Western Standard - March 07, 2024


Economic catastrophe by Trudeau’s weak government


Episode Stats


Length

4 minutes

Words per minute

206.8683

Word count

1,010

Sentence count

72

Harmful content

Misogyny

2

sentences flagged

Hate speech

5

sentences flagged


Summary

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

The economic canary in the coal mine in Canada has been dead for years. The warnings were clear. Canada was on a path to economic catastrophe. But the Trudeau government ignored the warning signs and charged ahead with their agenda of mass spending and mass immigration.

Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
00:00:00.400 2021, Prime Minister Trudeau infamously said,
00:00:03.140 you'll forgive me if I don't think about monetary policy.
00:00:06.240 Unfortunately, Trudeau in that case was actually being absolutely honest.
00:00:09.460 He doesn't think about monetary policies,
00:00:11.100 and the cost for his willful ignorance is going to be borne for generations.
00:00:16.060 And no, we shouldn't bloody well forgive him.
00:00:18.200 We should be trying to find a way to get that incompetent,
00:00:20.360 unprincipled boob out of office as soon as possible. 0.93
00:00:23.360 The economic canary in the coal mine in Canada has been dead for years.
00:00:27.360 The warnings were clear.
00:00:28.560 Canada was on a path to economic catastrophe,
00:00:31.260 but the Trudeau government ignored the signs
00:00:32.960 and charged ahead with their agenda of mass spending coupled with mass immigration.
00:00:38.140 I mean, this is a government on the ropes.
00:00:40.020 Their popularity levels are rivaling the end of the Mulroney government
00:00:43.800 when they ended up getting wiped out down to two seats under Kim Campbell. 1.00
00:00:47.520 And instead of reevaluating what they're doing,
00:00:49.280 they're doubling down with what they've already been doing,
00:00:51.820 and it's making it worse.
00:00:53.540 So, I mean, as the government continued with its policy of borrowing money
00:00:57.060 and pouring it into the economy, guess what?
00:00:58.560 Inflation followed.
00:00:59.840 That's economics 101.
00:01:00.980 But remember, Trudeau doesn't think about monetary policy.
00:01:04.040 So, action, reaction to try and counter the inflation problems.
00:01:07.860 The Bank of Canada has been cranking up interest rates.
00:01:10.800 And yeah, that does slow inflation, but that's because it slows the entire economy.
00:01:14.540 As businesses defer capital investment and housing starts slow down.
00:01:17.540 I mean, to counter the economic slowdown and the risk of recession that comes with that,
00:01:22.980 the government then has opened the floodgates to mass immigration.
00:01:26.660 Sure, new immigrants bring skills and resources that do, in the short term, spur the economy.
00:01:31.500 But they also consume resources.
00:01:33.000 The influx of new Canadians has led to a housing crisis.
00:01:36.720 Of course, with the interest rates rising and housing prices going through the roof,
00:01:40.840 mortgage delinquency rates are soaring.
00:01:43.040 In Ontario alone, they've shot up 135%.
00:01:46.120 These are people about to lose the homes they put their lifetime of savings and investment into.
00:01:50.840 Younger people, they can't even consider buying a home with current prices. 1.00
00:01:53.760 They're forced to rent.
00:01:55.000 And that's not a solution.
00:01:56.000 Rents have been rising as fast as the home prices.
00:01:58.640 People are being forced to bunk up or move back in with their parents.
00:02:02.000 Between the skyrocketing cost of living and the addiction epidemic,
00:02:04.820 homelessness is chronic now and it's growing.
00:02:07.260 In every province in the country as well, the healthcare systems are overwhelmed.
00:02:10.980 Waiting times for hospitals and procedures are reaching new highs with every month.
00:02:15.060 Schools, no different.
00:02:16.040 They're under pressure as immigrants pour into the system faster than the system can expand 1.00
00:02:19.640 and to accommodate them.
00:02:21.400 And let's look at the business world.
00:02:22.880 In January of this year, just a couple of months ago,
00:02:24.980 business insolvencies in Canada went up 129% over the January period of 2023.
00:02:32.380 The taxes, regulations, interest rates, and anti-business climate in Canada is crushing our enterprises.
00:02:38.280 Canada is becoming an investment pariah.
00:02:39.860 While the Prime Minister might have no idea what he's going to do,
00:02:43.120 you know, and what he is doing to the economy, business leaders do.
00:02:46.440 They won't put funding into the economic basket case of Canada.
00:02:49.640 It's a global market and we're being left behind.
00:02:51.440 It's not just bad monetary policies that are keeping investment out of Canada.
00:02:54.700 It's the environment and attacks on businesses themselves.
00:02:58.280 I mean, grocers and oil companies, executives,
00:03:00.620 they've been dragged before parliamentary committees
00:03:02.660 where they've been questioned on their business decisions.
00:03:05.160 It's kind of Soviet-like and feel, 0.88
00:03:06.760 but that's not surprising considering Trudeau partnered with a socialist to try and remain in power.
00:03:11.520 How could any business leader want to come to Canada and set up shop in that sort of environment?
00:03:15.440 Having the government constantly attacking and shutting down proposed resource development certainly isn't helping either.
00:03:20.440 It doesn't matter if the nation sits on massive natural resource reserves if the government won't allow it to be developed.
00:03:25.960 The most frightening indicator, though, of just how far up the economic creek Canada has gone is the GDP per capita ratio.
00:03:32.320 To put it in lay terms, add up all of the economic output in Canada and divide it by the population.
00:03:38.160 That's the ratio, and that ratio has dropped steadily for the last six quarters.
00:03:42.320 You know, the banks are calling it out, economists are calling it out.
00:03:44.340 The only ones who seem unconcerned about it are the morons in government under Justin Trudeau.
00:03:48.660 Let's look at the comparison.
00:03:49.820 The GDP per capita in the USA is about $70,000 American dollars.
00:03:53.960 In Canada, it's $52,000 American dollars and falling.
00:03:57.620 The entire nation is becoming poorer and quickly.
00:04:00.800 Trudeau has been on a mass hiring binge of civil servants, but that only helps the unemployment figures.
00:04:05.000 Civil servants don't contribute to the economy.
00:04:06.700 They drain from it.
00:04:08.160 I mean, Canada has faced depressions and recessions before.
00:04:10.440 Hard times have come and gone, but what's happening right now is different.
00:04:13.400 Canada's economy is being dismantled and destroyed by the most incompetent and ideologically driven government we have ever seen.
00:04:18.780 The only question we have now is how long are we going to let this go before somehow finding a way to pressure that administration out of power?
00:04:25.560 I mean, in other countries, people will be out in the streets by now, but in Canada, we seem to be still stuck on watching reality TV.
00:04:31.360 Trudeau might not like to think about economic policies, but I guess he's not alone.
00:04:34.860 Canadian citizens don't like watching it either, but it's going to catch up with you.
00:04:38.280 So guys, all I can say is it's going bad.
00:04:41.900 It's going bad fast.
00:04:43.020 Start paying attention.
00:04:44.280 Let's get that boob out of office sooner rather than later because it's going to take generations to clean up the mess he is creating. 1.00
00:04:50.940 And some of it's our own fault.
00:04:52.280 We've got to change it.