When Mark Carney was hired by Prime Minister Justin Trudeau as his financial advisor in the early days of his administration, many believed that he was going to get Canada's economy back on track. Now, a year and a half into his tenure as governor of the Bank of Canada, things are not so good.
00:02:46.620So, yeah, all the anti-mega elbows up stuff is, you know, seemingly not working.
00:02:52.840It's seemingly not putting us to new heights like we had read in the Globe and Mail letter to the editor a few months ago back in January.
00:03:00.060This embarrassing letter to the editor where some guy was like, I have never imagined we were going to be at high like at heights this high.
00:03:07.100we're on a new road to like you know wherever like nirvana or something like that no we are not
00:03:14.020everything is sucking over the last couple of months i've been trying to give a lot of advice0.52
00:03:19.300to pure poly as conservatives because i think a major factor as to why the liberals are currently
00:03:24.260leading in the polls is that the conservatives have a very indecisive or vague agenda you can't0.99
00:03:30.380just stand up and say the liberals are sucking at their job because well of course they suck at1.00
00:03:34.960their job. What are you going to do differently? And Polyev has been improving on that front,1.00
00:03:39.820at least on the trade issue as of late. He is giving good economic proposals. He's giving good
00:03:45.220proposals on how to get to a trade deal with the United States, which upgrades him from simply
00:03:50.360naysaying the liberals to saying, you guys are doing a bad job. Here is a better plan. And then
00:03:54.900if Carney rejects those better plans, he looks like a complete moron because he hasn't been able0.99
00:03:59.300to do a good, like get the deal signed yet. So why are you saying that Polyev's plan is bad?0.97
00:04:03.380why not give it a try? But the biggest factor in the conservatives catching up to the liberals
00:04:09.340is the fact the liberals eventually set everything on fire. Liberals still ahead in the polls right
00:04:15.300now. I don't think that will hold up for another month and a half. I think the liberals are going
00:04:21.420through like their second honeymoon right now, where they were artificially doing well in the
00:04:25.640polls simply because Carney and Trump were at odds again. And for some reason, liberals love
00:04:30.640it whenever they're fighting, even as the economy is just on fire around them. They will ignore that
00:04:36.400just to watch Carney deliver just some pretentious speech at the World Economic Forum. Apparently
00:04:41.620that's what really gets their goat and caused Matt Jenneru to cross the floor from the conservatives
00:04:46.680to the liberals was Mark Carney's brilliant speech at Davos, which was just microwaved old
00:04:52.340campaign rhetoric from him he had been delivering a year ago. But suddenly it gave Matt Jenneru
00:04:57.220this road to Damascus moment. And now he's going to go join the liberals. But anyways, in this
00:05:02.640video, I want to go over Mark Carney reacting to his own bad economic numbers, because it's been
00:05:09.140embarrassing. Mark Carney doesn't actually really know how to justify himself here. Like he doesn't
00:05:15.360have any, you know, promised, you know, better future that his policies will eventually lead to.
00:05:21.140They were already supposed to be boost bolstering the economy right now. He's not saying give it a
00:05:25.800year. He's not saying, you know, yes, it's early going. A lot of what I'm doing, it's two years
00:05:30.720down the line, we are going to see the gains. No, no, he was pretending, he was trying to spin
00:05:35.640previous data as being good for the country. Oh, wow, we had 150,000 job gains in December of 2025.
00:05:44.980It's like, yeah, those are temporary holiday jobs like the economy takes on every year. And then in
00:05:51.280January and February, it's been a bloodbath of just jobs leaving the economy left and right.
00:05:56.460And we're not talking about just people exiting who are in those temporary jobs leaving. Even
00:06:00.840when you completely factor out the temporary seasonal workers who came into the economy and
00:06:06.340left, on net, we are losing massive amounts of people who are not seasonal workers. They are
00:06:12.320people who are trying to work all the time, part-time or full-time workers. It's ridiculous.0.98
00:06:17.320us. So in just a second here, I want to show you Mark Carney's response to all this. But before we0.84
00:06:22.760get into it, I just want to remind you guys that if you like the show, make sure to leave a like
00:06:27.100on this video, subscribe. If you are not yet a subscriber, hit that notification bell, leave a
00:06:32.160comment about with what you think about this entire mess. And then if you want to help support
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00:06:41.760contribution per month because YouTube, for some reason, has decided they want to execute my
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00:06:51.560bit of money per month, it helps me keep this channel more sustainable over time. Anyways,
00:06:57.100let's jump into this first video of Mark Carney reacting to the poor job numbers. This is just a
00:07:02.74010 second clip, but we'll be getting into some longer ones in just a second here.
00:07:06.620If you look at the performance of the labor market over the course of
00:07:10.640the last six months, we've created over 80,000 jobs net over the last six months.
00:07:16.800really, we have created 80,000 jobs net over the last six months. I don't need to be an economist
00:07:26.280to tell you that's not true. Because he was ballyhooing about the fact that he had a bunch
00:07:32.080of job gains in December that were completely wiped out in January. And even when you factored
00:07:37.060out the seasonal, we lost like, I think it was like 80,000 or 120,000 or something like that,
00:07:42.44090,000 in January and then we lost lost another 83,000 net we're not just saying we lost 83,000
00:07:49.120and he's saying we gained 90,000 so we technically have a net gain of seven no no on net including
00:07:55.480the job gains when you include job gains and job losses on net we're down minus 83 job 83,000 jobs
00:08:03.200that's embarrassing again Goldman Sachs guy here how is this even possible here here is the longer
00:08:10.200version of that clip of Carney trying to justify his time in office so far if you look at the
00:08:16.120performance of the labor market over the course of uh the last six months uh we've created over
00:08:21.80080 000 jobs net over the last six months the united states has created 6 000 jobs okay the
00:08:27.720united states 11 times the size of our economy that that is not true i'm going to tell you that
00:08:35.720is not true now maybe the american economy has only gained very few jobs but they've been gaining
00:08:43.080jobs we have been losing them and there are going to be elbows up people out there like laura babcock
00:08:48.760who are going to eat this stuff up and assume like oh yeah no canada number one canada number
00:08:53.160one carney said that we've been gaining jobs massively we have not uh wages are growing at
00:08:59.4804.2 percent faster wage growth uh in years uh unemployment 6.7 percent is lower than the peak
00:09:07.080when i the level when i i came into uh came into office a year ago there's no question though
00:09:13.960because it goes it's lower than the peak that's not an accomplishment this is like every time
00:09:21.240people look at crime data and they say well we're not at the worst level so we're not we're not like
00:09:25.880the 1990s levels of crime calm down it's gonna be okay okay i don't care about measuring our current
00:09:34.520crime rate to the worst i don't care about measuring our current unemployment rate compared
00:09:39.960to the worst and it's like saying oh you know it's down from the peak yes because the peak was during
00:09:45.800the the the trade crisis where people thought we were going to have everything tariffed and
00:09:49.480every single trade deal is going to be ripped up that was like 7.2 percent or so and we're down to
00:09:54.760to 6.3%, 6.7%. 6.7% is horrific. Does this need to be said? That is horrific.
00:10:03.460It was to the first part of your question. I'll move to that, which is that given the scale of
00:10:08.660the trade actions, the uncertainty that is associated as well as with the trade actions
00:10:13.280by the United States, that that is causing, you know, big adjustments in the Canadian economy.
00:10:20.460And that's why we're making major investments across a whole range of areas.
00:20:25.480So he's flailing around and just reciting a bunch of non-promises because all these things that he's been approving, all these non-accomplishments, he didn't do anything because all these projects were already pretty much all approved.
00:20:38.220and the one that was actually scratch a brand new one happened to be tied in with brookfield which
00:20:42.960is really sketchy you know i'm not going to make a comment about that or anything i think you can
00:20:47.320make your own conclusions about why that's not ethical but all these projects were mostly like
00:20:51.760at their final stage and he's fast-tracked them by like a couple weeks most of them were already
00:20:56.480massively behind schedule so he's not actually creating any gains he's like slightly stopping
00:21:01.820the bleeding from mr carney i just want to go back to a response you had to a question about
00:21:07.400Canadian job losses. Earlier today, you primarily talked about macroeconomics, the major projects
00:21:12.920office, which has yet to actually approve the project, and some more things the government
00:21:16.900has announced that are going to be more medium to long-term projects. But what's your message
00:21:21.700to the 84,000 additional Canadians who are looking for work right now, who are worried
00:21:26.220about their bills today? Well, the first thing is that any job loss, of course, is a challenge
00:21:33.960for the individuals for their families um and what's important is that we're putting in place
00:21:38.920uh not just the measures for the long term by the way i would don't have time to go through
00:21:43.560all the elements of the premise that uh aren't exactly uh accurate what premise but people
00:21:49.320haven't been losing their jobs that net job losses aren't like that net job losses aren't
00:21:53.400terrible in january february the job gains we were celebrating back in the holiday season were
00:21:59.500obviously fake and they were temporary like oh there's a there's a problem with the premise of
00:22:04.900the question as in he's not gonna he's not gonna use your propaganda you've net created 83 000
00:22:10.640jobs since you became prime minister shut up oh my goodness uh there in terms of approvals and
00:22:16.060moving forward uh but also that we're providing uh support in moving the economy for it here's
00:22:21.660where the subsidies that's what he means he means he has subsidies that he is putting into the0.61
00:22:27.020economy and we're supposed to give them a pat on the butt for it. The economy is today. Well,
00:22:31.380we've lost jobs. We've also created jobs. Well, we have taken steps immediately to help Canadians.
00:22:38.340We've lost jobs, but we've also created jobs. That is like saying that is technically true.
00:22:43.180If you lost 83,900 jobs, but you also created one job, that is technically true that we've
00:22:49.120created jobs or at least two jobs to make a plural. In terms of the tax cut for 22 million
00:22:55.060canadians that is starting to take effect now the income like 250 bucks for the average person
00:23:00.900if you're like a combined income family i guess it's like 400 gained overall who's who's dancing
00:23:07.660through the streets because you got 400 bucks back tax cut there uh providing uh groceries and
00:23:13.760essentials benefit to canadians so the canadians uh most affected that's uh a benefit uh that
00:23:20.400reaches millions of Canadians, including up to about $1,400 over the course of a year for a family
00:23:26.780of four. There's other measures that are coming that would provide immediate support. And the
00:23:32.760government is very focused on growing this economy and part of how we're going to grow this economy.
00:23:38.040Yes, it's immediate measures, as I've just indicated, but it's also getting the confidence
00:23:43.240and the investment in the country, a country that's more independent, that's diversifying our
00:23:49.800partnerships that's building first and foremost at home oh my goodness he's just going back into
00:23:54.680campaign rhetoric i think that there is a falling off the cliff moment coming for mark carney not
00:24:01.720like he's going to go down he's now going to be down on the conservatives by like 10 points
00:24:05.080but there is a time when it just becomes he had a big artificial boost because of trump in january
00:24:10.220and february i think past that he's going to be having a tough time being able to keep people
00:24:16.000engaged if the job numbers keep being bad eventually economic realities catch up with him
00:24:21.940or are going to catch up with him and it's going to be very difficult for liberals to be snooty
00:24:26.520about the fact that you know well do you what you do you like donald trump you're not voting0.76
00:24:30.140liberal what do you like donald trump the economy sucks so what are you going to do with that like0.83
00:24:34.540if you have liberal friends don't be rude don't be like snarky about it but just ask so what metric0.94
00:24:41.380are you actually evaluating this guy on because i have no clue what he's actually accomplished
00:24:46.060I didn't even give him the immigration lowering.