True Patriot Love - February 22, 2026


Which Canadian Industries Are First to Fall？


Episode Stats

Length

34 minutes

Words per Minute

193.03378

Word Count

6,643

Sentence Count

21

Misogynist Sentences

3

Hate Speech Sentences

4


Summary


Transcript

00:00:00.000 today on true patriot love i'm lucky enough to be joined by mike wickson and jim lang
00:00:09.000 talking about kuzma and what's going to happen and which industries are in the most danger so mike
00:00:16.080 why don't you kick us off because you and i've been having this conversation pre-show
00:00:20.620 yeah and i am astonished industries i didn't even think about well it's so funny how it kuzma
00:00:28.600 has seeped into everything because you know just from the trade uh elements uh that go into stuff
00:00:36.840 manufacturing elements transportation elements all of these things peril apparel everything gets
00:00:42.600 affected in some way uh and it's funny because uh i came up with a list of the sectors that are in
00:00:48.680 danger and uh the the ranked by the speed with which they would be affected and and potentially
00:00:55.320 really uh even die oh hit us yeah all right so the first one obviously is automotive and auto parts
00:01:01.880 and it's exposed in north america because vehicles are built through this cross-border linkage yes of
00:01:09.280 supply chain which has been around since the 60s and in fact it extends now widely into mexico so yes
00:01:15.820 yes there's you know two borders on this one that are heavily affected getting cars into canada um any
00:01:22.380 return of tariffs like paperwork delays or rule changes it hits the cost in the bottom line of
00:01:28.380 cars really quickly you know it reflects on the price of cars almost instantaneously and check
00:01:33.800 because you know even today we see the prime minister right out into market right yeah he's trying
00:01:39.000 to figure out a pivot point and you know evs which we started and then look like we're you know
00:01:45.040 the the life of an ev car is uh uh it's like a roller coaster right we're back baby we're back
00:01:51.380 imagine being in the ev business right you know you're in the battery plant up in months
00:01:56.060 in the battery plant up in windsor right waiting for the news honey i think we have to move
00:02:00.380 the realtors are having the hardest time right now okay cancel now yeah um but essentially yeah
00:02:09.620 you know production uh decisions are often based on these very factors you know how can we get trade
00:02:18.660 how can we get parts what's being taxed what's not being taxed and how do we keep it within the range
00:02:23.580 of affordability based on each of the brands well think about it if you're in if you're in the
00:02:27.540 automotive business and you're in parts coding whatever it is to do with automotive would you be
00:02:33.260 uh buying machinery upscaling no you wouldn't be doing anything right you got to wait it out you got
00:02:38.720 to wait till july 1st so what industry okay so this is interesting what industry can sit a year
00:02:44.120 without doing anything and come out of it okay oh no this is it's it's devastating even over six months
00:02:50.640 yeah and isn't the actual tool and die necessary for making the parts isn't that a complicated process
00:02:55.780 oh it takes it takes like a year in advance right oh you got to get the line ready you got to get the
00:03:00.460 parts in you got to get like it's a very right yeah remember i don't know if you ever uh elon musk i
00:03:06.480 don't know if you ever uh read his book so when his uh um tesla was failing or struggling yes right
00:03:14.400 he went up and he couldn't produce the cars enough to hit his uh debt financing targets so they were
00:03:19.760 gonna they're basically gonna pull his financing away huh so he went into texas i think it was and
00:03:24.700 he actually rented an old airstrip and he put tents on the airstrip and he increased his production line
00:03:31.000 um and he built it basically had the cars going down and he stood there and when there was uh
00:03:37.920 something slowing down he'd walk down the line and sit there and watch it and fix it right there
00:03:42.780 night and day and then sleep under his desk i heard that he was sleeping yeah wow just off the production
00:03:48.640 floor oh yeah but fixing every problem along the manufacturing process yeah that's how finite the
00:03:54.800 profitability is yes on on auto oh yeah out of this out of this basically old airstrip that he
00:04:00.860 had tented out to make it work to hit his quota wow to keep his financing to grow his company so while
00:04:06.860 we wait it could be that all erodes right and then oh hey we can do this now but it's going to take
00:04:13.440 the like wait i need time to get it going okay so well assembly is one of the things that's obviously
00:04:18.760 affected but what you're talking about is the next thing that really takes a hit just in time
00:04:24.760 parts and logistics well i mean that's why they built the gordy howe bridge in windsor detroit right
00:04:29.780 yeah let's say the the busiest border crossings in the world or the peace bridge and now the
00:04:34.840 gordy howe bridge so now if you're waiting for parts to your point that productivity goes down the
00:04:39.580 cost of vehicles go up so yeah everything in that process so that's number one yeah uh most likely to
00:04:46.620 be damaged first and and ranked by speed of damage in under six months we would almost be out of the
00:04:51.880 car game wow the uh manufacturing game yeah the next one's uh agri-food and food processing and it's
00:04:58.080 exposed because of perishable goods and integrated processing uh country of origin labeling fights
00:05:04.460 and uh immediate disruption risk so if a certain category of agriculture is affected uh canola was one
00:05:13.040 that we've seen previously it it really halts an entire farming industry i looked it up dairy in
00:05:21.020 canada contributes 20 billion dollars to our gdp yeah 20 billion 20 billion wow and it's that big
00:05:29.160 and that's one of the things they're talking about is the subsidies we give to the dairy industry
00:05:35.240 in quebec and ontario mainly that's the bulk of our milk and cheese and whatnot um that's a huge part
00:05:41.460 of our economy when you think about it that's just dairy okay so look here's who's on the list at the
00:05:47.260 top beef and pork processed foods grains and oil seeds logistics supply managed products become a
00:05:54.400 negotiated target so dairy could be one of those negotiating targets okay we're gonna we're gonna
00:06:01.240 close you guys off on so now kuzma without kuzma you're negotiating every single uh trade opportunity
00:06:07.620 in each of the categories under food agra uh farming overall uh in canada so each of those categories
00:06:15.440 would have to you know fend for itself wow i can see you know interesting because eggs poultry dairy
00:06:23.080 like they all get affected right because those are the ones where supply manage like crazy here
00:06:28.460 because yes we want to protect them to keep those industries alive and not let the u.s come in and
00:06:33.780 and saturate the market and that's a problem because my wife has cousins who are dairy farmers
00:06:38.380 in rural ontario and they say the danger is some of those super farms in the states have five six
00:06:44.680 seven times the herds yes that they milk every day twice a day sometimes three times a day with the
00:06:50.500 robotic milkers yeah and they're instead of milking 120 150 a farm they're milking 800 to a thousand cows
00:06:57.560 a farm yeah it's tough to compete with that u.s market although i wonder if canadians would accept
00:07:02.000 u.s milk i guess at the right price yeah it'd be significantly lower yeah you know and and that
00:07:07.840 was the it's interesting so when we went out to calgary that was one of the reasons that was thrown
00:07:14.080 on the table for separatism because of the the potential to hurt the agricultural industry the
00:07:19.720 supply management challenges that that got a basically the other provinces were afforded supply
00:07:26.120 management issues and were taken care of to make sure that their farmers and those people had a high
00:07:31.200 net worth they weren't given the same uh courtesy yeah uh in alberta and they felt that that was a
00:07:39.140 disservice so yeah by and large alberta has been ignored on their supply chain issues left to their
00:07:44.060 own devices anyway yes yeah yeah so and being a rancher out there and being a canola farmer probably
00:07:51.360 isn't really easy work that is i mean you want to talk about working for a living and it's like the old
00:07:56.600 that is you're up before the sun and you're in bed long after it sets and it's seven days a week 365 a
00:08:02.800 year by the way it's terrifying to me that agra and food is number two on the list auto i can live
00:08:09.040 with the notion that we might have to retool but when our food situation is already so expensive in
00:08:15.800 canada feeding ourselves is such a challenge already to be without a deal in place in north america to keep
00:08:23.300 that stable i fear canadians would end up paying a hell of a lot more uh at the checkout well and i
00:08:30.220 think that's one of the reasons carney did the deal for the chinese vehicles because that opened up the
00:08:34.560 canola market to china which is worth billions and billions to western canadian farmers yeah but you
00:08:40.760 wonder so you wonder now leading up to july 1st if you know if we do get snubbed at july 1st and he
00:08:46.580 says no let's do one-on-one agreements then should we be doing more on the agra front to secure
00:08:53.680 ourselves so that's you know and that's a great point paul we need we've only been talking about
00:08:58.700 cars cars cars no but we if as long as we're talking about feeding ourselves you're right i think that
00:09:03.560 really it's time as a nation we we created a really solid uh approach to feeding ourselves
00:09:11.340 feeding the nation and then also our exports because if that starts to fall the cost of living
00:09:17.440 here will skyrocket right do you know do you know how much a farmer a dairy farmer gets for a thing
00:09:21.900 of butter in the store that costs seven or eight dollars i'm curious about that 45 cents yeah i was
00:09:25.560 going to say what are we paying i think it's like 18 to 19 and you go to no frills and it's on sale
00:09:31.460 for 650 and you're like they have limit two for customer so you don't load up right because they
00:09:38.520 think it's such a bargain that's all they make yeah i've heard that before it's crazy it's crazy how
00:09:44.460 it gets marked up but but then everybody gets angry when farmer subsidies come around okay well there's
00:09:49.620 no way for them to survive and provide us butter in our own country unless we subsidize them because
00:09:53.540 we've beat them so low on price but you know with our climate so it's interesting and climate's
00:09:58.040 becoming a more of a topic you know of course whatever side you're on on the topic but cold
00:10:03.820 winter as we're having now all right so you see how food you know uh producing food producing
00:10:09.280 anything in canada is difficult on the agro side right yeah it's time to actually sort of readdress
00:10:15.720 that and go back are there large greenhouse projects are we are you know what type of foods are we
00:10:21.260 bio fooding like what are we doing right like just we don't talk about it a lot and we are sort of
00:10:27.420 captive to the u.s goes away you know and they're not going to deal with this anymore then we're
00:10:34.000 going to go to south america well it's interesting because if you take a look just out of the border
00:10:37.940 uh of the u.s and new mexico uh hothouses greenhouses and uh agra has become very advanced because we
00:10:46.520 they have that market right and we've we've just gotten accustomed to buying out of that market
00:10:51.560 rather than supporting ourselves and you're right yes we have winter in in most of canada uh for a good
00:10:57.180 chunk of time but there's technology to get around that you know hydro farming is a big thing um you
00:11:03.620 know there are to your point i think there need to be solutions well especially when you read a
00:11:08.940 national security paper by the u.s that calls western domination the western hemisphere domination as a key
00:11:15.440 objective right right so then you start thinking yourself well if you're going to control the
00:11:19.340 hemisphere i sure as hell want to produce my own food right that's the number one i do notice
00:11:25.320 gentlemen even above cars at my local grocery store all the citrus are from morocco oh okay
00:11:30.960 yeah yeah yeah so the citrus is from morocco africa and then they're like taking this from here and
00:11:36.540 there so because they know a lot of clementines though but i know a lot of their uh canadians
00:11:41.640 refuse to buy american-made produce so the suppliers for all the grocery stores in the country
00:11:47.180 are really going to central and south america mexico africa spain gibraltar you name it yeah
00:11:53.760 it's interesting to see the products changing before our very eyes yeah doors isn't it so when
00:11:58.800 i was when i was living down in florida one of my neighbors actually that's what he did he was a
00:12:04.200 buyer oh right uh for chiquita banana uh yeah so he get a banana yeah he used to go all around the
00:12:11.080 world and buy product huh and so he would show up back at home and he'd always have all this weird
00:12:17.160 exotic stuff that he'd be giving me it was very interesting but but the stories he would tell about
00:12:21.780 like uh going in and needing security and being kidnapped and all this stuff like it was crazy
00:12:27.780 for banana farms with these fruit buyers that go through to get what like it's not an easy job
00:12:33.600 like that it should be actually it's like land man that should somebody should document it it could be
00:12:38.820 a tv show wow because you figure you're right like all of a sudden you know you're buying product from
00:12:44.220 florida yeah now i can't go to florida i gotta go to africa exactly right you know and then there's
00:12:50.140 inherent dangers exactly it's definitely a different vibe no matter where you're going to
00:12:54.320 buy it from and different rules and oh yeah you're going to africa competing with the russians who are
00:12:58.560 trying to get it you're competing yeah there's all you know africa is being sort of taken control of by
00:13:04.400 different factions right now china's there in a big way yeah rams are in a big way yeah
00:13:08.140 so interesting times number three on the list and not surprisingly so energy and electricity trade so
00:13:14.920 it's heavily exposed uh kuzma goes away and there it is wide open canada u.s energy markets are
00:13:21.360 deeply integrated so if you think about it yeah our our our energy really is back and forth with
00:13:28.420 well our last show you broke that down paul yeah yeah go crazy it is yeah yeah so with you know uh
00:13:34.440 natural gas you know crude oil yeah like we make up a substantial amount that goes into the u.s. 10
00:13:40.500 of natural gas is ours that goes into the u.s. you know 60 is crude like it's it's a big number it's
00:13:48.140 a big number right so and that's a you know that's our our ace card that we have but it's just how do
00:13:55.960 we use it we've always looked at it where we kind of you know doug ford went right there and then i
00:14:01.580 think he got the phone call time out you got to back out right now i'm not ready to play that card
00:14:05.600 right yeah so you don't hear much about it anymore but it is something that you know is going to come
00:14:11.120 up and come july that's a conversation that has to take place this should be lower on the list sorry
00:14:16.740 no go ahead no please this should be lower on the list of uh based on speed of uh disintegration
00:14:23.340 based on how important it is like food it should be at the top of the list it shouldn't be
00:14:29.240 you know maybe number three and it shouldn't even be brushed aside to any degree and and the reason
00:14:34.360 for that is it's barely sustaining that's why it's number three and that's why it would fall off to
00:14:40.420 the fall off quickly because it's barely sustaining itself well and for the on the american side it
00:14:44.900 should be like number one did you see all the power outages in the storms that was incredible
00:14:49.440 horrible millions and millions sweeping across you know oh they got two feet of snow oh all the lines
00:14:54.180 are down we're out for like two weeks they have people still who haven't recovered in georgia
00:14:58.760 getting power back like and this goes on every year remember texas when all the people died
00:15:03.540 left here and you having lived it i went through two hurricanes in florida i can i can tell you
00:15:10.460 about on another show uh going into the grocery store it's a very american thing which i was
00:15:15.420 totally freaked out about when i first got there nothing on the shelves oh because they yeah if you
00:15:21.180 see it on cnn they clean it out right oh yeah it's weird it's weird as a canadian i don't even think
00:15:25.560 about it you know i always know that i go to the grocery store there's food there so i kind of go and
00:15:29.420 it's never cleaned out we go through storms we don't clean out stores we buy an extra steak or
00:15:34.620 panic over one item like toilet paper no no like you live you go there in a hurricane if you're
00:15:41.140 three hours late you're done gas station gas pumps are locked up grocery stores are barren and you're
00:15:47.720 done there's no gas there's no they take me and they pull up with like big containers and just fill
00:15:53.260 it all up gas they they take 10 shopping carts of food because they know that the infrastructure
00:15:59.660 is so antiquated that they could be out of you know gas and food for two weeks but paul the first
00:16:07.200 part of this series you broke down the the tight relationship with brian mulroney and ronald reagan
00:16:12.060 yeah which which evolved to jean christian and bill clinton and then later it was a
00:16:17.100 steven harper and obama yes and then that's right i forgot everyone got along yeah right and then
00:16:22.600 oh yeah we want to ship like there was never this was never a thought for decades because we all had
00:16:27.440 these you know reciprocal agreements that everyone agreed to and everything worked great yeah thanks
00:16:33.360 for the gas and oil we're going to keep the heat on now you guys have been going down the the rabbit
00:16:37.440 hole i got to join you today but you guys are a couple of shows in is and we'll get back to this but
00:16:42.920 kuzma seems to be the uh the equalizer the the thing that we've been able to base our trade on
00:16:52.020 in north america for some time now what do you think are the determining factors for the u.s to say
00:16:59.860 yay or nay to this uh and for the whole group to stay intact real quick for me it's the whim of trump
00:17:07.000 and his sycophants who surround him if he's in a bad mood at negotiation and no one wants to question
00:17:14.000 him all his little butt kissers that's that will lead sort of the direction of the negotiations
00:17:21.240 and the tone of it is to go into it if he has some sort of change of heart and he's thinking
00:17:26.220 differently then they'll follow his lead do you think that we're okay if kuzma blows up
00:17:30.720 uh do i think we're okay i think we have some challenges i think they're almost worse so i think
00:17:39.200 the u.s has more challenges than we do and i think he's underestimating that i think you know jim and i
00:17:45.260 talked about this earlier i think part of kuzma comes out of how bad a state their economy was when
00:17:50.980 he took over and how dreadful things were whether it be crime drugs economy everything it was awful
00:17:57.020 right so he had to kind of make some swift changes then i think we were in the target zone
00:18:02.920 yeah we were that's why we got hit and uh so that's that's what my view is but no i think i
00:18:08.540 think they're equally or more affected by kuzma going down because for the first time if you look
00:18:14.620 at the history which we went through on the first show energy's really never been talked about it's
00:18:20.040 been one of those 14 14 month negotiations you know energy's been okay we all agree uh oil and gas
00:18:26.340 natural gas uh tariff free yep okay jack put that one aside right it's 10 pages you know not a lot
00:18:33.400 in there in kuzma uh or nafta now quite frankly i'm sure it's front and center oh yeah you come to
00:18:39.560 the table well let's start talking about that natural gas and that yeah right number one on the
00:18:44.220 list yeah yeah yeah uh next on our list uh death by uh rank by speed of death metals steel and aluminum
00:18:53.200 this is where tariffs are a weapon you know what it shows up fast it it hits the downstream sectors
00:19:01.840 that steel supplies so much to uh almost instantly so if you were going to negotiate you know i would
00:19:09.700 say to you oh yeah i'm going to tariff your steel because the impact of that on so many other sectors
00:19:15.460 is instant oh yeah davos he uh he basically came out you know this is trump but he came out and said
00:19:21.420 they had 100 uh steel plants popping up in steel mills popping up all across the united states that
00:19:26.300 was in his speech so he's basically we're doing that but he's still struggling he can't replace our
00:19:31.360 aluminum so he's still struggling there and jim and i talked about it you know he he's really um
00:19:38.740 he can our exports he can he can tariff our exports um but if we're smart and we actually pivot
00:19:47.240 to a defense strategy that incorporates our steel and aluminum on a bigger way we can replace it for
00:19:54.180 the short term in order wait to get to other markets clever so right yeah carney appears to be
00:20:00.340 doing that um and talking about it more and more so let's hope there is a pivot point there and i think
00:20:07.340 as these strategies get laid out towards july i'm hoping that quite frankly that's like a food strategy
00:20:13.700 a steel and yeah yeah so like he's carney signed a bunch of deals to do this this and this to
00:20:19.760 utilize canadian steel and aluminum as part of the provision of the contracts for canada to spend the
00:20:25.860 money whether it's submarines or whatever they're doing apparently off the menu is our supply of iron
00:20:32.740 ore to the u.s so he's gonna have all these mills but he needs the iron ore he doesn't like to do
00:20:37.900 business with china south america is not exactly his best friend at the moment no yeah i would
00:20:44.140 imagine the best bet that they have right now is canada uh the next one in line is critical minerals
00:20:49.480 and advanced manufacturing supply chains uh not always headline right but more and more we focus on
00:20:55.760 it uh disruptions change investment decisions that's the number one thing we're processing and
00:21:01.200 manufacturing land so you know our ring of fire right yeah greenland and you know it's all being
00:21:08.440 all of a sudden it is all of a sudden people never heard of here like right this is kind of a big deal
00:21:13.700 isn't it paul yeah yeah the critical minerals it must be important well yeah they go into everything
00:21:18.300 that we use our cell phones our computers the screen everything yeah a little bit of my pet peeve because
00:21:24.960 we've talked about it in previous shows you know i know they're referring to all the time when
00:21:29.340 another company comes in to buy one of our mining companies the old canada act allows it you know
00:21:34.560 yesterday uh the energy minister was on uh you know about pipelines in china right which you know
00:21:43.080 and he he explained to us that uh uh uh what's uh oh big a gas company uh lng yeah lng but uh
00:21:53.580 oh oh suncor no the other one anyways but it basically was owned minority owned by uh the
00:22:03.900 chinese oh right entercare oh entercare oh yeah that's a huge one yeah so it was a minority owned
00:22:10.480 i think it's entercare if it's not i apologize but it was a minority owned by the chinese and that
00:22:15.940 was a deal that was struck a long time ago and allowed under the canada act the mining piece i think
00:22:21.040 we have to be very cautious now so i keep kind of commenting on shows i don't think we should be
00:22:25.840 allowing all these big transactions to go through right now i think we should just kind of halt try
00:22:30.780 to keep as much of our canadian resources in check right now like australia did i think we have to be
00:22:36.280 very cautious of you know who's coming in and who's buying out what because that's our trading card
00:22:41.740 going forward right if july goes bad right right and to that end sure let's build the infrastructure
00:22:47.780 for the roads and buildings and factories and mines northern quebec northern ontario they say
00:22:54.380 that the geologists they have pockets and huge amounts of critical minerals in these parts of
00:22:59.740 remote canada let's get to it and start mining it yeah yeah ideally that this departure might
00:23:07.240 boost that process and then that ties into all these other things on the list to actually get it done
00:23:13.480 well like paul says that we if we can do it we get to the market with it and there's no denying
00:23:18.520 that we have it then we've got we the the weight is on our side to in the negotiation which is not
00:23:25.380 something that we're used to in kuzma i don't think yeah australia you know as we talked about many times
00:23:29.940 in past shows that's the conundrum they were at you know their auto their auto industry they decided
00:23:35.320 not to subsidize the name yeah so they let it go off it went and so they sat down and they said okay
00:23:41.420 we're going to go after minerals we're going to have to go critical critical minerals regular
00:23:44.960 minerals uh resources and they did they traded off resources against manufacturing because it gave
00:23:51.020 them more weight in the deal yeah exactly and there's lots of you know there's uh lots of papers
00:23:55.880 right now on it people talk about it quite a bit how it did make the it made the economy more
00:24:01.120 resilient in the mid to long term that's interesting australia's kind of blown our minds i've noticed
00:24:07.300 you know they've got uh ways of financing now banking really strong military presence in the
00:24:13.880 pacific rim yeah yes and and they've always been cutting edge movie making television music they're
00:24:22.020 like we'll do our own thing if you want to buy it watch it fine but we have they have a healthy music
00:24:27.740 industry arts and culture a movie industry like you say the critical industry and the tourism
00:24:34.040 yeah and people there are willing to move to work and that's that's an interesting thing too there's
00:24:38.460 some pretty remote areas in australia where this the outback oh my god but there's a work ethic that's
00:24:45.000 built around thinking about that and how to live your life still there are australian and and still
00:24:50.240 you know provide as a family member still be part of society they've worked it out to keep as much
00:24:55.800 of it yeah it turns it's it's quite admirable and they cleaned up their government yeah so they had
00:25:00.640 some challenges they cleaned it up right right now they have good leadership yeah they had a country
00:25:06.480 that didn't have a huge amount of um i guess corruption really cleaned up what corruption they
00:25:12.500 had pretty quickly at the government at the federal end and yep um moved on fast well this will thrill
00:25:18.060 you paul because uh this might eliminate wooden forks our forestry products uh we try to have fun
00:25:29.560 uh the forestry products softwood lumber and value-added wood um this is already disputed
00:25:38.260 through kuzma i mean this doesn't i there's still fights going on consistently even though we have deals
00:25:42.580 in place but you know and this might be one more of those if it was released of we were released of
00:25:48.900 uh kuzma to negotiate our lumber and softwood uh opportunities maybe we'd be be doing better in
00:25:56.780 the marketplace i don't know i know it's such a big part of our economy and you know it's one of those
00:26:02.800 things there's a forestry industry in the maritimes yeah in bc and northern ontario and quebec like
00:26:08.840 there are pockets all across the country that rely on the forest industry yeah yeah right here in
00:26:13.700 ontario i've noticed uh there's been paper mills paper mills are uh are struggling and uh you know
00:26:19.380 a lot of that has to do with how much we are able to export and what we're able to do i think
00:26:24.080 environmentally as well so i think there's a rethink if this kuzma thing falls apart that we have to
00:26:29.520 rethink a few things how we handle our resources and selling them how we handle processing our own
00:26:35.920 resources perhaps and you know what we can get out there in exchange for some of the resources that
00:26:41.960 would go to the bottom line here in canada and i think hopefully carney's looking at it from that
00:26:46.680 perspective i don't know this one's a tough one this really is where do they transition to i don't know
00:26:52.480 you know that's uh no you're gonna hate the next one then construction and cross-border services tied
00:26:57.380 to goods trade so construction is downstream on every case right every item yeah um and it gets
00:27:04.820 squeezed the higher the material cost go the less margin there is in it for construction and we all
00:27:09.880 know that because there is a limit to what people will pay and what they view value in their
00:27:13.880 construction to to have no matter what the cost of materials are and a lot of it comes from the u.s
00:27:18.500 right so a lot of it comes in we ship some out but oh it's great we ship a lot of resources out
00:27:23.400 yeah they do the manufacturing and we buy it back so there's a double ding on that that really does
00:27:28.740 need to be taken care of the kuzma at the moment does for the most part take care of that downstream
00:27:33.280 taxation however left left to our own we might find that there's a new leveling that has to take
00:27:40.860 place so from your experience paul to what mike the further attack onto what mike said is it possible
00:27:46.060 to set up manufacturing in this country to make laminate flooring and the tiles and everything that
00:27:53.540 goes into the construction industry to so not just the raw materials but the raw materials here
00:27:59.540 and then making it and then getting into the homes all made and manufactured and processed in canada
00:28:05.060 can we do that and there's other markets quite frankly we can go into to get the certain things
00:28:09.780 that we already do but yeah but yeah the u.s is a big provider especially for supplies tools nuts bolts
00:28:16.760 all that stuff so it gets manufactured they're sent back here we'd have to figure out how to get plants
00:28:22.300 up and running and do all that so that would be a good thing to subsidize then for the government
00:28:27.440 to subsidize it seems like a factory to make those nuts and bolts and power tools for making things in
00:28:33.460 the country our own infrastructure for um manufacturing yeah well that's you know it's interesting now
00:28:38.920 there's there's groups there's kind of think tank groups uh a good friend of mine lars who's in the
00:28:44.000 construction business called me the other day he says do you want to sit in on them and you can
00:28:47.540 go and they talk about things that when if kuzma drops that'll be cut out that you can build here
00:28:53.960 or plants you can build so there's kind of these little things popping up that you can go to
00:28:58.360 especially on the construction side so they're already thinking about wow they're organizing
00:29:02.380 thinking about it yeah guys are thinking about it so they're trying to imagine in every one of these
00:29:05.840 cases somebody's out there going okay well what if yeah yeah of course whether you know whether
00:29:11.300 it's uh if you think about it we talk about grocery stores or construction there's all stuff that's
00:29:15.940 going to kind of go poof and disappear which will leave a void that people can fill yeah yeah and
00:29:20.980 maybe opportunities for entrepreneurs and businesses to take advantage of it yeah well as long as they
00:29:25.960 get startup capital that's that's the we on a other show that we did we actually talked about that
00:29:31.040 that's one of the challenges right now uh and we talked about it the other day you know the number
00:29:36.240 of ipos are down so much uh getting public uh funds to go into business is basically becoming
00:29:43.640 impossible in canada you have to go to private equity which is you know very costly yeah i see
00:29:50.280 a lot of ads for the business development bank in canada doesn't that a government bank to help
00:29:54.180 facilitate bbc is great they're awesome and they do they're very helpful and they'll get you kind of
00:29:59.260 your first seed money into a business um for small businesses they're great for mid-sized businesses
00:30:03.920 not so great okay yeah so they take you only so far but okay a lot of people use it and interesting
00:30:08.600 for small business i've just seen a lot of ads for it but maybe they're thinking ahead that
00:30:12.480 they want people to know that you can tap into this yeah government money to help set up your
00:30:17.280 new business well to build a country stronger especially in manufacturing and and these areas
00:30:22.180 that are a little risky for us frankly we're not in that game so much anymore and the cost of doing it
00:30:27.160 is going to be probably resisted to some degree it kind of behooves these banks and our government
00:30:35.820 government to lay out some infrastructure and some seed money to get these guys up and going or
00:30:41.200 we are going to be hostage to these kind of agreements forever well that's interesting because you know
00:30:46.460 we don't talk about it but financial institutions hmm a tdrbc so again if there's a fission right so if
00:30:54.000 we decide in july 1 right yeah how far does that go that's it's a good point you know because a lot of
00:31:00.880 our canadian banks invested heavily in the u.s market right yes so now all of a sudden there's no
00:31:05.660 tie anymore so you know the banking rules change you know cross movement of funds all that stuff
00:31:11.460 you know moving money back and forth is that going to become harder are people going to look to do it
00:31:16.440 markets you know stocks all that stuff it is a it is an interesting question to financial institutions
00:31:23.400 and investing that's an amazing point no matter what happens here yes someone's going to take a hit
00:31:29.000 our banks are heavily invested south of the border yeah well sure and and all these industries you look
00:31:35.520 at it all these industries that are going to get impacted by this that may fail or may struggle
00:31:39.880 are all you know have loans mortgages all have outstanding balances credit lines they're all things
00:31:45.820 that affect them you know we're going through it right now unfortunately not a good time for us or
00:31:52.880 in the states in a lot of places too our residential i don't know if you saw yesterday
00:31:57.680 that the gta home value yes under the first time dropped under a million in like a decade yeah it's
00:32:04.440 been a long time since we saw the average price of a home and you know the gta drop to that extent so
00:32:10.400 it's 20 down from year on year so that's a big that's a big drop in the condo market so we're
00:32:16.880 we're already seeing a lot of those things impacting our banks no no no we're not in a recession
00:32:21.620 though don't worry about it you know gentlemen i will say this had it not been for the the
00:32:27.520 wackadoodle mindset of donald trump and the the concern of this discussion quite frankly most
00:32:33.600 canadians would see a little news item about accusment negotiations and go oh whatever but now that
00:32:39.900 there is actual potential to hit all these sectors of the economy so we're seeing yeah more canadians
00:32:46.540 pay attention do their research oh yeah watch shows like this and think about oh we better plan
00:32:51.940 for what's next because like you said in the first show for decades everything just moved along slowly
00:32:57.540 you didn't have to think about it yeah yeah well you think about someone in the retail business that's
00:33:01.800 shipping something to the u.s someone who's manufacturing something and shipping to the u.s someone who's
00:33:06.580 growing something and shipping into the like all those people are impacted by this you know and they
00:33:12.020 don't know until july 1. right yeah now hopefully as we see the prime minister as he's layering on
00:33:18.140 you know hopefully auto is the first yeah uh but then there's more layers right he keeps layering and
00:33:23.220 layering so at least you know insulates us a little bit from what could come and trying to hit every
00:33:29.540 item on your list and realizing like oh we got it okay and for this and then for this and trying to do
00:33:35.340 something to help as you say protect them and let and insulate them yeah it was really funny to watch
00:33:40.360 uh um our prime minister don a blue tie basically and cancel evie this week
00:33:45.680 the conservative liberal prime minister very interesting pierre pelia did comment on it we
00:33:52.280 actually did it on the previous show saying that he was right yeah of course yeah he was wow he was
00:33:58.580 right and they followed the policies that they had yeah well done pierre you're such you're such a good
00:34:04.520 leader uh well this has been uh interesting i recommend that people go back and and listen to
00:34:10.540 the uh if you haven't listened to the other two uh kuzma episodes it's worthwhile because it does put
00:34:15.640 into focus how important this is for canadians oh yeah and now you know what gets hit first and how
00:34:21.240 hard like and subscribe thanks mike thank you guys thanks