True Patriot Love - September 17, 2026


Carney’s $1 Trillion Bet： Plan or Political Theater？

Topics
carney’s investment summit
Hosted by
Shara Micucci Mike Wixson
Mentioned
Mark Carney Vladimir Zelensky Bella Bella
Why Young Canadians Are Losing Hope ft. Liam Canada’s Crime Problem Is Getting Harder to Ignore

Episode Stats


Length

43 minutes

Words per minute

192.85

Word count

8,392

Sentence count

—

Harmful content

Misogyny

1

sentences flagged

Toxicity

1

sentences flagged


Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Toxicity classifications generated with s-nlp/roberta_toxicity_classifier .
Topics generated with Qwen2.5-3B-Instruct.
Hosts, guests, and mentioned names generated with spaCy (en_core_web_sm), reconciled against Wikidata.
00:00:00.720 Friends need to stick together.
00:00:02.340 As the Canadian-American relationship continues to sour,
00:00:05.420 Prime Minister Mark Carney proposed a deeper partnership Sunday.
00:00:08.760 We're not looking to become a member of the European Union,
00:00:11.840 but we are looking and beginning,
00:00:14.020 we'll begin discussions for a unique alliance.
00:00:22.680 Well, it has been quite a week here at TPL Media.
00:00:26.620 Mark Carney hosting billionaires in Toronto,
00:00:28.980 jet sitting on can't force one eu tariffs mike wickson got more handsome paul macucci better
00:00:35.380 dressed we can't wait to talk gentlemen well some of that is true actually uh yeah this has been a
00:00:41.900 uh a very interesting week you know we've got a lot of big announcements this uh this first of all
00:00:48.520 the motorcades in toronto are really disturbing we've got tiff we've got yes uh enormous investor
00:00:54.940 event going on oh by the way real quick poor seth rogan they had barricades he tried to get into one
00:01:00.540 of his old movie premieres and he was trying to get his what are they like the big ford or chevy
00:01:06.140 suburbans he they wouldn't let him get by the barricade he's like but sir i gotta park there
00:01:09.980 to get into the building they made him walk around the barricade seth rogan show him some respect i
00:01:14.860 know he's canadian too jeez you know we could have at least recognized him on that exactly but it has
00:01:20.380 been motorcade city in toronto and for good reason uh yeah carney has invited the world here to talk
00:01:26.220 about how to stimulate investment in canada and he put a number on it trillion one trillion dollars
00:01:32.860 exactly well so he's one trillion dollars he did say that yeah yeah yeah well and then can i throw
00:01:40.140 some at you because it was it was interesting because in the middle of that it kind of broke
00:01:44.540 that his eu trip he was being going to become an associated member but canada was going to be an
00:01:49.740 associated member of the eu no he tried to downplay it at first right he went to tiff a
00:01:54.380 member at tiff he's like no we're not we're you know we're going to do trade and we're going to
00:01:58.780 be okay and at the same time over the weekend trump was in his plane i don't know if you saw
00:02:03.740 this one trump went bananas yeah on the way back from wherever he was he's like slamming his he was
00:02:09.180 coming back from ireland actually ireland where he told every irishman that they should be unified
00:02:15.580 and then uh he was coming to see the irish leader just kicked him out of the country
00:02:19.900 i know it was jesus yeah well playing golf the uh so you at tiff he gets up he says no we're not
00:02:27.740 um we're just gonna you know work together and i'm going there and all of a sudden you know trump
00:02:34.140 goes bananas and all lights go out on trump so we don't hear much from trump it actually goes quiet
00:02:39.980 and and then we're actually moving on to the investment summit yeah i i it's incredible he
00:02:47.420 has this uh lineup you know what's interesting it's kind of wwe to me or or uh what's it called
00:02:53.740 now yeah you're right wwe yeah brother it feels a little bit wrestling like i wonder how the
00:03:00.700 investors and the other uh delegates from around the world feel about this but the first thing he
00:03:05.980 does is he starts making announcements like deals have been done in the first 15 minutes
00:03:10.380 yeah bell bell so i'm like bell what what well that was that was an expansion of an existing deal
00:03:17.260 that we have talked about on this channel yeah no no we have talked about yeah but okay that's not
00:03:21.980 real um it's a deal it's a deal it's not really it's kind of a pseudo deal and i know you and i
00:03:27.740 have argued about this before why do you think it's a pseudo deal well bell is a duopoly that
00:03:32.700 basically has been created it's been pseudo government created uh by legislation and regulation
00:03:40.060 and over the years people have tried to get into that business but good luck to you it failed
00:03:46.060 because it's too hard so and we've and i've argued this and we've had this on other shows whether it
00:03:51.180 be sports we use telecommunications to do other projects sports teams pet projects of the government
00:03:58.620 and it works right it works because it gets us great teams and it gets us great stadium it doesn't
00:04:04.540 get us great it doesn't get us great pricing on home internet or data on our phone or we
00:04:09.740 indirectly pay for it through those but i like grief i'll give it yeah you pay for that but we
00:04:14.300 indirectly you get crave free somehow no no i like it i'll let me pay for it all right we indirect
00:04:21.180 yeah no but we indirectly pay for those things through our you know our cell bills yeah yeah
00:04:26.620 yeah our bills so quite frankly but so i asked you know i'm sitting there and i'm listening i'm
00:04:32.460 thinking oh okay i thought we were going to talk about new things exactly well oh right away okay
00:04:40.220 i thought we were going to talk about you know the 27 new projects and stuff now we're jumping 1.00
00:04:45.820 up and down and you know all of a sudden all of a sudden harper rolls out on the stage and
00:04:52.300 chretchen rolls out on the stage i'm like what the heck is going on here there's a hug fest and i'm
00:04:57.500 going are we going to start talking business are we going to just like okay validate what i'm doing
00:05:02.860 now you guys got a you know he did you guys got an appearance fee right to come here so jump on
00:05:08.780 the stage right and validate what i'm doing here well okay so if i'm currently real quick yeah okay
00:05:14.860 yeah no i want this trust me you're more than conflict at this table it's my you're mike wickson
00:05:19.900 and you're a hedge fund like blackrock and you're an investment firm with like two trillion in
00:05:26.380 assets are you actually going to say yes to a deal in a two-day summit oh hell no you are going to go
00:05:33.260 back with your team right and say this is what canada and carney and the canadian people can
00:05:39.900 offer is it good for us wait why is that why are you putting okay sorry you're taking you're saying
00:05:45.420 carney doesn't really have the opportunity at this moment he's having this he just gave the pitch
00:05:50.980 i like i understand like so this is this is all dog and pony show bell announcement to look like
00:05:56.780 the canadian people and the public and the media were doing something chretchen who is riding a
00:06:01.440 real wave right now of nostalgia and is basically we will not you know bend a knee to usa everyone
00:06:07.460 loves it harper everyone's starting to like him now because he's saying all the right things he's
00:06:11.640 on team carny but as far as the real meat and potatoes of the investment that'll come in weeks
00:06:19.020 and months hopefully maybe they'll take a month a full month some of these hedge funds to review
00:06:24.540 everything before they even make an announcement yeah i would agree with that and so to that end
00:06:28.740 don't use this as the opportunity to talk about by the way the bell thing don't don't use this
00:06:33.680 as the opportunity i'm with you paul i'm gonna be honest i thought it was a weird way to start
00:06:38.060 is cheerleading and and with regard to uh with regard to kretchen who i think is a lot of fun
00:06:43.980 and uh stephen harper which i i don't even i don't understand his face good piano player oh i did not
00:06:49.340 know yes uh these guys it's so funny because pier poliev has mario of the north and suddenly
00:06:54.940 carney's got kretchen i mean his influencers uh are who would you rather listen to honestly
00:07:01.340 come on yeah so that's an easy one obviously but uh having said that bell has this announcement
00:07:08.580 is folly and then the other thing that it says i read twice guys did you see this you know what
00:07:13.320 it's going to do for our economy it's going to create uh uh hundreds maybe thousands of jobs
00:07:19.700 okay but if you're scott moe and i'm the premier of saskatchewan right now my main things are
00:07:26.180 agricultural and potash yeah he's got to be thinking if i have a huge ai data center maybe
00:07:32.980 there's more and we have three pillars to our economy which has only got two legs right now to
00:07:38.260 stand on right oh no he's what listen he's i get it why he wants to do it he's up there and and he
00:07:43.460 had the sign made yeah i think it looked good and for him it looked great you know he got some
00:07:47.700 economic stimulus i'm not sure again on a local basis for him i get it from a canada around the
00:07:55.460 world basis i'm like oh that's i'm like that's kind of a dull start okay that's a basic mozzarella
00:08:02.340 stick appetizer to the main course that you're going to get hopefully with the hedge fund people
00:08:07.220 i wish i never mentioned that pizza company before the show so but okay jim porter churchill yeah
00:08:13.460 right it's going now rail yeah right those are all things that should have been like up front
00:08:19.620 like big projects that should have been out there promoted you know again the list of projects
00:08:25.220 here's the money here's the pro here's the 27 list of projects we have here's what we need
00:08:30.820 here's how we participate as a country so here's how canada participates here's what equity stakes
00:08:36.740 seed money we're going to put into it we're going to back up with this here's what infrastructure
00:08:40.660 we're going to put into it we've had a year more than a year but paul i know i know i agree i can't
00:08:48.020 even say the number of months we've had to put this together into a plan to present to people
00:08:52.500 but he has the hedge fund people the heads they are not going to make a decision no they're not
00:08:58.160 going to make a decision after cocktails downtown and king street but but wouldn't it be nice if it
00:09:02.580 was all laid out and quite frankly of course it would be as shareholders in in the country of
00:09:08.260 canada now that i agree with love to see what the structure being presented is now that's not saying
00:09:14.780 the final deal structure to your point i understand and i agree with you that's not
00:09:18.920 saying the deal structure ends up that way but at least i know where the leader of the country
00:09:24.780 is taking the country and what structure he's promoting whether it's pref equity how we
00:09:29.280 participate correct and then how as canadians do we benefit from that and it's very clear it's very
00:09:35.300 transparent we all see it and i'm like okay all right so now we're we're gonna talk about great
00:09:42.780 okay we wait around two days but but fortunately for carney he right now he's got no deal to offer
00:09:51.460 to canadians from the meeting because they have to digest what he said i'm not even waiting that's
00:09:56.280 fine i'm not even waiting for a deal i get this show us why okay this is yesterday we had a guest
00:10:02.480 on the show uh and i'll shout him out because he said something that really made a difference to
00:10:06.520 my mind uh tony romanelli oh tony good guy in the room he uh he said this to me um you know
00:10:13.620 there's businesses out of there out there and they realize they have to make fifty thousand
00:10:17.280 dollars a month to survive and so they'll do whatever they have to to get that fifty thousand
00:10:22.020 dollars that is not a business plan that is a survival plan and it's not even a great survival
00:10:27.840 plan so to paul's point i would love to see a business plan that says this trillion dollars
00:10:33.140 represents this actual yes application i think canadians would like to see it and now we're going
00:10:40.180 out there to do it yeah so we have a budget right we have a budget so it's interesting he gets up
00:10:45.620 and he says by next year a year ahead i'm going to balance my operating budget yes because he's now
00:10:51.300 he's split his budget into capital and operating so he's about to spend all this money so yeah
00:10:57.300 he will take revenues and he'll offset expenses but then he has all this capital expenditure
00:11:04.660 that's going to go out somewhere right that's what we've done yes re-jigging our accounting
00:11:09.860 for government right so there'll be a payback there'll be a return on investment like he's
00:11:15.860 the one who did it right so now i'm waiting for him to show us okay here's the projects i'm going
00:11:20.500 to put the capital in here's what they're going to return here's how it's coming back you know at
00:11:25.300 at least set me off on a structure and we go through and then we get to the
00:11:30.400 end. Right. And I'm thinking, okay, all right. We didn't see that.
00:11:34.120 Well,
00:11:34.160 even champagne isn't out there saying anything that makes any kind of sense
00:11:37.480 with regard to this deal. And you would expect that, you know,
00:11:40.060 this specific individual would be able to at least on the prime minister's
00:11:44.920 behalf, be able to say, okay, here's the bell deal in, in a nutshell,
00:11:49.260 press conference, these things, have a discussion,
00:11:51.460 let the press say,
00:11:52.520 why are you bringing this up at an international trade conference?
00:11:55.300 that you're hosting the second one that came up and i found this pretty disturbing was he's making
00:12:01.300 an announcement yesterday i call paul you know jim i tried you you might have noticed i called
00:12:06.420 you guys right away and i'm like i was at chapter zindigo he's uh sorry you're such a i was taking
00:12:12.500 selfies with my books i've written you know jim that's cheesy and lovely i did yeah so uh i called
00:12:19.460 and said paul he's privatizing the airports paul went oh for the love of god we never privatize
00:12:24.580 anything properly and then we find out that the airport itself is not being privatized and none
00:12:31.220 of them are well not to be again i'm not trying to be difficult but quite frankly he's standing
00:12:36.580 on the podium or being presented or uh uh celebrated off the stage by two former prime
00:12:45.700 ministers who did horrifically bad jobs at privatizing anything they touch well what do
00:12:51.620 do you mean petro canada right who destroyed it right to absolutely rip the heart of where we
00:12:58.180 could have been in canada right now you know actually real quick name one prime minister
00:13:02.500 who privatized anything well no we don't we don't do it there's no there's no example and harper the
00:13:07.860 quietest prime minister we ever had right the weed board i guess we sold to the saudis quite frankly
00:13:15.700 and when you when you read up in that that's totally there's 50 of the people who absolutely
00:13:22.820 were devastated by that deal and 50 of the smaller group that liked it so it wasn't
00:13:28.260 well received it's still they still talk about it and then the can do deal which quite frankly
00:13:34.660 we sold for 15 million and then when trudeau got in we had to give them 75 million to snc lavalin
00:13:40.980 who bought it by canadian standards that's lightweight we only lost 60 million come on
00:13:48.100 paul tell us when you get to a billion and then for those for those are unreasonable come on for
00:13:52.980 those ontarians who are watching right don't you see the 407 don't you say it we still we still
00:14:00.580 sting every day when we get on you know our head just goes i don't know about you when i go in here
00:14:05.700 beep beep it's like a like a dagger it's like i literally my my heart it takes me a little minute
00:14:12.660 to get positive again i hate the negativity i gotta go to my happy place you know i'm driving
00:14:17.620 through that beep it's worse for me i get suspicious now i'm like oh they're making
00:14:21.780 traffic on the regular route so i have to take this so you ask about announcements
00:14:26.100 this huge tinfoil hat guy i just double checked so monday september 21st parliament resumes for
00:14:32.980 the fall session 11 a.m i i will go to my betting app right now and put the over that carney's
00:14:40.140 making some announcement either while he strolls by the media and does this flyby wait till i have
00:14:47.700 we hear what i have to say right and we'll do one of these and start parliament fall session
00:14:52.260 by the way paul bakuchi is giving 15 billion dollars to the mike wickson fund well the interest
00:14:59.540 so it's interesting he's just brought that up what's the date he goes back on monday the 21st
00:15:04.120 okay so it's interesting because i didn't even think about it but where is pauliev oh he's he
00:15:11.960 was in vancouver no where did he come from on the way i don't know he was on his american trip
00:15:18.460 oh jesus you remember he was supposed to remember hit texas and he was supposed to do his trip where
00:15:25.260 he did podcasts again oh could you notice you notice he wasn't anywhere right he was you know
00:15:31.740 definitely wasn't on the podium right and he definitely wasn't with the other former prime
00:15:36.460 ministers but he wasn't anywhere so is he opposed to this oh yeah oh yeah no he every so before he
00:15:44.140 was out before it saying you know what deals have been done you know what have we accomplished then
00:15:50.540 during it he's saying what investment deals did we get done you know they were lobbying in things
00:15:56.620 but quite frankly he was like you said he was returning from what was supposed to be a pr
00:16:01.340 campaign in the us to get pr uh uh goodwill going again yeah and we didn't hear anything because
00:16:09.020 okay but here's what he should have been doing telling his own mp jamal javani to sit down and
00:16:15.420 shut up all he does is go on social media and promote america and slam canada and so he can't
00:16:23.020 even control his own caucus read the room javani like read the room well i mean if you if you look 0.95
00:16:29.340 at the sheer numbers that carney is talking about replacing i mean there's still an 80 billion dollar
00:16:35.340 uh deficit in trade that we need to replace from the u.s with some better deal out there
00:16:40.620 there's uh over 780 billion dollars in offset revenues that have to be found someplace
00:16:47.260 and he's out there trying to get a trillion dollars in against deals that we don't know
00:16:52.860 about as jim points out but to your point talking about the airport talking about a bell deal
00:16:58.060 referring to uh his uh his his he's so revered by everybody he's times man of the year but what
00:17:09.640 we're not he's a beautiful evangelist and people say and i've seen it the comments so you're not
00:17:15.800 conservative you're not liberal what are you i'm watching you're canadian i'm watching as a canadian
00:17:20.820 to say okay what is really happening to your point and your point we don't really know what
00:17:26.900 the mission was and what's coming out of this and we won't for some time well and then to have the
00:17:31.960 com the european commission president ursula von der land start the whole conference basically
00:17:38.920 begging carney in canada to become the european union's first associate member this is unprecedented
00:17:44.860 well yeah this is the kind of times first but we're not doing it apparently no but i mean the
00:17:49.620 thought of that six months ago was kind of unheard of well it really is it's got to be a poke in the
00:17:54.380 eye to trump he must hate that that's the case right absolutely we see him on the on the plane
00:17:58.940 uh the press addresses him about he's slamming doors and slamming but we already have a tariff
00:18:04.780 deal with europe right with the eu so we already have a free trade agreement yes uh c-a-c-e-t-a
00:18:12.560 but we wouldn't need any more travel visas as canadians to go anywhere in the eu under this
00:18:17.200 new deal i believe correct yeah no it would open up it would definitely open up uh as far as basically
00:18:22.820 cargo and certifications and all that stuff it would open up all those right which makes good
00:18:27.540 for business but it does but it's interesting jim you give up basically um all your what you have
00:18:38.400 to do and what i'm going to look at norway for a minute okay i'm going to kind of fast we love
00:18:42.280 norway yeah when we talk about norway a lot right so norway has uh an associate relationship with
00:18:51.340 the EU, right? Iceland, Norway. So, but they're not a member of the EU. So we're talking about
00:18:59.200 something similar to that, maybe not the same. But what this means is like, for example, in Norway,
00:19:05.740 it means that Norway's domestic laws regarding consumer protection, corporate law,
00:19:12.360 environmental standards, and food safety are essentially written in Brussels.
00:19:16.580 so so the reason you don't have to go through all those regulations for goods and service and
00:19:24.100 travels and people moving back and forth it's all done to the eu headquarters in brussels
00:19:28.660 it does but it's so now you're not a uh you're not a member so you're not a you're not a voting
00:19:36.020 member of eu correct so when they make a change to one of their laws with respect to corporate
00:19:42.420 law or regulation you have to change yours but you don't get to vote on it you can only lobby it
00:19:49.460 right interesting with respect to norway and i so we might have to jump through a lot of regulatory
00:19:54.660 hoops just to be doing business there that we're not even considering at the moment we might have
00:20:00.420 to change the way that we ship the way we tariff ourselves the way that the pricing goes and we
00:20:07.220 we have to abide by new regulations potentially that we don't now well let me raise a scenario
00:20:12.560 mike that what you just said when the eu president basically stands up in public and begs carney and
00:20:19.340 canada to come could he not go yeah i'll do that but i'm going to tweak the rules a bit to benefit
00:20:25.040 canada so we're not going to do exactly what maybe you think we have to do we're going to do this and
00:20:30.440 this and then we'll do is that okay right because he's in the driver's seat now it kind of feels
00:20:35.240 like he might be yeah hopefully hope well let's let's let you listen i'm optimistic but quite
00:20:41.640 frankly realistic too norway's a pretty so um let me let me kind of condition it right
00:20:50.200 norway from a financial stability perspective and a fund for their wealth fund is very powerful in
00:20:58.440 the world oh it's right yeah much more powerful than we are our little you know our little alberta
00:21:04.040 fund that we have is minuscule compared to the fund that that the you know norway has so quite
00:21:10.840 frankly to think that we're going to be able to sway the eu more than norway norway yeah i'm
00:21:17.400 skeptical about so that's what i put out so that's my only you know but and that's why i'd like to
00:21:22.600 get the devils in the details right i think that's fair i think everyone should see the details yeah
00:21:27.640 so i'd like to figure out um what that is now also norway pays hundreds of millions of euros
00:21:36.920 to the eu in order to get access to the eu market so there's a financial component so they can
00:21:42.760 freely trade within the eu so they're an associated member but they have to basically they gotta pay
00:21:48.520 an entry fee and then they have to abide by the laws so um there's there's lots to this right
00:21:56.280 right now we don't pay anything right now yeah but you know we're still waiting for i think um
00:22:01.960 you know 20 plus uh eu partners and members to ratify the free trade agreement say we don't
00:22:08.920 that free trade agreement is not actually in place it's it's not fully not fully in place
00:22:13.320 it still needs to be signed so we're still waiting so so there's work to be done he's got work when
00:22:17.880 he's over there he can get all those farmed up you know it's interesting because the airport
00:22:24.200 the airport idea got lukewarm reception i'm announcing today that we will seek private
00:22:28.920 investment through long-term concessions to operate canada's four largest airports
00:22:35.880 following best practice in other countries the government of canada will retain ownership of
00:22:41.240 the underlying land and assets but we will unlock their true value by bringing in new capital and
00:22:47.720 expertise to their operations and their growth we will reinvest the tens of billions of dollars of
00:22:55.480 capital that we raise into infrastructure that canada needs for the next generation
00:23:02.520 that will mean investing in regional airports providing better and more affordable regional
00:23:09.000 and remote air connections it will mean a better passenger experience it will mean
00:23:15.800 investing in new local transportation infrastructure to make commutes easier and faster for all
00:23:22.040 Canadians. And it will mean helping to finance new nation building infrastructure, including
00:23:28.920 a sovereign broadband backbone that connects Canadians from coast to coast to coast with
00:23:35.000 more direct and secure links to Europe and Asia.
00:23:38.600 right so you know we go back to the airports for a minute airports are airport authorities right
00:23:46.920 so run airports in canada um you know there's a lot of uh unions and and laborers that are
00:23:53.960 concerned the smaller airports are are really worried right now they're going to be left in
00:23:58.760 the dust well if it's privatized and uh someone comes in quite frankly they're going to make the
00:24:03.720 financial decision which airport to leave open and which to shut and then they're going to think that
00:24:08.120 eventually they'll be just given back given back to the government again right right and then we'll
00:24:13.160 be holding the bag because we'll have a bunch of debt getting everybody back at that we'll get all
00:24:17.000 the wowsy we'll get all the airports that don't make money back into our portfolio and the ones
00:24:21.320 that do make money that make that 500 million a year will be outstanding and they're the will
00:24:26.520 they'll be with the new entity oh my god and it's a real fear because it's a real quick because a
00:24:30.920 lot of people brought up wait a sec i'd like to vote on something like this as a canadian i'd
00:24:35.880 like this on the ballot well what he did was he took the sting out of it by saying i'm actually
00:24:39.800 not doing it with the airports i'm doing it with the plaza to soft sell it yeah i think that's what
00:24:46.040 this was yeah i could we probably could take over the airports we could uh you know offer those up
00:24:51.400 entirely for privatization but that would require a vote that would cause too much i think yeah
00:24:57.160 that's the thing you need to go to the ballot and i can still put this on the books and and
00:25:01.560 get past canadians that's what it feels like but so can i throw up so airport authorities
00:25:06.920 actually do like as far as the leasing of um food venues and you know beverages and stuff
00:25:14.200 the clothes and the stores everything in there that's under their purview i guess so you could
00:25:19.480 pick some of that out and try to do that but then you'd still have an airport authority and you have
00:25:23.960 to run that airport but you're not going to get a lot of money you know having spent time i mentioned
00:25:28.840 ti spend time in that business um uh basically you're not gonna get a lot you're gonna get some
00:25:33.320 money for it it's not a lot of money quite frankly it's not billions of dollars you know it's maybe
00:25:38.200 hundreds of millions because think about your own buying behavior you don't go when you go through
00:25:43.080 an airport you might buy food maybe a beer you know maybe a t-shirt for a souvenir i've never
00:25:49.800 done shopping uh yeah i've done a little bit but it's mostly when i was doing a lot of business
00:25:55.480 and quite frankly i'd buy like uh a new briefcase if mine was broken yeah my headphones like yeah
00:26:01.240 yeah yeah stuff like that but yeah but you're right jim it's not like serious shopping and
00:26:05.000 so yeah so the amount of money that's offshoot it comes off of that isn't a huge number so
00:26:09.880 you're not going to get a huge multiple on that meanwhile he's asking for a company to come and
00:26:14.680 give a one-time uh access payment to take over that element and look my concern is i've either
00:26:22.840 i fly out or in or i'm picking up family members at pearson our busiest biggest airport all the
00:26:29.000 time in a calendar year and there are some times uh into a long weekend into the holidays where
00:26:35.080 anyone who's been tried to drop someone off or pick someone up it is hell on earth
00:26:39.880 nightmarish and it could get worse if it's privatized and that's a big fear a lot of people
00:26:44.360 have or less because if you're if your passenger charges and your ground fees go up and ticket
00:26:49.880 prices your number of people try you know you're going to lose airlines potentially potentially
00:26:55.320 yeah can you you know you scared me a minute ago when you said you know okay we're gonna have to
00:26:59.240 take one of these airlines back pull the airlines back in why do i see one of these airports turning
00:27:05.320 into flare airport oh no i like flare i fly them all the time i actually like them no no no my bad
00:27:10.600 flare no no i'm team flare no no but you do honestly you don't it's something we have to
00:27:16.200 but again the devil's in the details and quite frankly he's got to start to talk i think the
00:27:21.160 prime minister is when he comes home he's got to sit down with canadians and say hey here's what
00:27:26.040 i'm thinking i'm going to enroll here's what i might you know yes i want to do the airports
00:27:30.920 you know there's there's got to be some conditions or guard rails with respect to fee increases on
00:27:36.760 an annual basis that are built into the agreement here's where it looks like here's where we go
00:27:41.560 and maybe you get there maybe you get there um you know again we we all struggle as canadians
00:27:49.160 because we've never seen anything privatized well so quite frankly we're scarred from it we're
00:27:53.880 scarred right there's no one you know you know you're not sitting in a bar and someone says yeah
00:27:57.720 remember that great privatization nobody saw that announcement so i can only buy one drink because
00:28:02.360 i have a 407 bill to pay i wanted i want to describe what it felt like when we were watching
00:28:07.240 this yesterday as a group here and and everybody just did this oh can i oh no so that was our all
00:28:14.920 of us had the same reaction i was at the other business right and quite frankly they were angry
00:28:21.880 well a lot of people angry i had the the you know my yeah cfo yeah he was f-bombing he was really
00:28:29.320 he was really pissed he brent we walked right out at the end of the day it was like five o'clock he
00:28:33.080 he's like cursing and walked out of the building and i'm like oh wow that's an interesting reaction
00:28:37.500 to that i think canadians that's they're a little protective of stuff like that and there's yeah
00:28:41.960 and i think carney has has a lot of runway right now yeah to do things but i think this is like
00:28:47.960 to your point mike he realized oh maybe i overshot the runway a little bit and then i'm gonna have
00:28:53.580 to like by the way it only means this and this right because i think they saw the temperature
00:28:58.600 and went oh oh oh every announcement he does this we're shareholders in his corporation
00:29:04.760 but not we're b-class c-class shareholders in his corporation not voting shares he gives us these
00:29:10.760 annual general meetings weekly where he gives us updates on how wonderfully we're doing financially
00:29:16.760 but when the devil in the details arises it's ebitda oh yeah in the greatest scenario before
00:29:23.240 this this this and this it's a trillion dollar billion dollar deal but i did feel sorry for him
00:29:28.200 a little bit and i gotta admit so when you know he looking hard so he is like you know hats off to
00:29:35.400 him he's really you know he to go do the summit then get on a plane fly to europe this morning
00:29:41.080 i'm up early and i'm actually picking up the news on um oh he's over in um strasburg strasburg
00:29:47.880 thank you and so he's over there and i'm watching you know that announcement that we're going to be
00:29:52.360 an associate member right and i'm thinking and i'm looking and they pan to him and he's kind
00:29:57.240 of like a deer in a head i don't think he expected her to say no because he had just said a tiff he
00:30:01.800 wasn't going to be so he's like oh like that's a gaffe right because he can't remember like
00:30:07.720 he can't control all that becomes a meme now yeah he can't control all the conversations
00:30:12.440 no so she's going off he's like oh yeah right away right away and it wasn't me who kind of
00:30:18.440 picked this up you know out of curiosity i'm like you know chat gbt it's pretty easy right now what
00:30:25.240 does that mean right well i think most canadians did the same thing and right away it pops up and
00:30:30.200 says well if we're an associate member we'd be kind of like in the case of norway then we'd have
00:30:36.360 to change or we'd have to go along with their rules protection corporate laws environmental
00:30:43.080 standards and there's also and i'm like oh oh we just got that's not good no i don't get into a
00:30:48.600 a lot of new work she also alluded to a sort of loosely based military alliance she did okay now
00:30:55.820 that that was also slipped under the radar there too correct i got what i took from that was
00:31:01.700 peacekeeping what peace is there to keep right now i don't know but that's that was the way i
00:31:07.640 think that sounded like nato with canada and ukraine that's what it sounded like well okay
00:31:12.720 that's interesting you just brought up ukraine without the usa so right away i'm sitting there
00:31:17.080 thinking oh i wonder what putin's thinking because we just signed a deal with vladimir zelinski in
00:31:23.480 ukraine to build one million drones in canada and now and now we're thinking of being an associated
00:31:28.920 mentor of eu who who who and who doesn't get along with the eu the most in the world putin
00:31:35.160 yeah and i'm thinking oh so well so now carney's thinking geez i wish i had a
00:31:42.360 pipeline to send them gas and oil right now because they're obviously want it right i wish i had that
00:31:48.040 pipeline to church i'd be shipping it right now yeah it's right which okay which is interesting
00:31:53.560 right so they did we're coming back to the initial conversation because then i'm thinking okay why not
00:31:58.520 in the two days did we if we this is where i i don't understand the connect right and i wish we
00:32:04.440 did understand it better and i wish it was communicated better if we did know we were
00:32:09.320 going to do this because he knows he's going to like you know he roughly knows the direction he's
00:32:15.160 going when he gets into the summit here in toronto correct right the investment summit
00:32:19.720 but not that announcement he didn't know i think that kind of cool yeah i don't think where's my
00:32:26.280 i do like the look on his face he gives that smirk like oh come now
00:32:32.120 but you know he's sitting there and i'm thinking i would have liked him to actually kind of drawn
00:32:37.560 the dots for me yeah so the projects that we were going on fit into where we were going with the eu
00:32:44.440 so i go oh i get it right but now you know the only thing sitting and maybe a pr gaffe right
00:32:51.640 because quite frankly the only thing sitting in my mind is bell right and my high sell bills and
00:32:57.160 quite frankly until and the airport oh great i'm going to buffalo to get my flights from now back
00:33:03.560 in because when's the last time you said i had such a good time going to pierce in this yeah
00:33:07.720 well you know and people don't i think people my age remember remember actually having to do
00:33:13.080 business in the u.s and for years in order for us to do it economically you drove the buffalo
00:33:19.240 we had to drive i've done it no yeah and it was horrific i've done it to detroit too and a week
00:33:24.760 on week base like i'm talking this went on for weeks or years for me back and forth back and
00:33:30.280 for and crossing the border and trying to explain and i parked my car over in buffalo i'm flying out
00:33:35.720 to you know maryland today i'm like oh my goodness and then the drive home and it's just like oh
00:33:43.880 and finally we got to a point like this is where you know and people won't get it the younger
00:33:48.760 people today won't get it because you you guys have done it we'd have to live through it but
00:33:53.240 you know when i go to the airport and i'm able to come directly home to me now i cherish it
00:33:59.880 because i lived you saved a lot of time i lived through that decade where yeah i couldn't do that
00:34:04.680 anymore and quite frankly did you ever have to take one of the bus trips down there you park at
00:34:09.160 yorkdale and they would take you down on the oh yeah and then there was inevitably somebody on
00:34:13.080 the bus that needed to be pulled in by customs like we gotta go guys i bought a beater ford
00:34:18.680 explorer that went forever because the motor those motors went forever they go and i drove the heck
00:34:24.040 out because you didn't care what happened in the parking lot i didn't care if it got ripped off in
00:34:27.160 buffalo right but we're back to that and i'd leave it for the week and go right well okay real quick
00:34:33.000 my cousin yeah who lives in southern california she now think about this she's a retired uh
00:34:39.320 podiatrist foot doctor uh did okay her husband is a bank manager and she went to fill up her
00:34:46.120 medium-sized car in southern california 111 us well like that like 6 30 some a gallon us
00:34:55.160 it like they are dying at the gas pump in the states right now well my well yeah but look
00:35:00.600 we're used to it right where we are my truck's going at my truck's going at 180 right now
00:35:05.800 oh the pickup yeah oh jesus that's what it is is it diesel no thank god it's no idea it'd be 250
00:35:11.960 right i know but you know we drive volkswagons yeah they run on sewing machine oil and the you
00:35:17.080 know we started we started this show on tariffs right yeah and the interesting thing is i was
00:35:22.040 talking to jim before just before he came in my and we actually had terrorists from the u.s come
00:35:28.200 on this week and come off yeah the canadian cement was taken off oh i didn't even notice that yeah
00:35:33.160 they added uh outboard motor boats some metal products and paper products but then took the
00:35:39.000 tariff off canadian cement and we're like well i guess they need cement in america desperately
00:35:44.120 for so they're cherry picking as they're putting them on they're like oh we can't do that i remember
00:35:47.960 they did salt right away salt they did road salt remember roads well so but the funny thing is our
00:35:53.480 attention when you notice like i just brought it up because i noticed this morning yeah no one
00:35:59.240 talked about it very much it was very quiet you know what i mean like they these retaliatory
00:36:04.200 tariffs so we've kind of whether by design or just by luck or just whatever our attention is gone now
00:36:13.080 right we're not really that interest so canadians are kind of okay we're we've kind of went you know
00:36:18.200 squirrel look over there okay we're in the yeah now well well now we're off if you're trump now
00:36:23.480 think about this that's a good point straighter hormuz gong show forget it so saudi arabia was
00:36:29.640 shipping all their oil to by the red sea yeah and now the houthis have mined it yeah and now
00:36:36.280 saudi arabia will not ship any oil through those two waterways that is a disaster for america
00:36:43.080 disaster disaster for them as well absolutely it is well and a disaster for us jim not only for
00:36:48.680 america so quite frankly that another thing you know at this conference and i'm which we're going
00:36:53.160 to do another show on quite frankly let's start talking big time about oil we got it like it
00:36:58.760 shouldn't be in every week we'll just talk about it once it should be we should talk about oil i
00:37:03.240 want to see a video talk about refineries of a bunch of guys welding pipelines together should
00:37:08.040 be all we do yeah pipelines jim let's get to alberta and build some refineries again and
00:37:14.280 start to actually like we gotta we gotta figure this out because you know better be shipping gas
00:37:19.160 to ourselves ourselves we gotta figure out ourselves now for a while you know because
00:37:23.000 yeah we can get more pipelines going to other people we gotta you know get ourselves going
00:37:28.200 again because here's the thing i get why you know he he you know the two days of the investment
00:37:34.280 summit great right he's got to get us some investment going in coming into canada that
00:37:40.040 actually gets us more productive that gets us those jobs you know in the refinery the pipeline
00:37:46.440 and the transportation to ship the gas and oil liquid natural gas around the world yeah exactly
00:37:52.840 uh yesterday night i'm watching a show and the guy's talking about the fact that you know
00:37:57.960 all the things that uh oil goes into it's everything and uh uh moshe lander the professor
00:38:05.000 we do the shows with all the time oh yeah he's on naming off like leather goods this
00:38:09.400 goods that good sure all the stuff that oil goes totally and byproduct is in the man while
00:38:14.360 infirming exactly staggering so he's going so you know if if to your point which is a great point
00:38:21.240 if saudi is out of the game now and we're in this for a longer period of time we better start to
00:38:26.760 focus on ourselves a little and stop you know worrying about pipelines but it would have been
00:38:31.800 nice quite frankly to figure that out if we're going to do it at that summit if we're going to
00:38:36.280 do it ourselves yeah what our strategy for as a nation would be to partner in these things
00:38:41.800 okay i get it if we're going to get back in that game first of all we have to be competitive which
00:38:46.200 means a capital investment that takes longer to pay back because we have to enter the market at
00:38:50.840 the right price he lower he did lower the taxes he did for investors which is which is a start
00:38:56.120 a really good start but what a plan to paul's point to be able to say okay here's what we're
00:39:02.040 going to do with getting back to business with our own oil we're going to do a deal with bp or
00:39:06.760 we're going to do a deal with such and such and we're still going to own it we're still going to
00:39:10.600 operate it we're going to have this lead share of it yeah yeah so he said that he did the mega
00:39:15.800 deduction yes which was a great you know great i would have loved that to be the first so if i would
00:39:23.240 have before bell i would have said hey guys i'm here i'm gonna do the mega deduction we were
00:39:29.080 already at 13 so it allowed the direct invest so if you put capital into the following list
00:39:34.920 of projects you're able to expense it in year one which then took your effective tax rate down to
00:39:40.440 like six percent from an already low 13 which we were already the lowest in the g7 as far as
00:39:48.520 effective tax rate it reduced it in half that's significant so it was a fire sale it's a fire sale
00:39:55.320 as far as putting you know your effective tax rate is the lowest in by far in the g7 even more
00:40:00.680 than the us so it did make us attractive from that perspective and that's what i thought was a great
00:40:05.880 announcement do you think that was part of looking as a looking at sorry no but as you said that i'm
00:40:12.280 like well maybe the bell announcement was meant to look like look we've got infrastructure coming
00:40:17.080 for your data investment how could it not be airports no it was that's the future i think
00:40:22.680 these were not meant these announcements were not meant for us they were meant for the delegates
00:40:27.240 at that conference hey hey hey this is what you could get into yeah well look we're revamping our
00:40:31.640 airports we've got opportunities uh you know we're open for business we're gonna be doing data like
00:40:36.120 nobody else look at bell i think it might have been a show for the pr gap though right yeah you
00:40:41.400 gotta connect the dots because because we we follow the news and we're not delegates yeah we're not
00:40:46.040 those but quite frankly take me from here to the investment summit to the eu right and show me how
00:40:52.760 they all connect and then okay i see i see a rational path to this i get behind it but you
00:40:58.200 know so monday he's at the house of commons parliament resumes yeah well no matter what
00:41:03.720 we think about the opposition they're going to have the same questions we have about the same
00:41:08.200 topics we're just talking about so he has to be armed with the answers and not the theater we see
00:41:14.680 in the house of comments question period but when they go questions well no but when he goes to the
00:41:19.640 media afterwards and he has the best political reporters in the country grilling him he can't
00:41:25.480 spin it like he does the house of comments he'll have to answer questions yeah which hopefully by
00:41:30.920 you know again the the show we did was his short runway yeah this is where the short runway is
00:41:36.280 right so now you have to and and you know he's got a week he's working listen he the travel the
00:41:42.840 meetings everything else he's not a guy who's resting a lot so he's like he's in the air he's
00:41:48.200 trying to get it done i know he likes his morning runs but part of me thinks he's running and he's
00:41:53.240 doing like ted lasso like doing double things so he can stay on top of everything but you know it's
00:41:59.480 so funny because my wife says to me why do you have to beat up on the prime minister so much and
00:42:02.840 it gives me a pause for a second to just say i kind of like the guy actually has a personality
00:42:07.400 he's you know like you love the way he coaches you know he's he's inspiring he's going to be
00:42:13.700 times man of the year he's inspiring the world right now that is one thing i don't think trudeau
00:42:19.260 did that i haven't seen so i give him that credit he's put on a really good marketing effort to
00:42:26.840 bring canada to the forefront but we have to know where the red we're going to draw the red line
00:42:32.680 of we're not going to do this to be part of the eu we're not going to do this to we won't sell
00:42:37.880 this just for a buck just to get that budget right satisfied because but think about carney
00:42:43.860 harvard hedge funds bank of canada bank of england all those decades sort of angel
00:42:51.560 hell spell yeah i'm just associate i made that part up associate associate member
00:42:56.600 building up to now and like you see how way he comports himself the way he speaks
00:43:03.120 it is it does inspire confidence and at the same time like you no matter what you think of trump
00:43:09.720 even his biggest supporter some of his rants lately he's melting down slowly carney does what
00:43:16.440 for you he provides comfort and confidence you ever heard of a confidence man before
00:43:22.980 i say we keep an eye that's okay well fair enough thanks guys i appreciate you talking about this
00:43:29.580 thank you let's do a deal