The National Telegraph - Wyatt Claypool - October 09, 2026


Carney Crash Has Started - 110,000 Jobs Lost in Two Months!

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00:00:00.000 So it looks like the inevitable Mark Carney crash is now upon us.
00:00:04.820 Not that I or anyone else was looking forward to this.
00:00:08.000 It was just predictable based on the terrible economic policies of the Carney liberals.
00:00:14.280 They're probably going to come out and make excuses by pointing out that we're in a trade conflict with the Americans.
00:00:20.180 Yes, that is true.
00:00:21.980 But why are the Americans growing jobs over the past couple of months and Canada has been losing massive numbers of jobs?
00:00:30.000 Here from Kirk Lubomov, he says, over the past two months, America gained 975,000 jobs.
00:00:39.420 Canada lost 110,000 jobs.
00:00:43.120 Like, what?
00:00:44.840 They're in a conflict with us just as we're in a conflict with them.
00:00:48.240 Their economy is also being held back because of Trump's trade policies.
00:00:53.820 So why is Canada losing jobs but the Americans are gaining jobs?
00:00:57.660 It's not that the trade conflict is good for them.
00:01:00.900 Generally speaking, tariffs are not a good thing unless you're using them for national security reasons.
00:01:05.660 The reason we see the difference in job numbers is that the Americans have a healthy domestic economy and we do not.
00:01:13.700 So even if the trade policies are somewhat hurting them, they can still be growing because their domestic economic fundamentals are quite good, whereas Canada's are terrible.
00:01:25.560 Now, some are going to point out, well, within the recent 70,000 jobs that we lost in September,
00:01:32.060 most of them were in the public sector, and technically, the private sector actually grew
00:01:36.940 a little bit. Sort of, we lost 23,000 self-employed people on net, and although technically private
00:01:45.940 sector jobs are up a little bit, manufacturing took a major dump, and we lost 19,000 net
00:01:53.060 manufacturing jobs in september and while yes most of the job losses were in the public sector
00:02:00.420 the problem is most of those jobs were in areas like education and health care it's not bloated
00:02:07.880 federal bureaucracy it's not getting rid of frivolous contracts it's health care and education
00:02:13.760 now maybe some of those people are in administration and hr and they were dei hires i really doubt it
00:02:19.900 because Mark Carney seems to not actually want to cut any of the elites in the federal government.
00:02:25.760 He seems to mostly lay off lower-level people who may arguably actually be doing a good job.
00:02:31.680 You know, in the midst of all this, I'm really looking forward to people like Laura Babcock
00:02:37.600 or people on the CBC coming out and talking about what a great job Mark Carney is doing.
00:02:43.400 Because, again, in the midst of all this, isn't he supposed to be the financial wizard of the country?
00:02:49.000 Again, we're not really cutting spending in the public sector in order to, like, you know, balance the budget or something like that.
00:02:56.840 We're not losing these public sector workers because Carney's such a fiscal hawk and wants to make sure that we're, you know, reducing the bloat of government and pushing things back into the free market.
00:03:07.560 No, no, no. We're literally spending right now, apparently, $2 billion subsidizing heat pumps that Brookfield Asset Management just so happens to be connected to.
00:03:20.240 I need to bring this up for you guys because this is just wild that the liberals thought they were going to be able to get away with this story.
00:03:27.400 It's pure poly of bringing it up, but I think that, you know, it's obviously still a good point, even though it is a biased partisan source.
00:03:35.020 it's accurate information here. So here's Pierre Polyev commenting specifically on this new heat
00:03:40.760 pump scheme. Prime Minister just finished announcing he's going to take $2 billion
00:03:44.680 out of the pockets of Canadians and give it to companies like those owned by Brookfield
00:03:50.220 to give people back a small amount on applications for heat pumps. Here's an idea. Why don't you
00:03:58.060 leave the $2 billion in the pockets of Canadians, people like you, whom I trust, and if you want to
00:04:03.260 spend your money on a heat pump, then the government should leave the money in your
00:04:07.780 pocket for you to do so. Rather, Mr. Carney would take the $2 billion out of your pocket,
00:04:12.580 give it to the bureaucracy that gives it to big corporations, and you're supposedly going to get
00:04:18.220 a rebate for some part of an expensive home transition that you might not otherwise make.
00:04:24.080 That's why another example of Mark Carney costing you more money. No wonder we are in an
00:04:30.000 affordability crisis. Now, some people say that, and it's not untrue, heat pumps can save people
00:04:36.580 money on their power bills over time. It's like, okay, I'm not against people retrofitting their
00:04:42.340 houses to be more energy efficient, but why is the government subsidizing people to do this?
00:04:48.060 If it's such a great investment, people can make it themselves, especially because this is a
00:04:52.780 technology that doesn't really work all over the country. You need to be in a warmer part of Canada
00:04:58.100 in order to really get the full value out of a heat pump. You can't do this in frozen Winnipeg
00:05:03.760 or Saskatchewan, or if you're up in Edmonton, you're definitely not going to make much use
00:05:08.460 out of a heat pump. Yet we think we can push the envelope and spend $2 billion more on this
00:05:15.520 program rather than just giving people some money back on their taxes or paying down the deficit or
00:05:21.620 the debt, something like that. It seems like it doesn't even occur to these people. And I want to
00:05:26.300 bring this up because this it's crazy that this even happened recently in a press conference this
00:05:32.780 morning well pure polyev was out there talking about stelco laying off 350 steel mill workers
00:05:39.980 uh that we have all these job losses over the past couple of months and whatnot all these things that
00:05:46.320 are obviously failures of the federal liberals now they're going to try and blame the american
00:05:50.460 owners of Stelco for the layoffs. The problem with trying to blame them for the for the layoffs
00:05:57.260 is the fact that they were the ones who basically did not get Stelco to guarantee that they were
00:06:04.060 going to keep people employed for the subsidies they were getting from the federal government.
00:06:08.060 They're walking away because they know they're not legally they have no legal obligation to
00:06:14.340 actually stay. In just a second, I'm going to pull up this clip, though, because in the midst of all
00:06:19.180 this stuff happening that poly of was rightfully pointing out what did the media ask peer poly of
00:06:23.960 about oh of course it's about peer poly of leadership okay i found the clip i had just
00:06:30.840 watched this this morning this is just absolutely wild that they thought this was an appropriate
00:06:36.460 question to ask poly of laura stone globe and mail um i want to ask about what's going on with
00:06:41.960 your caucus with scott aitchison now leaving we've got eight people who have departed uh he talked
00:06:47.420 today in an interview with the star about potentially more people on their way out you
00:06:52.220 talked about caucus being somewhat demoralized i wonder a what are you doing as the leader of this
00:06:57.060 party to ensure no more members leave your caucus um and b what do you tell those mps who have been
00:07:03.600 in opposition for several years who are now looking into the future thinking i don't think
00:07:08.660 or i don't know if i'll ever be in government guys this scott aitchison thing happening that
00:07:15.260 where he said he's going to like retire at the end of the year this happened a week ago she could
00:07:20.340 have asked this at other press conferences that press conferences that have happened since then
00:07:25.800 but no no she's deploying this today right when some awful job numbers come out and mark carney
00:07:32.340 gets caught basically trying to subsidize his own company through like heat pump rebates what and i
00:07:40.400 think that peer poly absolutely knocks this out of the park because he said almost word for word
00:07:44.840 what I would want him to say if I could have scripted it out and he did it on the fly.
00:07:50.500 Well, listen, I think it's amazing that here I am standing in front of an idle steel facility
00:07:55.680 where there are hundreds of people now out of a job who are going home tonight and don't know
00:08:00.740 how they're going to put groceries on their table, who are going to be missing mortgage
00:08:05.200 payments in a couple of weeks. They join with the 68,000 Canadians who lost their job last month.
00:08:11.980 and the 56% of Canadians who don't own a home and believe they never will.
00:08:20.280 And, you know, the last year and a half, the media has asked about me,
00:08:23.900 but they don't ask Prime Minister Carney about the people that left his caucus,
00:08:27.580 the people that are losing their jobs,
00:08:29.040 the people who are on the other side of the water,
00:08:32.320 who don't know how they're going to pay their bills.
00:08:34.540 And the thing is, too, with the people leaving the Carney government,
00:08:38.740 It's actually more significant than people leaving the opposition bench.
00:08:42.700 You know, hey, I want to be in government.
00:08:44.360 I'm not.
00:08:44.820 I'm put out and I'm going to leave, you know, the caucus and retire.
00:08:48.260 That's not that shocking.
00:08:50.400 You know, and Scott Aitchison himself is a massive red Tory.
00:08:53.440 He actually, at one point, backed all the blanket rezoning policies that the Trudeau
00:08:58.700 liberals were trying to push on all the cities to hyperdensify their suburban areas.
00:09:03.380 He was somebody who supported that.
00:09:05.000 He is very much an urbanite type conservative.
00:09:08.300 uh so him leaving doesn't really shock me all that much but nobody seems to ever investigate
00:09:13.560 why are people leaving the government he's had about seven or eight people also leave and this
00:09:19.460 is just considered oh well you know they must be wanting to move on to bigger and better things
00:09:24.300 why is that never assumed when it comes to the opposition except we actually have evidence that
00:09:29.960 people like steven gilbeau and christia freeland and jonathan wilkinson and many of these other
00:09:35.120 people who have left nader sky and smith that they actually personally really hate mark carney
00:09:40.460 and we never investigate any of that at all i think we have to focus on the real lives of real
00:09:46.760 people as frankly some of this stuff might be very interesting uh the smalletics might be very
00:09:52.320 interesting on parliament hill but what we need to do is focus on saving canadians money and jobs
00:09:57.980 giving young people hope that they'll be able to have homes and start families those are the real
00:10:03.440 problems of real people and it would be nice if mark carney would actually get some real questions
00:10:07.860 from the media about that and i gave you my i'll give you my very legitimate answer go ahead
00:10:14.420 and she's trying to argue back at him laura stone that well you you didn't answer my question it's
00:10:20.700 not a question it's an attack what are you going to say to all those members of caucus who thought
00:10:25.640 they were going to be in government now they're disappointed they want to leave or do you think
00:10:28.820 you're going to lose a bunch more people. It's like, we just lost 70,000 jobs. Stelco just lost
00:10:36.380 350 jobs right behind him where he was doing the press conference. And Polly, I've actually had a
00:10:41.460 good substantive answer to what's going on. But now I just want to quickly shift over and play
00:10:48.420 a clip from the CBC that I think is going to be very representative of the take from the mainstream
00:10:55.600 media and the liberals on all of the bad news recently. We've already seen them try and shift
00:11:01.020 everything over to Pierre Polyev's leadership as a distraction, but they're also of course going to 0.93
00:11:05.960 be going after the Trump administration and just talking about how crazy they all are. Check this
00:11:12.080 out from Robert Fyfe on the CBC. The administration is made up of a madhouse of people. It's hard to 0.78
00:11:22.780 fathom but every single day there is outrage that you said yourself no they couldn't possibly go
00:11:29.660 that low and of course they go that low and then you wake up the next morning and oh they're doing
00:11:35.820 this they can't possibly be doing this but of course they are i mean who would have thought
00:11:39.860 that they were going to live stream an execution i'm sorry where is the outrage whenever the
00:11:48.560 carny liberals do something where is any accountability on them the cbc and so many
00:11:55.100 these other mainstream media let's spend so much time talking about the trump administration the
00:12:02.280 united states a country that shock gasp is not in canada it's not has nothing to do with canada
00:12:10.620 day to day and we constantly talk about them but we never talk about actual policy failures
00:12:16.360 from the Liberals. Let's highlight something also brought up by Kirk Lubomov today,
00:12:21.280 because this is, I think, quite interesting. So this is a chart that I'm going to be getting
00:12:27.280 to in a second that shows per capita, basically, availability of MRIs. So Kirk Lubomov here says,
00:12:37.940 one of the biggest mistakes Canada did with its health care is blowed it with administration
00:12:43.580 instead of equipment and actual health care providers.
00:12:47.080 We now have Canadians turning to MAID and die waiting for care
00:12:50.160 just because there isn't enough equipment to provide care.
00:12:53.760 Canada has among the fewest MRI units per person in the developed world.
00:12:57.760 For example, check this out.
00:13:00.160 The average, OECD average is 19.4.
00:13:04.360 The United States is 38 and Canada is 10.8.
00:13:09.020 I assume this is 38 MRI units per 100,000 people.
00:13:13.060 OECD is 9.4, and that 9.4 is only as low as it is because of countries like Canada, who only have 10.8 units per 100,000 people.
00:13:24.860 The United States is more than, it's about three and a half times more MRI units than Canada.
00:13:32.140 I know we can say this has been an ongoing problem in Canadian history, as Kirk Lubomov points out, that we have a model that prioritizes staff rather than equipment, and not even frontline staff, administrative staff.
00:13:47.500 But the Liberals have been in power for nearly 12 years or so.
00:13:52.220 So at some point, it is their responsibility to have fixed it over a decade.
00:13:58.200 They've had over a decade in government.
00:14:00.180 Yes, health care is a provincial issue. At the same time, the federal government is in charge of transfers to the provinces for health care spending.
00:14:10.580 They are allowed to mandate certain things to have money spent on it if they want their full transfer value.
00:14:16.580 But we would rather employ a bunch of people who will hopefully vote for the Liberal Party rather than actually make sure the money is going to places it needs.
00:14:25.520 this is a thing that plagues so many provinces like almost every other dollar in a lot of
00:14:30.440 provinces in the health care system has nothing to do with health care i mean like we're not talking
00:14:35.480 about floor managers we're not talking about people who are maybe not nurses and doctors but
00:14:39.900 are useful in hospitals like janitors and whatnot you know but like half the dollars are being spent
00:14:44.740 on paperwork and paperwork that if it all blew away nobody would miss it but that's a great way
00:14:51.280 of making jobs, like creating make-work jobs in order to keep people employed. Now, we're saying
00:14:58.080 this all in the same context that we just lost a bunch of healthcare jobs, but I really doubt it's
00:15:03.100 any of these administrative individuals that we could do without. I just want to move on to this
00:15:09.120 other quick video. This was from the Western Standard putting this together. Melanie Jolie
00:15:13.760 was reacting to the Stelco job layoffs and trying to blame the company for something that is so
00:15:20.120 obviously the liberals fault for not actually hammering out in paper understand in the case
00:15:25.400 of stelco is that the company committed to keep the same amount of jobs uh and the circumstances
00:15:32.760 that the circumstances that we are uh seeing right now which is basically the fact that
00:15:39.720 there is an entire trade war against steel workers oh it's the trade war guys and it was stelco's
00:15:45.720 fault because they committed where did they commit is it in legal is it legally binding is
00:15:51.720 it a legally binding commitment because if it's not you're incompetent you're going to give them
00:15:56.120 a big subsidy to stay in canada as they were giving to all the steel companies you know
00:16:01.560 justifiable in many ways because we need to make sure that we're keeping people employed during
00:16:06.200 the trade conflict but you're going to be giving up subsidy money and you're not going to have it
00:16:11.800 be legally binding because nowhere does she say here that they've broken some contract with the
00:16:16.120 government that if they're not going to employ these people they owe us back a bunch of money
00:16:20.280 and we can hold them accountable it just sounds like it was like a handshake agreement or verbally
00:16:25.160 they said yeah we'll try and keep people employed and now they're trying to pretend like it's their
00:16:29.320 fault and the trump administration's fault that they can't manage their own business cannot be used
00:16:35.720 against these commitments and at the same time the ceo of cleveland cliffs that owns felco has
00:16:44.760 clearly said that he's in favor of these u.s tariffs against steel workers and so they cannot
00:16:51.960 say that this is now uh act of god or force major and basically say that now they cannot commit and
00:17:00.440 what is the number of jobs you expect them to retain in canada more responsibility i expect
00:17:05.240 them to keep the jobs period yes okay perfect question from that one journalist how many jobs
00:17:11.720 were they supposed to keep i expect them to keep the jobs what jobs you actually need to have a
00:17:16.360 number they need to have something you can hold them to but she clearly has nothing she can hold
00:17:20.440 them to so we gave them a bunch of money with no commitment to actually keeping the jobs number uh
00:17:26.760 the number is actually uh more than uh a thousand five hundred so basically we'll provide you the
00:17:32.680 details. But right now, what is affected is 500 jobs. And have they responded in any way to you
00:17:40.520 yet? Not yet. More than 1,500 jobs where? Is that just an idea that they were supposed to
00:17:45.720 keep a certain number of jobs employed somewhere? Do they have fewer than 1,500 jobs
00:17:51.740 in Canada now? Or is this 1,500 jobs in this particular mill or in a particular role?
00:17:58.400 This is the problem.
00:17:59.600 They didn't think any of this stuff through.
00:18:01.600 And them trying to say, well, they said that they approve of Trump's steel tariffs on Canada.
00:18:07.020 It's like, yes, they're in the steel business and they're heavily invested in America.
00:18:10.280 Of course, this may actually benefit them.
00:18:12.420 The problem is you should be trying to make Canada's market, you should be trying to make our industry, our domestic economy more competitive than theirs.
00:18:21.480 But so much of Canada's economy right now relies on federal liberal tax breaks and subsidies and grants in order to try and get companies to stay here when in a normal free market world, they would leave Canada because unless the government's paying you to stay here, there's no point in actually trying to operate in this country.
00:18:42.200 Again, I thought Mark Carney was a financial wizard.
00:18:44.580 I thought he was really good at this.
00:18:46.200 Apparently, he's good at siphoning money off to Brookfield Asset Management.
00:18:50.280 But when it comes to actually creating Canadian jobs, no.
00:18:53.680 And again, we're losing public sector jobs.
00:18:55.900 And people could say, well, maybe let's assume that they were administrative.
00:18:58.760 OK, fair enough.
00:19:00.220 That's still not actually true because they're in education and health care.
00:19:03.660 Maybe they're from administrative parts of those departments.
00:19:06.440 Who knows?
00:19:07.460 Let's just assume that's true.
00:19:08.440 but we're not lowering the amount of federal spending we're not trying to get the government
00:19:14.120 to spend less in order to lower the deficit so that our debt servicing payments are lower each
00:19:19.660 year no no no we're not doing that at all we're in fact just increasing spending on just all areas
00:19:25.680 of government except certain areas of employment which is like saying well yes government spending
00:19:33.180 has gone up, but it's gone up in areas that are not as bad as it was before. But really, it's
00:19:39.520 equally as bad, if not worse. The Alto high-speed rail line, we're going to spend $90 billion on
00:19:45.060 apparently, and the timeline for it to recoup its costs once it's finally built, which could take
00:19:50.800 more than a decade or 15 years or so, it's like on the timeline of decades itself just to recoup
00:19:58.720 the cost. What's the point? Well, maybe it's because of the massive conflict of interest that
00:20:03.820 Trudeau, sorry, not Trudeau, but federal carny liberal officials have, like the finance minister
00:20:09.240 Francois-Philippe Champagne, who literally has his spouse, I guess it's just his partner,
00:20:15.580 but his girlfriend, fiance, wife, I don't know, was made the vice president of the environment
00:20:21.740 very shortly before they started getting billions of dollars committed to them by the federal
00:20:26.700 government what like come on people it's a train nobody wants two billion dollars for heat pumps
00:20:33.760 to like a bunch of money sent to ukraine bunch of money sent to brazil bunch of money sent to
00:20:39.720 benin we couldn't spend it better we couldn't cut people's taxes any at all we couldn't think of
00:20:45.160 anyone who could use a tax cut right now but no the liberals don't like to actually do anything
00:20:51.500 unless they they can be at a ribbon cutting so they'll never just cut your taxes so that you can
00:20:56.020 get ahead they'll only ever give you little bits and pieces of your money back in program so they
00:21:00.900 can pat themselves on the back for having done it anyways with all that being said thank you
00:21:06.180 guys for watching this video i had to pause a few times so hopefully it didn't seem too rambly or
00:21:10.980 disconnected i had to jump up and do a couple things emergencies popping up here and there
00:21:16.180 but again if you like the channel make sure to leave a like on the video subscribe if you're
00:21:20.820 not yet a subscriber, and I'll see you guys all next time.