The National Telegraph - Wyatt Claypool - Liberals END Canadian Economy - Blame America!

00:00:00.160 Hey guys, Wyatt here, back on the bench outside that you all know and love. 0.99

00:00:05.900 Today we need to talk about something very, very stupid that the federal liberals did, 0.99

00:00:11.900 in particular our industry minister, Melanie Jolie. 0.99

00:00:15.640 So there has been this fight over the laying off of 500 Stelco steelworkers.

00:00:21.980 Cleveland Cliffs is the parent company, they are based in the United States.

00:00:26.020 They purchased Stelco back in 2024.

00:00:30.000 But because nothing can ever be the Liberals' fault, they don't actually want to acknowledge that Stelco has the right to temporarily lay off some workers because they can't ship any steel to the United States, which is kind of a big deal for most steel companies in Canada.

00:00:44.920 There is a domestic market in Canada, but you're not just going to be a steel company that only serves the Canadian market.

00:00:53.240 You would very quickly tap out on how much steel you can actually sell.

00:00:56.620 companies like Stelco would have been shipping around half of all their production into the

00:01:02.600 United States so naturally when there is a 50% steel and aluminum tariff in place you're not

00:01:09.240 really going to ship as much as normal and so you don't need as many workers to produce 0.99

00:01:14.380 well in liberal land that does not actually matter the Melanie Jolie put out this delusional

00:01:22.580 letter to Cleveland Cliffs saying that we have sent them a demand letter saying that they must

00:01:29.520 comply and rehire all these workers because it was in some vague agreement that she's never

00:01:35.340 actually put out publicly saying that when you bought Stelco back in 2024, you were going to

00:01:40.940 keep full employment. Okay. One, we still have not seen the agreement. And two, this plays into

00:01:48.560 exactly what mark warner said on the cbc the other day he is the very smart uh trade lawyer

00:01:54.960 who sometimes for some reason was allowed to come on to the cbc he pointed out well that turns the

00:02:00.320 canadian economy into a shotgun marriage if the if the invest i think if the investment canada act

00:02:08.160 or whatever if that ends up becoming a situation where if you were to buy a company in canada you

00:02:14.080 are forever forced to keep a certain amount of employees nobody will ever invest in canada if

00:02:19.760 that's true and that's exactly what melanie jolie tries to put across in this letter that she puts

00:02:26.320 out publicly again she does not actually show us that cleveland cliffs was not allowed to lay off

00:02:31.840 even temporarily any workers from stelco but in the letter she says back in 2024 it was a binding

00:02:40.000 agreement that if cleveland cliffs was allowed to buy up stelco that they had to maintain full

00:02:47.200 employment and could not lay anyone off no act of god no market changes in market conditions

00:02:53.600 changes this commitment that they have made she literally said act of god in the letter it's

00:02:59.280 completely insane i'm sorry so in this scenario melanie jolie would have cleveland would have

00:03:06.640 rather stelco when they were going out of business just shut down and had every single employee laid 1.00

00:03:11.840 off or maybe they would have nationalized it i don't know they're they're that stupid they 0.98

00:03:15.680 might have done something like that she would have rather stelco gone out of business rather 0.99

00:03:21.600 than cleveland cliffs coming and buying it and keeping everyone employed until market you know

00:03:27.600 market dynamics changed and they had to temporarily lay off 500 people during this trade conflict

00:03:32.480 they didn't know the trade conflict was going to happen most people did not know it was going to

00:03:36.240 to happen and they're still maintaining the majority of jobs at Stelco and 500 people have

00:03:42.340 only been temporarily laid off because they can't produce enough steel or they produce too much

00:03:47.840 steel and there's really no profit in overproducing for the Canadian domestic market that doesn't need

00:03:53.360 it. You're only going to produce more if you can trade into the United States and a 50% tariff

00:03:57.820 makes it completely uneconomical to produce that steel to send to the U.S. for a loss.

00:04:04.300 so this is really the position the liberals are in they're trying to effectively blame stelco

00:04:10.140 and cleveland cliffs for the bad economy it's that we have all these traitorous american companies

00:04:16.480 laying canadians off left and right it's like no it's a business they want to make money they're

00:04:22.280 not doing this to spite you they're doing this because employing these people right now without

00:04:28.040 out product to sell to the americans doesn't make any sense and let's remember this is a fight that

00:04:34.920 they're trying to have after the canadian economy in two months august and september lost a hundred

00:04:42.040 and ten thousand jobs and we're probably going to be losing even more jobs after october is over

00:04:48.840 the canadian government wants to have a fight with cleveland cliffs over 500 jobs that are only

00:04:55.320 temporarily gone because mark carney will not get in the room with donald trump and hash out

00:05:00.680 a trade deal i'm not saying that trump is the most reasonable man on the planet or that he isn't

00:05:06.120 somewhat erratic when it comes to trying to make deals with him he makes last minute changes he

00:05:10.360 wants some things that you really can't give them because it's kind of impossible or you know it

00:05:14.040 would be stupid for you to agree to it yes that's all true at the same time you just got to get into

00:05:20.040 the room and start hammering something out doesn't mean that it needs to be done next week that 0.99

00:05:23.560 That doesn't mean that you can't reject certain terms,

00:05:27.140 but do what the president of Mexico,

00:05:29.740 Claudia Scheinbaum, is doing.

00:05:31.720 Trump says something offensive.

00:05:33.540 He tries to get you to sign on to a deal

00:05:36.240 that's not very good.

00:05:37.460 You can say no.

00:05:38.520 You can say, I don't like that.

00:05:39.620 But you keep working at it,

00:05:42.340 except instead, Mark Carney keeps walking away

00:05:45.060 from the table,

00:05:46.020 completely ending any momentum we have towards a deal

00:05:48.580 because he's offended by the terms

00:05:50.140 that Trump put in front of him,

00:05:51.100 rather than actually trying to change those terms he just walks away killing our momentum and now

00:05:56.620 he's trying to fight with Stelco and Cleveland Cliffs over 500 workers when he's losing workers

00:06:02.640 left and right because our economy is overtaxed and overregulated and we can't get a trade deal

00:06:08.000 because we have no leverage because Carney refuses to get into the room and negotiate

00:06:11.720 in the long term for the long run not just these little short trade negotiation attempts

00:06:17.540 where he tries for five seconds and runs away.

00:06:20.260 He won't actually try and hammer out a deal

00:06:22.840 and he won't try and adjust taxes and regulations

00:06:25.480 to make us more competitive.

00:06:27.120 That's our leverage as a smaller economy.

00:06:30.280 No small economy has ever fought a trade war

00:06:33.180 with a bigger one and just gone, you know,

00:06:35.700 pound for pound, just punching back and forth and won.

00:06:39.200 You don't win that way as a smaller economy.

00:06:41.440 You lower your taxes and your regulations

00:06:43.480 and you become a better economic zone than them.

00:06:46.800 Yes, you're smaller, but per capita, you're a better economy to be in.

00:06:50.980 Right now, Canada is both smaller and per capita a weaker economy than the United States.

00:06:56.240 And we wonder why we don't have the leverage to negotiate with the Americans.

00:07:00.200 And I'm not saying that you need to be a per capita better economy in order to get a good trade deal.

00:07:04.880 You just have to be moving in that direction so that they know that we should be working with you guys.

00:07:09.780 Because we're going to be missing out if we aren't with Canada and we're going to be losing our businesses to Canada.

00:07:14.600 except right now it's the other way around, and Carney in trade negotiations is more concerned

00:07:19.740 about maintaining his China relationship than trying to get a deal with the United States 1.00

00:07:24.860 because Trump's such an unsophisticated, you know, buffoon and jerk. Okay, sure, maybe those things 1.00

00:07:31.240 are true. It doesn't matter. The thing is that we're losing workers left, right, and center,

00:07:35.500 and you can't blame it all on Cleveland Cliffs. You can't blame it all on Stelco.

00:07:39.460 it's in fact mostly your fault. We've been losing public sector healthcare workers and construction

00:07:46.040 all over the place. Manufacturing, healthcare, and I think it's also education are our main

00:07:52.300 areas of loss in this economy, as well as self-employed people. It's going to get worse

00:07:58.220 as we get into October. And mark my words, when the holiday hiring boom happens, like it happens

00:08:03.720 every year, Mark Carney is going to pretend like, look, I have let us out of the woods,

00:08:08.880 and we are, we are, we're back, baby, we just employed another 150,000 people in a single

00:08:14.320 month, and it's like, yeah, they work at the Hallmark store in the mall, yes, they work at

00:08:19.140 Chapters, yes, they work at Calendar Club, all those are legitimate jobs, but they're not permanent

00:08:24.460 full-time, all-year-round jobs, but every time the summer job boom happens, or whenever the holiday

00:08:29.920 job boom happens. He always pretends like he's the one who invented Christmas and the summer that

00:08:34.120 caused all these jobs to happen. But whenever the jobs start falling off, he ignores them. And then

00:08:39.220 he picks a fight with Stelco and Cleveland Cliffs. Like Melanie Jolie has made a complete fool of 0.95

00:08:43.820 herself in all of this. And the Americans going after her for, you know, election interference 0.98

00:08:48.880 are not entirely wrong. When you're trying to target tariffs to red states, and you're actually

00:08:55.300 running anti-Trump ads in the United States like Doug Ford did, they have a more legitimate case

00:09:00.340 of election interference than what we tried to, you know, what CBC and the liberals and the NDP

00:09:05.400 tried to claim when it came to the Alberta referendum. Did you see a lot of American money

00:09:10.000 trying to rig the vote, trying to sway the vote in the pro-independence side? I didn't see a dime

00:09:16.660 of it, and I'm an Albertan. The whole thing is just so stupid. We need to take personal responsibility 1.00

00:09:23.840 in this country. And I'm not saying you and I as Canadians. Obviously, you and I want the Canadian

00:09:28.120 government to lower regulations, lower taxes, and have a serious and coherent trade deal strategy.

00:09:36.020 But our federal liberal government, led by Prime Minister Mark Carney, is instead always trying to

00:09:41.560 find excuses and boogeymen to blame for all their problems. Mark Carney is not an economic wizard.

00:09:47.200 At Brookfield Asset Management, the only reason they made money was because they were good at

00:09:51.480 cornering the market on government subsidies he is a terrible businessman who is really good at

00:09:57.040 looking good he's really good at seeming professional but he has never actually

00:10:01.540 created a productive company based on its own products or output it's always based on government

00:10:07.220 grants tax breaks and subsidies and when you put that guy in charge of the canadian economy

00:10:12.640 what's he doing doubling down on tax on tax not tax cuts actually on subsidies and grants

00:10:18.540 You can't create an economy by just subsidizing the industries that are not functioning.

00:10:24.920 You will eventually have all these companies go out of business because taxpayers cannot keep them afloat forever.

00:10:31.440 Stelco and Cleveland Cliffs, you cannot shame companies into not laying people off if the market just does not allow for those jobs.

00:10:39.780 Canada cannot be a shotgun marriage.

00:10:41.620 The Canada Investment Act or the Invest Canada Act, like Mark Warner said, cannot be a suicide pact where if you invest in this economy, you are never allowed to leave.

00:10:51.560 You're never allowed to lay somebody off.

00:10:53.280 We just had an investment summit.

00:10:54.920 What kind of message are we telling any of those people by saying that if you lay off a single individual, we're going to come after you and potentially sue you in court?

00:11:02.640 But again, Melanie Jolie still has not actually materialized the agreement that says they will never lay off a single individual. 0.71

00:11:10.180 that sounds like a stupid agreement for a company to make you think cleveland cliffs would have 0.93

00:11:14.720 agreed to that after they just bought up a company that went under they estelco went under and 0.99

00:11:20.220 cleveland cliffs bought it and you think that they were going to agree to never lay off a single

00:11:25.440 person even temporarily and then saying that oh even enough an act of god or a market change

00:11:31.520 happens you can't lay anyone off all your money from the united states all your money from the

00:11:35.720 United Arab Emirates, all these other countries who are thinking of investing in Canada,

00:11:42.080 all those European countries, they don't want to anymore. If they find out, if they invest,

00:11:47.240 they buy up an old company, they start a new company, and they get any government grants,

00:11:51.120 they get any tax breaks, they are never allowed to lay somebody off. They're never going to come

00:11:55.300 into our economy because it looks like a basket case that is effectively a suicide pact with the

00:12:01.040 Canadian government. Because your first priority, apparently, is to make the Canadian government

00:12:05.140 look good rather than actually run a profitable business anyways with all that being said

00:12:12.340 hopefully this wasn't too much of a ramble hopefully you guys don't mind me making these

00:12:16.460 videos on the bench but i am literally just standing outside the campaign office for talus

00:12:21.160 brody so when i don't have a quiet moment in the office what i do is i just come out here and fill

00:12:25.500 my videos on this nice park bench beside it and then i hopefully don't know too many people trying

00:12:31.220 of walk by and you know look to like too much of a freak shooting videos out in public I'm always

00:12:36.140 very insecure about actually shooting videos in public because I hate influencers who walk around

00:12:39.740 like selfie sticks and whatnot and so I try and like stay as covert back here as possible but with

00:12:45.520 all that being said thank you guys for watching like share subscribe do all that fantastic stuff

00:12:50.540 consider hitting the join button I'll see you guys all next time

The National Telegraph - Wyatt Claypool - October 22, 2026

Liberals END Canadian Economy - Blame America!

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