True Patriot Love - Canada's GDP： Recession or Political Spin？ The Truth Behind the Numbers

00:00:00.000 today was my lucky day i was in studio and i was able to do a podcast earlier with anthony fury and

00:00:22.520 mike wixon and i asked them to stick around because quite frankly i had an issue that really

00:00:28.560 bothered me over the weekend and i wanted to talk about it and i wanted them to kind of bend an ear

00:00:33.360 and i wanted them to listen to the concern so friday i'm getting ready for a big weekend you

00:00:38.840 know all happy getting packed up ready to go long weekend labor day ready for some fun and i look at

00:00:45.560 the news and it says gdp came in and it's basically shrunk by 1.6 percent and then i start looking at

00:00:53.480 the headlines and the headlines i gotta take off my glasses can i gotta read them to you canadian

00:00:58.460 economy shrinks 1.6 percent in the second quarter as u.s tariffs squeeze exports canadian gdp

00:01:06.920 shrinks in the second quarter but economists aren't fretting recession yet right on the verge of a

00:01:14.100 recession trump terrorist slam slam canada new gdp numbers show canada's second quarter gdp

00:01:21.340 contracted 1.6 percent sparking fears of a looming technical recession so now we're in a recession

00:01:29.720 right so and you know you guys have been in media way longer than i have so i'm looking at this and

00:01:35.900 i'm thinking friday right we dropped the gdp numbers right we send the message to the whole nation

00:01:43.540 that watch out we're in a recession you know we have another quarter then we're going to be in

00:01:48.380 recession we have to take recession measures what the heck are we doing guys like we're well do you

00:01:54.000 think that they were actually sharing this with the nation on a friday before a holiday weekend

00:01:58.400 i think they were duly burying this uh at the last week in a summer maybe maybe i'm wrong yeah but then

00:02:06.600 to paul's point thinking it over talking it over on the long weekend it's also given people something

00:02:11.240 to talk about from the family barbecue circuit so it's an interesting one really what what what the

00:02:17.920 push here is in terms of this adding the trump factor onto it we know whether it's in ontario

00:02:23.220 politics there federal politics everybody loves be scared of trump be worried don't worry about what's

00:02:28.740 going on over here don't talk about the economy here let's talk about all the trump factor whatever

00:02:33.140 you think of the guy like him or dislike him there's a slight of hand trick i think going on in the way

00:02:37.980 we we talk about this well is it you know we're going so now so this is interesting so coming out

00:02:43.840 of the weekend we're having a meeting with our cabinet to talk about going into the house on

00:02:49.680 september 15th right no budget has been dropped we haven't seen the annual report for 2025 so is it

00:02:59.600 softening us up for hey you know what the results might not be that good but it was done to save you

00:03:05.080 right so now if you're going to avoid a recession you know we need to make these expenditures we need

00:03:09.780 to do those things i'm like okay enough already do we really need to do this anymore and i know

00:03:15.400 governments do it you know if i have bad news i drop it at christmas i drop it before vacations i drop

00:03:20.680 it before but aren't we getting a little old for this isn't this kind of haven't we played this game

00:03:24.980 and i know like that's a political game that is played on and on again but you know it got me and i'm

00:03:30.920 thinking oh my goodness i cannot believe we're doing this again so i uh it's so funny that you

00:03:36.520 say this because i still maintain and i've watched uh uh mayor olivia chow i've watched it happen in

00:03:42.820 other municipalities at the municipal level where laws are changed at the very last minute on a friday

00:03:49.280 they're announced the vote is taken in private and suddenly we're into the weekend when you don't

00:03:55.000 have a hope of getting your counselor or your mp or whomever you've received bad news here's bad news

00:04:02.660 good luck have a nice weekend exactly so i jumped and nick if you go to the next slide so i right away

00:04:08.680 and my poor wife she's probably wondering where i went right away i jump on my computer and i i go

00:04:14.700 go to the next slide nick the i go to it and i say to myself okay like if i look at the numbers

00:04:20.900 and i'm trying to think why did it go down so right away my my accounting break goes on i said okay

00:04:26.480 went down 1.6 percent right and this is kind of a uh uh quarter over quarter analysis that's how they

00:04:33.600 do the gdp analysis and i think okay so what went wrong right because last quarter we had record

00:04:41.180 quarters right we had records so we were doing two percent uh gdp growth month on month and where

00:04:47.880 did we go astray so of course right business investment down well it makes sense business

00:04:55.120 investment right now based on the tariffs i and i agree on the tariffs analysis goes up and down like

00:05:00.260 a toilet seat right donald trump says one thing we all you know we all run through reactionary yeah

00:05:05.580 you know i hate this quite frankly you know we get these news reports uh there's a discussion

00:05:10.940 happening today on tariffs right i'm like okay all right pause don't open the new plant yeah

00:05:17.380 you know you're like why either they need the product or they don't yeah now i found it funny

00:05:22.300 because you guys you know you guys saw it too right after they make the friday announcement what happens

00:05:28.340 in the u.s well they announced that he lost the court decision right yeah so for trump's tariffs in the

00:05:34.820 first place they mean nothing why why how do these numbers reflect so badly on us doing what we do as

00:05:41.320 canadians i hate to say it we overreact i think a little bit yeah can i go off on a deep end here

00:05:47.340 and i want to ask you as as the accountant here so we've talked before about immigration challenges

00:05:53.520 creating economic challenges for the people who are newly arrived and for other categories of people

00:05:59.360 i feel like i know that more and more people are operating off the grid in the way they conduct

00:06:05.880 their their economics their business their jobs both like decent people just off the grid and

00:06:11.140 then organized crime proliferating massively how accurate are these numbers great question how much

00:06:17.800 of a black market gdp even is there well the interesting so you know the interesting thing is

00:06:23.740 it's a blunt tool so and if you look at gdp so gdp was something it's interesting because gdp was

00:06:31.460 created after world war ii they started tracking gdps around the world to get a kind of a base you know

00:06:37.480 well-being of the world but it doesn't gdp itself is not a good indicator of how countries are doing

00:06:44.080 because it's not foreign exchange or inflation adjusted right so you know i i started kind of

00:06:51.280 digging in over the weekend because it was bothering me i'm thinking why the heck are we still

00:06:55.240 reporting gdp why are we calling recessions on gdp and quite frankly our gdp has not been super

00:07:03.420 great for years so it was this isn't a new we're trying to make like this is a new uh uh we're in a

00:07:10.960 downturn yeah yeah that's been created because of tariffs and everything else we have been in a

00:07:16.560 non-productive cycle for quite a long time and you know i've talked about it with with both of

00:07:22.260 you on different occasions but the real real standard to look at is gdp which is uh purchasing

00:07:30.120 power parity adjusted so that's one where you actually go and you take a look at your uh basket

00:07:37.140 of goods for a country and then you take out foreign exchange and you make it like a common dollar

00:07:42.540 and you inflation uh uh adjust it and then you come to basically a a dollar to dollar or apple to

00:07:50.560 apple comparison so because gdp comparing between countries quite frankly is is has a huge foreign

00:07:57.000 exchange swing based on currency makes sense values so really not a good indicator you can inside a

00:08:03.500 country you can look at it but it's a very basic indicator so but we use it kind of for these giant

00:08:09.240 statements that try to shift us to how we're going or whether we're going to recessions well you know

00:08:14.000 what i got to tell you so and this is a crazy story i'm in florida right and i'm uh have six businesses

00:08:22.520 in the panhandle of florida and i'm cooking life is good and i'm doing really well and all of a sudden

00:08:31.800 i start to notice uh some weird real estate happenings you know people are buying multiple

00:08:38.920 condos and the unemployment rate is going up but gdp is looking good right gdp in america is growing at

00:08:47.240 one two percent every quarter i'm thinking wow well okay you know i'm younger you know maybe more

00:08:53.060 i'm naive i'm thinking man like it is pretty good right i think i'm okay uh i'm taking uh i'm levering

00:09:00.080 myself to buy more businesses because i'm thinking that's the right thing to do because i'm gonna

00:09:03.900 a hot turn on this business it's the right time to be running this business and so i get up to six

00:09:09.980 licenses and things are moving and canada is showing a downturn in gdp so i'm sitting there

00:09:17.960 i'm looking at saying wow i'm glad i left canada you know i'm now down in florida i got everything

00:09:24.700 happening the mortgage meltdown hits right we get wiped out i get a phone call from the bank of america

00:09:33.880 and a banker is a personal friend of mine uh went golfing with them ate dinner with them knew his

00:09:40.720 family so i'm really sorry paul he says i gotta call all your loans business personal everything

00:09:47.340 and you have seven days to pay everything wow right so i come back to canada i basically

00:09:55.380 lever sell whatever i can everything i go back and i try to keep as many businesses as i can

00:10:02.420 my partner my business partner is from florida he's doing the same thing and we're running like

00:10:07.700 running like crazy um but you know the gdp indicators were all wrong right because we saw

00:10:14.500 you didn't see that on the horizon no it's a number of factors so the top line number says you're doing

00:10:18.940 great but the banker says we're closing shop we're closing shop and we were done right and i'm like

00:10:24.040 man that really sucks and mark says to me he says well welcome to america right i said no i'm not 0.78

00:10:28.660 welcome to america the lesson i learned quite frankly it's a number of indicators right so 0.98

00:10:34.020 you know if you're unemployment if you're housing all these things got to be added up you know

00:10:39.280 is it look you know great in canada right now you know i think we got to be concerned um but i think

00:10:47.740 you know putting out something about gdp before the long weekend without looking at the other factors

00:10:53.520 and talking also saying and this this isn't really a recession so just so you know nobody said

00:10:58.900 recession well it's funny bloomberg you know the the only one that was the anti-recession over the

00:11:04.240 weekend was bloomberg right so which is interesting too because i think we got to be a little bit

00:11:09.840 cautious because you know i just know from my experience of that meltdown right they want to get

00:11:15.680 their money out right so it's the last people that want to keep buying keep buying and they've

00:11:21.480 recently been stung they don't forget yeah exactly so they're the ones who want to exit first so they

00:11:26.400 left leave you in the game right so it's funny it's if if it's a pump and dump scheme with one stock

00:11:32.140 it's illegal if it's with the entire economy yeah okay it's just called life exactly right so somebody

00:11:38.520 still wins anthony don't kid yourself there's the big players still win on that on that gamble on that bet

00:11:43.560 so you know let's talk about gdp for a minute because i think that's that's something that we

00:11:48.800 gotta we should talk about gdp i'm not saying we shouldn't but i think we should talk about gdp in

00:11:54.140 another way and i think it i'm just the reason i brought it up and i want to talk to both of you

00:11:59.240 because we look at our gdp and we say okay we're doing okay we're number nine so if you look at gdp just

00:12:07.740 the number of trillions in u.s dollars canada is about 2.2 trillion dollars in gdp on an annual

00:12:15.100 basis for 2024 the u.s is the monster in that equation with 29 trillion dollars u.s china second 0.94

00:12:24.000 uh and i think we have if nick if you throw it up there india you know and it's funny because it you

00:12:30.560 know when i look at this i always i'm amazed uh yeah there you go i'm always amazed at how it drops

00:12:37.540 so fast so you know you go from you go from china at 18 trillion 18.7 trillion and then all of a sudden

00:12:45.220 you have india at 4 trillion which i always think to myself isn't india a bigger country bigger on

00:12:50.640 people but not particularly big in the gdp market it's big but you figure if it's 4 trillion and we're

00:12:57.980 2.2 trillion and india has a billion people right it you know it may it shows you kind of what the

00:13:06.160 country is but you know uh and then you have all the european countries and us right so part of the

00:13:12.120 g7 equation that we always kind of uh hinge on when we talk about our country and anthony you know and

00:13:18.240 we've talked about it we've talked it out in a previous process we always say we're this huge

00:13:22.000 country we're a g7 country we're a major country you know we throw gdp up there that's a little bit

00:13:28.100 of a disguise right that's kind of what it calls a shell game number wise so we say okay we 2.2 trillion

00:13:34.300 dollars in gdp okay that's fine now let's uh power purchasing price adjusted right and let's see

00:13:42.860 where we stand what does that mean power purchasing price so that's that's the one i talked about where

00:13:48.160 you foreign exchange that's after the foreign exchange is adjusted you equalize your foreign

00:13:52.620 exchange so basically if you looked at a basket of goods across every nation it would be the same

00:13:59.120 currency right gotcha so this is the the great equalizer the equalizer okay so then when you look

00:14:04.980 at the equalizer well lo and behold we fall from spot nine to spot 16 yeah so 1024 so if you look

00:14:12.620 it makes sense though the way you describe it with india and so forth you're like how can a billion

00:14:16.460 people even though the account's not rosy there and they're not all upper middle class like how can

00:14:20.760 a billion people not be outpacing us when they put all their efforts together yeah oh exactly right

00:14:26.240 and so they climb up the map you know they climb up and and quite frankly china moves ahead of the u.s

00:14:31.660 because now what this indicator is talking to us about is our productivity which is where we need

00:14:38.640 to be right we've we've been talking about this for a long time so paul how do we view ourselves as a g7

00:14:44.100 country well we number 16 and frankly at the best of times number nine we negotiate ourself in right

00:14:51.100 so we buy dinner we enter nato right we do all these things we were around for the ride like

00:14:56.200 the vimy ridge passchendaele stuff participating in world war ii yeah just kind of always being

00:15:01.900 around the way you let a family member yeah join in the opportunity even though even though they're

00:15:07.500 basically sleeping on your couch because they can't afford to really be at the party well and i think

00:15:12.980 like the vimy ridge stuff like we were very much a part of the game early on so there's a holdover

00:15:18.940 from that and people aren't yet recognizing that we're no longer a big player like we were back in

00:15:26.420 in the earlier part of the 20th century yeah exactly we don't want to realize that right we want to keep

00:15:31.560 you know all our foreign trips our dinners our diplomats our you know flights our planes everything

00:15:38.340 we are doing right now would go away if we said hey we're just not big enough to do that anymore right

00:15:43.000 and and quite frankly when you look at the numbers now this it even gets better and you know if you

00:15:48.100 break it down because now we look at our per capita right so then we start to say okay per capita and

00:15:53.720 per capita has been interesting because our per capita spend productivity wise has gone down or

00:16:02.000 stagnated in comparison to the u.s so even though the u.s and it's funny because now with tariffs

00:16:07.660 happening the big debate you know senator ron johnson who you know i enjoy listening to he makes the

00:16:13.680 debate that the tariffs won't work because americans will not be productive enough they don't have the

00:16:18.840 skilled workers of the desire to go back into factories right which i quite frankly when the

00:16:23.860 when the tariffs came i totally bought into that like that was my first argument i lived in the u.s

00:16:29.940 quite frankly i i worked along in the construction business with many uh u.s construction firms right

00:16:38.020 i wasn't working with many americans i'll be truthful with you when i hit a job site whether it be

00:16:42.760 florida oklahoma illinois whatever it was me and a lot of new immigrants quite frankly some great

00:16:49.400 mexican people that i was working with and and quite frankly no one there was was homegrown right so are 1.00

00:16:56.420 you willing to show up for this dollar an hour as opposed to that dollar right yeah yeah they weren't

00:17:01.260 right so and then also the unions are so powerful in the u.s that any sort of major manufacturing shift

00:17:07.140 in-house would quickly be met with well we can't afford to do it here based on the hourly rates that

00:17:13.660 the unions are demanding yeah those jobs were gone right those jobs were going to other countries and

00:17:17.880 quite frankly anything building quite that was needed to be built wasn't being built at home or by

00:17:23.140 people who came from home so so that's kind of where they were so the per capita right so we stagnate 0.98

00:17:29.620 so think about that so that's an interesting scale the u that's an argument that's a valid argument in the

00:17:35.240 u.s they grew on the gdp per capita side and we didn't yeah right we've stagnated we've almost stood

00:17:44.100 still so and we've lost ground um to the point how is that sorry how is that possible if we're doing

00:17:50.000 pretty much the same things that the u.s is doing that we're not in the same realm so we loaded in

00:17:56.840 what we did is we loaded in uh we loaded in more people into the country right who are less productive 0.98

00:18:03.700 with fewer projects right so the u.s you know good or bad they do build right so the one thing down

00:18:10.500 there they built a lot of projects they build them fast and they're very efficient in their building and

00:18:15.100 they their mandate their their companies uh is very aggressive right that's that's a cultural thing

00:18:20.540 ours isn't quite frankly so we're loading in unskilled workers who quite frankly weren't being as

00:18:25.360 productive and we're being trained as fast or put in the social safety net in canada allowed them to

00:18:32.000 sit without having to become productive right in america there's no social safety net so i go to

00:18:38.240 america i land right and that's why quite frankly most of the people that were actually and we don't talk

00:18:44.500 about it very much most of the people who are being smuggled across the mexico u.s borders what were

00:18:50.580 they doing first they're they were heading up to quebec i was going to say were they're not coming

00:18:57.540 to coming to coming to canada was their final destination i don't think i don't think i i worked

00:19:03.820 uh with the turkish trade that hadn't crossed through quebec for probably three years here

00:19:09.340 wow yeah and i'm not knocking them i love those guys but quite frankly the stories they all told they

00:19:15.920 crossed over the quebec border they came through mexico went up through the u.s they had no interest

00:19:20.960 in staying in the u.s there's no social safety net in the u.s they knew that they weren't going to stop

00:19:25.600 they you know we were under biden we were making you know oh look at that caravan crossing the u.s

00:19:32.740 border right yeah sure they're crossing the u.s border to get to the quebec border right that's what

00:19:37.920 they were doing so so quite frankly we our productivity as our population's growing is going

00:19:43.240 down so interesting part is now this is the part that you know as i'm going through on the weekends

00:19:48.700 blowing my head off i'm looking at the gdp per capita go to the next slide nick the gd and it's small

00:19:55.920 i apologize but the gdp per capita um and basically ppp adjusted so that parity adjusted

00:20:05.000 we slipped to 30th in the world god right so we didn't just slip so on the gdp we adjusted it for

00:20:15.920 ppp we slipped to number 16 then when we actually do per capita we slip out to number 30 right so

00:20:25.000 think about some of the and you know i just wanted to kind of run through and this was blew my mind on

00:20:30.160 the weekend so right rod gdp is kind of the equivalent of ebit da from the investing world

00:20:36.500 in other words the most attractive number possible based on real stats the most attractive extrapolation

00:20:44.480 yeah so then so countries that are countries that are ahead of us which is i was shocked to hear

00:20:51.300 australia is ahead of us right australia has had a dreadful time coming out of covid i don't know

00:20:58.820 if you followed australia but australia the same issue as us housing immigration right but you know

00:21:05.740 and they were criticized heavily remember the government was just chastised right um and raked

00:21:10.940 over the coals and i think nick if you can go to the next slide on this one the but it really was

00:21:16.420 raked over the coals um finland korea germany guiana taiwan denmark netherlands like it's amazing

00:21:29.120 like the countries what's that norway norway norway norway now some of these countries you know

00:21:35.000 an economist will make the argument that some of these countries are their gdp is made off of uh tax

00:21:41.660 shelters right right i get that you know there's some of these i think i look at shows up that's

00:21:46.620 the first few yeah and macau in their situation but all the other ones above us are just very similar

00:21:51.760 european quasi-socialist states yeah like ireland always gets a bad rack because of its tax shelters

00:21:58.300 quite frankly that's what makes its gdp high right number four i think yeah so that that's why it gets

00:22:03.400 up there but quite frankly the rest of them you know you know if i look at there's not many on that list

00:22:09.500 that can actually be categorized that way most of them are just doing business like we are yeah so

00:22:16.020 it's you know i kind of and i'll fast forward a little and uh as i go through this but you know

00:22:22.820 it was interesting in two i don't know in 2022 when remember minister friedland members the finance

00:22:30.620 minister she you know she uh she tried to talk about this she brought it up she said listen

00:22:37.240 we have to increase our productivity and if we don't our children uh won't be as prosperous

00:22:46.440 and the canadian dream will die right so and the way we're going to do this is we're going to actually

00:22:53.100 try to set targets for gdp right and you know and i thought you know what not a big fan but you know

00:23:00.160 sensible smart a lot of professors you know we basically uh had uh a couple professors from the

00:23:08.720 university of calgary came out and they you know did a comparison of us gdp wise per capita versus the

00:23:15.960 u.s and said we are in danger so we did all that and and we saw the divide of about 20 000 between

00:23:22.480 gdp per capita so in the u.s if you um they kept growing and their gdp per capita equated to about a

00:23:32.860 22 000 per person divide between canada so we were at one point we were neck and neck right and then

00:23:40.400 they pulled away and grew it 22 000 more and that was because their productivity increased so much and

00:23:47.920 ours did so i get that but now going into this budget coming up and going into what we're about

00:23:55.780 to hit in session the key to me is now to set some parameters for gdp so rather than tell us we're

00:24:03.380 going into a recession tell us how we avoid a recession tell us what we need to do to create

00:24:09.840 programs that will be productive to avoid it so and this is where i think i wonder if that will be

00:24:17.460 part of the discussion uh coming back um with the legislature i wonder if we will hear that there

00:24:24.220 is a plan i mean our prime minister is a banker do you do you have faith that maybe this is something

00:24:30.220 that he's keeping an eye on that maybe we will uh see a strategy that builds itself around a more

00:24:37.440 robust gdp yeah he's got it so covered he doesn't need a budget you don't need to ask questions and just

00:24:43.040 you know right the way he's got it all covered don't worry folks yeah don't worry be happy

00:24:47.580 i think that's kind of the message that he sent right which is to print money right we talked about

00:24:52.960 earlier thanks that that song will not leave my head for the next two weeks anthony i appreciate

00:24:57.120 that bobby darren but it does tie you know he he knows and any economists will tell you and they do

00:25:03.640 know this quite frankly they need to print money i do at this point they have to print money because

00:25:10.420 quite frankly boring money will just increase the the debt interest ratio and that's not a good

00:25:16.160 thing for the country and the debt on the country so they have to print money they have to print money

00:25:21.000 to put them into productive programs to grow gdp so where he's got to kind of and and rather than

00:25:28.520 telling us we're going because when the messaging is and i don't i know i don't hopefully he's not

00:25:33.520 telling us but when the media tells us that we're going into a recession that's really saying i'm

00:25:39.280 going to give up that's kind of that moment that's that moment i'm in florida when i get that phone

00:25:45.200 call and say i'm giving up and i don't want to give up i want him to print money but i want him to

00:25:50.120 print money to put into productive programs and projects right that will grow the country and get

00:25:56.500 our gdp per capita going our gdp ppp and i want him to put the metrics in place the accountability to do

00:26:03.240 that so don't give us don't give us you know no we're going into we're going into also that talk

00:26:12.780 leads us there well i bet you're on to something you know that that's a good that's a good situation

00:26:18.760 to have everyone be fearing fearful selling and so forth that's good for the mna guys that's good

00:26:24.000 for the asset guys that's good for all everybody's friends anything if you want to go in that direction

00:26:28.360 you know there's like you push recession there's also good buying opportunities for certain circles

00:26:33.300 yeah recession listen who does recession benefit the rich right and even with cash yeah they keep

00:26:40.620 with cash so quite frankly creating a recession is good for a small group of society it's not good for

00:26:45.980 the low to middle scoop up their houses yeah it's not good and that's not where we want to go 1.00

00:26:50.420 fun yeah so let's not do it right you know what i mean because i uh you know and auntie and i have

00:26:56.520 told him this story a couple times so i'm probably boring him with it but you know that go back to

00:27:01.600 florida right so you know that call comes the bankers i'm driving to work so i came back to

00:27:07.660 canada and i'm i'm i liquidated i levered i went through it all i fly back to florida and i'm driving

00:27:14.860 to work in the morning so i my from my rental place i'm driving to work and i'm driving through all

00:27:20.680 the neighborhoods and the doors are flapping open the pools the people are in pulling the 0.87

00:27:26.440 copper wire they're they're pillaging the homes there's neighborhood after neighborhood the

00:27:32.380 security gates are all left open for the the security uh neighborhoods secure neighborhoods

00:27:38.300 um it's like a ghost town you know u-hauls moving down the highway and that's what happens right it's

00:27:45.520 it decimates areas right when people start handing in their keys

00:27:49.340 yeah they threw their they throw their keys on the kitchen table and they walked out and that's

00:27:55.220 that's a restart of life for those people by the way you know this we look at the economy but you

00:27:59.620 think about the process of going uh getting to the point with your with your spouse and your family or

00:28:05.400 whatever the case is and you have to sit down and say guys i'm sorry we have to give our house back to

00:28:10.640 the bank right but we don't need to do that right we what we need to do is set the metrics and the

00:28:15.960 accountability to move forward to create projects right listen we've seen it in the past china did

00:28:21.740 it you know and i know people saw china a communist country right no they were in a really bad economic

00:28:28.220 situation decades ago decentralized they decentralized they made loans to small businesses they increased

00:28:35.680 productivity they moved money into the economy small banks growing bigger businesses yeah yeah with

00:28:41.660 less resource base than we have see that's the crazy that that's when i when i see this gdp thing

00:28:47.260 go across the screen i think my goodness we're resource rich right we have skilled trades we've brought

00:28:53.660 all these people into the country now so we have we have people right we need to train and deploy them 1.00

00:28:59.620 into projects that will grow the gdp of the country and you know that's i appreciate you guys sitting

00:29:06.080 down with me today but that's that's really the message i wanted to leave and if if anything going

00:29:11.280 into the session coming up we can kind of get out there is let's quickly get the projects going because

00:29:17.920 so far we haven't right we've kind of come out we've talked about a bunch of stuff there's been a lot of

00:29:25.360 meetings i don't know if you guys notice there's there's like there's a cabinet meeting there's a

00:29:30.740 minister's meeting there's a premier's meeting there's a lot of meetings right let's stop the

00:29:36.060 meetings let's get some projects going and let's get some plans and strategies into place and let's

00:29:41.060 start growing because that's what's going to move the country forward and increase the productivity

00:29:45.840 thanks paul i i'm glad to you know what to be honest with you and and anthony maybe you're you're

00:29:51.960 the guy who understands all of this no i sit with paul i sit with paul and i realize afterward oh i

00:29:57.940 i really did trust the gdp was the marker but i didn't he trusted the government you know every

00:30:04.360 day it's not my it's not in my nature i don't know how that happened thank you yeah and you know what

00:30:10.320 for those of you out there and i i really appreciate uh you listening in please subscribe and i also would

00:30:16.780 like you to comment because the more you know i want to get people active in this discussion because

00:30:22.640 i think the more we talk about this we change uh the tone the temperament and the agenda which for

00:30:30.060 the better of the country and i think that's what we need to be doing right now so please you know let

00:30:34.540 us know your comments i'd like to hear them and uh for those of you who any experts come on the show

00:30:40.360 i'd love to have this discussion with you for sure if you have another way of looking at it i want to do

00:30:45.120 a show on interest rates because i think that's a really interesting show to have which is another

00:30:49.980 indicator that you know all of a sudden we're talking about you know our savior is lowering

00:30:54.620 interest rates another show but it isn't so let's look forward to having that discussion i thought

00:31:00.380 that was our savior too all right i better show up for that lesson too all right thanks guys

00:31:05.540 you

True Patriot Love - October 04, 2025

Canada's GDP： Recession or Political Spin？ The Truth Behind the Numbers

Episode Stats

Summary

Transcript