Western Standard - August 12, 2025


Carney’s Debt Disaster vs Alberta’s Boom ｜ The Cory Morgan Show

Topics
Kearney's fiscal irresponsibility
Mentioned
Justin Trudeau Doug Ford Smith Strap
Mark Carney’s “Recognition” of Palestine — Real Policy or Political Posturing？ Nova Scotia’s Forest Fire Rules： Hiking Banned, First Nations Exempt

Episode Stats


Length

4 minutes

Words per minute

196.83

Word count

885

Sentence count

64

Harmful content

Hate speech

6

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

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

Transcript generated with Whisper (turbo).
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
Topics generated with Qwen2.5-3B-Instruct.
Hosts, guests, and mentioned names generated with spaCy (en_core_web_sm), reconciled against Wikidata.
00:00:00.000 Kearney's answer to everything is just tossing more money at it. And guys, this doesn't bode
00:00:04.740 well for us. I mean, Alberta's doing well, despite Canada, not because of it. And so Saskatchewan's
00:00:10.400 doing pretty good too. Alberta's surpassing the rest of the country in most economic measures.
00:00:15.120 Even though oil prices have been tumultuous, Alberta's economy is going strong. Unemployment
00:00:19.420 is below the national average. Our provincial government posted a surplus of over $8 billion.
00:00:24.220 And new housing units even created will reach a record high of nearly 60,000 this year.
00:00:28.440 Having a low tax rate in a welcoming business environment has diversified the local economy
00:00:32.980 and it's paying off. By comparison, Canada's economic outlook is a basket case. Under Kearney's
00:00:38.900 brilliant guidance, the deficit went from $62 billion from when he was elected to a staggering
00:00:43.200 $92 billion and growing. Kearney's spending spree is making his predecessor, Justin Trudeau,
00:00:48.780 look like a cheapskate. We're just paying the interest on the current national debt costs as
00:00:52.880 much as the government brings in every year on the GST. That's as much as the federal government
00:00:56.780 sends out an annual healthcare transfers to the provinces. It gets worse though. Kearney's
00:01:02.500 fiscal irresponsibility is sure to lead to a credit downgrade for the federal government soon.
00:01:07.180 And that means interest rates will rise on the federal debt as the balance grows by nearly
00:01:11.100 $100 billion a year. Look, Canada's swirling into a debt catastrophe and Kearney's showing no
00:01:16.200 indication of trying to stop it. Kearney was sold to Canadians in the last election to some sort of
00:01:20.460 economic and diplomatic wizard. Well, so far as economic and ineptitude is only being overshadowed
00:01:26.720 by his utter failure to get a deal with Canada's largest trading partner done. And now rising tariffs
00:01:32.020 are devastating some Canadian industries. The elbows up approach has been a total failure.
00:01:37.360 Not to be outdone by the federal government, though, Doug Ford's bumbling management of Ontario
00:01:41.100 has put the province into have not status and they rely on equalization payments to pay their bills.
00:01:46.860 Ford jumped into bed with Justin Trudeau on subsidy sinkholes such as battery plants that never began
00:01:52.100 construction and edible cricket factories that went broke. The unemployment rate in Ontario is nearly
00:01:57.460 8% while the cost of living continues to rise. Despite having three times Alberta's population,
00:02:03.040 Ontario only managed to build the same number of housing units in one year.
00:02:06.920 Too much government has made increasing housing at a sustainable rate impossible. Mass immigration, 1.00
00:02:12.500 though, continues to pressure the country while billions are spent to house refugees and hotels. 0.98
00:02:17.320 The influx has contributed to a near collapse of health care systems in every province. 0.99
00:02:21.300 And despite constant spending increases, it's just not getting better. And of course,
00:02:24.720 then there's the Maritimes. They remain in perpetual state of dependency while unemployment in
00:02:28.740 Newfoundland sits at 10% with no relief on the horizon. Canada prefers to subsidize people to stay
00:02:33.880 in the regions without resources rather than move the people to the regions that need the labour.
00:02:37.500 Then they bring in more mass immigration to fill the labour needs in other areas. It's a recipe 0.50
00:02:41.780 for national population imbalance. And of course, let's look at Quebec.
00:02:45.060 Quebec's in it for Quebec. They control the national agenda and keeping terrible policies with
00:02:50.340 everything from supply management to imposed bilingualism upon the West. And they'll happily 0.96
00:02:54.960 hinder Western economic development while sucking in billions in equalization payments and other
00:02:59.540 bribes. Manitoba and BC, they both elected socialist governments which are opposing pipeline development
00:03:04.660 and stunting their own economies. BC is likely going to join the majority of Canada as a have-not
00:03:09.720 province begin collecting welfare through equalization soon too.
00:03:13.680 That just leaves Alberta and Saskatchewan to pay the nation's bills, guys.
00:03:17.380 Rest assured, being the national sugar daddies won't earn the prairie province's gratitude and respect.
00:03:22.040 Alberta and Saskatchewan will get nothing but contempt and ire from the Canadian power brokers.
00:03:25.860 Rather than emulate Alberta's success, they'll strive to tear the provinces down,
00:03:29.600 prairie provinces, to their economic level and social failure.
00:03:32.940 Canada's Laurentian a leader driven by ideology and entitlement. They'd rather sink the nation
00:03:38.020 than admit their ideology is one of failure.
00:03:41.060 Alberta and Saskatchewan's success has painted a target on their backs. The Liberals have nothing
00:03:44.760 to lose in enraging prairie voters, and they see the accumulating wealth of the West as a plum to
00:03:49.640 be harvested for the East, rather than an asset earned by Westerners which must be kept by Westerners.
00:03:54.940 Premiers Mo and Smith both recognize this threat. That's why legislation like the Sovereignty Act was
00:03:58.800 created. And while the provincial governments aren't overtly supporting independence,
00:04:01.880 they aren't hindering independence movements from growing and pursuing a referendum either.
00:04:05.560 The West has to prepare for another economic assault from the East in Canada. It's going to happen. 0.90
00:04:09.740 It'll be the last gasp from a central government going broke.
00:04:12.620 Alberta and Saskatchewan can't save Canada. We can save ourselves, though,
00:04:16.420 through pursuing independence, rather than letting misguided Federalists pull us
00:04:19.360 into economic insolvency with the rest of the nation.
00:04:22.940 So watch it, guys. Strap in. It's coming. They're going broke.
00:04:26.680 And we're sitting with a full wallet. You know they can't leave it that way for much longer.