 But because he had the

00:58:49.740 comfortable blanket of the

00:58:51.640 Liberal Party, which governed

00:58:53.220 for most of the last century,

00:58:54.980 people didn't realize what kind

00:58:56.760 of radical they were dealing

00:58:57.860 with.

00:58:58.120 The second problem Jagmeet Singh has

00:59:02.500 is that all of his political

00:59:03.660 ideology is implemented now.

00:59:06.380 Yeah, right.

00:59:07.240 And we're seeing it.

00:59:08.280 Like, people look around and say,

00:59:09.320 okay, this is what it looks like.

00:59:10.680 The utopia of the NDP has been

00:59:12.320 spinning in the corner of

00:59:14.740 parliament.

00:59:15.600 They told us everything was going

00:59:16.940 to be free and wonderful and just,

00:59:18.540 and there would be-

00:59:21.040 Racial equity.

00:59:22.000 There would be, you know,

00:59:23.340 there would be unicorns and

00:59:24.840 butterflies and rainbows, and

00:59:27.420 this would be the utopia.

00:59:28.720 Well, now that all of their policy

00:59:30.600 agenda-

00:59:31.040 We have quite a few rainbows,

00:59:31.560 though.

00:59:31.640 Well, all of their agenda is

00:59:33.680 implemented.

00:59:34.580 And people look around and it's

00:59:36.420 a hellscape.

00:59:38.320 You know, we have 1,400 homeless

00:59:39.940 encampments in Ontario, 35 in

00:59:42.100 Halifax.

00:59:43.540 We have hate crimes are up 253%.

00:59:48.000 In the last nine years, the

00:59:50.840 military is decimated.

00:59:52.280 Wages are dropping.

00:59:53.340 Like, it's, the list goes on.

00:59:55.560 And so Jagmeet Singh is trying to

00:59:56.960 disown that ideology, even though

01:00:01.020 that it belongs to him.

01:00:03.200 And he's trying to make some,

01:00:04.580 trying to, unsuccessfully, to

01:00:07.980 convince people that he's somehow

01:00:10.600 different than that, when in fact,

01:00:14.100 Trudeau has only been doing what

01:00:16.100 Singh would have done in his place.

01:00:18.960 And so it is a classic for

01:00:21.780 socialists.

01:00:22.340 What they try to do is change their

01:00:24.040 names and move on and try to forget,

01:00:27.040 have everyone forget their past.

01:00:29.160 And when I say that he had,

01:00:32.080 socialists changed their names, I

01:00:33.520 mean, you know, they, they first,

01:00:35.380 they were communists and then they

01:00:37.560 became socialist and then they became

01:00:39.600 social Democrats and then they

01:00:41.200 became, they stole the world liberal

01:00:43.240 and then they, they, they ruined that

01:00:45.460 word.

01:00:45.700 So they changed their name to

01:00:46.920 progressives and then they changed

01:00:48.100 their name to woke.

01:00:49.020 And now they claim they don't want to

01:00:50.240 be called woke anymore.

01:00:51.840 The socialists always try to disown the

01:00:54.420 things they've done because it's

01:00:56.260 manifestly disastrous.

01:00:57.720 And that is what Singh is trying to do

01:00:59.440 while simultaneously keeping Trudeau's

01:01:01.900 government going.

01:01:02.680 He voted just a couple of weeks ago

01:01:05.340 against a non-confidence motion that I

01:01:08.580 put forward, which contains Singh's own

01:01:11.500 criticisms of Trudeau in Singh's own

01:01:13.640 words.

01:01:14.100 So he voted against his own words to keep

01:01:16.780 Trudeau in power.

01:01:17.760 Um, but I will remind people.

01:01:20.220 How do you, how do you account from

01:01:21.600 that, for that, from a motivational

01:01:23.780 perspective?

01:01:24.440 I mean, the scuttlebutt in the Canadian

01:01:26.260 press is that Singh is propping up the

01:01:29.260 government for personal reasons, say

01:01:31.340 regarding his pension.

01:01:32.900 Now you're making a much more political

01:01:34.340 case, but what I, I can't understand how

01:01:37.640 he can reconcile himself to himself because

01:01:40.100 what he does is so at odds with what he

01:01:43.480 says that it couldn't be more different.

01:01:45.420 Like if he, if he allied him, the other

01:01:49.060 thing I can't figure out, maybe you can

01:01:50.640 shed some light on this is like when Singh

01:01:53.220 agreed to act as Trudeau's support, why

01:01:57.680 the hell didn't he negotiate a cabinet

01:01:59.500 seat?

01:02:00.180 I mean, why didn't he make it into a

01:02:01.380 formal coalition?

01:02:02.280 I know that's not a traditional Canadian

01:02:04.900 move, but it could happen.

01:02:06.340 And so he sold his soul to Trudeau

01:02:09.140 fundamentally decimated his own party and

01:02:12.720 gained nothing in return, including what

01:02:15.880 he could have gained had he bargained

01:02:17.360 properly.

01:02:17.980 That's how it looks to me.

01:02:19.280 And what do you think about that?

01:02:21.800 I mean, he's not a very good negotiator.

01:02:23.660 That's for sure.

01:02:24.400 Yeah.

01:02:24.880 Yeah.

01:02:25.200 Yeah.

01:02:25.480 And what we are seeing is the, all of

01:02:27.400 these egomaniacs in both the NDP and what

01:02:30.940 we now call the Liberal Party are turning on

01:02:34.560 each other because they all want to disown

01:02:37.340 their collective record.

01:02:39.380 They, all of them want to say, oh, I wasn't

01:02:40.760 part of this and whether it's the outgoing

01:02:43.920 finance minister Freeland or Mark Carney, who's

01:02:46.640 been writing the financial plan behind the

01:02:48.740 scenes, or Jagmeet Singh, they're all trying

01:02:53.200 to say, I wasn't there.

01:02:54.520 I wasn't part of it.

01:02:55.760 I'm something completely different than what

01:02:57.780 you see.

01:02:59.300 And that is just an illustration of how much

01:03:03.280 of a disaster their agenda has been.

01:03:05.160 And I think that's why we're doing so well and

01:03:09.280 we're going to defeat them.

01:03:11.280 And Canadians will give me a mandate to take the

01:03:13.720 country in a completely opposite direction.

01:03:16.880 Mm-hmm.

01:03:17.660 Mm-hmm.

01:03:18.320 Okay.

01:03:18.840 So what do you see on the horizon in the upcoming

01:03:22.700 year?

01:03:23.700 I want to talk about two things.

01:03:25.540 What do you think is going to unfold?

01:03:27.460 Well, even in January, I mean, once Parliament

01:03:30.160 reconvenes and what you expect from Trudeau in

01:03:35.660 terms of his political action, then what you

01:03:38.120 expect as the Liberal Party tries to reformulate

01:03:41.840 itself.

01:03:42.240 Like, I can't imagine a scenario not really where

01:03:45.500 Trudeau leads Liberals into the next election.

01:03:47.740 That seems to me highly improbable.

01:03:50.100 It wouldn't surprise me if he has to be removed

01:03:52.260 kicking and screaming, so to speak.

01:03:54.020 But I'd like to hear your thoughts on what are

01:03:57.440 Canadians to expect in the upcoming months?

01:03:59.640 So Parliament's back in late January.

01:04:03.660 It will take some weeks to actually get a

01:04:05.600 non-confidence vote onto the floor of the House

01:04:07.560 of Commons.

01:04:08.180 Then we'll see if Jagmeet Singh's latest promise

01:04:10.780 of voting non-confidence was as insincere as his

01:04:14.440 prior commitments to that effect.

01:04:17.660 When does his pension kick in?

01:04:19.180 In February.

01:04:20.200 So he's now, basically, he said yesterday that he

01:04:24.720 would put forward a non-confidence motion at the

01:04:27.680 earliest opportunity.

01:04:28.640 Well, that's likely to be March, which is...

01:04:30.960 Oh, that's convenient.

01:04:32.180 Okay, so that problem's off.

01:04:33.940 So really, so March is the earliest, as far as you can

01:04:37.740 see, that election could be called.

01:04:40.520 Again, Singh will not vote non-confidence before he

01:04:43.940 gets his pension.

01:04:45.020 Or at least, he will not vote non-confidence in a way

01:04:48.200 that sees the election happen before his pension kicks in.

01:04:50.720 So we won't have an election before a very late winter,

01:04:56.100 early spring.

01:04:58.400 Then there's the possibility that the Trudeau resigns and then

01:05:01.920 goes to the governor general and says, we need to shut down

01:05:04.680 parliament while the Liberal Party then chooses a new

01:05:08.640 replacement, a Trudeau 2.0.

01:05:12.060 And so there would be a leadership race.

01:05:14.320 God knows how long that would drag on for during...

01:05:16.780 You think approximately in March, no earlier than March,

01:05:19.800 as far as you can foresee.

01:05:21.060 Yeah, probably.

01:05:22.460 And during which time we'd continue to flounder and twist,

01:05:25.160 twist in the wind.

01:05:27.200 And by the way, you know, the Liberal media is all saying,

01:05:29.580 well, surely you wouldn't want to trigger an election during

01:05:32.520 the Liberal leadership race.

01:05:34.220 Excuse me, the Canadian people are not obliged,

01:05:38.140 41 million people are not obliged to wait around while this

01:05:41.280 party sorts out its shit.

01:05:44.060 Like, these guys could have got rid of Trudeau a year and a

01:05:47.800 half ago.

01:05:48.520 They knew he was a disaster then.

01:05:50.280 And now they say, well, we're low in the polls,

01:05:52.540 so we have to get rid of him.

01:05:54.220 Now, you didn't care when he was just depriving single mothers

01:05:57.300 of food for their kids or doubling housing costs or unleashing

01:06:00.840 crime in neighborhoods across the country.

01:06:03.600 But now you're really concerned about getting rid of him

01:06:06.400 because your poll numbers are down and you want to keep your

01:06:08.620 job.

01:06:09.140 Sorry, that's not a good reason to paralyze the entire country

01:06:13.280 in the face, by the way, of a major negotiation with the

01:06:17.360 incoming U.S.

01:06:18.380 president who enters with a massive and powerful mandate and a

01:06:23.240 man who has proven that he can spot weakness from a mile away.

01:06:28.040 So the country should not be forced to wait for the Liberal

01:06:32.020 Party to clean up its own mess.

01:06:34.800 They've had plenty of time to do that.

01:06:36.400 What we need now is certainty.

01:06:38.480 And the only way that can come is through an election so the people

01:06:41.080 can decide.

01:06:43.060 And so who do you see as contenders on the Liberal side?

01:06:47.220 I mean, Freeland, I think, is going to make a run for it.

01:06:50.040 But Carney, do you think he's going to throw his hat in the ring?

01:06:53.520 Now, he famously rejected the opportunity to become Trudeau's

01:06:58.880 finance minister.

01:06:59.400 After accepting it.

01:07:00.700 After accepting it.

01:07:01.540 Okay.

01:07:01.940 Well, so the chronology that we're led to believe, based on sources

01:07:08.300 who've spoken about it to the media, is that Carney agreed to the job.

01:07:12.900 Trudeau went to Freeland days before she was to introduce her fall

01:07:18.800 update and said, I'm going to be firing you to bring in Mark Carney.

01:07:22.100 And then when that blew up with her unexpected premature resignation,

01:07:27.140 then Carney looked at it and said, I don't want any part of this.

01:07:30.460 And he crawled under his desk.

01:07:33.540 And so he was happy to take the job when it looked like it was a clear

01:07:38.120 path.

01:07:38.600 But then when it was a messier path, he hid from it.

01:07:43.240 Why would have he decided to take that job to begin with?

01:07:47.040 Because it's a good question.

01:07:47.860 Well, God, you can't imagine stepping into a more thankless role.

01:07:51.960 Who would want to associate with these guys?

01:07:53.920 Well, Carney already has a reputation.

01:07:56.000 It seems to me that if he has prime ministerial ambitions, he'd just wait for

01:07:59.800 the Trudeau liberals to cataclysmically degenerate even further and then step in

01:08:04.800 as the savior.

01:08:05.780 Look, he's going to try and distance himself now.

01:08:09.040 But here's the problem.

01:08:10.260 He signed on as Trudeau's economic advisor.

01:08:13.280 It's an official role he holds today.

01:08:16.180 Now, he's going to make one of two arguments.

01:08:17.740 One, he's going to say, yes, in fact, I was his economic advisor.

01:08:21.680 And therefore, I am responsible for the $62 billion deficit and the catastrophic growth

01:08:27.860 and the rising cost of living.

01:08:30.020 Or he's going to say, I wasn't really his advisor.

01:08:33.220 I was just full of it.

01:08:35.160 You know, he has to decide.

01:08:36.560 Was he lying to everybody when he claimed he was Trudeau's advisor?

01:08:40.080 Or was he telling the truth?

01:08:42.940 And either way, he's got a major political problem that he is now totally inseparable

01:08:49.560 from the Trudeau record.

01:08:51.740 He supports the carbon tax.

01:08:53.700 He supports the attack on our energy sector.

01:08:55.660 He told me and a parliamentary committee that he opposed Canadian pipelines, even though

01:09:00.940 his company has invested in pipelines in the Middle East and in Brazil.

01:09:06.540 You know, he is part of the Davos agenda.

01:09:10.840 He's just every bit as radical as Trudeau.

01:09:14.180 The only difference is he's got a nice banker's haircut and suit, and he wears navy blue socks

01:09:21.340 rather than polka dot socks.

01:09:24.060 But beyond the aesthetics, he shares Trudeau's entire ideology, and he represents the status

01:09:31.120 quo.

01:09:32.180 Okay.

01:09:32.680 Okay.

01:09:32.880 Let's, so what do you see, let's, let's, let's do this.

01:09:37.960 I want to know what you see as, like, frankly speaking, I don't envy you your job.

01:09:45.560 Yeah.

01:09:45.900 Or the people, by the way, in the Trump administration, because it's, it's very glamorous at the moment

01:09:52.120 for them.

01:09:52.740 But if they're going to cut government inefficiency in a serious manner, they're going to be doing

01:09:58.360 hard administrative labor for a very long period of time.

01:10:02.160 Now, you're going to take the helm of Canada when there are five dimensions of trouble brewing

01:10:08.560 and serious, more serious trouble on all of those dimensions than I've ever seen plague

01:10:13.520 Canada in my entire life as a Canadian.

01:10:16.180 And it's worse than that because I suspect that the true picture is a lot more dismal than

01:10:22.000 we know.

01:10:22.720 Yes.

01:10:23.060 Okay.

01:10:23.460 So that's going to be dumped on you sometime in the next year.

01:10:26.700 And so how are you going to deal with that?

01:10:30.520 Like, how are you going to deal with the fact that the easiest thing to do for Canadians and

01:10:34.500 for the remnants of the legacy media will be to wait until the Trudeau government collapses

01:10:41.960 completely, dumps the economic mess on your shoulders, and then two months later proclaim

01:10:47.080 that it's, it's your fault.

01:10:48.760 Right.

01:10:49.060 Well, and it will be your responsibility at that point.

01:10:51.860 And so, like...

01:10:53.300 They get the party, I get the hangover.

01:10:55.960 Oh, you definitely are going to get the hangover.

01:10:57.960 There's no doubt about that.

01:10:59.060 And that's, that's a formidable set of problems.

01:11:03.320 Now, as we've already pointed out, Canada has a tremendous number of natural and cultural

01:11:08.600 advantages.

01:11:09.820 But still, like, there's a lot of...

01:11:12.120 Now, you have a Senate that's packed with liberal progressives.

01:11:15.400 Let's call it, call them by their proper name.

01:11:17.820 You have a Senate that's packed with progressives.

01:11:19.760 You have a judiciary that's packed with progressives.

01:11:22.520 You have municipalities all across the country that are progressive.

01:11:25.600 Even once you win, there's going to be a lot of opposition to your movement forward,

01:11:32.280 and you're going to inherit all these problems.

01:11:35.080 So, like...

01:11:36.400 Are you trying to, are you trying to dissuade me from taking this job?

01:11:41.080 It's rough, man.

01:11:41.600 And so, and so, I mean, I want to know what, like, why you think you're, why you think you're

01:11:48.480 ready?

01:11:48.900 Why, and it's been two and a half years since we've had this conversation, conversation like

01:11:52.740 this, like, and, and what's your, what's your plan and who are your, who are the people

01:11:58.440 you have in positions to implement your plan and why do you have, why should Canadians have

01:12:03.960 confidence in them?

01:12:05.700 So, we, my plan is pretty clear.

01:12:08.580 We're going to, we're going to cut bureaucracy, cut the consultants, cut foreign aid, cut back

01:12:13.640 on corporate welfare to, to large corporations.

01:12:17.520 We're going to use the savings to bring down the deficit and taxes, unleash the free enterprise

01:12:23.020 system.

01:12:23.520 We're going to repeal C-69.

01:12:25.520 That's the anti-energy law to cause a massive resource boom in our country and make it attractive

01:12:34.460 for business to do the value-added work here in this country.

01:12:38.080 So, we're going to, part of it's going to be growing out of this mess.

01:12:41.820 You know, if you take a national, the debt to GDP ratio, you have, the denominator has

01:12:48.320 to grow.

01:12:49.620 And that's why we need a bigger, more powerful GDP that can fund our country and diminish

01:12:57.840 the relative size of our debts.

01:12:59.620 Um, we're going to bring back, uh, a monetary discipline to bring down inflation, stop the

01:13:07.740 money printing, uh, and we're going to incentivize the municipalities to get building, but it's

01:13:13.480 going to be a big fight with all of these things because there are so many vested interests

01:13:17.520 that will be trying to hold us back.

01:13:19.620 So many small economic groups that have profited off the status quo, they will be fighting against

01:13:28.800 me and I'm going to have to make, put out a call to Canadians that they have to stay politically

01:13:33.420 active.

01:13:34.700 They can't assume that simply by changing, uh, by voting in an election that everything

01:13:41.460 is going to, all the problems are going to reverse instantaneously.

01:13:45.280 Uh, like I will need people to put pressure on the Senate to adopt my economic reforms.

01:13:50.940 Uh, I will need people to put pressure on their mayors and local counselors to get under

01:13:56.340 the way and let us build homes.

01:13:57.840 Uh, I will need businesses to actually do their part.

01:14:01.380 I mean, our corporate Canada is so completely incompetent when it comes to politics.

01:14:06.800 Um, they're going to have to start to fight for the policies that are good for their workers,

01:14:11.320 uh, more aggressively.

01:14:12.820 And I've said that to them, they need to fire their incompetent lobbyists and actually go

01:14:17.400 to the people and make the arguments for the reforms that I'm talking about.

01:14:22.620 Um, and are the businesses that you're talking to, these are larger businesses, I presume.

01:14:28.560 Are they, do they understand your concerns?

01:14:30.800 Are they on board with you?

01:14:31.840 They're starting to understand because they know that what they have been doing hasn't

01:14:35.960 worked.

01:14:36.440 Um, well, the energy companies have been towing the green line.

01:14:39.980 Well, it seems to me to be a very bad strategy.

01:14:42.420 They're idiots.

01:14:43.020 They're complete idiots.

01:14:44.140 Uh, the, the, the big five, uh, oil and companies in Canada have idiot lobbyists.

01:14:50.960 Um, they have brilliant workers, incredible workers, but idiot lobbyists.

01:14:55.880 And they've been trying to suck up for the last 10 years and did nothing to support the

01:15:01.460 right policies in the prior years.

01:15:03.640 So that's going to have to change.

01:15:05.360 The developers are going to have to inform people in the cities.

01:15:09.800 Why housing costs so much?

01:15:12.180 You know, how is it possible that Olivia Chow can raise development charges by 30% and nobody

01:15:17.740 in Toronto knows about it?

01:15:19.300 Well, it's because the builders have not made it known.

01:15:22.440 And so the builders take the blame when the housing costs go up.

01:15:25.480 I mean, sorry, you have to actually, politics is a participation sport, not a spectator sport.

01:15:31.120 So our business community is going to have to step up and make the argument for these

01:15:35.900 changes to, uh, or, or I will come up against a lot of political barriers.

01:15:42.660 So, uh, I mean, it's my message to everyone is God willing, I will triumph in the, the

01:15:48.660 election, but the people who want the changes that I'm talking about are going to have to

01:15:53.400 stay politically active to push them through and over the finish line.

01:15:57.680 So one of the remarkable things that transpired on the American front and rather precipitously

01:16:03.680 in the last three months of the election was that a remarkable team of people aggregated

01:16:09.740 themselves around Trump and that, well, that was heartening because each of those people

01:16:15.540 had their own, um, track record of stellar accomplishment, but it also helped decrease

01:16:22.340 people's concern about Trump as a individualistic autocrat, let's say.

01:16:27.560 Um, now you're very well known in Canada, I would say, and, and, and increasingly internationally,

01:16:34.880 I'd say that's less true of your team.

01:16:37.900 And so could you tell us, like, can you point to some people who will be key in your administration

01:16:43.640 and highlight their, I'd like to know what you think their strengths are.

01:16:47.720 So let's walk through your, your, the core elements of your team.

01:16:51.160 And also I'd like to hear a little bit about where you think you guys still need to learn

01:16:55.600 and might need further development.

01:16:58.000 Well, listen, I, uh, I'll go through some of the names.

01:17:01.360 Uh, we, for example, we've got, uh, Andrew Scheer, who was the party leader a few years

01:17:08.280 ago, but he, he actually did a good job as party leader, uh, and learned a lot in that

01:17:14.160 process.

01:17:14.980 He was the speaker of the house and that's important in a house leader.

01:17:18.820 He knows the rules of the game because a lot of the stuff that gets done or doesn't get

01:17:24.480 done is the result of procedural maneuvers.

01:17:27.760 So you need someone who understands procedure and he understands it better than anyone.

01:17:32.160 That's why I think our house strategy has been so successful.

01:17:36.600 Um, one of my former leadership rivals, uh, Dr. Leslie Lewis is, uh, our shadow minister

01:17:43.720 of, uh, infrastructure, and she's doing a great job in talking about how we can rebuild

01:17:49.440 the infrastructure of the country.

01:17:51.840 Um, I think, um, you know, we've got, uh, a new newcomers like, um, Jamil Giovanni, uh,

01:17:58.620 who was recently elected in an overwhelming mandate in, uh, Durham.

01:18:03.040 Um, and, um, Melissa Lansman, our deputy leader, extremely well liked in Toronto, a very well-known

01:18:10.720 across the country.

01:18:11.880 She's been a terrific communicator, very smart.

01:18:15.900 So these are very good people.

01:18:17.560 And we're of course recruiting a whole, uh, army of candidates who are not yet elected

01:18:21.940 in our non-held ridings that will help me, uh, not just win the election, but govern

01:18:27.200 if God willing we do.

01:18:29.060 Who do you have on the energy side federally?

01:18:33.220 Well, we're kind of lucky in that respect that we have, uh, a huge Western caucus, right?

01:18:39.500 We, we dominate in Alberta and Saskatchewan.

01:18:42.460 So, you know, there's very few MPs in our prairie caucus that don't understand energy

01:18:48.620 because they all grew up with it.

01:18:50.360 As you recall from your, your time as an Albertan and, uh, they know what to do.

01:18:55.360 And I've also planned to, uh, I've talked to Daniel Smith and I said, look, um, and Scott

01:19:02.240 Moe, who's the premier of Saskatchewan, I said, look, you, you guys need to be ready,

01:19:06.220 uh, for when I win, uh, we need your help to reform the approval laws so that we can

01:19:15.640 get some resource projects going like immediately.

01:19:18.180 Um, and, uh, I, you know, I won't speak for her, but, uh, premier Smith from Alberta, who's

01:19:24.920 a fantastic leader has said she, she's happy to help and she knows the energy sector inside

01:19:30.600 out and backwards.

01:19:31.460 And I'm talking to, for example, Greg Rickford from Northern Ontario, he's the guy who's

01:19:37.420 been championing the ring of fire, which is all, there's the massive, uh, collection of

01:19:42.660 minerals in Northern Ontario that we've been talking about mining for the last 15 years

01:19:47.340 and hasn't been able to get approved.

01:19:49.260 He's the one who's got the plan to approve that.

01:19:51.660 So I've been talking with him a lot.

01:19:53.740 Um, and, uh, you'll see, uh, more, uh, names come forward as the, as we get closer to the

01:19:58.780 election.

01:19:59.140 Okay.

01:19:59.980 Okay.

01:20:00.380 So, so your, your fundamental plan is to eliminate obstacles, let's say bureaucratic obstacles,

01:20:08.900 procedure obstacles, and to facilitate growth out of Canada's current malaise.

01:20:15.680 Yes.

01:20:16.100 And you see that a lot of what you've talked about today is on the resource front.

01:20:21.440 And so, and you have premiers who are going to back that, um, Canada is also a sophisticated

01:20:28.660 nation.

01:20:29.260 There's, we're, we're more than hewers of wood, let's say, and drawers of water and purveyors

01:20:34.400 of energy.

01:20:35.820 Um, why don't you talk a little bit about, let's presume for the sake of argument that you have

01:20:42.200 two terms, eight years.

01:20:43.600 Yeah.

01:20:43.840 Let's say, and which is not an, I think that that's a reasonable prognostication if things

01:20:51.080 go at least moderately well.

01:20:53.860 Right.

01:20:54.360 And so eight years from now, what is the candidate that you are planning to lead?

01:21:01.820 What does it look like?

01:21:03.000 I think it's a country where any young person can say, this is the place to start a business.

01:21:08.920 This is the place to take a risk and break through.

01:21:12.900 It's a country where, um, a country of adventurers, explorers, inventors, workers, people who are

01:21:21.040 extremely ambitious and rewarded for that ambition.

01:21:25.180 Um, it's a place where not only do we graduate brilliant engineers in Kitchener-Waterloo, where

01:21:31.680 we do some of the best in the world, but they say, hell no, I'm not leaving Canada.

01:21:37.760 This is the place to be.

01:21:39.300 This is where, uh, the best tech company is hiring the next 700 people.

01:21:45.400 This is where I can get the best salary.

01:21:47.600 And this is where I can keep most of my paycheck.

01:21:49.740 Oh, and by the way, it's now affordable for me to buy a home here in Canada.

01:21:54.460 Um, it's a place where...

01:21:56.280 So that's the best rejoinder to the Americans, I would say.

01:21:59.440 Yes.

01:21:59.980 Fundamentally, you know, for Canadians who are concerned about undue American influence on

01:22:04.700 Canada, the best possible rejoinder would be to make Canada a place so welcome to entrepreneurs

01:22:10.620 that the U.S. would pale in comparison.

01:22:13.860 That's a tall order because the Americans are deeply entrepreneurial and have a very business

01:22:19.220 friendly society, right?

01:22:21.100 Like...

01:22:21.440 Yes.

01:22:21.840 At every level, right?

01:22:23.180 They reward entrepreneurial activity.

01:22:25.440 Okay.

01:22:25.560 And so I want to see that we, we, you know, for the first 14 years of this century, Canada

01:22:30.520 had more American investment than America had Canadian investment.

01:22:35.640 So in other words, we were winning the tug of war of capitalism with the greatest capitalist

01:22:39.000 economy the world has ever seen.

01:22:41.020 Mm-hmm.

01:22:41.260 Um, and then in, from 2015 to present, we've, there's been a net outflow of a half a trillion

01:22:47.780 dollars measured in USD from Canada to the U.S.

01:22:50.940 It's astonishing.

01:22:51.380 Since when?

01:22:52.420 In the last 10 years.

01:22:53.740 Half a trillion.

01:22:54.580 Half a trillion, which is, and that's American dollars, that's 700-ish billion in Canadian,

01:23:00.700 which is the equivalent of about a quarter of our economy has just left.

01:23:04.900 It's Canadian investment.

01:23:06.200 I mean, the government admits it.

01:23:07.340 The pension funds are now investing in the States, Canadian pension funds, Canadian RRSPs,

01:23:13.740 they're all invested because that's where you get the best return right now.

01:23:16.780 I want to bring that back.

01:23:18.060 Right.

01:23:18.260 So that's like $40,000 per Canadian, something like that.

01:23:21.080 That's right.

01:23:21.620 So why don't we can bring that back?

01:23:22.720 $20,000 per Canadian, $80,000 per family.

01:23:25.700 But let's bring it back.

01:23:26.640 Uh-huh.

01:23:27.080 Let's bring it back.

01:23:27.760 Let's make this the best place to get a return on your investment.

01:23:30.860 Let's make this the best place in the world to do business, to bring hundreds of billions

01:23:35.620 of dollars of investment, to dig mines, build pipelines, business centers, new tech companies,

01:23:43.940 drill, high-tech enterprises that you not only invent here, but you actually keep here

01:23:49.700 because it's not just a great place to lose money, but a great place to make money.

01:23:53.520 That is the bright, optimistic future I see.

01:23:59.040 I'm looking at models for this.

01:24:01.340 You look at Ireland.

01:24:02.400 Mm-hmm.

01:24:02.680 Ireland, my grandfather came from Ireland, you know, what, a half a century ago because

01:24:07.700 Ireland was too poor.

01:24:09.420 Well, now Ireland's per capita GDP is twice Canada's.

01:24:12.800 They're now $100,000 per capita GDP, and Canada's $50,000.

01:24:18.180 So what did the Irish do?

01:24:19.520 They cut taxes.

01:24:20.620 They shrunk government.

01:24:22.040 Government is only 23% of the economy, 40% here.

01:24:25.660 Right, right.

01:24:26.100 And so-

01:24:26.540 They made it tech-friendly.

01:24:27.780 Made it very tech-friendly.

01:24:28.760 So like 70% of the Americans, 75% of the Irish economy, excuse me, is free enterprise.

01:24:36.720 And that's why they're just cooking with gas.

01:24:40.560 Look at Singapore, Switzerland.

01:24:43.820 There are countless-

01:24:45.340 Israel, after the 90s, becoming a startup nation.

01:24:49.720 The recipe book is already written.

01:24:52.840 We know what to do.

01:24:53.780 Unleash free enterprise, remove the constraints, cut taxes, and allow people to prosper.

01:25:01.040 You know, I've heard great things about the tech graduates from the University of Waterloo.

01:25:05.700 They're phenomenal.

01:25:06.460 People in-

01:25:07.380 The people I know in Silicon Valley.

01:25:10.040 Yeah, yeah.

01:25:10.400 They're our biggest export right now.

01:25:11.860 Yeah, well, they feel that they're the equivalent, at least, of the graduates of the Indian Institute of Technology.

01:25:17.040 And I mean, the Indians have had a massive influence in Silicon Valley.

01:25:20.020 And so Canadians, well, that's only one place where Canadians are not making nearly the use of their resources that they could.

01:25:29.960 That's on the human resource front with regard to engineers.

01:25:32.980 Well, you think you graduate from Waterloo and you can pay 53% tax in Canada or 18 or 19 in Texas.

01:25:41.140 You can pay $1.5 million for an average house in Canada, or you can buy a castle for $400,000 in the States.

01:25:50.900 You can make Canadian dollars, which is 69 cent equivalent of the U.S. dollar, or you can make an American dollar.

01:25:57.380 Or it's unfortunately, the pull is very hard, but why don't we get us pulling in the other direction?

01:26:03.780 Why don't we make this the most attractive place for these brilliant minds to come out of these schools and build it here and keep it here?

01:26:12.720 And I think we can do that.

01:26:13.700 Okay, so what are you going to do when you take office?

01:26:17.760 Like, what does that look like practically?

01:26:21.040 So what could Canadians watch you do in the first months of your administration that would help reassure them that this is going to happen?

01:26:31.640 This is real.

01:26:32.180 Well, first of all, I'm going to ask the carbon tax.

01:26:34.020 It's been kind of an epic commitment that I've made.

01:26:37.680 It's iconic, and so I have to follow through on it immediately, and that will signal to the country that I'm serious.

01:26:44.380 Second, we want to get rid of the GST on new homes and make past changes that aggressively incentivize municipalities to get the building started.

01:26:57.500 That has to happen immediately for people to notice any difference in the cost of housing by the time I get through my fourth year.

01:27:07.680 We will have rapid introduction of the biggest crackdown on crime in Canadian history, a massive crackdown.

01:27:16.020 And what will that look like, a crackdown on crime?

01:27:18.720 Basically, habitual offenders will not get out of jail anymore.

01:27:22.100 Right, right.

01:27:22.920 One percent of the criminals commit 65 percent of the crimes.

01:27:27.740 Is that right?

01:27:28.340 Yes.

01:27:28.700 I didn't know that.

01:27:29.280 Yes.

01:27:29.600 Well, criminals specialize just like everyone else, right?

01:27:32.620 And the best predictor of offense in the future is repeat offense in the past.

01:27:37.040 Right.

01:27:37.580 Right, so...

01:27:38.240 In Vancouver, they had to arrest the same 40 offenders 6,000 times in one year.

01:27:43.700 Yeah, well, that's exactly a consequence of that specialization, right?

01:27:47.360 When we did this last time in the Harper government, we actually reduced crime by 25 percent.

01:27:54.040 But interesting, this is a very big surprise, incarcerations went down because the people that we kept in prison were in and out anyway.

01:28:04.000 It was like the Hotel California.

01:28:05.780 They were checking out, but they were never really leaving.

01:28:08.020 So we had to basically save them a bed.

01:28:10.640 But secondly, the small-time offenders were actually deterred.

01:28:14.620 You know, all of the so-called experts say deterrents don't work.

01:28:17.360 No, they do work.

01:28:18.580 Yeah, the best deterrent turns out to be probability of conviction rather than length of sentence.

01:28:23.380 And right now, though, it's worse than that.

01:28:29.440 Even if you have a probability of conviction, there's a certainty that there won't be any real penalty.

01:28:33.960 Right, right, right.

01:28:34.540 So it doesn't matter.

01:28:35.300 So that's not a real conviction.

01:28:36.480 That's not a real conviction.

01:28:37.580 So there's going to be a very serious crackdown on crime.

01:28:41.440 Immigration?

01:28:42.340 What's the scoop there?

01:28:43.500 Oh, we have to slow down the numbers.

01:28:44.940 There's no doubt about it.

01:28:45.900 We have to end the fraud and the international student and the temporary foreign worker program.

01:28:51.800 We have to—

01:28:52.920 Well, Canada historically had a very effective immigration policy.

01:28:56.360 We just have to get back to the best system in the world, which we had for 150 years.

01:29:02.040 Even in the United States, both Democrats and Republicans used to say—

01:29:07.360 they'd get up at a microphone and claim they were going to replicate our system because it was an undeniable success.

01:29:12.940 Immigration was not even controversial before Justin Trudeau because it was so well-managed here for so long.

01:29:20.620 And we just need to get back to that system.

01:29:21.860 Yeah, it was clearly viewed as a net benefit by the immigrants and by Canadians.

01:29:24.920 Absolutely.

01:29:25.640 And in fact, the support for immigration was strongest in kind of the rural resource and agricultural communities

01:29:32.960 where the labor was most needed and welcomed.

01:29:36.100 And people integrated.

01:29:37.680 They arrived here.

01:29:38.500 And while they were—we said to people, look, bring your traditions and culture and your stories,

01:29:45.340 but leave the problems at the door.

01:29:48.960 And so—and this is, by the way, a history for Canada that goes back hundreds of years.

01:29:52.900 I mean, the Protestants and Catholics were ripping each other's eyeballs out in Europe for centuries.

01:30:00.040 And then they came to Canada, and they got along.

01:30:04.060 They ultimately ended up intermarrying and integrating completely.

01:30:07.540 And, you know, whether you were an Orangeman or an Irish Catholic, over time, you got along with your neighbor.

01:30:18.460 And, you know, in the last nine years, we've seen that's come apart.

01:30:22.880 The foreign conflicts are now spilling onto our streets.

01:30:26.460 I want to put an end to that.

01:30:27.440 I want to say, look, we're not interested in the world's ethno-cultural conflicts.

01:30:35.780 We welcome people—

01:30:37.020 That's the shadow side of multiculturalism.

01:30:39.140 We welcome the people who come from places that have been afflicted by war as long as they leave the war behind.

01:30:46.020 And frankly, that was—most people come here to get away from those things.

01:30:50.800 So, by getting back to a common sense of values and identity and reminding people that they are—when they get here, they are Canadian first.

01:31:00.340 Canada first.

01:31:02.100 Leave the hyphens.

01:31:03.340 We don't need to be a hyphenated society.

01:31:05.160 We need to be—

01:31:05.600 Right. So, we can abandon the post-nationalist state rhetoric and presume that Canada does have a Western identity founded on the a priori principles of Western democracies.

01:31:16.800 That's right.

01:31:17.520 And that that is a uniting ethos for the people that come here.

01:31:20.940 Right.

01:31:21.480 And that we owe a debt of gratitude to the giants who came before us, who fought in wars, who laid down a parliamentary democracy, and who left us behind this incredible inheritance.

01:31:35.180 Yeah. I mean, we're going to be grateful again, and we're going to inculcate the values of gratitude for our incredible history, build up the country, celebrate what we have in common rather than dividing what—obsessing about what divides us, focusing on the shared values that make us all Canadian.

01:31:58.200 And I think, in so doing, we can—and by the way, put aside race, this obsession with race that wokeism has reinserted.

01:32:10.500 Well, invented even.

01:32:12.260 Invented in many ways.

01:32:13.520 I mean, look, when I moved to Toronto, it was as race-blind as any country—as any city could be.

01:32:19.360 Right.

01:32:19.900 Right. And that's flipped.

01:32:21.600 And it's flipped because of that obsessive concern with race, right?

01:32:25.920 That was something we 100% did not need in Canada, right?

01:32:29.980 It's—we basically, what would you say, imported and invented racism in Canada, right?

01:32:36.780 Well, the—

01:32:37.820 As a consequence of policy.

01:32:39.560 Well, wokeism seeks to divide people into these different groups and subgroups, and we see the results in a 250% increase in hate crimes.

01:32:49.820 But we're going to get back to the basic principle that people are judged based on their individual character and humanity rather than by their group identity.

01:33:03.240 And that is actually, ironically, the most unifying thing we can do to bring our country back together.

01:33:09.980 And as Lincoln put it, to bind up the nation's wounds.

01:33:14.040 All right.

01:33:15.980 So we started the conversation with a description of the manner in which the intergenerational compact that makes up the nation had started to become violated or frayed, right?

01:33:27.640 You said that young people in particular—you talked about middle-aged people and business people as well—but you said young people felt that even if they did act responsibly and even if they did undertake the adventure of their life, the entrepreneurial adventure of their life,

01:33:46.440 that the probability that they would be successful, even in the centrist middle-class manner that Canadians had become accustomed to, that had become what had an unlikely—that had become an unlikely outcome.

01:34:00.340 And so your vision, it sounds to me, is to, at minimum, restore that social contract so that young people who are interested in adopting responsibility and taking some risk can be assured that that will meet with success.

01:34:17.720 And you think that you think that you have the team that's in place that can make that possible.

01:34:25.240 Yeah.

01:34:25.740 So what have you—let's close with this.

01:34:29.280 How are you a different person than you were two and a half years ago?

01:34:33.380 I mean—

01:34:33.720 I would say I'm tougher.

01:34:37.020 What does that mean?

01:34:37.880 Tougher?

01:34:38.300 It's like you watch a boxing match and you see these guys get hit again and again and again.

01:34:42.520 You say, how is it that you can take a punch?

01:34:43.960 The average person takes a punch like that on the street, they'd collapse.

01:34:47.180 Well, once you've taken a bunch, you know how to take a punch.

01:34:50.720 And when you run for leader of the oldest and biggest political party in the country and you're trying to challenge the vested interests, then you're going to take a lot of punches.

01:35:04.040 And I have, and I've withstood those punches.

01:35:06.680 And as a result, I feel stronger now than I did when I started.

01:35:11.280 Okay.

01:35:11.580 I don't feel—I have beaten down.

01:35:13.260 And I feel emboldened and strengthened from that running through that gauntlet.

01:35:19.200 Right, right.

01:35:20.120 So that hasn't demoralized you.

01:35:21.440 Not at all, no.

01:35:22.260 In fact, to the contrary, I feel more invigorated than ever before.

01:35:26.760 Why?

01:35:26.860 Because I think—because I have a mission.

01:35:32.100 You know, I—was it Frankl that said he who has a why can withstand any what?

01:35:39.900 Any how.

01:35:40.500 Any how, yeah.

01:35:41.180 Any how, yeah.

01:35:41.800 And I have a why.

01:35:44.480 I know why I am doing this.

01:35:45.960 And I want to get this done for the country.

01:35:49.240 And I want to leave behind the opportunity for every other Canadian, the chance I had as a kid.

01:35:57.760 And I know—it's personal for me.

01:36:00.640 You know, I don't come from a privileged or wealthy background.

01:36:08.580 I was adopted by school teachers.

01:36:11.520 Grew up in a normal suburban neighborhood.

01:36:13.600 We didn't always have money.

01:36:15.600 But I was able to get here.

01:36:18.020 And my wife's the same story.

01:36:19.800 You know, she came here with nothing and she's had a great life.

01:36:22.180 Her family's had a great life.

01:36:23.280 I love that about this country.

01:36:24.520 And the idea that I could restore that as my life's work for other people, to me, that is exhilarating.

01:36:35.780 That excites me.

01:36:36.960 If that could be my—the only thing I do with my career, that would be an incredible—incredibly rewarding outcome.

01:36:47.100 Right, right.

01:36:47.900 All right, well, thank you, sir.

01:36:49.800 It's very good to talk to you.

01:36:51.120 Hopefully it won't be two and a half years before we speak again.

01:36:53.400 No, we should do it more often.

01:36:54.680 Yeah, well, it's a very good forum for apprising people of your plans and your progress.

01:36:59.880 And also, on behalf of all Canadians, I want to thank you for your immense courage and the personal political price that you—

01:37:06.280 personal political and non-political price that you have paid for standing up for your convictions and defending freedom of speech.

01:37:13.440 Because I know you have paid a very big price for that.

01:37:16.680 But you have never bent.

01:37:17.960 You have never backed down.

01:37:19.320 You've had a spine of steel.

01:37:20.660 And there are countless other people who will have the freedom to express themselves because you paid the price for them.

01:37:27.760 So thank you.

01:37:28.100 Well, thank you, sir.

01:37:29.040 It's been a privilege, far more than a price, definitely.

01:37:32.280 And it continues to be that way.

01:37:33.720 All right, so for everybody watching and listening, I'm going to talk to Mr. Polyev for another half an hour on the Daily Wire side, as you know.

01:37:41.060 And I think probably what we'll do there is drill down a little bit on Canada-U.S. relations.

01:37:47.760 The DW audience is very American-oriented, and so that seems to be perfectly appropriate.

01:37:54.140 And it's something that we didn't cover in any great detail on this side of the conversation.

01:37:58.860 And it seems particularly apropos, given that Trump has been making jokes about Trudeau being the governor of the 51st state and has also threatened to put 25% tariffs on Canada,

01:38:09.980 which I think is more of a ploy than a genuine threat, but it's definitely something that needs to be discussed.

01:38:15.680 And so we'll talk about the trials for Canada of having the Americans as their southern neighbor, but also the immense opportunities that go along with that.

01:38:26.000 So, well, we occupy the same continent, so it'd probably be best if we got along, you know, swimmingly.

01:38:34.920 So that's what we'll discuss on the Daily Wire side, so be more than welcome to join us there.

01:38:42.020 Thank you again, sir.

01:38:43.300 Thank you.

The Jordan B. Peterson Podcast - January 02, 2025

511. Canada's Next Prime Minister ｜ Pierre Poilievre

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