Liberal Finance Minister FAILS basic economics!
Episode Stats
Words per Minute
176.70692
Summary
Wyatt Claypool talks about Canada's economic growth in the first quarter of 2019, and why our finance minister is just as financially illiterate as Chrystia Freeland. Also, why we need a stable hand on the economy.
Transcript
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Hey guys, Wyatt Claypool here. I apologize for having ever said that Francois-Philippe Champagne
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seemed like a professional. He is currently our finance minister in Canada, and from the surface
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level, it seemed like he'd maybe be one of the more serious people in Mark Carney's cabinet,
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but no, the man apparently doesn't understand economics 101. Check this out. He says,
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Canada's economy grew by 2.2% in quarter one, above market expectations and among the strongest in
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the G7. We're building Canada strong. Now, if we grew by 2.2% in the first quarter of 2025,
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we should be making Francois-Philippe Champagne and Mark Carney like the gods of Canada. 2.2% in one
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quarter. That's not actually how that works. No, no, no. The quarter is only, drumroll please,
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0.5, 0.5%. We had a 0.5 quarterly change. Now, if the government keeps that up, it must be like 0.52
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or something like that. But if the government keeps that up, it can get to 2.1% for the year 2025,
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but this is the first quarter. And Francois-Philippe Champagne doesn't understand that. The most basic
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economic concept that each quarter gets added together with its growth of the economy for the
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overall growth of the year. We are not one of the best economies in the G7 by far, especially if you
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look at things like per capita GDP growth. We have terrible GDP growth per capita because, in fact,
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it's not growing. It's been shrinking for, I think, about six quarters now, or actually might be eight
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quarters at this point. Every single quarter, we are not just not growing as fast as other countries.
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We are like the one country on the planet that GDP is going to the other direction on a per capita
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level. And it's because of crazy mass immigration that, yes, our GDP is going up because we're adding
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more warm bodies to the economy who come with some amount of money and they generate some amount of
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productivity. But the median person is doing worse and worse because of the macroeconomic decisions
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of the liberals, which includes Mark Carney, who was financial advisor for the government or the
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economic advisor for five years, as I will keep saying for from now until the end of time.
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Kirk Lumimov here, who I'm friends with, he's a really good commentator on X. He says,
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Canada's finance minister, Francois-Philippe Champagne, is just as financially illiterate as
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Chrystia Freeland, already spreading misinformation. Oh, and Canada's final domestic demand didn't increase
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for the first time since the end of 2023. He doesn't know what is going on. And yeah, that's
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that's a big deal. Canada's final domestic demand didn't increase for the first time since the end
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of 2023. So while, yeah, we're exporting a little bit more, so our export markets are growing a little
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bit or the GDP is higher because the government's spending more money, actual domestic demand in our
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economy has not increased. People do not want more product. People are not looking for, you know,
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to spend. They are spending the amount that they're currently spending. And other than the government
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or other than foreign countries we're exporting to, the actual amount of things being bought is
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just flatlining, despite the fact the population is going up at the same time. That is abysmal.
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This is why it's so silly when you had people during Canada's federal election wanting to vote for
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Mark Carney liberals because they're serious. They're serious minded, unlike those conservatives
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who seem wild and Trump like. I would like it if our government was a little bit more wild and
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Trump like because at least they would actually, you know, do something different. These people think
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that stability in doing the wrong thing is somehow like a good plan. Oh, well, guys, we're we need to
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keep a stable hand on the economy. The economic performance has sucked for years. So what do you mean by
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a stable hand? And that's what Mark Carney was pitching himself as that he is going to restore
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confidence in Canada's economy by doing what he was doing for the past several years. That's why
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his spending plan is literally Justin Trudeau spending plan from 2024 copy and paste into 2025
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plus more dollar signs, more dollar signs for things that aren't going to make people's lives any better.
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You really think people are going to have more fulfilled lives because the CBC Canadian Broadcasting
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Corporation got a 150 million dollar a year bump? What? They're going to create three more gem sitcoms
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that nobody's going to watch? I guess that would I guess that's going to make those actors lives better.
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But, you know, I could kind of care less. Anyways, that's it for that particular issue. But I do want
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to bring something up that's not about this economic issue. And that is we are now in virtue signaling
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month yet again. June has started, which is Canada's national virtue signaling month.
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And I just wanted to do a shout out to one of the independent MLAs I work with in British Columbia.
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I didn't even know he was going to post this because, you know, in our little small independent
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caucus in the BC legislature, we don't tell people what to post at all. And Jordan Keeley came out
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swinging this month against all of the nonsensical virtue signaling that is going on in the month of
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June for pride and whatnot. Jordan Keeley says government doctrine. I'm sorry, but I'm just done
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with all this woke indoctrination. Be whoever you are and be proud, but expecting people to have it
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forced into their face for a month or a season or for the whole year, please don't because this is
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absolutely ridiculous. How about the federal government fulfill its commitment to veterans
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and appreciate them for the year and give them the help they need and not just offer them made.
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Wow. Just wow. And I absolutely echo what he said there. As I also said on Twitter,
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the government, the Canadian government is quite literally doing pride season now.
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The thing is the slippery slope is not a fallacy. It's a prophecy. Every single time people have said
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they're going to go from pride week to pride month, and then it's going to go to pride season,
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then pride year. It has been tracking absolutely to a T. Every single, they used to do pride day,
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then it was week, then it's month. Now it's season. And it was already season before this year,
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because every single city apparently has its own pride week outside of pride month,
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but it recognizes both of them. It's just fussy and ridiculous. And obviously this is not something
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the government should be doing. Do whatever you want. But having institutions endorse it and spend
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taxpayer money doing it is insane. I guess I actually am snaking back to the issue of economics.
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Every time I always hear people fear mongering about cuts or even conservatives saying you can't run on
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cuts because people don't like cuts. People love cuts. Do you think people wouldn't want to cut all the
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DEI spending that's going into the June virtue signaling month? 100% people would cut that
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immediately. But the thing is, you will get basically cowardly politicians or liberals in
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conservative parties arguing not to do it. Because there might be this small interest group out there
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who will get mad at you. Who cares? They're not going to vote for you in the first place. And even if
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they were going to vote for you if you did what they wanted, you shouldn't. Because what they want you
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to do was the wrong thing. Spending taxpayer money on garbage. I should just read this a little bit.
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It's absolutely ridiculous. But pride season, and this is the government of Canada by the way,
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pride season is a term that refers to the wide range of pride events that take place over the summer,
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June to September. Is September even summer anymore? When 2SLGBTQI plus communities and allies come
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together to spotlight resilience and celebrate the talent and recognize the contributions of,
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and they're going to use the acronym again, I guarantee it. Guys, I'm going to tell you,
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if anyone in the conservative movement ever uses that full acronym, do not trust them. They are
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captured. I have listened to other people and even conservative commentary that will deploy that
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every once in a while in like their own personal lives, or sometimes even in videos like kind of way,
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you know, in deeper in a video. And I'm like, why did you just use that? That was really weird that
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you just used like the government official woke version of the acronym. But whatever,
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it doesn't really matter to me, I guess that much. But I want to highlight one other thing because it
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also has to do with BC politics. And it's a great example of how woke infiltration happens in parties.
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So this is something that happened back on June 8th or yeah, June 8th, 2024. This is before the BC
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provincial election that happened later that year in October. Brian Burgay was one of the candidates
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that ran for the BC conservatives in the riding of Vancouver Langara. He's a great candidate. I wish
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the party hadn't silenced him during the election because he's funny. He gets a lot of attention on issues,
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and he's great at making arguments. He's great at winning political battles and debates.
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And he commented on this post of a NDP MLA who's still there, unfortunately, Spencer Chandra Hubert,
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who says, I love this truck. And it's next to a fire truck in the city of Vancouver that has the
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Pride Progress stuff on it even has, I think, an indigenous pride symbol on it around the fire,
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you know, the fire department's logo. It's ridiculous. It's a waste of taxpayer money.
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And I know Brian. Brian's not a social conservative at all. But he still says,
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I prefer when the police and firefighters don't get political, but that's just me, I guess. And yes,
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this is political. Don't even try. And he is absolutely right. And do you know who agrees with
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Brian? It's not any particular person. It's 80% of people. 80% of people obviously agree with
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Brian whether they vocalize it or not. We all know in our own personal lives, there's not that
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many people who genuinely like taxpayer money being wasted on this. And a lot of people like
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when people call it out. But Brian today posted this. That highlighted what the kind of failures
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of the BC Conservative Party in their failure to actually basically take on the woke mob.
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Brian said, It's Pride Month. It means it's the time of year where the BC Conservatives hide. Last
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year, I said a fire truck shouldn't display a political sign, and I almost got removed as a
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candidate because it upset our new woke star, Eleanor Sturko, who is currently the MLA from, I believe,
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Surrey. What is it? Surrey Cloverdale. I think it's Surrey Cloverdale. Yeah. The party also told us not
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to say anything about Pride the whole time. Don't expect anything from this party over the next 30
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days, unfortunately. I maintain my position that the police and firefighters shouldn't be political.
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And yes, displaying the Pride flag, especially the modern one, is political straight up. And he,
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again, is absolutely right. And I remember that that happened at the time because I wasn't working
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for the BC Conservatives in any capacity at all at that time. And I reached out to their executive
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of the campaign and of the party because I wanted to tell them, guys, what are you doing? Stop telling
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Brian to shut up about this. Because I had known in the background that Brian said that he wasn't
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allowed to speak on this issue. And they told him to basically go off of social media for a while.
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And I'm like, why? Everyone agrees with Brian. And I legitimately had someone from the BC Conservative
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executive say to me, well, we didn't want the controversy and the CBC threatened to write an
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article about it if we hadn't told Brian to log off. And I'm not sure if that's exactly how it happened,
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because it sounds strange that they told me that the CBC was threatening to write an article. But even
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at the time, I told them, make them promise to write an article about it. Make them promise to write
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two. I want them to try and attack Brian because guess what? Anyone who reads that article of going
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after a BC Conservative candidate, it was very unfortunate Brian didn't win. He was like only
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a couple hundred votes short of winning in Vancouver Langara, which it wasn't showing, oh,
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see, he was too controversial to win. That was like the closest riding in Vancouver that they didn't
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end up winning. They only won one Vancouver riding that was Vancouver Quilchina, where Dallas Brody is
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currently the independent MLA for. But Brian could have won that riding if the party let him lean
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into that controversy. And the thing is that 80% of people, if they picked up an article from the CBC
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or the TIE or Press Progress or anyone attacking Brian for making that tweet, even if it was attacking
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them and it was framing it as badly as possible, most people would read that and they would say,
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well, he's kind of right. And that's what you're going for in politics. You're trying to connect with
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people who think you're right. It doesn't matter if people attack you. If it gets what your message
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is out there, people aren't going to change their fundamental beliefs just because the CBC is telling
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them what you said was bad and controversial. Most people are going to read and open the paper or
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read the article online and say, well, you know, Brian's kind of right. And they're going to be more
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likely to vote Conservative. But we have so many people in the Conservative movement across Canada
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who don't understand thing one of connecting with your supporters in the public.
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Anyway, so that's it for me today, guys. I know this video actually turned more into like
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silly virtue signaling Pride Month stuff than the economic stuff I talked about at the start. But,
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you know, you just have to title the video off of something that's easy. And I know if I titled it
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off of the second part of this video, YouTube would have probably not distributed the content at all.
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And I am beholden to the way that YouTube runs its algorithm, at least to a point.
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Anyways, though, but since that's it for me today, guys, I just want to remind you,
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if you like my content, make sure to drop a like on this video, leave a comment on what you think
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