Has Canada Learned From Its Lost Decade? - WSJ - "‘Why don’t I become a circus clown?” That was Mark Carney’s sensible reply when asked in 2012 about ambitions to enter Canadian politics. On Sunday he was elected leader of Canada’s Liberal Party, soon to be sworn in as Prime Minister. Welcome to the circus. Mr. Carney, a central banker who became a global face of “net-zero” and “ESG” environmental schemes, won 86% of the Liberal leadership vote. His big advantage: He was off in England, or globe-trotting as a United Nations climate envoy, or working for large U.S. firms rather than serving as a minister in Justin Trudeau’s Liberal government (2015-25). “Trudeauism,” the Canadian policy intellectual Sean Speer writes, “came to be marked by massive deficit spending, large-scale industrial policy, an unprecedented use of the federal spending power, a major increase in immigration in general and temporary migration in particular, and a significant expansion of the federal government itself.” It didn’t work. Government spending nearly doubled, but business investment fell by a third and productivity plunged. Canada is now 30% less productive than America, and Canadian GDP per capita is no higher than it was in late 2014. This has been Canada’s lost decade. The Trudeau carbon tax flopped, and even Mr. Carney now pledges to junk its consumer end. He’d replace it with a more complex scheme as well as a “carbon border adjustment mechanism”—a tariff or quota that is bound to elicit U.S. retaliation. Liberal governance has left Canada in poor shape to face Donald Trump’s tariff onslaught. But irony of ironies, those U.S. tariffs have become the Liberals’ great hope, spurring a recovery of 10 or 15 points in election polls... The Liberals still trail in most polls, but they are in striking distance of Pierre Poilievre’s Conservatives. Mr. Poilievre is pro-American, strong on defense and much better suited to deal with Mr. Trump. That’s an urgent need for Canada, but voters antagonized by Trump tariffs may prefer the hockey fight. Mr. Carney has no experience in electoral politics, but he is recalled fondly for guiding the Bank of Canada through the 2008-09 recession. Further from Canadians’ minds is Mr. Carney’s time atop the Bank of England (2013-20), when he presided over historically low interest rates that sent property prices soaring. As one of the founders in 2021 of the trendy Net-Zero Banking Alliance, lately deserted by U.S. banks, Mr. Carney explained, “The companies, and those who invest and lend in them, who are part of the solution, will be rewarded. Those that are lagging behind, and are still part of the problem, will be punished.” He meant punished by government, or by investors operating under state-imposed mandates. Which is to say that Mr. Carney doesn’t offer Canada a break from Trudeauism. No wonder he’d rather talk Trump and hockey."
Tristin Hopper on X - "Mark Carney has got to be the only person in the Anglosphere who saw the Kamala Harris campaign and thought "hey, I should quit my lucrative day job and try *that.*""
CHCH News on X - "An inauspicious start for PM-designate @MarkJCarney in #hamont. No questions taken from reporters and his handlers told the camera operator pooling the event to shut off sound when he was inside talking to workers."
David Jacobs on X - "Parliament is shut down. The incoming prime minister has NEVER been elected. Now the press are barred from asking Carney questions. This is not good."
Carney kills consumer carbon tax in first move as new prime minister : r/canada - "To be fair, there is still going to be an industrial carbon tax, which ultimately will be paid by the consumer so it's not exactly a lie."
"That's too many steps for the average redditor/Canadian to comprehend though."
"Carney fully believes in a version of the carbon tax I don’t think that’s at all debateable, he’s dedicated a decent portion of his life to those policies. The consumer portion was political suicide, it’s not surprising he’s killed it as an initial win and to get the stink of it off him."
"It's all a consumer portion tho, the consumer ends up paying it even if it's at an industrial scale"
Juno News on X - "PM Carney claims that having an industrial carbon tax is necessary for Canada to expand trade into European Union, the United Kingdom and emerging Asian markets."
Jason Kenney 🇨🇦🇺🇦🇮🇱 on X - "This👇is completely untrue. The Harper government signed free trade agreements with 39 countries, partly through the Canada-Europe Trade Agreement, and the Trans Pacific Partnership, covering almost all European & Asian economies. Canada did so *without* a carbon tax. Carbon taxes were never an issue in the negotiations. Carbon taxes are *not* an issue in the stalled Canada-UK free trade negotiations. None of the fastest growing emerging economies have carbon taxes (eg India, Korea, China.) None of the other major global producers of energy have a carbon tax (eg Saudi, Russia, USA, Gulf States.) And several European governments are starting to reverse course on green policies that have led to de-industrialization. Mark Carney is a smart guy. So who does he think he’s fooling by arguing that diversifying export markets requires imposing hugely uncompetitive carbon taxes on trade exposed sectors of our economy?"
Naturally, I saw left wingers repeat this misinformation on why a carbon tax was necessary
David Jacobs on X - "This is misdirection by Carney. The cancelled carbon tax was set at $80 per tonne CO2. Carney's proposed shadow carbon tax will mirror the European Union tax which is set at $156 per tonne CO2. He isn't getting rid of the carbon tax, he's doubling it."
Left wing logic: because it's imposed on companies, individuals won't pay it, and if companies pass it on they are greedy
Pierre Poilievre on X - "Prime Minister Carney said yesterday Canada cannot trade with the world unless we have a carbon tax. Yet he moved his company headquarters to New York and invested in U.S. coal, where there is no carbon tax. He wants Canadians to pay carbon taxes that he dodges paying himself. If Carney wins, Canada loses:"
Meme - Jonathan Kay @jonkay: "Is this satire? "Got it done" = rescinded the party's own policy, which was supposed to save the planet"
Liberal Party @liberal _party: "Mark Carney got it done."
"MARK CARNEY CANCELLED THE CARBON TAX"
Carney kills consumer carbon tax in first move as new prime minister : r/canada - "The guy goes on TV saying 'who buys steel? We are going to tax them (steel producers)... then fast forward a few weeks and he's off to a steel plant and saying he 'stands with them'."
"Most won't remember or even of heard about the first story so the second will stick."
Pascal Anglehart 🇨🇦 on X - "OK. A lot of people complained that I only posted a 3-second video without context. Here is the full context: King Carney is ordering his vassals to cheer for his arrival. The brave ironworkers didn’t comply and wanted nothing to do with the UK banker. That is the context."
Terry Newman on X - "Mark Carney has lived how many years in Canada in total? *If* Grok is right, only 33 of his 60 years of life have been spent here. That has to be new for a PM of Canada."
Kirk Lubimov on X - "Canada's week recap:
* Bank of Canada cut rates by 0.25%.
* inflation went up to 2.6%.
* China executes Canadians.
* China puts 100% tariffs on canola.
* record amount of refugees/asylum seekers living in Canada - 457k.
* for giving Canada a lost decade, Justin Trudeau is leaving with an $8.4M pension.
* Mark Carney added a mass immigration proponent as an advisor.
* Tesla was removed from auto show in Vancouver because they are more upsetting than the record of deaths from overdoses there.
* 9.8% drop in home sales last month.
* 106k people left Canada last year. It's the highest amount since 1967.
* Canada went from 5th place in the World Happiness Report in 2015 to 18th last year.
* Mark Carney announces a $6B arctic radar system picking an Australian company rather than a Canadian (D-TA Systems).
* $187M for Jasper rebuilding.
* $100M for Gazans.
* small business optimism is at a 25 year low.
Team Canada still hasn't attracted a single penny into Canada."
Martyupnorth®- Unacceptable Fact Checker on X - "Are you kidding me. Just a few days ago, the Liberal party disqualified currently sitting Napean MP, Chandra Arya, from running in the next federal election. Today Mark Carney announced that is where he will seek a seat."
Disqualifying a brown immigrant is such a great look for the anti-racist left
🅾️ Kat Kanada on X - "REPORTER: Why did you choose to run in Nepean. What was involved in disqualifying Chandra Arya?
CARNEY: Um, um, uh. I'm an Ottawa resident. Uh. My best man is from there. Uh, Nepean is diverse and um, it represents uh Canada.
Yeah, yeah. That's it. 🤡"
Marc Nixon on X - "MIKE MYERS GETS EMOTIONAL ABOUT BEING AMERICAN 🇺🇸 Nearly in tears, he says becoming 🇺🇸 means everything to him Meanwhile, Carney’s team hires him for their cringe-fest fake hockey rink stunt without checking Myers background about being a proud🇺🇸 🤯"
Pascal Anglehart 🇨🇦 on X - "You thought Trudeau was bad? Meet Carney's wife. She is an ultra-mondialist woke activist. Only an ultra-mondialist woke activist could have married her. You have been warned."
Meme - The Pleb 🌍 Reporter @truckdriverpleb: "Steel workers REFUSE to stand behind Mark Carney during his press conference So he got his Liberal MP's to dress-up as steelworkers instead What a loser"
Carney kills consumer carbon tax in first move as new prime minister : r/canada - "Carney has been PM for 1 day and you already hate him. I wish conservatives could go back to being normal and stop treating politics like team sports."
"What? Carney didn't just suddenly appear out of thin air today. PP has been PM for 0 days and plenty of people hate him."
"PP has given plenty of reason to hate him over his 20 year political career, most people had never heard of Carney prior to a few months ago but some of them have already decided he's bad because conservative attack ads said so. Give the man a chance to prove himself and try to take a step back and see the bigger picture of what's really at stake with this next election."
"Hold on, let me get this right. You don't think it's ok to hate Carney because no one every heard of him before a few months ago? So if the Conservatives ran me no matter what my policies were it wouldn't be ok to hate me?"
Conservative Party on X - "WATCH: CARNEY IN THE COAL MINE A dive into the greedy, aggressive tactics of Mark Carney’s company, and how it made money by denying care to hardworking people. If this is how Mark Carney’s company treats sick workers, how is he going to treat Canadians?"
Canada is about to discover Mark Carney is the man with the reverse Midas touch - "it takes only a cursory glance at his record to work out that Carney’s reputation is completely overblown. In reality, he has been over-promoted all over again. If politics was simply a matter of CVs, then Carney would be Roosevelt, Churchill and De Gaulle rolled into one. He is perhaps one of the most qualified men ever to take charge of one of the West’s major democracies. A Goldman Sachs banker by training, he served as Governor of the Bank of Canada, before being persuaded by George Osborne to become the first foreigner to run the Bank of England. Since then, he has distinguished himself as the leader of the Net Zero Banking Alliance, as a UN Climate Change Envoy, as chairman of the asset manager Brookfield, and of the financial news giant Bloomberg. He was, according to Osborne when he appointed him, “the outstanding central banker of his generation”. But the truth is rather less glamorous. Over eight years at the Bank of England, Carney was at best an indifferent Governor, and, at worse, a disappointing failure. Despite his huge salary of more than £600,000 a year, more than any of his predecessors had been paid, he seemed to have little feel for the role. The City quickly nick-named him “the unreliable boyfriend” for his constant changes of direction on interest rates. He printed too much money in the wake of the financial crisis, and then repeated the mistake all over again in the wake of the referendum on leaving the EU, responding as if he was in the middle of a financial emergency instead of dealing with a minor blip in trading relations. At the same time, regulatory standards were allowed to slide, and the City started to lose its role as one of the major global financial centres, with over-complex rules deterring companies from listing their shares in London. By the time he left office, Carney had created a mess which his successors have struggled to clear up. Inflation spiked up to a peak of 11.1 per cent in the UK, compared to 5.2 per cent in France, or 8 per cent in Italy, hardly a country known for controlling prices effectively, largely because the Bank had printed too much money. As the LDI crisis in 2022 made clear, the Bank has lost its once formidable grasp of the inner workings of the City, and allowed pension funds to build up far too many high-risk assets, triggering a potential collapse of the gilts market that the Bank had to bail out. It had become far more interested in the climate emergency, and in pronouns for staff, than the old-fashioned businesses of keeping an eye on the amount of risk building up in the system. The years Carney spent running the Bank were characterised by stagnant growth, stalled living standards, and declining productivity, and while there are many explanations for that, the “rock star Governor” clearly did nothing to improve the performance of the British economy. Even worse, he politicised the role, taking sides on the Brexit debate as one of the main authors of the ludicrously over-blown “Project Fear” when it would have been far better to remain neutral, and then using his authority to endorse Rachel Reeves as Chancellor in a high-profile intervention just before the last general election, praising her energy and vision (a decision he surely regrets, since even many Labour MP’s now concede privately that Reeves has proved hopelessly out of her depth). Time and again, Carney has proved himself a man of high intelligence, but remarkably poor judgement. It has not gone much better since he left the Bank. Over the last year, his Climate Alliance has started falling apart. Created in the wake of the COP26 conference in Glasgow, it was designed to mobilise the power of private capital to pour hundreds of billions of dollars into accelerating the shift from fossil fuels to renewable energy. Yet in January this year, the Financial Times described the Alliance as “unravelling” as a series of major banks including JP Morgan Chase, Goldman Sachs and Citibank pulled out. Carney is the epitome of a remote, globalised, technocratic elite. He is very good at self-promotion, at collecting trophy jobs, and of course negotiating fabulously generous salaries and expenses for himself along the way. He is just not very good at delivering. Canada is facing a perilous moment in its history. For reasons best known to himself, President Trump has turned on his northern neighbour, imposing steep tariffs on the country that threaten to wreck its economy. Much like the UK, record levels of immigration mean that GDP per capita has now been falling for six consecutive quarters. Its economic and social model will have to adapt if it is to survive a bitter row with the United States. It will take vision, courage and determination to overcome those challenges, and to steer a new course for the country. Instead, Canada is going to get a self-regarding technocrat who may have plenty of connections but has left behind a trail of wreckage in every major job he has ever held. Carney may get a short term boost in the polls as he takes office, and may even win the general election later this year. Sure, PM will look good at the CV. But Canada will pay a high price for feeding his ego."
Left wingers venerate "expertise", credentials and qualifications over achievements, so it's no surprise he won
Clearly the mess the UK is in is due to Brexit, which he warned about, so that proves his brilliant
Pierre Poilievre on X - "Mark Wiseman, co-founder of the Century Initiative, is also an advisor to Mark Carney. The Century Initiative is a radical group that wants to increase Canada's population to 100 million by 2100. I will stop it. A Conservative government will fix our immigration system and oppose the radical project of the Century Initiative."
This won't stop left wingers from continuing to assert, without evidence, that PP won't reduce immigration
LILLEY: Carney puts together new team of Trudeau has-beens - "Mark Carney is showing that he is the agent of change by appointing two former Trudeau cabinet ministers as his top advisers. Marco Mendicino is Carney’s chief of staff, David Lametti is part of Carney’s transition team. Mendicino and Lametti were famous while in cabinet for joking about how many tanks were needed for quelling the Freedom Convoy in 2022... Even people who had no time for the Freedom Convoy recoiled at two senior cabinet ministers in the Trudeau government talking about using tanks to quell a domestic political protest... Mendicino was dropped from cabinet in July 2023 after a series of missteps. He lied about police asking for the Emergencies Act to be invoked to end the convoy, he introduced gun legislation that would ban common hunting rifles and shotguns and was denounced by Indigenous leaders, and he seemed incompetent when he couldn’t provide answers on serial killer Paul Bernardo being transferred to a medium security prison. Lametti was a law professor at McGill University espousing bizarre left-wing theories before seeking office in the 2015 election. In 2019, Lametti was made justice minister after Justin Trudeau moved Jody Wilson-Raybould out of the portfolio because she refused to give SNC-Lavalin a sweetheart deal in their prosecution over fraud and corruption allegations. Trudeau was found to have violated the ethics rules by trying to improperly influence Wilson-Raybould in the SNC-Lavalin affair. Lametti defended the government’s actions throughout the scandal. People at the centre of some of Trudeau’s worst political moments are now the top advisers to Carney, the agent of change. Carney himself has been the chief economic adviser to the Trudeau government since the summer of 2020. That’s almost five years. His campaign team was made of Gerry Butts, he received support from people like Katie Telford, most of the PMO and the majority of Trudeau’s cabinet. There is no way that Carney can claim to be the agent of change that he wants to be. Just look at some of the bills that Lametti promoted as justice minister. With Bill C-5, introduced by Lametti, the Liberals scrapped mandatory minimum sentences for repeat offenders for crimes such as gun smuggling and gun trafficking. With Bill C-75, championed by Lametti but introduced by Wilson-Raybould, bail became the default position that all judges and justices of the peace were instructed to take. Carney has just hired one of the architects of the Trudeau government’s soft-on-crime approach to help him bring change. Do you trust him or his team to actually deliver change? The Carney team who takes issue with Conservative Leader Pierre Poilievre saying that Canada is broken wants you to forget about the broken justice system, the broken jail system, the broken immigration system, our that housing prices having doubled. All the people responsible for those files under Trudeau now support or are working for Carney, the man promising change from the Trudeau government"
Carney's Liberal coronation is just what Trudeau ordered - "With the support of most of Justin Trudeau’s team, Carney has been ushered in to continue on with more of Trudeau’s signature economic policies, the ones Carney has been advising Trudeau on since 2020. Yes, Carney said that he will scrap the capital gains tax changes that have hurt so many small business owners, but that had to go. He also promised to drop the consumer carbon tax but would also increase the industrial carbon tax, a move that will have the same impact on manufacturing industries like steel as Donald Trump’s tariffs. Few Canadians will know about the discrepancy in Carney’s plan or any others because there has never been a leader in this country elected to such high office with so little vetting. Carney preferred speeches and rallies over news conferences and interviews with U.S. media outlets over Canadian ones because the interviewer would know little about Canadian politics. When he wasn’t appearing on The Daily Show or the podcast of Trump’s short-lived spokesman Anthony Scaramucci, Carney preferred to speak to friendly liberal media outlets like CBC. While the media narrative is that Carney has reinvigorated the Liberal party and closed the polling gap with Pierre Poilievre’s Conservatives, neither claim is demonstrably true. While more than 400,000 people signed up as “registered Liberals” to vote in this nomination process, just over 151,000 actually took the time to vote. This is a chance to pick the next prime minister of our country at a time when we are facing a threat to our sovereignty and a threat to our economic future, yet our next PM was chosen by so few people. By comparison, the last Conservative leadership race saw more than 400,000 people vote with 295,285 ballots cast for Poilievre alone... The latest Leger poll, the polling firm Postmedia works with and the most accurate in the last several federal elections, shows the Poilievre-led Conservatives with 41% of the vote to 33% for the Carney-led Liberals. Leger also found that Poilievre beat Carney on who was best suited to deal with Trump, to handle inflation and the cost-of-living crisis and to understand the “concerns of voters like me.” That’s not the narrative the rest of our national media are trying to spoon-feed us, the same national media that didn’t bother vetting the man who was selected — not elected — to become our next prime minister"
Mark Carney is wrong about everything - "Canadians have a new prime minister. After a leadership election in the ruling Liberal Party, it’s out with the woke globalist, Justin Trudeau, and in with the woke globalist, Mark Carney. Extraordinarily, in an age where justified populist rage against an out-of-touch establishment is spreading across the globe, Canadians have ended up with a leader who embodies that very establishment. In many ways, Carney is the technocrat’s technocrat. A bone fide citizen of nowhere. The new Canadian PM’s CV reads like a parody of an archetypal Davos man... he has never once held any form of elected political office. He does not even currently hold a seat in Canada’s House of Commons. Carney is living, breathing proof that expert credentials are no substitute for sound judgement or political acumen. He has embraced just about every naff and dangerous political trend of our times, never deviating from the Davos script. Most notoriously, as governor of the Bank of England from 2013 to 2020, Carney became the high priest of Project Fear ahead of the 2016 Brexit vote. He warned before the referendum that a Leave vote would spark an instant recession. It didn’t. He claimed Brexit would make investment in British assets so risky that it could ‘test the kindness of strangers’ should the UK take the leap. Needless to say, this was politically motivated hysteria, not a sober assessment of Britain’s economic prospects outside the EU. More recently, his endorsement of Labour’s Rachel Reeves as chancellor ahead of the UK General Election also smacked of both dubious judgement and needless political interference. Carney said in autumn 2023 that it was ‘beyond time’ her plans were put into action. Yet since Reeves’s plans were actually put into action, in her first budget in October last year, the UK economy has teetered on the brink of recession, unemployment has risen and government borrowing costs have shot up. Call it the Carney kiss of death. As Bank of England governor, he quickly tired of his mandate to manage monetary policy and soon became bizarrely preoccupied with climate change, turning it into a focus of central-bank policy... Of course, it is now abundantly clear, if it wasn’t already back then, that reorganising society around climate change has had disastrous economic consequences, pushing up energy prices, harming industry and damaging productivity. Even Carney seems to have reluctantly realised this, having promised recently to cut Canada’s punishing carbon tax, a flagship policy of Justin Trudeau. Carney hasn’t yet cottoned on to voters’ agitation with wokeness, however. In fact, during a campaign rally in February, he explicitly opposed Donald Trump’s ‘war on woke’ south of the border, claiming that Canada would always stand for ‘inclusivity’. Of course, ‘inclusivity’ in this context means men in women’s sports, men in women’s private spaces and the medical mutilation of mostly gay and autistic children – deranged policies to which most ordinary people are opposed but our supposedly sensible overlords still cling to like dogma."
EDITORIAL: Words of warning on woke Carney - "His supporters point to his impressive resume as governor of both the Bank of Canada and Bank of England. In the U.K., however, the reviews are less enthusiastic... Carney was criticized for what some politicians viewed as dabbling in politics during the Brexit vote. Hollingshead quotes Lord Moynihan, former chairman of Vote Leave, a group that supported Britain leaving the European Union: “He (Carney) was the perfect epitome of homus wokus. I thought he was a disaster as governor, taking the Goldman, Keynesian view of the world and flying blind when it came to predicting inflation.” Hollingshead also quotes former Conservative cabinet minister Jacob Rees-Mogg: “Fundamentally, Carney is one of those people who think a small group of experts can run things better than a noisy, vibrant democracy.” The gospel of St. Mark embraces Net Zero, a costly effort to reduce greenhouse gases. Right now, Canada needs to invest in defence spending, pipelines and energy infrastructure. We don’t need Carney to send our tax dollars down a woke rabbit hole."
🅾️ Kat Kanada on X - "REPORTER: You suggested to move away from an emissions cap. Your environment minister said cap will remain. Explain.
CARNEY: I double pinky promise it's not a production cap. It's just an emissions cap. Trust me, bro."
Meme - "Andrew Scheer was running to be Prime Minister and the Liberal media shat all over him for being a dual citizen. Mark Carney holds a British, Irish and Canadian passport, hasn't lived here ina decade and not a word from the MSM. I'm so sick of liberal hypocrisy"
terry l. on X - "CBC News informed us this morning that Mark Carney doesn’t have to disclose his financial holdings or his conflicts of interest until he wins a seat in Parliament. So he’s our unelected PM, and we’re not allowed to scrutinize him. Got it. Wake me up when this nightmare ends."
Stephen Taylor on X - "Mark Carney personally voted to move Brookfield’s headquarters to NYC, according to a letter he sent shareholders as Chair describing the “unanimous” decision by the Board."
Jonathan Kay on X - "yeah but this is all in Carney’s distant past—long before he became a proud Liberal patriot... alllllll the way back in... uh, let’s see.... December, 2024... three weeks after trump was elected president, and less than a week after trump said he’d apply crippling tariffs on Canadian exports. uh oh"
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