True Patriot Love - The Arctic： Canada's Northern Development

00:00:00.000 In the Cold War in the 1970s, B-52s, some American bases, would come up to CFP Trenton in Ontario

00:00:07.480 and practice doing bombing runs over the Arctic Circle to Russia because it was the most direct

00:00:13.560 line if things kicked off. And they would go over into the Northwest Territories or Nunavut,

00:00:20.080 right over our territory, loaded with nuclear weapons, and go right into Russia. And they 0.92

00:00:24.620 practiced those bombing runs all the time. And there was nothing the Canadian government could

00:00:29.320 do to stop them because the fact of the matter is we were not pulling our weight as a country we

00:00:34.800 were not buying material the the military is using old outdated equipment so when they said we're

00:00:40.580 going to do this we were in no position to say no canada doesn't have just two oceans we have to

00:00:50.700 contend with we have three we have the pacific the atlantic and the arctic ocean and the arctic ocean

00:00:56.620 for a lot of canadians a lot of people around the world is maybe the most hotly contested ocean on

00:01:01.900 the planet to talk more about it as always thrilled to be joined the always popular i hear so many

00:01:06.380 compliments about you paul micucci i hear thank you paul micucci's a smart guy i don't know about

00:01:12.780 so you know a lot more about the arctic than i do right because of my father yeah yeah your father

00:01:17.820 and i you know i appreciate your uh military background and everything uh is terrific as far

00:01:24.140 is uh geography because you live lived at different places around yes and yeah and you get it i was

00:01:30.220 shocked i think before the show you know you i you came in and we were talking the number of people

00:01:35.740 i had been to the yukon so i'd been in i've been uh actually i've been to all three right note of

00:01:41.500 it as well yeah i've been actually two and i've been to northwest territories and i've been to

00:01:45.660 the yukon oh great um great you know in my field of business you know we we at some point in time

00:01:51.420 we've actually looked at doing business on all three oh wow um i wasn't uh and maybe it was a

00:01:56.460 memory gap i didn't realize the population size it was sparse yeah yeah well i knew it was small

00:02:03.660 but i didn't i didn't realize 160 136 000 across all three yeah um nunavit uh 42 000 northwest

00:02:12.380 territories 45 000 and the yukon 48 000. correct yeah you know now the last one i was up at was

00:02:20.060 the yukon i was in the yukon beautiful frankly um but you know a lot of indigenous i think

00:02:26.540 you know we spent most of our time with the indigenous leaders in the yukon yes um talking

00:02:30.780 about business opportunities uh and it was uh interesting and then we actually went to alaska

00:02:37.020 so we took a plane we were there so we said what the heck we took a plane flew into alaska

00:02:41.900 uh spent a day in alaska which was just uh breathtaking yeah well the thing is with the

00:02:47.820 arctic and most canadians i mean it's been well documented 95 of the population lives within an

00:02:54.060 hour the u.s border yeah and we forget how far north it goes and when my father was in the royal

00:02:59.500 canadian air force he was ground crew and they would go to alert an alert is the most northern

00:03:04.380 outpost on canada it's you could almost walk to the arctic circle it's it's at the north pole

00:03:11.340 and we've had a military outpost there and other locations and once upon a time it was yeah there

00:03:21.140 was the arctic but with the proliferation of nuclear submarines from china from russia and

00:03:26.420 other countries there's a lot of countries that can run through the northwest passions of the

00:03:31.880 arctic shipping lanes uncontested so what canada's done that's a two-step thing step one

00:03:37.640 they built a fleet of arctic offshore patrol ships brand new six of them that can run through four

00:03:43.500 feet or 1.2 meters of ice wow and break it up and especially at this time of year this is when the

00:03:49.900 shipping's busiest and you'll see in the canadian armed forces and all their social media paul

00:03:54.480 showing a lot of the the navy ships and the personnel in all these areas in the arctic

00:03:59.600 because they can get material and personnel and ships and planes throughout the arctic safely

00:04:05.980 because in the dead of winter yeah it's it's not possible sometimes no no well unless you're in a

00:04:12.000 sub a nuclear sub a nuclear sub or the subs that canada's considering buying right which have the

00:04:19.660 capability of operating like a nuclear sub and can spend a long time under the arctic ice cap and

00:04:25.900 that's the big decision for mark carney and for mcginty and for everyone involved in canadian

00:04:31.540 government is what subs they buy because the sooner they get built and sooner on patrol the

00:04:36.520 sooner we can have canadian submarines patrolling our waters because right now it's it's all other

00:04:41.560 countries yeah well it's interesting jim because you know you take a look at the map so we're going

00:04:46.520 to throw up the five uh arctic ocean coastal states right so you look at it and you look at

00:04:53.300 all the people that are in this region right so you have us of course you have russia which when

00:04:58.180 look at this map look at how close we are absolutely uh norway which honestly i didn't

00:05:03.780 really believe you know and denmark of course because greenland um and then of the united

00:05:09.380 states yeah because of the arctic so you know there we are um and alaska i mean and then uh

00:05:16.820 so you look at it and on top of that the number of people who allegedly have laid claim to the area

00:05:23.620 and the precious minerals and every and the and this and that and the resources up there

00:05:28.500 yeah the chinese have a you know they've and it's been rumored we have we weren't able to fact check

00:05:33.940 it you know i know you know and i've heard steve bannon talk about it i've heard other people talk

00:05:39.060 about it you know but uh they say that the chinese have claimed stake to some of it they might have

00:05:45.940 through a mineral resource uh exploration uh company but quite frankly that's just through an

00:05:52.180 investment right in the cold war um in the 1970s b-52 some american bases would come up to see if

00:05:59.780 b trenton in ontario and practice doing bombing runs over the arctic circle to russia because it

00:06:06.180 was the most direct line if things kicked off yeah and they would go over the northwest territories

00:06:12.660 or none of it right over our territory loaded with nuclear weapons and go right into russia 0.78

00:06:17.940 and they practice those bombing runs all the time right and there was nothing the canadian 0.65

00:06:22.420 government could do to stop them because the fact of the matter is we were not pulling our weight

00:06:27.380 as a country we were not buying material the the military is using old outdated equipment

00:06:33.060 so when they said we're gonna do this we were in no position to say no yeah no it's true well

00:06:38.820 and the u.s has been you know listen the u.s has made many attempts to actually secure this area

00:06:44.020 right you know they you know they refer to it you know in meetings as the soft underbelly of north

00:06:49.700 america um because of its location to russia well as crazy as trump sounds that's the whole reason

00:06:55.780 behind greenland yes yeah i mean that's the whole thing behind it i mean he's doing it a very heavy

00:07:02.100 handed you know sort of unintelligent way yes but he's not the first american politician to amuse

00:07:08.500 maybe publicly or privately about the strategic and economic importance of greenland and what it

00:07:13.780 would mean to the usa oh yeah well it's been since you know i was looking before we came in it's been

00:07:18.740 since 1812 the americans have eyed this region yeah right and of course because you know they

00:07:25.380 always thought it was the back door into the nation into north america and you know now

00:07:29.780 technology you know technology which is kind of scary you know because before the show i was

00:07:34.900 listening to some really uh great other podcasting and i i actually did happen on one that talked

00:07:41.540 about uh cyber security in alaska in the arctic and it was very interesting because they talked

00:07:48.900 about um you know issues like sonar location devices blocking um you know and i thought to

00:07:57.380 myself wow that's a really interesting topic but if you think about it jim you know you're in you

00:08:02.020 know sub-zero temperatures for most of the year quite frankly equipment failures can be you know

00:08:07.780 can happen who's better at actually all that technology now or you know they have uh stay

00:08:13.620 the art stuff it's the russians quite frankly they know how to they know how to work in cold weather

00:08:18.740 right so they're good at it you know we're trying but we're limited you know we're limited in

00:08:23.220 resources and you know when i when i looked at it i i looked at the transfer table for how much we

00:08:29.380 spend in this region and this is not militarily this is just to keep this region sort of afloat

00:08:35.620 and we'll throw up the graph on it because you have to fly in everything if if if they if they

00:08:40.180 need bread and milk and butter in the store it has to be flown in from edmonton and winnipeg if

00:08:45.700 their logistic timetable is off people potentially can die so yeah this is how you know tough it is

00:08:52.100 to live here so you know it's about six billion dollars it's really costly so you know and it's

00:08:58.820 It's about, if you look by territory for the Yukon,

00:09:03.300 it's about $34,000 a person per year.

00:09:06.600 So $1.6 billion, it really is.

00:09:09.460 And that's social, health, government transfers.

00:09:12.760 Those are all the things that go into that number.

00:09:14.980 It's about $2 billion for the Northwest Territories

00:09:17.600 because of the expanse of how big it is, quite frankly,

00:09:21.640 which is about $42,000 a person.

00:09:24.140 and then uh nudovic it's roughly 57 000 per person so it's you know we we spend a lot of money for a

00:09:33.020 few people to keep it going um because we as a country we believe it's it's important to our

00:09:42.360 defense and to our to our to our country you're right it's canada right and paul the one thing

00:09:48.600 in the last number last decade or so they've gotten really serious about the canadian army

00:09:53.060 especially the hardcore the special forces infantry they'll go on an extended exercise

00:10:00.300 in the arctic with the they call them the rangers and they're you know native to the

00:10:07.360 north of the north west territories and they'll live there thousands of years and they're taught

00:10:11.840 how to build ice shelters so they don't freeze to death and they spend a lot of time that's one

00:10:16.600 thing the canadian army and even other armies in nato will point out that we have an exceptional

00:10:21.780 skill at living and thriving and surviving in bitterly cold temperatures because we train for

00:10:27.700 it on a regular basis and in a large segment of the population in that part of canada has

00:10:33.520 lived there in that kind of weather for thousands of years thousands of years and have survived and

00:10:39.820 thrived and been great doing it and one thing also the kenny military is doing is they are in

00:10:45.700 the process they're about to come online in the next year or so a series of drones large drones

00:10:51.080 that could spend hours like 10 15 20 hours on patrol so they can patrol the arctic and then

00:10:57.880 they have someone running it on a big flat screen computer in another base in another part of the

00:11:03.580 country and they can monitor so many things and they can see if there's a changing in heat is there

00:11:09.800 a submarine that surfaced whatever it is and that's where the technology comes in they're

00:11:14.660 building the huge arctic surveillance radar i guess it's almost like an antenna dish farm that's

00:11:21.460 going to be built near peterborough that's australian technology that even though it's in

00:11:25.640 the peterborough ontario area and a large tract of land can survey thousands of kilometers all the

00:11:31.780 way to the tip of the northern part of canada so that's one thing the country i think is starting

00:11:36.580 to get very serious paul that unfortunately that is we have a three ocean country yeah and we can't

00:11:43.220 not take care of it we can't not defend it we can't just leave it to someone else to run it

00:11:49.780 yeah no no i'm list jim i'm i'm all for it yeah right and i think it is economically it's

00:11:56.020 challenging i think you know that's something we talked about on the show a lot you know it's a

00:12:00.260 it's a i guess we're at a point where our priorities have to be determined so you know

00:12:05.460 as we as we want to double down and we want to go and we want to secure this area yep we haven't

00:12:11.060 made real big steps so far so you know we're talking about it right now we're having conversations

00:12:15.940 about it you know the submarines whether the planes like if we're gonna do this we have to

00:12:21.540 really figure out this then do we have to try to inhabit this place so do we have to go up into

00:12:27.620 these territories and do we need to create bases and create uh populations and communities housing

00:12:33.540 and community and roads and shopping and you know i guess jim we've kind of we've kind of poked at it

00:12:40.500 you know we yeah no i noticed when i went to the yukon last you know i we flew in yeah you know

00:12:46.580 and we flew in and it was nice i i'm not gonna argue you know i met some nice people i can't

00:12:52.980 say they live super well you know i was they had okay homes they were safe uh the community was

00:13:00.420 small right but you know i left thinking to myself like are we really committed to this

00:13:06.340 are we just are we doing this you know for a small number of people um now it's funny you bring that

00:13:12.660 up because three or four days ago lena dia the minister of immigration for the country brought

00:13:18.260 up the fact that yes we are going to get back to ramping up immigration in a few years but the

00:13:23.780 focus is going to be putting them on more remote rural communities in the country not shoving

00:13:29.940 everyone into downtown toronto vancouver montreal and edmonton and that lends to what you're talking

00:13:36.580 about so that means the government's going to have to look at a modular housing new way of doing

00:13:42.340 things how to get logistics how to get proper food to these communities on a regular basis

00:13:47.380 because you hear the horror stories about someone trying to shop for food in these communities north

00:13:52.820 of alberta and saskatchewan and it's it's crazy the prices yeah yeah no i listen and i think

00:13:59.540 terrific idea if we're going to commit ourselves to securing you know because part of defining

00:14:04.900 your ownership of a place is actually having people community defense uh economy like you

00:14:12.740 you know what i mean like because if you don't what happens someone could take it over they

00:14:17.300 get overtaken yeah right yeah they get overtaken but you know the reason i started off a little

00:14:22.500 bit with the populations because you know if you go take a you know if you go take a definition of

00:14:28.020 a developed country those are the definitions of a country right you have to have an economy you have

00:14:33.620 to you know you have to have people you have to have housing all those things the nine pillars

00:14:38.660 we have at true patriot love are really all the things that you have to have right and that means

00:14:43.780 the government having a a real coherent plan of infrastructure okay we're going to put 50 000 in

00:14:50.020 the yukon 50 000 and note of it 50 000 more people in the north north territories let's have the

00:14:55.620 housing and services and first responders and everything they need to have that many people

00:15:01.940 and then that's something canada as a country needs to be better at we have friends that had

00:15:06.180 a daughter graduated the master's degree in a medium-sized community in nova scotia and was

00:15:11.300 surprised to tell mom and dad there are no apartment buildings where she's living i think

00:15:15.700 she has a job there but it was tough to find she ended up getting like a room and a house yeah and

00:15:20.500 that is something we take for granted in bigger cities in the country that when you get to more

00:15:24.900 remote remote communities and more northern communities is having places for people to live

00:15:30.580 and work and maybe be active is it's not a done deal it's not a sure thing yeah well if we're

00:15:36.980 gonna listen we're gonna go up we're gonna go up uh into the territories if we're gonna secure the

00:15:42.980 territories how many people is it gonna take us it's great what are we dedicating um because i

00:15:48.500 just read the other day this is interesting that we're now talking you know how we had the military

00:15:53.140 shows absolutely they're now talking about eight billion dollars in housing for the for those for

00:16:01.140 all of canada for those areas for all of canada for all yes going into the caf going into the

00:16:06.180 military yes to try to fix up with a problem that's so are we going to go and you know are

00:16:11.780 we doing a hundred thousand uh homes or like you said modular homes or for people to stay for them

00:16:19.620 to go here and the other thing now if you're going to have families right so the you know

00:16:24.180 if i'm going to go up and i'm going to commit myself to live in the uh the north a tougher

00:16:28.980 lifestyle right so then i want a really good school what are the benefits for me to go north

00:16:34.500 to bring my family up right number one i might not be able to get housing here so do i get a

00:16:38.740 supplementation of housing there am i am i paying a hundred thousand dollars for a house in the

00:16:43.140 northwest territories on the base there am i paying uh in the yukon you know what is what is my housing

00:16:49.060 class what are my school are my schools can i get teachers can i get doctors you know one of the

00:16:53.940 things jim that people when i was up there and it was very actually um the the first nations uh chief

00:17:01.460 um that i was dealing with we had dinner and you know that was his biggest issue you know he was

00:17:06.180 talking about it at dinner he said you know we can't keep doctors and when we get doctors they

00:17:10.340 come you know they last they get some experience and then they're off right mike mike and brady

00:17:14.740 said the same thing when they were on their tour of places like sous saint marie and brandon and

00:17:19.540 other places it's it's a it's a country-wide issue and and look if if we as a government are going to

00:17:25.220 spend money why don't we go to paul micucci who just graduated medical school at the university

00:17:30.500 of alberta and say your debt's taken care of you're going to work three years in yellow knife

00:17:35.460 you're going to work three years in white horse and you're like i work three years as a family

00:17:39.780 doctor is a gp in this city and i have no debt school debt that's a pretty good deal done i'm

00:17:46.100 up there that's a pretty good deal to start you start your career that you can go wherever you

00:17:49.780 want and then they could have a rotation of these new students wipe out their debt and then they

00:17:54.820 have more access to health care in these communities and that's that's tax money well

00:17:59.060 spent as far as i'm concerned no it is it is but you know i think that's the you know like a lot

00:18:04.740 things in canada the commitment that we have to show now so you know we talked about it so you

00:18:10.980 know if we're gonna create bases and buy submarines and all that stuff where's the plan that leads

00:18:17.060 people to make that jump to go there and say i'm gonna you know i'm gonna bring my family up it

00:18:21.860 beautiful you know if you can make if you can make it work and you can go to one of these communities

00:18:28.180 you have a nice life it's it's a laid back very nice you know you hunt you fish hey the

00:18:33.620 The Toronto Maple Leafs just drafted a kid from the UConn named Gavin McKenna,

00:18:37.060 and he's the best young player to come into the draft.

00:18:40.120 That's why he went first overall.

00:18:42.340 There is a lot to be said for him.

00:18:43.880 I know Brady said he went on a summer vacation to the UConn.

00:18:46.140 He said he's never seen anything more beautiful in his life.

00:18:48.100 Yeah.

00:18:48.340 And that's a common refrain.

00:18:49.880 You'll see the social media posts from people who see the northern lights

00:18:53.520 in all these places up north.

00:18:56.480 It almost doesn't seem real.

00:18:58.140 It's so beautiful.

00:18:59.140 So, yeah, there's a lot to offer.

00:19:00.960 But it has to be a multi-step thing.

00:19:03.220 doesn't have health care do they have infrastructure do they have a place to live do they have

00:19:07.440 something for teenagers to do when they're not in school well yeah no no i'm with you jim and you

00:19:13.420 know we bring it up you know we've had this conversation before you know iran is it looks

00:19:19.080 like it's coming to an end you know i had to say you know you never know you never know but yes

00:19:23.160 knock on wood yeah but you know is iran's coming to an end and the u.s kind of limping out of out

00:19:29.160 the region or whatever and with their tail between their legs yeah not a lot of bases you know a lot

00:19:34.200 of their bases have been destroyed yeah so now they're coming back so you know western hemisphere

00:19:39.960 supremacy is part of their original plan i don't know where they are now so now do they double time

00:19:46.120 into the region because it's you know it's interesting with them leaving russia now sitting

00:19:51.480 there with iran you know you have an interesting group of people there's an interesting triad or

00:19:57.800 happening now absolutely then does it become more important to get into this region which then is

00:20:04.540 that a bigger pressure on canadians to step up to the plate to show we're doing something or do we

00:20:09.440 just get dwarfed you know do they do they move in and start to say okay we're going to create the

00:20:14.620 infrastructure here for you and you know you you never did you know you don't have this you don't

00:20:19.660 have the submarines you don't have the people you don't have the infrastructure we will right now

00:20:24.700 the only thing in canada's favor is russia has suffered so many egregious losses and there were

00:20:29.900 with ukraine and their economy is in such horrible shape from just trying to keep it going i don't

00:20:36.260 think russia's in a position to have this huge influx of money and everything into the arctic

00:20:41.820 as you envision now america is a different story but that puts more pressure on carney and the

00:20:47.220 government to make that submarine decision as fast as possible to get the boats in the water as fast

00:20:52.940 as possible because by the time they're going to be ready russia may have recovered from economically

00:20:57.820 and everything else from the war in ukraine and may be ready to do a push in the arctic so the

00:21:02.060 timing is is tight for canada and the government to make some sort of decision yeah no i think so

00:21:07.980 and i really do think we got it's we we really do need to commit or someone else is going to just

00:21:12.700 take that spot you know we went through their defense paper i think the 2025 defense strategy

00:21:19.820 for the united states we've done it on a number of shows they say it they do they come right out

00:21:26.080 and they say listen western hemisphere is is where we're going right we want to manufacture at home

00:21:31.480 we want all these things to happen i know there's lots of challenges coming up with midterms and

00:21:35.520 everything else but you look at it and you think to yourself this is a threat and and we need to

00:21:40.480 think through how we want to participate in this area um now russia on the other hand i don't know

00:21:46.560 you know i think you make a great point i don't even know if it's a threat from russia

00:21:50.640 so i don't even know if the rationale would be i think it's basically with everything going on

00:21:56.720 the u.s kind of having to retool themselves i think it is just to get you know the americans

00:22:02.160 like to do that the american you know military always has to have a reason right yeah so you

00:22:08.720 know that's a good point so very good point all of a sudden they collectively create this goal of

00:22:13.040 western security right and they give it a name yes like we used to do in the the old consulting

00:22:18.120 there's where we get in a room and we create a concept you know let's call this financial

00:22:21.700 instruments what does it mean we don't know but that's what it's called let's let's call it that

00:22:25.760 right you know what i mean next thing you know everyone at every cocktail party is talking about

00:22:29.500 the fact that you know they're they're doing hedges and swaps and you know at the point we

00:22:34.480 just kind of categorized it under financial instruments and then you know made a bunch of

00:22:39.080 disclaimers but is that what happens out of this you know after after we you know this upcoming

00:22:45.680 week we're going to have the 250th anniversary i saw this morning you know they're going to have

00:22:50.180 stages everywhere and bands and everything going on for fourth of july um they come out of that

00:22:55.840 they're like okay now you know they're probably there's a probably a bunch of people sitting in

00:23:00.980 think tanks in washington right now that are trying to think of what's the spin strategy

00:23:06.820 technology protocol like what's going to happen coming out of the next round of this because

00:23:11.420 you know before it was let's focus in the middle east now okay let's not focus in the middle east

00:23:17.060 anymore and where do we go next and so but here's here's one thing that we can't discount paul

00:23:23.360 you know if you look at times in american history where they where they had a comeback

00:23:27.380 they use manufacturing and industrial base and that to rebuild to get back on their feet to

00:23:34.780 rebuild and stuff it's all through history right but ai is changing things and the the push for ai

00:23:41.720 and who is leading ai and the impact of ai we we can't even comprehend it yet and there are other

00:23:49.040 countries that are spending a lot of time and money to try to be at the forefront on ai where

00:23:53.860 a lot of americans are arguing over you know film uh you know the guy from philanthropic and um you

00:24:01.520 elon musk and all the different people involved offerings yeah and you know what are they doing

00:24:06.480 and what's their goal well these other countries they're not either they don't care what the goal

00:24:10.720 is they just want to be number one when it comes to ai and what it means to their country and that's

00:24:15.600 one thing when carney has his list of issues in the government it's worrying about the north and

00:24:21.120 making sure we have our sovereignty dealing with our economy are we what is canada's role in ai

00:24:27.440 because i think that you can't that is like number one one a for every conversation because

00:24:33.360 if we get left behind in ai what does that mean to the canadian economy well it's interesting so

00:24:37.760 i was at a meeting on friday and there's a few government officials there and uh you know they're

00:24:43.840 trying to right now they're trying to throw money in it through uh development right so they're

00:24:49.280 trying to get they're trying to get funding into it through transfers a think tank projects all this

00:24:54.320 stuff uh because they realize we're we're almost in last place in the developed world as far as

00:25:00.720 ai development goes right now we have that's not good no that's not good we haven't kept pace and

00:25:05.520 so therefore robotics ai all those things they're trying to put priority you know but it's a catch-up

00:25:11.200 game again yeah we're in this we're in this slow catch-up game which you know it's interesting we

00:25:16.480 talked about submarines again we're in this slow decision making process where like you and i have

00:25:22.800 had this discussion on submarines for six months oh longer eight months yeah nine months yeah you

00:25:29.680 and i did a show it's funny one of our we've read almost 600 shows now i'd probably say about on

00:25:36.000 about a hundred we had the submarine the discussion within government offices has been going back

00:25:41.040 years before that i know but we were and we were and the funny thing is we went and did the show

00:25:46.880 where we talked about the allocation of funds per the budget so they had it right yeah we're like

00:25:51.680 okay the money's here like it's not an issue of finding allocation of funds right there on their

00:25:57.280 desk to use it is you know it's allocated it's in that 78 billion dollar deficit budget it's there

00:26:03.360 we allocated we looked at it jim and we said to ourselves okay great we had the you know we had

00:26:08.000 the debate nuclear versus non-nuclear i thought it was a good debate um you know and i i agree with

00:26:13.520 you in the end on it where you were and but here we are again so again it's committing ourselves

00:26:19.760 to go in that direction because i think coming out of big and i said this on another show you

00:26:26.320 can't take the summer off now right you can't be taking the summer they there's so many things

00:26:31.680 if you combine all the things happening on the geopolitical like uh agenda right now in the world

00:26:39.120 and then you take a look at where we are financially right and and it's crazy right now

00:26:45.840 uh there are people talking right now about uh the bubble bursting there's lots of there you know

00:26:52.560 there's lots of the real estate bubble you're referring to no no just the monetary bubble

00:26:56.960 they're talking it's nasdaq and and basically yeah tech stocks yeah they're talking about the

00:27:03.120 overvaluation and it was something you know people talked about a little bit uh you know

00:27:08.240 i'd say six months ago i picked up on it i'm like ah yeah i kind of think that way i haven't been in

00:27:13.040 it for a while so i you know i read about it and now you're actually seeing it almost almost on a

00:27:18.640 daily basis someone's saying okay this bubble's going to burst this that's concerning offerings

00:27:22.960 and when that bubble bursts right you know and like any great innovation that's happened throughout

00:27:28.720 the world throughout our times when that innovation that's supposed to spearhead us burst it usually

00:27:34.160 means you know tough times for a period of time like it means you know uh deep recessions you

00:27:40.960 you know and and a tough run for you know a long term period now if that happens right then you're

00:27:47.860 into large government projects right you remember that you've lived through it jimmy in your life

00:27:52.820 and i've lived through it you know when bubbles burst you you have to go to large you know whether

00:27:58.160 you're building a dam whether you're building a city whether you're building this one sits here

00:28:02.660 when i look at this you know and i prepare for this arctic show and i'm looking at uh you know

00:28:07.060 these territories i'm thinking to myself what better you know because i'm not convinced our

00:28:13.860 money should be in mining i you know i'm we've done a number of mining shows there's some mining

00:28:18.240 projects i do look at mining speculative and you know anyone can you can go argue with me six ways

00:28:25.260 to sunday there are some great mining projects i'm sure around we see them you know but for the

00:28:30.560 most part a lot of it's very speculative you know it's hit and miss it's it's it's it's like going

00:28:35.640 the craps table and you know uh you don't always roll seven yeah yeah you don't always roll seven

00:28:41.000 but there is there's substantial risk yeah going in you know if you're going to defend our country

00:28:46.680 by the top half of our country that's a no-brainer and that doesn't have to include risk that's just

00:28:51.880 hard work well and then harney last week did announce the expansion and construction the

00:28:58.040 mckenzie valley highway they're going to spend a lot of money on that so that's that's a good step

00:29:02.440 But the Globe and Mail, there was a great op-ed piece last week about the entrepreneurial spirit in other countries as opposed to Canada.

00:29:11.960 And they said, you may not like Jeff Bezos, you may not like Elon Musk, but they were given the platform to be entrepreneurs with the way that government in the USA works.

00:29:22.780 and he says right now in canada it is too restrictive and too regulatory for a young

00:29:29.220 entrepreneur or whatever age they are entrepreneur to come up there could be someone somewhere in

00:29:34.920 canada with the next great ai idea or idea and that's being constricted by regulations and taxes

00:29:42.540 and red tape and eventually what happens is what we're seeing in california in america

00:29:47.700 is they're doing in california and all the good entrepreneurs are moving to other parts of the

00:29:52.480 united states because they don't want to deal with it and if you're you're an entrepreneur with a

00:29:56.640 great idea you think is going to help the arctic or help the country or change the life for the

00:30:02.220 better for canadians and they're not letting you do it you're going to go somewhere else we're in

00:30:07.080 calgary i think i don't know if i told you the story but it's a great story we're in calgary

00:30:11.020 and a good friend of mine says come from you got to see something come for lunch downtown

00:30:15.760 so we go to this beautiful building where his office is down right downtown and uh calgary

00:30:21.660 we go up to like the 30th floor and he takes me to a coffee shop oh and he says you know i invested

00:30:29.380 in this coffee shop and so i said oh this is really neat and i go in it's just a non-traditional

00:30:34.260 coffee shop in a very large office building go in and i'm sitting there with him and i'm saying okay

00:30:39.500 what's the business model for this because it this looks like a think tank he says yeah you you got

00:30:45.000 right he says right across the way he says these are all the people that are sitting here waiting

00:30:50.900 for their immigration to go through to the u.s and they're living in calgary right now doing all

00:30:56.380 their development hubs so this is their development hub before they get their immigration into the u.s

00:31:01.300 so they're laying their blueprint and foundation here and then going there waiting to go there to

00:31:06.380 get financing so they they pitch their projects in america it's easy to hop from you know from

00:31:11.640 west coast to get into the u.s is easy yeah so they wait for their call they make their plane

00:31:17.080 rides they actually pitch for money in the u.s they don't pitch for it here and so he says come

00:31:22.520 with me and we walked around and he says now let's go to the second floor like you have two floors

00:31:28.760 that's this he says he says there's so much demand for this he says i sell it and i sell it for a

00:31:34.200 very high price and these incubators he says they these guys come in and they bring like 30 40 people

00:31:40.440 right they get temporary residences they work out of these uh these hubs you know the incubator

00:31:46.440 i've created and he says i get great you know each one pays me x a month and i go wow this is a good

00:31:52.740 i go this is a great business model i said i'm sad because we made me very sad i'm very sad

00:31:59.560 because everywhere i drive around in calgary i'm seeing these six plexes go up and i said you've

00:32:04.840 really burst my bubble because quite frankly i thought these guys yeah were the guys moving into

00:32:11.200 all these six plexes i said well who's moving into the six plexes he said no these are most

00:32:15.380 of the people moving to six plexes are just renting a room wow they're not renting the

00:32:20.240 whole six plex they're just renting them out as room by room and they're in the six plex and

00:32:24.380 they're sharing the kitchens wow right i said oh man this you're blowing me away here this is not

00:32:29.240 good right like this is not a good scenario here i said these are the people we'd like to keep

00:32:34.140 so i agree with you jimmy and i think that great article because you know you look at it even the

00:32:39.400 way we fund like even the way we fund new startups right now you know we're still funding new

00:32:46.220 startups um by who you are what you represent versus your idea it shouldn't be like to me it

00:32:55.320 should not matter to tell you the truth i don't really care what what color race right religion

00:33:01.120 whatever you are i really don't care you have a great idea male female whatever you are you should

00:33:06.880 all get the same funding you should get the same it shouldn't have to but we still haven't been

00:33:11.680 able to we're still tailoring it well groups which lends to the whole laurentian elite argument that

00:33:20.560 unless you're part of it you don't get you're not part of the club and you don't get access to it

00:33:24.960 because you're right it doesn't matter who you are what you are where you're from if you're

00:33:29.200 canadian say hey i have an idea that's gonna be you should have access to the same funds

00:33:34.080 and government support as anybody else exactly and we're not doing that i mean i can tell you

00:33:38.800 from i just had a first-hand experience on this one and uh it was very interesting and i left i

00:33:44.160 walked away i said i don't know you know if i'm a if i'm a young man right now in this country and

00:33:49.520 i just heard what i just heard i'm not sure i'd i'd be looking at things differently right so

00:33:54.880 you know and i've been here long enough i'm you know i'm going to stay and live here till the end

00:33:59.200 of my life but but i don't know if i was in my 20s i'd be looking at it that way and it's a shame

00:34:04.080 and i did you know i think i you know i've said it on shows i felt that way um i felt that way

00:34:12.000 in the late 80s when they had the real estate crash early 90s that's why i left you know that's

00:34:17.360 why i got on a plane i said listen there's got to be a better place for me i'm just feeling

00:34:21.280 i'm feeling like i'm not appreciated and i don't have place but you know honestly if you would have

00:34:25.920 said to me and i'm preparing for the show if you would have said to me at that time you can make

00:34:31.120 some great money and you can get some uh good housing go north right i would have done it

00:34:39.280 because number one i'm handy right number one i like to build so quite it would have been nice

00:34:44.080 for me and number two i would have been able to start my family in a more reasonable way

00:34:49.440 pay off my debts get my kids educated and maybe gotten the first five years under my belt with

00:34:55.200 some cash in the bank and not not had to and then go to the next stage your life not had to lever

00:35:00.320 myself so highly and had a more relaxed middle yeah you know i'm going on a tangent for no no

00:35:06.640 please but we talk about the fact that our birth rates are down yeah right and there's a lot of

00:35:11.520 social and economic reasons we're going to do other shows on it but if i have to worry all the

00:35:15.920 time about all these these other issues you know whether i can afford my mortgage whether i can do

00:35:21.120 all these things where i'm in a healthy environment crime if i can if i can get away to a place where

00:35:27.680 i don't worry as much about crime worry about paying my bills have fresh air have organic food

00:35:34.960 right and live kind of a more healthy life in the north i'm probably doing that but because

00:35:41.280 at that time i'm i'm running i'm adventure racing already with a team so at that point in my life

00:35:47.920 i'm already adventure racing with the motor home and traveling across the nation actually running

00:35:52.960 races i would have been gone paul i drove on the 401 by cambridge on sunday heading back from the

00:35:59.600 stratford seeing a play with my partner and there was a dozen campers in the parking lot people

00:36:05.360 living there on the highway because they can't find a place to live once upon a time in the late

00:36:12.340 1800s this country built the great canadian railroad because they maxed out of farmland

00:36:18.380 in ontario quebec and they wanted to expand farmland out west which they did but we're

00:36:23.280 starting to max out of population of the big cities in the country and it's time to start

00:36:28.080 thinking about the north and the territories and the yukon and what it has to offer and what we can

00:36:33.560 do and spread things out a bit because i think it's going to be better as you say for people

00:36:37.640 young people looking for adventure looking to make their stake in this country and also good

00:36:43.040 for the country as a whole makes us better and what happened around the railroad time

00:36:46.920 huge expansion huge economy everything right but before the railroad was built was a bust right

00:36:53.440 absolutely right so the economy so it's interesting to look at what's happening so

00:36:57.440 when we talk about where things you know are predicted to go you know again you've seen

00:37:03.060 busts and booms our whole life so quite frankly if we do see a bus now so if if we do see you know

00:37:09.300 things the recession we can't call a recession yeah well you know honestly if the stock market

00:37:15.860 realigns that's something we haven't talked about and you know it's funny it started as i mentioned

00:37:20.740 it's starting to come up if the stock market does realign like they're talking about we are into a

00:37:25.300 full-on recession yeah so therefore no matter what spin you put on it no you can't spin that one that

00:37:30.340 And quite frankly, we talked about it on another show

00:37:34.620 with Iran right now, always back to Iran

00:37:38.100 because this oil, one-fifth of the oil control.

00:37:41.800 If Iran and gas and oil, it realigns

00:37:44.920 and we go back to regular pricing,

00:37:47.220 we're really sitting in a funny spot

00:37:49.720 if the stock market tanks.

00:37:50.940 So if the stock market tanks, then quite frankly,

00:37:53.280 and tech stocks don't go up,

00:37:55.140 then we're sitting there going,

00:37:56.120 okay, how do we realign this country?

00:37:58.260 And it's happened before.

00:37:59.440 it's not absolutely not doom and gloom it's happened you know five times in my lifetime

00:38:04.720 major and minor so quite frankly you have to then sit down and say okay what major projects are we

00:38:12.240 going to lean on and this this one to me looks like one that we should be leaning on we should

00:38:17.600 be going north and figuring out what to do now how do you get north that's the problem right so

00:38:22.720 that's that's where the government comes in and creates the infrastructure right creates

00:38:26.880 provides proper roads and highways and everything they need in the hospitals and healthcare and

00:38:33.080 daycare and school so there's a place to go to so when you go and check it out like am I going to

00:38:38.480 stay there there's something there for you yeah well you know and and this is I think this is just

00:38:44.580 sitting staring us in the face you know over the weekend we were talking about it was a hot weekend

00:38:49.140 we're going to have we're going to have a super hot week I think we're going to have a super hot

00:38:52.340 summer that's what they're saying with the super el nino yeah so so quite frankly the weather's

00:38:57.200 going to be hot you know probably a culmination of a bunch of things coming together not a great

00:39:03.900 thing for uh the civil content yeah that's a good way to put it let's put it that way so you know we

00:39:11.040 have a we have a bunch of things happening we have hot weather we have economic downturn we have a

00:39:16.340 bunch of things i know they're sitting there and they're celebrating this weekend and we should

00:39:21.060 celebrate but when we're celebrating we should be announcing things we're celebrating not

00:39:26.940 again people a parade is a great thing to sub you know and it's sport it's a sport's a great

00:39:33.380 thing to celebrate you know i know you're a big fan i get i know but we're celebrating these

00:39:37.800 things the problem is we should be celebrating these announcements now so this this is what

00:39:42.580 worries on shows i talk about all the time this is where i'm getting nervous i'm getting nervous

00:39:47.620 because i'm watching and i'm thinking to myself okay we got to celebrate the new pipeline we got

00:39:53.380 to celebrate we got to celebrate the highway we got to celebrate this paul the new uh you know

00:39:59.300 housing project going in in northwest territories you know because when the pride parade's over

00:40:04.500 it's gone for another year when the world cup ends on july 18th it's gone for four years so

00:40:09.860 when you're in mid-july and all the parades are over and all canada days over and all the world

00:40:14.660 cup fun is over then what well that's you know they're leaving you know it's what and they've

00:40:20.580 said it before they're i hope they filled the gap but they were 750 000 short going into the parade

00:40:25.900 they run no but i mean to what you're saying is we have to clean it all up right no but the

00:40:31.340 country as a whole once with all those distractions and all those festivals are over

00:40:35.260 yeah i hope that's when they get serious about announcing this this and this and start thinking

00:40:39.620 okay the fun's over we had the parades and the festivals in canada day and the concerts

00:40:43.960 and the world cup fan fest it's great but now we got to get to business and get to work

00:40:48.220 now the interesting thing so for a lot of people to watch so uh july 4th having lived i think he's

00:40:55.600 going to make a new set of announcements the trump yeah oh so i think what you're going to see

00:41:00.740 for america 250 okay put the prediction

00:41:03.320 no no i think i think we're going to see a new set of predictions uh or new set of announcements

00:41:12.040 that he's going to come out with uh you know the one thing we learned remember it was interesting

00:41:17.080 uh venezuela we all these things one things one thing about the americans they're thinking now

00:41:24.520 so when we're thinking about vacation you know he was like you know i i'm i'm gonna go into

00:41:29.320 venezuela what was it christmas day or yeah whatever right they're going right the the

00:41:35.800 rabbits in the cage or the you know and the the mouse is in the cage and it's running as fast as

00:41:40.040 it can run i think coming out of this 4th of july given everything that's got on given where he is

00:41:46.600 in the midterm he's going to start making a bunch of announcements that he wants to you know that

00:41:50.760 pen's going to come back out again and he's going to be signing declaration saying we're going to do

00:41:55.160 this and we're going to do that and here's we're going here because he's got to distract everyone

00:41:58.840 from what just went down right well because the the economic cost of what they did in iran is

00:42:04.040 it's catastrophic how much money they spent i wouldn't be surprised if this region isn't on

00:42:11.160 the table in that discussion i wouldn't be surprised they wouldn't be surprised so much

00:42:15.640 population and resources and military support already in alaska yeah it's already there for

00:42:21.400 america it wouldn't be that much of a stretch to do more there yeah exactly so i think i think

00:42:26.680 stay tuned you know and also quite frankly he's got to be looking at his economy he's got to be

00:42:32.600 worrying about that the best 100 west the best way to stimulate the american economy is to keep

00:42:38.440 the war machine going if the war machine slows down in other parts of the world because quite

00:42:44.440 frankly they just don't have the swag anymore he can't just he can't just stop he can't just sail

00:42:50.280 back he's got to rebuild somewhere he's got to recommission he's got to re-arm it again and and

00:42:56.920 those are all the things they they're going to get active doing and part of that is they have to align

00:43:01.720 you know there's always got to be and and and you know this is their moniker there's always got to

00:43:06.520 be an enemy somewhere right because then we're preparing for something right and so quite frankly

00:43:11.640 i think this is one of the regions they're going to say listen we got to secure uh because otherwise

00:43:17.000 they're going to roll into alaska or take yeah yeah exactly so that's why i think this is a major

00:43:22.040 focus so i hopefully mark carney does take a little bit of time for a well-earned vacation

00:43:26.600 but then not too much time that he gets back to work and starts making announcements and getting

00:43:31.320 stuff done i think a lot of canadians would like to see that because as a country we need that paul

00:43:35.480 july 1st was supposed to be the next announcement for all the major projects so when i talk about

00:43:40.840 americans making announcements well let's do this let's get in front of them and make the july 1st

00:43:47.240 announcements how good would it be parliament hill the k i've been there the canada day celebrations

00:43:52.680 by the way happy 159th birthday we're doing this this and this yeah go team canada go team canada

00:43:59.960 and by the way here's the next six projects you guys this is our future let's get into it yeah

00:44:06.280 yeah yeah canada first thanks paul happy canada day happy canada day

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True Patriot Love - July 08, 2026

The Arctic： Canada's Northern Development

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