Economic catastrophe by Trudeau’s weak government
Episode Stats
Words per Minute
206.8683
Summary
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
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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.
00:00:11.100
and the cost for his willful ignorance is going to be borne for generations.
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.
00:00:23.360
The economic canary in the coal mine in Canada has been dead for years.
00:00:32.960
and charged ahead with their agenda of mass spending coupled with mass immigration.
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.
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,
00:00:53.540
So, I mean, as the government continued with its policy of borrowing money
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.
00:01:33.000
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,
00:01:46.120
These are people about to lose the homes they put their lifetime of savings and investment into.
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Younger people, they can't even consider buying a home with current prices.
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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.
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Between the skyrocketing cost of living and the addiction epidemic,
00:02:07.260
In every province in the country as well, the healthcare systems are overwhelmed.
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Waiting times for hospitals and procedures are reaching new highs with every month.
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They're under pressure as immigrants pour into the system faster than the system can expand
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In January of this year, just a couple of months ago,
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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.
00:02:39.860
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.
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It's a global market and we're being left behind.
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It's not just bad monetary policies that are keeping investment out of Canada.
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It's the environment and attacks on businesses themselves.
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they've been dragged before parliamentary committees
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where they've been questioned on their business decisions.
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but that's not surprising considering Trudeau partnered with a socialist to try and remain in power.
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How could any business leader want to come to Canada and set up shop in that sort of environment?
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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.
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The only ones who seem unconcerned about it are the morons in government under Justin Trudeau.
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The GDP per capita in the USA is about $70,000 American dollars.
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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.
00:04:08.160
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.
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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.
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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.