Carney hurts himself in year-end interview - Failure, Lies, and Excuses!
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Summary
Wyatt Claypool looks at PM Mark Carney's meandering interview on Global News, where he makes excuses for the Liberal Party's failures, and talks about future initiatives as if they make up for the failures of the past.
Transcript
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Hey guys, Wyatt Claypool here. Like I said yesterday on the channel, you can tell a lot
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about where Prime Minister Mark Carney and the Liberal Party are at right now by just looking
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at their own social media feed. They are trying to put their best foot forward, and that looks
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pretty pathetic. They don't have anything to celebrate in 2025, and in that similar vein of
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looking at their social media feed, I want to show you an absolutely abysmal interview that Prime
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Minister Carney did on Global News. He just, again, doesn't really have anything to celebrate.
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It's a meandering interview where he makes a lot of excuses, talks about future initiatives as if
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they make up for current failures. The entire thing is just bad all the way through. If you voted for
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the Liberal Party, I don't think this really gets you fired up for what the Liberals are going to do
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in 2026, and the Liberals should in fact be scared of a 2026 federal election, because Carney has not
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disproven that he is very similar to Justin Trudeau. Of course he's very similar to Justin Trudeau. He was
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the economic advisor from 2020 until Justin Trudeau stepped down. But anyways, let's get into some of
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these interview clips, and I do thank Mark Nixon for having been the guy who went through this interview
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and clipped out some of the more interesting bits. But let's start off with this post on Mark Carney's
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ex-account that was just uploaded two hours ago, and it says,
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This year, millions of Canadians made the choice to buy Canadian, and by introducing our new buy Canadian
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policy, so did Canada's new government. Here's to buying more Canadian in 2026, and there's just some
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random picture, I guess, of him purchasing some Christmas tree on a tree lot. I'm not sure how
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you wouldn't buy Canadian when buying a Christmas tree. You're not going to buy it from Texas or
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Florida. Maybe some people get their trees in from Washington State or Oregon or from the Dakotas, but
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I don't feel like that many people really do that. But he's still really trying to nail this whole new
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government thing. The idea that, no, no, no, we didn't fail. That was Justin Trudeau and his liberals.
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But Mark Carney and his liberals are a new government who are going to fix the problems,
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even though Carney was around for much of Trudeau, and pretty much all of the MPs sitting on the
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liberal bench are the same as what Trudeau had under him. But whatever, they're just going to keep
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saying new government forever, as if that is not insulting the intelligence of Canadian voters.
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But here's a clip of Mark Carney talking about the Memorandum of Understanding with Alberta,
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and kind of fudging the whole pipeline side of this issue. Because when he mentions a pipeline,
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he corrects himself and says potential pipeline, because he doesn't actually firmly want to commit
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to a pipeline, because he's holding together a party where there are business liberals on the right
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who want the pipeline built, and green liberals on the left who absolutely do not want the pipeline
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built, and frankly, would like all oil and gas production shut down.
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The production and the transportation of that oil.
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It's clean oil, I think it's the term that Albert uses.
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So that's, and then what else we've done, because the MOU, Memorandum of Understanding,
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it is the pipeline. It is a potential pipeline. It's pathways.
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The MOU is the pipeline, because he's trying to nail the idea, like guys, the MOU is all about the
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pipeline. And then he actually corrects himself knowing that that's too aggressive for his green
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left to say. So he says a potential pipeline. So even he is not guaranteeing anything. Because
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before, the whole idea was that he was going to be the guy to build a pipeline. And now even in
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interviews, where he could probably control what the questions were going to be about,
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which all these sorts of interviews tend to be pretty staged, especially when you're the liberal.
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And even in this interview, he messes it up and immediately starts having to hedge on whether
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or not there's really going to be a pipeline built.
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It is a six and a half times increase in the effective carbon price. It is 75% reduction in
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methane. It is inertized with the clean grid of British Columbia. It's nuclear investment in
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nuclear power as well. So it's a comprehensive approach to the medium term energy, which is a lower
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See, you know what he did there, though? So he's talking about the MOU. The MOU is a pipeline,
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a potential pipeline, he corrects himself. And then when he goes on to describe what the rest of
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the MOU is, he's saying a six time increase to the price of carbon. It's a 75% reduction in methane.
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It's the clean grid. It's all these other green initiatives. That's what it definitely is.
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But when it comes to a pipeline, it's a potential pipeline. This stuff will absolutely be clipped
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by the Conservative Party and used against him. And it absolutely should be. I just want to go
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down this vein a little bit more, but we will eventually move on to some other clips,
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like Carney effectively admitting that he is not going to get a trade deal signed with Donald Trump.
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Climate change is not the urgent political issue that it once was. It's not on the top of
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everyone's agenda now. In this moment that we are in, countries are pulling back from their net zero
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commitments. Many countries haven't missed, haven't made their emissions targets, including Canada.
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Yeah, a couple of things. One, globally, we're off track. Exactly what you said. The ability to keep
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temperatures below one and a half degrees is slipping, slipped away. The ability to keep them
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below two degrees, which was the Paris objective, is what the focus is. That's the first point. The
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second, in terms of Canada, we are also what the policies that I inherited are not sufficient to
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meet our targets. Okay, not sufficient to meet our targets, 20, 35 targets. And in part, because
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regulation, in and of itself, isn't sufficient, you need the investment alongside it.
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No, no, no, that's not investment. That's called subsidy. I know he'll say that, no, we need business
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to also get involved in our net zero future. But he's not actually walking back the idea that we need
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to hit these targets. He's absolutely in favor of the targets. He simply thinks that there's just
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another way of doing it. This is what I mean when I say he's just as left wing as Justin Trudeau.
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Justin Trudeau is just the true believer who just basically thinks that he's going to regulate you
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into this future. Carney will regulate and tax you into the future as well. But he's smart enough to
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also pivot and try and create perverse incentives to also invest in like the net zero grid and green
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energy and solar and wind, all this stuff. He will use government levers in order to incentivize
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investment. But that's just simply turning, burning more money, but just making certain
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small portions of people rich off of inefficient energy over time by having the government effectively
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back their, you know, back their investment. So part of the shift of the government is to really
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focus on those investments at scale. So that is clean grid. And you'll see early in the new year,
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our electricity strategy for the country, our clean electricity strategy for the country,
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associated nuclear strategy for the country, carbon capture being part of this solution,
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and beyond. So it's about investment action in order to reduce those emissions. Because what will
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happen, first off, there's the moral imperative of the moral obligation, responsibility for future
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generations of addressing the issue, but is also the commercial reality. Climate has become less of
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an issue politically, if you look at polling, but it is continuing the climate change continuing
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remorselessly. And what is happening is that the importance of being lower carbon, whether it's in
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energy, automobiles, aerospace, services, whatever industry will only become more important. You just
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have to look at where China and others are going. Where China and others are going. How did he somehow
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turn that into a compliment about China? Now, I really don't care where people get their energy
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from. I think that really, we should just be a free market and you can get whatever energy that you want,
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or whatever purposes you have. That is where we should be at. But imagine if you are a big climate change
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guy, giving a compliment to China and basically saying, well, see, we still need these regulations,
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we need to make these massive taxpayer investments into the clean energy grid and all these other
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subsidies, because this is where the world's going. And this is where this is what China wants. So we're
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apparently going to keep hurting our economy because it's what China wants, which really, to me,
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just sounds like China has cornered the market on this particular, like China's cornered the market
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on a lot of green energy, like subsidies and whatnot. And they want the US and Canada and the rest of the
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world to get more involved in green energy so that they can sell us bad electric vehicles and other
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sorts of products. That's really all this is. But I'll just move on to this next clip of Mark Carney
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talking about trade issues. What I would say, I think there's actually more so just the state of
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the economy right now, and trade in general, what I would say to Canadians, the good news is
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virtually everybody wants to do more with Canada. So that's true in Asia, whether it's the Philippines,
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Thailand, Singapore, the ASEAN countries, which are almost a quarter of the world's GDP, it's Indonesia,
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it's the European Union, it's the UK, it's the countries of the Gulf, United Arab Emirates is going to
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invest $70 billion, $70 billion in Canada that made a commitment to that. They made the commitment,
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we didn't ask, you know, that that comes. So people want to do more with Canada, because we have what
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the world wants. We have the values, which most of the world aspires, we're a reliable partner.
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And we're an increasingly confident nation that has ambition. So people want to deal with us. Now,
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how did we lose $50 billion to the United States, then? How did that happen? Plus, even to just try
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and get Donald Trump to the negotiating table on trade, Carney started making all these commitments
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for more investments from Canada into the US. The thing is, when he's talking about getting a deal
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signed in the Middle East, oh, from the UAE, we'd get $70 billion. That's a commitment. Okay,
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that's not real yet. It probably isn't actually going to materialize. He can keep saying, oh,
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more countries want to do stuff with Canada. Well, maybe in a general sense that, of course,
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any country would want to trade more than any other country, because it's good to have good trade ties.
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But does the actual flow of money show us that other countries want to deal with Canada? And
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they're absolutely not. Again, Carney is having to replace the idea that he doesn't have actual
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successes, but he has theoretical successes in the future. Oh, countries want to do more with us.
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Well, but they're not. Oh, we're a strong economy with good, with great values and all this stuff.
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Okay, well, you can say that, but the actual current record says something different. You can keep
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saying that we're strong, but we just had a GDP fall in October. We are getting destroyed by the
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Americans when it comes to economic growth. That is good for our economy. It's good for jobs. It's good
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for the future. It's good for our independence from the United States. But it also brings an
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opportunity to help shape a world that is more dangerous, more divided. And we see an example.
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I'll give you one example of that. We are a member of something called the Coalition of the Willing
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to support Ukraine. So the United States is not a member of the Coalition of the Willing to
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support Ukraine. We are major European countries. Australia is in the United Kingdom as well.
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Yeah. Okay. Yeah. But America also, not even just by raw support, but per capita has given Ukraine
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far more support than Canada. So him trying to like one up Donald Trump, the Americans on this one,
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when they've been contributing the most is pathetic. Oh, but do you know that we're part of the
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Coalition of the Willing? Look at this button I have saying that we're part of the Coalition of
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the Willing. Like, it's just so symbolic what he's doing here. Oh, you know, symbolically,
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we're better than the Americans on this front. Okay, but they actually do more. That's the
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problem. Again, I keep saying again, but it's because it keeps happening. And again, again,
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Carney is replacing not he's trying to replace failures with fake achievements. He has not
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actually been doing more than the Americans. But he's simply saying, because I'm part of this
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coalition, I feel more like more, I feel like I'm their moral better.
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So we're helping to shape to create the possibility of a lasting peace possibility of a lasting peace
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there through security guarantees and other support that's and that type of coalitions,
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different countries coming together on different issues. I think we're going to see more of that
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Canada with the right values and with influence because of we have what the world wants. I think
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we it's so generic. Like, I don't see anyone watching this who would be like, Oh, wow,
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we're in such a strong position right now because of Mark Carney. Now we have to get to him basically
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blowing off the idea of having of getting a trade deal signed with Donald Trump. It's just a very
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short 28 second clip. Have the tough negotiations, which we're having, have those discussions. And
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then if a good deal is there, yes, we will sign it. But if it's not there, we're not going to sign a
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deal. Just to be clear, there aren't negotiations underway now. There are not formal ones. But it's
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there's negotiations about negotiations. How's that? That's the way it works.
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No, but that's the way it works. That's the way it works in trade. So we're the scoping,
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the scoping of what's going to be in Kuzma, how it's going to be arranged and that's going to
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Sorry, that's not the way it works. That's utterly pathetic. We're having negotiations about
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negotiations. This has been my thing with Mark Carney the entire time. He keeps saying,
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I'm not going to sign something if it's not good for us. Nobody thought that you're going to sign
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it. No one wants you to sign anything bad. The problem is, is that it seems like Carney has been
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unwilling to do real negotiations. Also, we had Doug Ford completely screw everything up with a
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stupid Ronald Reagan ad. But let's be clear, I don't think we were actually that close to signing
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anything. I think that gave just Donald Trump a good reason to get up from these, which is
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worthless fake negotiations and walk away from the table and hope that Mark Carney would try and
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chase him down and give him even more concessions. The thing is, every time we have given a concession,
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it was for nothing. I am not saying it'd be more conciliatory or tougher. I want them to be more
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coherent. If you're going to negotiate with the Americans, especially Donald Trump, you have to
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find a way to give them a win-win. Yes, Canada can win, but America has to win too. If anything,
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you almost have to let Trump have the idea that he won a little bit more than you. That's just
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because that's how Trump works. Frankly, that's kind of how all American politicians work, because
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they have elections far more often than Canadians do. They have elections every single year. Now,
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those elections are not always the countrywide congressional elections. Last year, it was just
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like Virginia and New Jersey and New York City and some few other places. But next year, all of Congress
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is going to have to go through an election. And Trump doesn't want to stab his own Republican
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congressman in the back by getting a deal that makes him look weak and makes their party look
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pathetic. He wants something out of it. Now, Carney just has to give him basically good theatrics.
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We could actually get to effectively a zero-tariff scenario if we were able to put something on the
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table. We could get something else in exchange. But at the end of the day, it has to look like he's
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defeated the Canadian tariffs, and it's far more fair for the Americans to trade with us.
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I'm not saying if Trump is right or wrong. It is immaterial. But again, Carney is just blowing this
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whole thing off of like, ah, you know, it's just how it works. Yeah, we're not actually negotiating
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on trade. We're negotiating about negotiating. I'm like, this was your big thing. This was like
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your only issue. And I can prove it. Here is a clip of him at an event when he was running for the
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Liberal Party leadership, talking about not only has he dealt with men like Donald Trump before,
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he has dealt with Donald Trump before. You soften him up. You soften him up for me.
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No, like what our strategy with Trump, and I've dealt with Trump in the past. He respects strength.
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He respects strength. Like a lot of bullies, he respects strength. And that's part of the reason,
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look, we got to build here for ourselves. But it's also to show him that we are masters in our own
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home, right? We're in charge. Yeah, that's not actually what happened. As we can recall,
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there's a difference between Trump respecting strength. And you can't try and make a fool of
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him either. Because again, he has his own domestic political concerns. And he's not going to make you
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make you make him look stupid before his party faces a big reelection in November 2026. He's in fact
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going to want to win out of this. And no, you're not going to be like, we're going to show him we're
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masters in our own home and tell him to pack sand, then he's going to come to us groveling,
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wanting to sign anything. That was like the way Carney was framing it to his own supporters.
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And that's why, in my opinion, he's been completely unable to sign anything. Because the problem is,
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is that he can't actually sign something that's realistic, because his own base is going to get mad at
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him because he let Donald Trump win. Yes, of course, you're going to have to let him win.
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You're signing a trade deal. Both sides have to go away feeling like they won something.
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And here is just one more clip I want to talk about of Mark Carney talking about affordability.
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Remember, this is all in the context of our per capita GDP continuing to go down. And in fact,
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raw GDP fell in October. My final topic is about affordability. The single biggest issue when I said
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I'm coming to interview you, and I asked people, what matters to you most? And they said the cost of
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living, hands down. There are so many people, as you know, millions of Canadians who are struggling
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to pay the rent, who have difficulty buying groceries because the cost of everything has
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risen so much. What is your message to them? Oh, don't worry, guys. Mark Carney gave you 1%
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back on the first $50,000 of your taxes, where you don't even pay anything on the first $18,000.
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You're saved. You have another $300 in your pocket. You're going to survive the winter.
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Are they, do they, do you just need to be patient? Is that what your message is?
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Well, it's certainly not. The first is absolutely understand the scale of this issue. And let me,
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and we have acted on it, and we will continue to act on it. And what an awful canned answer.
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First, what you need to know is that the issue, it has scale. There is a certain size to the issue,
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and you need to understand that. And then know that we're doing stuff, and we're going to continue
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doing stuff. It's like, did you not prepare for a cost of living question at all? Again,
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is this a disaster? Like he's falling on his face in the interview, and he just says something
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incredibly stupid, and he lights his hair on fire? No. But he's supposed to be the confident,
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stable, you know, CEO-brained type guy who just knows how the whole thing works, and he's going to
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solve the problems. And he's just, it's just kind of, all of his answers are hedging. It's basically
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attempting to spin failure as a big success, excusing failures. And right here, just basically
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assuring you, don't worry, we're thinking about it. We're working on it.
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Let me be more specific, which is that we had this huge surge in inflation after the pandemic.
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Right. And then the overall level of inflation is now back to roughly where you want it to be.
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Roughly where the bank should be. Oh, and by the way, we're not even growing at 2%. We've only grown
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1.7% this year. So in fact, we have inflation once again outpacing productivity.
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But the level of prices, that's different. The level of prices is still high. And on top of that,
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the food, the expenses of people who are less well off in the country are particularly high.
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Yeah. So the price of beef is high because of drought in the U.S. and challenges. Price of coffee
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has gone up, you know, dramatically. So the price of groceries has gone up considerably. So there is
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this affordability. So what are we doing? First off, we are. We would love if you would tell us,
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Mark. We cut taxes for everyone who pays taxes. Oh my goodness, 300 bucks. 22 million Canadians. It
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was the first thing we did as a government. And this is material, particularly for those less well off.
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Second thing we're doing is we have preserved all of the programs in a tough budget, budget where we had
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to take tough decisions, a budget where we're saving $60 billion, a budget where we're cutting
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10% of the public service. Oh, six? We're saving money, guys, in a budget where we saved $60 million.
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You would almost, by him saying that, you almost forget the fact that we have a $78 billion deficit.
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It almost makes it sound good, the way he's saying, oh, we saved money in the budget. We're cutting
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staffing. They're not cutting staffing. They are basically, they're doing this kind of attritional
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cutting where in the future, you can't hire more people and you're going to start kind of having
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your budget squeezed over time. But that's so over time, he's not even going to have to actually act
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on it in the near future at all. It's again, one of those like future promises that in theory,
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he doesn't even have to fulfill for like eight years. It's just, I guess it's an empty, it's just
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an empty initiative to try and save money. 20% of consultants in the last budget,
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we preserved rightly because these are fundamental. Child care, $10 a day child care.
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It's been a disaster. It's been a very bloated system that's hurt a lot of child care providers
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and caused many of them to shut down. National school food program helps 400,000 of our least
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well-off children we've made. Why do we even need a school food program? Why don't people just have
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more money in their pockets so they don't need the government feeding their kids? If you gave them
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an actual substantial tax cut, they wouldn't need this. That permanent pharma care, dental care,
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health care, the health care transfers to the Bronx, all the things that help on the margin.
00:22:43.960
Who in their right mind actually thought that the liberals were going to get rid of the health
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care transfers? Those have been around forever. Those have been around since like the 60s.
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Not yet enough. What we have to do as well is we have to look for other opportunities,
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increase competition, get prices down. We have to end fundamentally what we have to do
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is grow the economy. Yes, we have to grow the economy.
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And that's the part that's going to take time. And I think that's the thing when people say to me,
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well, how long is it going to take? Ask them how long it's going to take.
00:23:13.020
Well, look, it's we are doing a series of things.
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Here's OK. That actually really annoyed me from the interviewer. It's not her job to get involved
00:23:22.340
and say, well, you know, that takes time. Does it? It doesn't. Cut taxes like 20 percent across the
00:23:29.700
board, every bracket, corporate taxes, even take a point off of the GST. Do it all. You would
00:23:35.280
actually be having the economy shooting up massively. We wouldn't be growing this year at
00:23:40.780
1.7 percent. We'd be growing at 5 percent. We could be growing even more than that because
00:23:46.140
there's so many people who don't want to actually invest their money in Canada's own economy because
00:23:51.720
it's just not a very good fiscal bet at this point. It's a country with too many taxes,
00:23:56.380
too many regulations. It's just a lot of the money is going towards the United States. Just
00:24:01.260
that just is more competitive. And on world economics, it actually is all relative. If
00:24:07.200
you are the most competitive economy, you will gain way more investment than everybody else.
00:24:11.940
But Canada is trying to gain investment while also not becoming more competitive. We have done
00:24:16.760
minor things. At the same time, we're doubling the industrial carbon tax to get Alberta to get
00:24:24.100
Danielle Smith to sign that MOU where she gets a pipeline. She also had to basically agree.
00:24:30.260
Hit my microphone there. She also had to agree to a bunch more regulations and a bunch more
00:24:35.440
costs on the oil and gas industry. I don't think she actually signed it thinking it's going to build
00:24:40.160
a pipeline. She signed it to show that she's a willing partner. And then when Mark Carney betrays
00:24:45.760
her, she can come out and say, he betrayed me. He was lying about actually being serious about
00:24:49.680
building a pipeline. But the problem is, yeah, around every corner, every time Carney pretends
00:24:54.980
that he is trying to do something to spur the economy, you either find it's just a stupid
00:25:00.080
subsidy that's costing taxpayers more money, or he's raising some sort of cost somewhere else.
00:25:05.260
It's all so fake. And the interviewer jumping in here acting like, oh, it's going to take some
00:25:10.000
time. No, it isn't. If you just stop being incompetent, it would actually be growing very
00:25:14.360
quickly. And we'll continue to look for others that help bridge over that period of time.
00:25:20.500
But at the core is we have to grow this economy. And we have to grow this economy in a way that
00:25:27.640
makes it more independent, more sustainable, that works with provinces and works with indigenous
00:25:33.480
people. We have. And by the way, guys, more independent just means less with the Americans.
00:25:37.760
You can trade more with China, and that's being more independent, in his opinion. You can trade with
00:25:41.760
the Europeans, with African countries, Asian countries. You can trade with all of them.
00:25:46.040
That's being more independent because it's not the United States. But the problem is,
00:25:50.480
as we've tried to trade more outside of the United States, I think our exports outside of the U.S.
00:25:55.580
has gone up like 14%. But our U.S. exports are down like 8 or 10 or something like that.
00:26:01.520
And the thing is, if you know that we mostly 76% of our trade is with the United States,
00:26:05.720
that 8%, 10% reduction is way bigger than the increase elsewhere of 14%. It's basic math.
00:26:13.680
I wouldn't understand Mark Carney. I wouldn't count on Mark Carney understanding it, though.
00:26:19.260
We have to do all of those things. That's why we're in such a hurry. That's why we're doing
00:26:23.080
the major projects. That's why we're launching Build Canada Homes, which will be cheaper homes
00:26:28.280
Yes, because if you give somebody the equivalent of an amusement park concession stand,
00:26:33.680
yes, it will be a cheaper house. Of course, if you sell somebody less house, that house will cost
00:26:39.660
less. Although I still wouldn't count on it because it's the government doing it and they
00:26:43.360
still haven't turned out a single unit. So we don't even know what the costs are actually going
00:26:47.220
to look like. And he's pointing to the major projects office and his new major projects
00:26:51.860
initiatives. All they're doing is falsely pretending that they're fast tracking projects
00:26:57.140
that were already basically done anyways. Oh, the final phase, we'll just kind of sign that.
00:27:02.200
So it's approved a couple months early. It's like, okay, well, that's nice. I guess
00:27:05.840
that wouldn't be a bad thing. The problem is, it is a bandaid over top of a gaping wound of
00:27:11.720
an economic problem of not being able to get projects done. Simply fast tracking things that
00:27:15.860
are almost across the finish line anyways, is dealing with like maybe 5% of the problem.
00:27:21.180
But that's a lot of say is the last few words here and then we'll be done.
00:27:25.640
That's why we're striking all these trade deals internationally. That's why this job,
00:27:31.040
it's one of the reasons why this job where we started is relentless. It should be relentless.
00:27:36.720
And look, we're making progress. We got to keep on this track. We're in a stronger position than we
00:27:42.240
were nine months ago at the start of the year. But we got to keep going and we will keep going.
00:27:47.360
Are we in a stronger position? Like I genuinely don't even think that's necessarily true because we
00:27:53.480
just had later in the year a fall in the real GDP. Him pointing to the trade deals he's signing
00:27:59.960
internationally, these are nothing. It's like with the whole $70 billion investment commitment from
00:28:06.460
one of the Middle Eastern countries. No, it's not going to happen. All these trade deals that
00:28:10.700
Mark Carney signing isn't really getting any more goods exported from Canada or even imported from
00:28:16.420
those countries. There are vague commitments saying, hey, buddy, we should trade a little bit more.
00:28:20.920
That's pretty much all it is. But anyways, that should be it for this video, guys.
00:28:27.560
That was Mark Carney trying to put his best foot forward going into 2026. And it's not particularly
00:28:34.340
good. He just has nothing to really celebrate. Did you notice that many of his celebrations there
00:28:40.580
were just the idea that I've kept some Trudeau era policies around? Okay, that's a bad thing. He's like,
00:28:46.860
we're focusing on growing the economy. Well, it's not even outpacing inflation. Oh, we signed the MOU,
00:28:52.620
which might potentially get a pipeline, but it's going to be guaranteed to add all these other
00:28:56.920
regulations and taxes. Everything in the clip. Is this a new government or is this just Justin Trudeau's
00:29:04.160
government part two? Because it's feeling heavily like a part two rather than a new government.
00:29:10.080
But anyways, with that all being said, guys, like the video, share the video, subscribe. If you want
00:29:16.300
to join the membership program, it really helps to make the channel more sustainable for me right
00:29:21.060
under the video. You can hit the join button and make it so that I am less reliant on the YouTube
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algorithm for producing the show and making new content. But with all that being said, thank you