Carney’s Debt Disaster vs Alberta’s Boom ｜ The Cory Morgan Show
Episode Stats
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Summary
In this episode, I discuss the economic woes facing Canada and how the federal government is to blame for it. Canada's economic outlook is a basket case, and it's only getting worse. We need to be prepared for another economic downturn.
Transcript
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Kearney's answer to everything is just tossing more money at it. And guys, this doesn't bode
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well for us. I mean, Alberta's doing well, despite Canada, not because of it. And so Saskatchewan's
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doing pretty good too. Alberta's surpassing the rest of the country in most economic measures.
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Even though oil prices have been tumultuous, Alberta's economy is going strong. Unemployment
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is below the national average. Our provincial government posted a surplus of over $8 billion.
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And new housing units even created will reach a record high of nearly 60,000 this year.
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Having a low tax rate in a welcoming business environment has diversified the local economy
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and it's paying off. By comparison, Canada's economic outlook is a basket case. Under Kearney's
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brilliant guidance, the deficit went from $62 billion from when he was elected to a staggering
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$92 billion and growing. Kearney's spending spree is making his predecessor, Justin Trudeau,
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look like a cheapskate. We're just paying the interest on the current national debt costs as
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much as the government brings in every year on the GST. That's as much as the federal government
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sends out an annual healthcare transfers to the provinces. It gets worse though. Kearney's
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fiscal irresponsibility is sure to lead to a credit downgrade for the federal government soon.
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And that means interest rates will rise on the federal debt as the balance grows by nearly
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$100 billion a year. Look, Canada's swirling into a debt catastrophe and Kearney's showing no
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indication of trying to stop it. Kearney was sold to Canadians in the last election to some sort of
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economic and diplomatic wizard. Well, so far as economic and ineptitude is only being overshadowed
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by his utter failure to get a deal with Canada's largest trading partner done. And now rising tariffs
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are devastating some Canadian industries. The elbows up approach has been a total failure.
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Not to be outdone by the federal government, though, Doug Ford's bumbling management of Ontario
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has put the province into have not status and they rely on equalization payments to pay their bills.
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Ford jumped into bed with Justin Trudeau on subsidy sinkholes such as battery plants that never began
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construction and edible cricket factories that went broke. The unemployment rate in Ontario is nearly
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8% while the cost of living continues to rise. Despite having three times Alberta's population,
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Ontario only managed to build the same number of housing units in one year.
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Too much government has made increasing housing at a sustainable rate impossible. Mass immigration,
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though, continues to pressure the country while billions are spent to house refugees and hotels.
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The influx has contributed to a near collapse of health care systems in every province.
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And despite constant spending increases, it's just not getting better. And of course,
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then there's the Maritimes. They remain in perpetual state of dependency while unemployment in
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Newfoundland sits at 10% with no relief on the horizon. Canada prefers to subsidize people to stay
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in the regions without resources rather than move the people to the regions that need the labour.
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Then they bring in more mass immigration to fill the labour needs in other areas. It's a recipe
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for national population imbalance. And of course, let's look at Quebec.
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Quebec's in it for Quebec. They control the national agenda and keeping terrible policies with
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everything from supply management to imposed bilingualism upon the West. And they'll happily
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hinder Western economic development while sucking in billions in equalization payments and other
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bribes. Manitoba and BC, they both elected socialist governments which are opposing pipeline development
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and stunting their own economies. BC is likely going to join the majority of Canada as a have-not
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province begin collecting welfare through equalization soon too.
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That just leaves Alberta and Saskatchewan to pay the nation's bills, guys.
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Rest assured, being the national sugar daddies won't earn the prairie province's gratitude and respect.
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Alberta and Saskatchewan will get nothing but contempt and ire from the Canadian power brokers.
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Rather than emulate Alberta's success, they'll strive to tear the provinces down,
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prairie provinces, to their economic level and social failure.
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Canada's Laurentian a leader driven by ideology and entitlement. They'd rather sink the nation
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Alberta and Saskatchewan's success has painted a target on their backs. The Liberals have nothing
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to lose in enraging prairie voters, and they see the accumulating wealth of the West as a plum to
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be harvested for the East, rather than an asset earned by Westerners which must be kept by Westerners.
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Premiers Mo and Smith both recognize this threat. That's why legislation like the Sovereignty Act was
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created. And while the provincial governments aren't overtly supporting independence,
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they aren't hindering independence movements from growing and pursuing a referendum either.
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The West has to prepare for another economic assault from the East in Canada. It's going to happen.
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It'll be the last gasp from a central government going broke.
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Alberta and Saskatchewan can't save Canada. We can save ourselves, though,
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through pursuing independence, rather than letting misguided Federalists pull us
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into economic insolvency with the rest of the nation.
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So watch it, guys. Strap in. It's coming. They're going broke.
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And we're sitting with a full wallet. You know they can't leave it that way for much longer.